60 ideas in 60 minutes - speech analytics

60 Ideas in 60 Minutes – Speech Analytics

Moderator: Vicki Herrell

Executive Director

Quality Assurance & Training Connection (QATC)

www.qatc.org

Panelists

Aspect – Kathleen Schroeder

NICE Systems – Dr. Vasudeva Akula

Verint – Daniel Ziv

Utopy – Mike Miller

3 ©2011 Aspect Software, Inc. All rights reserved.

Enhance the Customer Experience

What are my customer’s impression of my company – are we

meeting their expectations?

Use Real-Time Speech Analytics to Shape Interactions at the Decisive Moment

5 5

VOC programs are becoming more complex and much more

strategic within many organizations.

Leverage insights from other customer experience executives

from within and outside your industry.

Sharing knowledge, ideas, best practices and successful case

studies is a great way to increase your chances of success.

– Look for a vendor that has an existing community of VOC executives

and speech analytics users.

– Some vendors also offer consulting services from experienced VOC

analysts that can help you achieve rapid and significant return on

your VOC investment.

Become Part of a VOC Community

Comprehensive Call Reason Tracking

Most companies identify just one reason for a call.

Measuring all call topics provides a deeper view into customer needs.

“I’m calling to activate my phone.”

“I have a new phone that needs to be activated.”

“Can you help me activate a phone?”

Maximize Sales Effectiveness

Are we maximizing every revenue opportunity?

Contact

Center

Enterprise 2.0 Contact Center

Back Office

Experts

Consumer 2.0 Blogs

Social Sites

Communities

©2011 Aspect Software, Inc. All rights reserved. 7

Combine Speech Analytics with Real-Time Decisioning and Guidance

Real-time

Next-Best-Action

Guidance

Next-Best-Offer

for Sales &

Retention

Workforce

Management

Quality

Management

Cross-Channel

Interaction Analytics

Predictive

Next-Best-Offer

Model

Campaign

Management

Real-Time

Speech

Analytics

CRM &

Desktop

Applications

9

Holistic Voice of the Customer

Phone Calls

Chat

E-mail

conversations

THEY initiate

with us?

conversations

WE initiate with

them?

IVR Survey

Email/Web

Survey

Post Call

Survey

PUBLIC conversations

Web Social Media Communities

Link Best Practice Call Libraries to Coaching Sessions

Coaching Session

Agent

Supervisor

Categorize Calls to Perform Root Cause Analysis

Why has call volume dramatically increased? Is there a

problem that our customers need to call for resolution?

11 ©2011 Aspect Software, Inc. All rights reserved.

Use Speech Analytics to Keep Track of Customer Buzz

13 13

Phone still #1 and Richest Customer Channel

79% of

consumers

selected live

phone call with

agent as #1

channel

Uncover Valuable Surprises

Why are top agents taking longer than other agents?

Improve Business Processes

How does the way calls are handled impact my companies

bottom line?

©2011 Aspect Software, Inc. All rights reserved. 15

Reshape the QM Process - Evaluate Calls That Matter

17 17

Providing Early Warning

Calls Direct Customer

Feedback

Emails

Chat

Public Domain

Enterprise Domain

More Context

Higher Relevancy

Higher Cost

Early Warning

Social Media

Identify Key Events in Interactions Quickly & Easily

Very disappointed

Improve Self-Service Utilization

Why can’t our customers resolve their issues on our web

portal without calling for assistance?

19 ©2011 Aspect Software, Inc. All rights reserved.

Take a Holistic Approach of The Voice Of The Customer

Interaction Analytics + Customer Survey Feedback + Customer Journey =

The Complete Voice of the Customer

21

Get More From Your Quality Monitoring

Random Call Monitoring Typically Sample Mostly “Average” Calls

Distribution of Quality of Customer Contacts

• Low Customer Sat

• Disconnects

• High AHT

• Holds, Transfers

• Silence/Dead Air

• Repeat calls

• Anger

• High Customer Sat

• High quality

• High efficiency

• Sale achieved

I Wonder How Often ………

Talking about survey biases results and adds 4 sec to AHT

23 ©2011 Aspect Software, Inc. All rights reserved.

Improve Agent Performance

How are agents interacting with our customers?

Use Speech Analytics to Optimize Customer Lifetime Value

From Workforce Optimization to Customer Lifetime Value

25

Focused Quality Can Significantly Increase ROI

25

Distribution of Quality of Customer Contacts

Random Sample + Speech Analytics = 100% View

• Low CSAT

• High AHT

• Holds, Transfers

• Silence/Dead Air

• Repeat calls

• Anger/Emotion

• High CSAT

• Complement

• Sale closer

• Retention

• New issues

• Objections

Form Comprehensive View of Customer Activity

Analyze interactions by contact reason

Provide unified reporting of customer activity

Assess conditions driving customers to high cost solutions

27 ©2011 Aspect Software, Inc. All rights reserved.

Identify Agent Coaching/Training Opportunities

Are we taking advantage of every opportunity to improve

agent productivity?

Customer Churn Prediction with Speech analytics

Identify Churn Signals

Calculate Churn Risk Score for each Interaction

Proactively reach out to customers at risk with retention offerings

29 29

Increase Sales

Conversion

# Calls

50 %

35 %

8 %

… and drive

conversion

… increase number

of proposals

Find how to reduce

none value calls

Improving Sales Conversion

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%57.6%

49.8%

32.8% 32.3%

23.5%

15.1% 12.9%

11.4%

6.3%

Average

Rate

Upsell

Success

Rate

“Can I have

another

moment of

your time?”

“you could

the earning

interest on

this balance”

Identify rate of success of each step

Pinpoint best and worst agents

Surface positive language and best practices

Key

phrases

In the call

Identify Frequency and Placement of Skill

Build rapport

early in call

Feature + benefit

better than feature

only

Monitor Compliance

Are we adhering to proper protocols on every call?

31 ©2011 Aspect Software, Inc. All rights reserved.

Convert Service Calls to Sales Calls with Speech Analytics

“Hi, I am moving in with my boyfriend

(we’re in November).

I need to change my address.”

getting married

Stated Topic

Hidden Opportunity

33

ROI $11.9M

Saved Revenue

$12.5M

Cost

$600,000

(Verint + Staffing)

• Analyzed “lost customer” interactions

• Built “At Risk” VOC Category:

– Ridiculous, You People, Looking NEAR Statement…

• Saved 86% of at risk accounts by reaching out proactively

• Total of 4500 accounts saved

• Initial ROI achieved within 7 weeks

Focus on What Matters Most To Your Customers and Business

Speech

to Text

Use Automation to Uncover Emerging Trends

Customer

Agent

Customer

Interactions

I got the new phone

model…it seems to be

dropping calls

frequently….I upgraded

my account to a family

plan because of the recent

promotion on the family

plan……..

I’m having trouble with my

phone….the data service

works fine but my new

phone seems to drop

calls…you guys should

have thought of that

sooner

I just recently bought the

newest phone

model…..the video

camera is great…the

internet service has been

spotty…my new phone

has been dropping a lot

of calls…

Movers and Shakers

Term Percent Change

new phone dropping calls

one month free

they’re overcharging me

recent tv advertisement

broken product in mail

cancel my account

trouble with form on website

376.1%

25.8%

5.8%

-8.6%

-18.6%

-21.3%

-23.5%

Discovery Analytics

Text

Analytics

Improve Collections Effectiveness

Why aren’t customers paying on time? Is our payment method

causing more confusion than resolution?

35 ©2011 Aspect Software, Inc. All rights reserved.

Speech Analytics – Analyze Beyond Spoken Words

Talk Over Analysis

Emotion Detection

Call Part Analysis

10%

10%

8% 15%

16%

10% 31% 31%

16%

37 37

Customers

Customers

Intelligent

Enterprise

Listen to Customers to Inspire Evolution

Bridge the gap between listening and action

Track Coaching Sessions to Measure Supervisor

Performance

Increase Market Intelligence

What do our customers think about our products and services?

39 ©2011 Aspect Software, Inc. All rights reserved.

Combine Speech Analytics Insight with External Data

Sp

ee

ch

C

on

tex

t

Misinformed

Frustrating

This is the 2nd time I’m calling

Phone

Web

Phone Survey

Keywords and Topics

Talk Over Analysis

Emotion Detection

Call Flow Analysis

Desktop Analytics

Customer Demographics

Interaction History

Customer Feedback

41

• 10-15% less repeat calls Increase First

Contact Resolution

• 10-20% less dissatisfied callers

Improve Customer Satisfaction

• 30-40% reduction in related calls

Improve Self-Service

• 5-15% increase in conversion

Increase Sales

• 10-25% less cancellation calls

Reduce Customer Churn

What ROI to Except ?

Business Pain Example ROI

Building Rapport

Being Courteous

Probing for Customer

Needs

Educating the

Customer

Create Urgency

Asking for the Sale

Automate the QM Process

Example: Critical Sales Skills Mapped Skill Phrases

How are you today

What’s the weather like

How long have you lived in

Build Rapport

Probe for Customer

Needs

What are you trying to do

What is most important to you

What are you looking for

Create Urgency

If you buy now

The prices are great now

We are having a sale right now

From Speech Analytics to Interaction Analytics

Speech Analytics

Determine Agent Skills that are Most Important

Key differentiators

to sales conversion

No

significant

impact on

sales

conversion

Even top performers are not

good at discussing benefits

Top performers follow sales

process significantly more than

bottom performers

Top and Bottom Agents: Skill Usage Comparison