60 ideas in 60 minutes - Speech Analytics

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60 ideas in 60 minutes - Speech Analytics

  1. 1. 60 Ideas in 60 Minutes – Speech Analytics Moderator: Vicki Herrell Executive DirectorQuality Assurance & Training Connection (QATC) www.qatc.org
  2. 2. Panelists Aspect – Kathleen Schroeder NICE Systems – Dr. Vasudeva Akula Verint – Daniel Ziv Utopy – Mike Miller
  3. 3. Enhance the Customer ExperienceWhat are my customer’s impression of my company – are wemeeting their expectations?3 ©2011 Aspect Software, Inc. All rights reserved.
  4. 4. Use Real-Time Speech Analytics to Shape Interactions at the Decisive Moment
  5. 5. Become Part of a VOC Community VOC programs are becoming more complex and much more strategic within many organizations. Leverage insights from other customer experience executives from within and outside your industry. Sharing knowledge, ideas, best practices and successful case studies is a great way to increase your chances of success. – Look for a vendor that has an existing community of VOC executives and speech analytics users. – Some vendors also offer consulting services from experienced VOC analysts that can help you achieve rapid and significant return on your VOC investment. 5
  6. 6. Comprehensive Call Reason Tracking Most companies identify just one reason for a call. Measuring all call topics provides a deeper view into customer needs. “I’m calling to activate my phone.” “I have a new phone that needs to be activated.” “Can you help me activate a phone?”
  7. 7. Maximize Sales EffectivenessAre we maximizing every revenue opportunity? Contact Center Enterprise 2.0 Consumer 2.0 Contact Center Blogs Back Office Social Sites Experts Communities7 ©2011 Aspect Software, Inc. All rights reserved.
  8. 8. Combine Speech Analytics with Real-Time Decisioning and Guidance Workforce Quality Cross-Channel Management Management Interaction Analytics Real-time Next-Best-Action Guidance Next-Best-Offer for Sales & Predictive Campaign Real-Time CRM & Retention Next-Best-Offer Management Speech Desktop Model Analytics Applications
  9. 9. Holistic Voice of the Customer conversations conversations THEY initiate WE initiate with with us? them? Phone Calls IVR Survey Chat Email/Web Survey E-mail Post Call Survey PUBLIC conversations Web Social Media Communities 9
  10. 10. Link Best Practice Call Libraries to Coaching Sessions SupervisorCoaching Session Agent
  11. 11. Categorize Calls to Perform Root Cause AnalysisWhy has call volume dramatically increased? Is there aproblem that our customers need to call for resolution?11 ©2011 Aspect Software, Inc. All rights reserved.
  12. 12. Use Speech Analytics to Keep Track of Customer Buzz
  13. 13. Phone still #1 and Richest Customer Channel 79% of consumers selected live phone call with agent as #1 channel 13
  14. 14. Uncover Valuable Surprises Why are top agents taking longer than other agents?
  15. 15. Improve Business ProcessesHow does the way calls are handled impact my companiesbottom line?15 ©2011 Aspect Software, Inc. All rights reserved.
  16. 16. Reshape the QM Process - Evaluate Calls That Matter
  17. 17. Providing Early WarningSocial Media Public Domain Enterprise Domain Calls More Context Higher Relevancy Higher Cost Direct Customer Early Warning Feedback Emails Chat 17
  18. 18. Identify Key Events in Interactions Quickly & Easily Very disappointed
  19. 19. Improve Self-Service UtilizationWhy can’t our customers resolve their issues on our webportal without calling for assistance?19 ©2011 Aspect Software, Inc. All rights reserved.
  20. 20. Take a Holistic Approach of The Voice Of The Customer Interaction Analytics + Customer Survey Feedback + Customer Journey = The Complete Voice of the Customer
  21. 21. Get More From Your Quality Monitoring Random Call Monitoring Typically Sample Mostly “Average” Calls• Low Customer Sat • High Customer Sat• Disconnects • High quality• High AHT • High efficiency• Holds, Transfers • Sale achieved• Silence/Dead Air• Repeat calls• Anger Distribution of Quality of Customer Contacts 21
  22. 22. I Wonder How Often ……… Talking about survey biases results and adds 4 sec to AHT
  23. 23. Improve Agent PerformanceHow are agents interacting with our customers?23 ©2011 Aspect Software, Inc. All rights reserved.
  24. 24. Use Speech Analytics to Optimize Customer Lifetime Value From Workforce Optimization to Customer Lifetime Value
  25. 25. Focused Quality Can Significantly Increase ROI Random Sample + Speech Analytics = 100% View• Low CSAT • High CSAT• High AHT • Complement• Holds, Transfers • Sale closer• Silence/Dead Air • Retention• Repeat calls • New issues• Anger/Emotion • Objections Distribution of Quality of Customer Contacts 2525
  26. 26. Form Comprehensive View of Customer Activity Analyze interactions by contact reason Provide unified reporting of customer activity Assess conditions driving customers to high cost solutions
  27. 27. Identify Agent Coaching/Training OpportunitiesAre we taking advantage of every opportunity to improveagent productivity?27 ©2011 Aspect Software, Inc. All rights reserved.
  28. 28. Customer Churn Prediction with Speech analytics Identify Churn Signals Calculate Churn Risk Score for each Interaction Proactively reach out to customers at risk with retention offerings
  29. 29. Improving Sales Conversion Increase Sales Conversion  Identify rate of success of each step  Pinpoint best and worst agents  Surface positive language and best to reduce Find how practices none value calls Upsell 60.0% 57.6% “Can I have Success 49.8% … increase number another # Calls Rate 50.0% of proposals moment of 40.0% your time?” … and drive 32.8% 32.3% “you could 30.0% 50 % 23.5% Average conversion Rate the earning 35 % 20.0% 15.1% interest on 8% 12.9% 11.4% this balance” 10.0% 6.3% Key phrases In the call 0.0% 29 29
  30. 30. Identify Frequency and Placement of Skill Build rapport Feature + benefit early in call better than feature only
  31. 31. Monitor ComplianceAre we adhering to proper protocols on every call?31 ©2011 Aspect Software, Inc. All rights reserved.
  32. 32. Convert Service Calls to Sales Calls with Speech Analytics Hidden Opportunity “Hi, I am moving in with my boyfriend (we’re getting married in November). I need to change my address.” Stated Topic
  33. 33. Focus on What Matters MostTo Your Customers and Business• Analyzed “lost customer” interactions• Built “At Risk” VOC Category: – Ridiculous, You People, Looking NEAR Statement…• Saved 86% of at risk accounts by reaching out proactively• Total of 4500 accounts saved• Initial ROI achieved within 7 weeks Saved Cost Revenue (Verint + Staffing) ROI $12.5M $11.9M $600,000 33
  34. 34. Use Automation to Uncover Emerging Trends Speech I got the new phone I’m having trouble with my I just recently bought the to Text model…it seems to be phone….the data service newest phone dropping calls works fine but my new model…..the video frequently….I upgraded phone seems to drop camera is great…the my account to a family calls…you guys should internet service has been plan because of the recent have thought of that spotty…my new phoneCustomer promotion on the family sooner has been dropping a lot Text plan…….. of calls… Analytics Discovery Analytics Agent Movers and Shakers Customer Term Percent Change Interactions new phone dropping calls 376.1% one month free 25.8% they’re overcharging me 5.8% recent tv advertisement -8.6% broken product in mail -18.6% cancel my account -21.3% trouble with form on website -23.5%
  35. 35. Improve Collections EffectivenessWhy aren’t customers paying on time? Is our payment methodcausing more confusion than resolution?35 ©2011 Aspect Software, Inc. All rights reserved.
  36. 36. Speech Analytics – Analyze Beyond Spoken Words Talk Over Analysis Emotion Detection Call Part Analysis 8% 15% 10% 16% 10% 31% 10%
  37. 37. Listen to Customers to Inspire Evolution Customers Intelligent Enterprise Bridge the gap between listening and action 37
  38. 38. Track Coaching Sessions to Measure SupervisorPerformance
  39. 39. Increase Market IntelligenceWhat do our customers think about our products and services?39 ©2011 Aspect Software, Inc. All rights reserved.
  40. 40. Combine Speech Analytics Insight with External Data Keywords and Topics Misinformed Speech Talk Over Analysis Phone Frustrating Emotion Detection Call Flow Analysis This is the 2nd time I’m calling Desktop Analytics Context Customer Demographics Web Interaction History Phone Survey Customer Feedback
  41. 41. What ROI to Except ?Business Pain Example ROI Increase First • 10-15% less repeat callsContact ResolutionImprove Customer • 10-20% less dissatisfied Satisfaction callers Improve Self- • 30-40% reduction in Service related calls • 5-15% increase in Increase Sales conversionReduce Customer • 10-25% less cancellation Churn calls 41
  42. 42. Automate the QM ProcessExample: Critical Sales Skills Mapped Skill Phrases Build Rapport  How are you today  What’s the weather like  How long have you lived in  Building Rapport Probe for Customer  Being Courteous Needs  Probing for Customer  What are you trying to do Needs  What is most important to you  What are you looking for  Educating the Customer Create Urgency  Create Urgency  If you buy now  The prices are great now  Asking for the Sale  We are having a sale right now
  43. 43. From Speech Analytics to Interaction Analytics Speech Analytics
  44. 44. Determine Agent Skills that are Most Important Top and Bottom Agents: Skill Usage Comparison Key differentiators to sales conversion Even top performers are not good at discussing benefits No significant impact on sales conversion Top performers follow salesprocess significantly more than bottom performers
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