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What You Need to Know About Speech Analytics

by Marchex | May 1, 2017

Chatbots, self-help wikis and live chat supports may sound like the new “must” for companies.

But…calls to business from smartphones will reach 162 billion by 2019.

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Your business phone isn’t a remnant of the past. Allow me to illustrate this even further:

  • Google’s official data suggests that 70% of mobile searchers dial up a business straight from search results.
  • Over 61% of mobile searchers also admit that having an option to a call a business in their path to purchase is very important.
  • Around 71% of Internet leads are wasted by business as it takes around 46 hours and 53 minutes (!!!) for a sales rep to pick up the phone and follow up.

Admit it.

You want your contact center or phone agents to generate more business and convert new leads into devoted customers, rather than alienate and irritate the prospects.

But you are a company with high staff turnover rates at the support department. Providing effective training and timely feedback to agents is challenging.

You current call analytics tool delivers some sorts of call tracking, recording, and transcription. Yet, leveraging that data for your digital marketing campaigns is a tough call (pun intended).

How Speech Analytics Can Benefit Both Sales And Marketing

Now imagine this instead.

What if you could have a full picture of what happens on an inbound phone call? No, not just the transcripts, but actionable, bite-size insights that would allow you to:

  • Immediately spot missed sales opportunities during phone conversations.
  • Identify top performing agents and jot down their wording.
  • Analyze call conversions and generate up to 20% more sales.

That exactly what something like Marchex Speech Analytics can do for you.

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Let’s dive in even further.

Reduce Operational and Training Costs

Speech analytics software pays for itself within as little as three months. Here’s how:

  • You avoid counter-productive spendings such as manually going through call transcripts and recordings.
  • Speech analytics software allows you to quickly identify the top performers among your agents and those struggling to meet their goals.
  • Faster feedback means less missed sales opportunities and decreased customer attrition.
  • Proven best practices from high converting conversations could be incorporated straight into the employee training program.
  • In fact, the overall agent training time can be reduced, while its quality can be increased.
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Natural Generation of More Sales Opportunities

The data captured during the call can be used to identify additional cross-sell and up-sell opportunities. Or leveraged in a digital marketing campaigns to deliver a truly personalized offer for the client.

Additionally, our solution enables you to track which marketing channels bring you the most valuable calls.  Use this data to optimize your ad spending. Connecting the dots between online to offline channels becomes simple this way.

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You optimize your marketing performance and deliver more qualified leads to the sales team, already equipped with the even more data to close the sale.

Streamlined and Consistent Customer Experience

Did you know that 74% of customers would switch to another brand after a poor phone experience?

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You don’t want to lose business because your agents sound irrelevant or too pushy.

Again, speech analytics technology gives you some unfair advantages:

  • Understand what went wrong during a call. Optimize the scripts, hold times and agents’ training to make sure the clients’ expectations are always met.
  • Create lookalike audiences from calls with high purchase intent. Later this data can be applied to narrow down the exact segment of like-minded customers.
  • Reduce the wait times as Clean Call ® will filter out all sorts of robo-calls to save your team time and sanity.

To learn more about Marchex speech analytics products and how they can benefit your business, contact us today.

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