Maximizing The ROI Of Contact Center Voice Analytics: Top 5 Use Cases [Incl. Videos]
Are you considering adopting a Voice Analytics solution for your contact center but aren't sure how to get the biggest bang for your buck? If properly utilized, you can use Voice Analytics software to streamline Quality Assurance processes, improve customer journeys, and get the best ROI for your call center.
At MiaRec, we work alongside contact centers to ensure they’re making the most of their Voice Analytics software. We’ve seen hundreds of our clients use Voice Analytics to meet their day-to-day needs and wanted to share the most beneficial use cases.
In this article, we’ll review common scenarios where Voice Analytics could save your contact center time and resources. By the end of the article, you’ll know how to adopt Voice Analytics to better your contact center. We’ve also included practical first steps and further resources to help you get started.
1. Increase the Efficacy of Manual QA
Quality Assurance (QA) is essential to any contact center because they ensure customer service quality, consistent messaging, and compliance with organizational policies and industry regulations.
However, evaluating agent performance manually is not only a very tedious but a highly time-consuming and labor-intensive process. This results in many contact centers evaluating only 2-5% of the recorded calls for quality assurance. But while it is important to have a set process in place to measure interactions, it does not need to be complicated.
There are two ways to accelerate your QA processes: by using software solutions to support manual QA processes or by fully automating with AI-driven Voice Analytics (see the next use case). In this section, we'll discuss how Voice Analytic solutions can support your manual QA workflows.
Voice Analytics solutions provide call transcriptions so you can skim conversations without having to listen to each one entirely. Some solutions (like MiaRec) allow you to click on the transcription to hear the corresponding audio if you need to listen to a specific portion of the call. Most contact center QA solutions help streamline post-call procedures by allowing you to leave feedback on the transcript for the agent to review and respond to.
Want to see how MiaRec can speed up your manual QA process? Watch the video below to learn about MiaRec’s call recording dashboard, additional ROI use cases, and more.
2. Automate QA Processes For Unbiased Agent Evaluations
As contact centers are handling more customer interactions than ever, it’s becoming difficult to grade each interaction by hand. Most contact centers with manual QA processes are only able to review 2-5% of all agent interactions. Moreover, manual evaluations are prone to human bias and errors. If you’re evaluating only a fraction of your agent’s calls, you won’t know what’s happening in your contact center.
Voice Analytics solutions offer Automated Quality Management (AQM) features such as automatic call scoring so that you can instantly score agent interactions and ensure call script adherence without human intervention. With an AQM process, you gain visibility into direct customer interactions without the bias that comes from traditional call scoring processes. These solutions also reduce the cost and labor associated with manual evaluations.
Want to see how much you could save with an AQM system? Check out our free ROI calculator.
If streamlining your manual QA system isn’t enough, consider automating your QA processes with MiaRec's Auto Score Card. Watch the video below to learn more about real-life use cases and how to make the most of an automated QA process.
3. Meet Compliance Regulations With Auto-Redaction
Ok great, so you’re able to streamline call script adherence and call scoring. But what about your customers’ security? What happens if you need them to recite their birth date, credit card, or other sensitive information? Maintaining your customer's data privacy is more important now than ever, especially as penalties could reach $5,000 to $100,000 per month until you comply. Failure to follow compliance guidelines like the PCI-DSS could also result in a damaged reputation and high customer churn.
Customers trust you to secure their information. Manually pausing and resuming each call is time-consuming and vulnerable to human error and security breaches. That’s why some Voice Analytics software includes security features such as automated data redaction to redact any information that you don’t want to be recorded. Automated redaction removes sensitive information by following redaction rules. You can modify these rules to meet your contact center's privacy needs.
By automating the redaction process, you’re also saving time and labor for more high-value tasks. With properly redacted files, you can search customer interactions knowing you’ve met compliance and security guidelines. Unlock valuable customer insights with a secure database.
MiaRec's AI-driven Auto Redaction feature removes sensitive information from transcripts and their associated audio files. It’s designed to proactively identify and remove sensitive data based on machine learning techniques. Watch the video below to learn how auto-redaction is utilized on MiaRec’s Conversation Intelligence Platform.
4. Understand Agent and Customer Sentiment With Sentiment Analysis
We’ve all heard someone say, “That’s great to hear!” and not mean it. We know that a conversation isn’t defined by words alone. That's why you also need Voice Analytics to detect the context and sarcasm behind the words.
Traditional rule-based sentiment analysis where you check for “good” and “bad” words can be inaccurate, time-consuming, and labor-intensive. With Natural Language Processing (NLP), your Voice Analytics software can automate the process by interpreting conversations and their context for you.
You can use sentiment analysis to get the full situation behind all of your contact center’s interactions. With this added data, you can identify your most popular (and unpopular) products or services. Adapt your business strategy to provide personalized recommendations and decrease customer churn. Understand your customers’ needs and improve your customer experience strategy with targeted messaging.
MiaRec's Conversation Intelligence Platform records calls on separate channels to score both agent and customer sentiment. Was the call bad because a customer was complaining? Or was it because the agent hadn’t followed the call script? Learn about additional use cases and how MiaRec uses sentiment analysis in the video below.
5. Improve Conversation Insights With Topic Analytics
Contact centers are analyzing larger and larger amounts of text. Analyzing every interaction has become an increasingly tedious and time-consuming task. Manually sorting data also leads to human mistakes and inconsistencies. That’s why some Voice Analytics software offer topic analysis to make the sorting process faster, cheaper, and more structured.
Through NLP and AI, the topic analysis feature organizes and analyzes call data by assigning categories according to a topic or theme. NLP enables computers to process and interpret dialogue and the sentiment behind it.
By leveraging Topic functionality, you’re able easily visualize and analyze your data. With your data sorted and cataloged, you can easily identify trends and make better data-driven decisions.
Are you seeing continuous order cancellations and don't know why? By categorizing your calls by topics, you can identify trends and patterns. You could discover your orders are being canceled due to a faulty payment system or a website bug.
With MiaRec Topic Analysis, you can organize call volume trends and searches by topic, keyword, or score. Watch the video below for specific use cases and a deeper look at MiaRec’s Topics dashboard.
You now have a better idea of how your organization can get the most from its Voice Analytics software. While you should be keeping an eye out for these features when browsing, we know there’s another big question on your mind: How much will it cost?
Every Voice Analytics vendor offers slightly different packages and features, making it hard to give an average monthly cost. These solutions also often charge per user, meaning you’re paying for every recorded agent. We’ve seen voice analytic solutions ranging from $50/user/month to $125/user/month.
Our Voice Analytics features costs $78/user/month or $65/user/month if paid annually. Please note these features are only available on our enterprise packaging.
For more on pricing, we recommend reading How Much Does Call Recording & Voice Analytics Cost In 2023?
If used right, Voice Analytics is a great tool to streamline Quality Assurance and management workflows. Save time, energy, and labor by automating your call scoring process. Meet compliance guidelines and security regulations with auto-redaction and automated call script adherence. Prepare your agents with personalized feedback and support them with sentiment and topic analysis. Provide data-driven recommendations and tailored customer journeys for every concerned caller.
Now that you know how your contact center can utilize Voice Analytics, why wait?
Register here for a free online demo to transform your contact center.
You May Also Like
These Related Stories