With the increase of customer communications channels (voice, e-mail, live chat and social media), contact centres often find they’re swimming in customer data. The question then becomes: how do companies use all that data to provide the type of experience that customers are looking to have?

Conversation analytics and speech analytics software is one solution. That’s because this type of technology allows organisations to look for specific language patterns that influence company metrics, leading to an improved customer experience overall.

Let’s take a look at the importance and impact of conversation analytics software across all areas of the enterprise.

Conversation analytics: not just for the contact centre

One of the primary benefits of conversation and speech analytics technology is its ability to uncover the root cause of customer concerns or issues, which results in a host of positive outcomes: improved customer satisfaction and increased sales being just two. In fact, according to recent PWC research, one in three customers would walk away from a brand they love after just one bad experience. On the other hand, organisations that deliver great customer experiences can charge a 16% premium to their customers, while still maintaining customer loyalty.

Customer experience, of course, extends to more than just contact centre interactions and encompasses the complete customer journey. Therefore, every interaction, at every touchpoint, across every channel contributes to a customer’s overall experience with your brand. There may be problems with field service agents, issues with products, or complaints related to company processes.

When you can understand what’s happening in each customer interaction, you can more effectively identify issues, gaps and areas for improvement – from agent performance to better products or services. The result is improved performance across all departments within the organisation as well as enhanced customer experience overall.

A closer look at conversation analytics throughout the organisation

Let’s say, for example, that conversation analytics and speech analytics software has identified that sales campaigns have been falling short of meeting customer expectations. How can the sales department leverage that information to drive more effective campaigns?

For performance marketers who rely on customer conversations to effectively target and promote marketing programmes, identify new sales opportunities and drive company revenues, conversation analytics can be the linchpin to improving agent performance.

With conversation analytics technology in place, supervisors receive immediate performance feedback that can help them determine where agents excel and where they may need additional coaching. Having this data in hand allows managers to implement training programmes to hone best practices and improve sales effectiveness overall.

Having this data in hand allows managers to implement training programmes to hone best practices and improve sales effectiveness overall

But that’s just one example of evangelising conversation analytics capabilities throughout the organisation. Companies are also tapping into conversation intelligence to improve business performance, drive product innovation, detect fraud, increase compliance and reduce risk, manage their brand reputation and experience, understand customer expectations, and more.

To read more examples and learn more, download CallMiner’s report on Driving Business Improvement with Conversation.

Plus, watch out for an upcoming episode of TechCentral’s tech show TCS+ where CallMiner’s vice president of international, Frank Sherlock, explores the importance of data to drive business improvements.