Listening to the true Voice of the Customer (VoC) has never been as critical and demanding as it is today. As each consumer’s needs are different, understanding each one is vital to providing a great customer experience (CX). Creating powerful customer experiences requires your team to track and analyze every single conversation. As a result, more and more contact centers are heavily investing in tools to monitor the Voice of the Customer to help them keep up with high demands, expectations, increase sales and customer loyalty.
With voice analytics, you can automatically, score, categorize, tag and monitor 100% of your customer interactions. Voice analytics is a smart way to learn what your customers are saying and a great way to view the entire ecosystem.
What is VoC?
Voice of the Customer refers to the way an organization collects customer insights and analyzes data to deliver better customer experience, products and services. For years, companies have been listening to customer calls in order to better understand their wants and needs. For instance, in a study conducted by Salesforce, “64% of marketing leaders say their company has become more focused on providing a consistent experience across every channel as a result of changing customer expectations.” Any growing and successful business knows that collecting and taking action from the Voice of the Customer is a fundamental principle.
Why does it matter?
Successfully utilizing Voice of the Customer programs has proven to increase customer loyalty, create better products, give better service and quickly understand customer experience by utilizing customer insights that are collected from recorded calls. Not only can you listen to your customer’s wants and needs, but it is also a way to collect information about how your employees interact with customers on a day-to-day basis. By pairing the Voice of the Customer with speech analytics, you can expect the following results:
- Reduction in customer churn - Happy customers = loyalty
- Increase efficiency -Through improved solutions
- Capitalized Opportunities - Valuable metrics and tagged keywords can implement a new trends and opportunities for new products or services
- Reduce costs: With improved products and services internally for employees and externally for customers
- ROI: Successful improvements deliver returns to the business
Why implement Speech Analytics to listen to the true Voice of the Customer?
Understanding the true Voice of the Customer through AI-powered speech analytics is a must-have tool to have for any company that is drowning in phone calls, emails, audio and social media posts. Consumers act quickly and organizations must act quicker. A study conducted by Oracle states :
- 86 percent of consumers will pay more for a better customer experience.
- 89 percent of consumers began doing business with a competitor following a poor customer experience.
- 79 percent of consumers who shared complaints about poor customer experience online had their complaints ignored.
- 50 percent of consumers give a brand only one week to respond to a question before they stop doing business with them.
With VoiceBase’s omni-channel products, you can liberate your data, take action and deliver powerful results for your organization by analyzing your calls, identifying the sentiment of the caller and automatically tag keywords and trends.
What channels can you use to collect insights from the Voice of the Customer?
Organizations have transitioned to omni-channel options for contact in order to meet the needs of their customer base. Letting people engage with your brand via the channel they prefer, is the first step to improving customer experience. The next step is making sure you can monitor and manage the rich analytics from each of these channels: calls, text messages, emails, social media platforms and even help support platforms such as Zendesk, Salesforce and ServiceNow.
Through VoiceBase’s AI-powered speech analytics, collecting valuable insights from the true Voice of the Customer has never been easier! Are you ready to act and reveal your customer’s journey to unlock invaluable business value?