Reducing Customer Complaints with Speech Analytics

By August 12, 2020Blog Posts
reducing customer complaints with speech analytics

Customer satisfaction is the key factor behind the success of a business. The more satisfied a customer is, the higher the chances they become loyal customers. This means they will stay with your brand and spend more than others. Therefore, keeping customer satisfaction as high as possible is important for the sustainability of a business.

Improving customer satisfaction requires understanding customer expectations better. This is possible with continuous listening and monitoring. By doing so, businesses not only figure out what customers expect but also detect their pain points, which show up as complaints.

Call centers are the primary customer service points that handle customer complaints. Complaint management is a tough task for call center teams. Providing on-time feedback and reducing the number of complaints is important.

Speech Analytics offers an effective solution for complaint management. The technology analyzes 100% customer interactions and provides call center managers with insights into customer satisfaction, agent performance, and service quality.

The steps below can help call centers to reduce customer complaints and increase customer satisfaction with Speech Analytics:

  1. Detect the problem

With manual evaluation methods, only a small ratio of recorded calls can be evaluated. With such a limited evaluation, it is almost impossible to detect complaints. On the other hand, Speech Analytics analyzes 100% of the calls and allows supervisors to pinpoint the calls that include complaints.

  1. Find the root causes

Detection of the behaviors that cause customer complaints is the primary step. Speech Analytics allows call centers to take one step further by showing the real reasons for these complaints with root-cause analysis. This analysis lets managers compare dates, agents, agent groups, queries, and voice channels to identify and respond to common problems.

  1. Take action

Features like statistical comparison and automatic evaluation allow supervisors to generate in-depth reports about agent performance. They can transform evaluation results into agent feedback and training material to improve agent performance. So, they can guide agents through enhanced customer service.

Here is how one of our dear customer Credit Europe Bank Russia reduced customer complaints at its contact center by 35%

The Customer

As one of the leading financial services providers in Russia, Credit Europe Bank is featured in Forbes TOP 10 Banks in Russia List. The bank was searching for solutions to increase the efficiency of its customer service operations.

The Problem

CEB Russia was targeting to increase efficiency for its call center, collections, customer care, telemarketing activities. The bank needed to monitor and evaluate inbound/outbound customer calls to gain insights on how to increase call quality, agent performance, collections performance, sales revenue and to reduce customers` complaints executing preemptive actions. This required an automated quality management approach due to the vast amount of calls that cannot be fully evaluated with manual monitoring methods.

The Results After Speech Analytics

  • 35% decrease in customer complaints
  • 25% increase in customer satisfaction
  • 2X Increase in sales at mobile banking channel

Learn More

To learn more about how Speech Analytics can help you in complaint management, visit: https://www.sestek.com/speech-and-text-analytics/

Author: Murat Topçu, Senior Product Consultant & Business Analyst