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The importance of “listening” to the customer is critical for any organization. The feedback provided by existing customers/clientele through various mediums is crucial, since the “voice of the customer” is the key. The way stakeholders perceive and respond to underlying responses often dictates the way forward on nurturing existing and prospective customer base. Regardless of the size of the clientele, it pays to record and respond to customers pro-actively.
The “power of harnessing speech” to draw business insights is best answered using technology. Speech Recognition comes to the aid of management looking for intelligent and accurate information mined from customer interactions. Speech Analytics based tools can be the ERP partner in solving customers’ problems. Let’s see how Speech Recognition as a technical intervention helps in customer retention and adds impetus to Brand Loyalty.
Customer Retention
Speech Analytics is programmed to swiftly run through thousands of call recordings and offer real-time analysis on various fronts such as customer satisfaction, challenges using the products/services, pricing and cost concerns, etc. By having fine-tuned data in the form of a dashboard, time-sensitive business decisions can be made in the following aspects, much to the delight of the customer.
- Ascertaining customer feedback on the offerings becomes easy. By knowing what they want, the product/service can be tweaked and customized as per the requirements.
- Handling Grievances/Complaints is one critical area which needs sensitive handling. By having a ready reckoned from the interactions, it becomes easy to address issues in an amicable manner.
- Most importantly, it helps in educating and training customer-facing staff, to help them in being better prepared and aim at first-time resolution.
Brand Loyalty
In the wake of stiff competition which often lures a consumer to switch brands, it’s paramount to have a solid base who not only trust your brand but also promote the products as a mark of loyalty. By using Speech Analytics, intriguing insights (which often go unnoticed during customer interactions) can be harnessed to create a pool of highly satisfied customers. Such an elite base contribute to brand visibility & promote through referrals.
Click to read more on how Speech Recognition helps in Business Augmentation, Increase Profitability, and Cost Optimization.