How Can Speech Analytics Change your Business?

Come 2019 and Speech Analytics just got bigger. The process to analyse voice recordings or live customer calls to contact centers with speech recognition software to harness useful information has received new dimensions.

Harnessing Audio Patterns

Speech analytics software identifies words and analyses audio patterns to detect emotions and stress in a speaker's voice by collating calling data. This trend is a blessing to organisations as it allows businesses to drive greater personalisation in an online environment and creates a more targeted ad serving to lure potential customers. In addition, the rise of chatbots has not only helped businesses improve their customer service support but has also contributed to the reduction of a company's operational costs.

Organisations can implement speech analytics through the following ways to boost their business marketing efforts.

1. Chatbots

As businesses look to improve the customer experience, chatbots have an important role to play. Over the years, they have become a useful and cost-effective customer service tool to traditional support services such as phone, email and website FAQs. When speech analytics is applied, call transcripts are analysed for specific keywords and phrases spoken. These keywords can be further used to group calls into different categories, like sales, support/services and billing/accounts.

This data can then be ingested into the chatbot AI, where all the information collated from calls is used to identify the type of chatbot enquiry, to enable an accurate retrieval of the data by using elements of call transcripts. In the future, as chatbots become more advanced and are able to answer enquiries efficiently, they can potentially be used to replace call agents, thus reducing labour costs.

2. Personalisation

Credit to digital marketing, marketers are able to create more personalised campaigns thus marking improvements in results from personalisation with increased conversion rates. When you are clicking an online campaign, personalisation is at work behind as it uses your online experience to serve you curated personalised content the next time you visit the website. Speech analytics can enhance this personalised experience by pushing data captured in a phone call as to what product or service the caller has spoken about into a personalisation platform to further personalise the digital experience.

3. Targeted Ad Serving on Social Channels

Speech analytics data and call tracking technology which includes capturing the customer's call details, keywords and call categories can be leveraged to serve ads specifically based on the content of the call. If an organisation has the information of what the call was about beyond the landing page, referral URL and the keyword analysis it can achieve more targeted ads thus improve its ad effectiveness.

Ad serving platforms can use the captured phone number to offer customised ads on social media platforms about what was specifically mentioned in their phone call, thus making the ads even more personal.

4. Leveraging Personal identifier information (PII)

Personal Identifier Information (PII) can be leveraged to identify individual callers, even the phone number, email address or both can be identified. Speech analytics can further enhance this by combining the PII information with data collated from call transcripts, specifically as per the requirements of the caller. This data will be an input into bid management and ad serving platforms to run highly targeted ads at the callers.

5. Lead Scoring and CRM Integration

Lead scoring can help sales teams identify which leads are most likely to purchase so they can focus on leads which are more likely to convert into a sale. Scoring is based on a predetermined criterion set around activities and interactions the user has with a company, such as opening an email or visiting a webpage. The data from a phone call can be further updated based on a consumer's likely intent to purchase, which can be obtained from the keywords used.

"Leading speech analytics provider Delacon includes the top 20 keywords and call categories in data supplied to customers (https://www.delaconcorp.com/integrations/speech-analytics-api/).  This data can then be pushed into CRM systems to be used by sales agents to identify what was discussed on previous calls to help personalise future conversations assisting sales intern calls into actual sales."