HOSTCOMM NEWS

What Are Interaction Analytics and What Are Their Key Benefits?

Better understanding customers and delivering personalized service is fundamental to contact centre performance yet as the channels customers use to interact with businesses proliferate, bringing together and efficiently sorting the data from these channels becomes more and more difficult.  

Interaction analytics provides the solution to this problem. It automatically captures the data from all your disparate customer communication channels and allows it to be analysed together as a whole. The benefits go far beyond showing you an omnichannel customer record, analytics enable you to get insight to then improve coaching, allow for real-time support for your agents to ensure the best performance outcome on each and every call, create best practices, objectively and accurately measure performance, a more consistent customer experience, brand image, and lowers attrition rates.

In short, it gives you ways to measure customer engagement not previous possible, and with measurement comes the ability to improve.

100% of Customer Conversation Data

Interaction analytics are a game changer because they enable companies to do analytics based on 100% of customer data rather than a small sample. In the past companies seeking insight from customer conversations had no choice but to listen to them manually - We all remember going through an IVR and hearing, ‘Calls may be recorded for monitoring and training purposes.’

But to listen to all calls is prohibitively expensive leaving the difficulty of not knowing whether the sample was a good one. In addition, as the call was being listened to by a person, the issue that they might be subjective in scoring a conversation. For example, having to make a judgement consistently about the level of anger or ‘intent to buy’ in hundreds of conversations is extremely difficult for a person but a machine will interpret and score the same every time.

How Does It Work?

Interaction analytics uses speech and text analytics deployed across all your channels, combined with AI and machine learning. It gathers both unstructured and structured data like meta data – call times, agent login details – and then models and scores to get insight into your objectives. Each company has its goals and objectives, but key KPIs drive performance across all contact centers. For example, first call resolution, reduce call handling times, sales, customer satisfaction and NPS.   

Tagging with structured data point means you are, among other things, able to identify the personnel who need support – Once you have modelled and found the most successful conversations that drive results for your business, you can work with the agents who need additional training and even in real-time monitor how they are performing and intervene to help them.

This process drives constant improvement and performance across your main KPIs.  

Benefits and Usages

The ability to automatically analyse 100% of customer interactions provides invaluable insight into your customers, employees and processes.  

Replace Surveys

Getting consumers to fill out surveys has always been extremely difficult, time-consuming and with mixed results. Interaction analytics allows us to collect that feedback unobtrusively in the background and analyse the source language rather than a customer’s interpretation of your tick boxes in the survey.  

Understand Sentiment

Interaction Analytics can be used to pick up on emotions, intent, wants, needs and desires. This is useful to help you understand how your customers feel about your brand, to identify keywords and phrases to avoid, and to even do things like identify customers who may be advocates or are unhappy and thinking about leaving. In the former case, you can get in touch with them to thank you and ensure they boost your NPS, and in the latter to understand their concerns and keep them as a customer.

Real-time Indicators

While analytics enable you to gain insight to better train your agents, real-time indicators close the loop to ensure implementation. They monitor each and every conversation in real-time and can feedback instantly to an agent and their supervisor if they are not following script, have compliance issues or missed an intent signal. The agent can then follow the guidance to get the conversation back on track – Or the supervisor can intervene to help. 

Better Training

Automatic, ongoing gathering of insight makes it easier for supervisors to prepare for training, increases the number of agents that can be coached per week, provides more objective feedback with the benefit that agents react more positively, takes away the role of bad guy from the supervisors, enables supervisors to coach during a call in response to real-time feedback, and allows feedback to go directly to the agent without needing the supervisor both while they are on a call and after the fact.

Compliance and Call Quality

Ensure you don’t have Ofcom issues with real-time monitoring of calls. In addition, maintain the balance between call quality and targets by combining KPIs around sales with those around customer satisfaction. For example, rather than just offering a sales bonus, the bonus would be also linked to indicators around customer happiness.

Productivity and Efficiency

Answering questions in the right way drives FCR and reduces the length of calls directly contributing to agent productivity and levels of motivation. However, another way in which interaction analytics can help drive efficiencies is by analysing differences in how long it takes for different staff to search for answers to questions and define best practice techniques to do it faster.     

In conclusion, interaction analytics offer an unprecedented opportunity to unlock the root cause of contact centre performance issues and then include the tools with real-time indicators.

 

Hostcomm’s interaction analytics solution combines best-in-class speech and text analytics to enable the analysis of interactions across all your engagement channels using a single application with unified dashboards and reports. It drives improved performance across FCR, customer complaints, business problem discovery, upsell and cross-sell, as well as customer retention and self-service effectiveness. 



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