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Reduce Churn and Increase Customer Satisfaction with Speech Analytics

It’s no secret that excellent customer service is the key to increased business and revenue. According to Gartner, a mere 5% improvement in customer retention can increase business profits anywhere from 25% to 125%. Contact centers have emerged as an important strategic asset for many companies since front line agents have an immediate and significant impact on customer experience.

Contact analytics takes the raw data that is trapped in customer interactions like phone calls, emails, and chats and turns it into meaningful information that can be used to improve the customer experience and agent performance. Analytics systems provide incredible insight into all aspects of sales, marketing, customer service, and operations. Automatic scoring can reveal which agents are performing well, which are falling behind, and which customers are at risk for churn.

The case study featured in this paper from Matrix will discuss how a healthcare insurance provider used contact analytics to identify and remarket to potential “at risk” customers. Additional benefits of contact analytics will also be discussed, including a reduction in average handle times, a reduction in call volumes, and the delivery of performance feedback directly to agents.

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