AI-speech analytics or conversation intelligence platforms are offers real-time and custom insights.

Contact centers have emerged as key hubs of sales, compliance, and customer satisfaction in the modern era. There is no growth-oriented business that can thrive without efficient and constantly evolving contact centers. The pandemic has only expanded the coverage area as well as the call volume for contact centers globally. This is where the evolution of AI-powered conversation intelligence platforms is proving to be a life-saver for organizations.

With more than half of the customers admitting to making additional purchases after receiving a joyful customer experience, it is not difficult to see the kind of impact contact center efficiency makes on business growth. There are three main areas where this impact is felt predominantly:

Boosting sales – Helping in revenue generation

Boosting customer experience – Enhancing a company's market reputation

Boosting customer retention – Increasing the LTV of a customer

A world-class AI-powered conversation intelligence platform offers real-time and custom insights to the contact center agents which are specific to that particular conversation. Such an automated integration of machine intelligence leads to far superior sales and customer experience than the conventional contact centers. World-class AI-speech analytics or conversation intelligence platforms are created with a focus on the various operational challenges faced by the contact center representatives.

Here is a low down of key hurdles faced by the contact center teams globally:

It is difficult to engage the customers With short attention spans, precise needs, and less appetite for adjustment, it is becoming increasingly difficult to convert conversations into sales. Despite the efforts of quality analysts and different strategies adopted over the years, this area remains a challenge for agents.

Product complexity affecting conversion – Today, there are tens or even hundreds of variants for a given product or service, available in the market. Thus, agents find it difficult to dynamically enhance the conversion rate.

Information blind-spots – One of the biggest irritants for callers is the need to repeat their entire customer journey or problem. More often than not, agents would remain dependent on the script. Due to the lack of adequate contextual training, they fail to provide the right answers on time. To onboard them after a much longer training period increases the risk of knowledge blind-spots.

 Lack of comprehensive conversation analysis –Quality Analysts can listen to only less than 5% of the total calls received by them in a contact center. These calls are randomly selected, and even with all the diversity of selection, the absence of a dedicated platform makes it difficult to fully understand the customers and train the agents accordingly.

Lack of transparency in customer feedback – In a typical rating-based feedback system, it is difficult to pin-point what aspects of the conversation delighted or annoyed the customers. There is a lot of actionable data that can slip between points 4-5 on a scale of 1-5.

AI Speech Intelligence as the Force Multiplier

Speech Intelligence platforms adopt a multi-pronged AI and RPA-driven processes to enhance efficiency in the contact centers.

Real-time conversation analytics–Through real-time conversation analytics, it is possible to speed up the process of conversation evaluation. Agents are able to perform well and deliver superior customer experience as they get better insights. There are also real-time nudges to reduce legal as well as compliance risks for the companies. Eventually, all these elements empower the agents to serve the customers better.

Real-time Agent Support – It is impossible for any contact center to deploy an experienced person with each agent who could listen to the conversations, understand the problem, and offer suggestions live on the call. However, that's exactly what real-time agent support platforms can do. The ideal solution would analyse calls as they take place. Based on the assessment, the AI-driven platform would offer cues to the agents on their screens. These real-time, accurate and personalized nudges from the AI lead to superior customer experience and lower operational costs. The Average Handle Time is reduced, escalations are minimized and agent productivity is enhanced. Thus, the brand enjoys a greater goodwill in the market over time.

In the new normal, contact centres are responsible not only for answering queries but have also turned into holistic hubs to enhance all-round customer experience. With AI speech intelligence, they can now unlock their full potential in a more efficient, streamlined and delightful manner!

Author:

Bhaskar Mishra, Head of Product, Mihup