Time to Eat Market Share: Call Center Analytics with Spice, Please!

Apr 06, 2020

Posted In: Business Intelligence Author: TCN

Sure, every executive wants their company to grow and prosper. Of course, not every executive gets what they want…

So, what does it take for any given company to grow and gain market share?

Clayton Christensen, the author of the influential Innovator’s Dilemma, said, “When you improve your product so it does the customer’s job better, then you gain market share.” (does this suffice?)

That’s the quest of every innovative, forward-thinking manager: How to simplify the customer experience. How can managers reduce customer’s effort in solving their problem down to zero?

One significant way is through data and feedback generated through call center analytics.

A manager successfully deploying the right variety of call center analytics is a lot like a master chef concocting a delicious meal with the perfect combination of ingredients.

Both are meant to win over customers’ hearts and minds.

Managers who experiment and discover the right call center analytics combos have the best chance of eating into a competitor’s market share.

Today we’ll reveal some of the key ingredients to creating a masterpiece “meal” that will have customers begging for more.

Speech Analytics – The Base

Managers in tune with the latest, cutting-edge cloud-based software understand the power of speech analytics. That’s why managers “in the know” rely heavily on a call center analytics strategy.

Consider it the strong base upon which managers build the perfect recipe for devouring the competition’s market share.

As legendary investor Warren Buffett famously said, “Rule No. 1 (of investing): Never lose money. Rule No. 2: Never forget rule No. 1.”

Call center managers know that making catastrophic compliance errors repeatedly is the fastest way to lose money. Call it an unforced error.

Speech analytics keeps the regulatory threat at bay by:

  • Recording and transcribing every call, allowing managers to analyze every customer-agent conversation for TCPA compliance issues.
  • Automatically redacting sensitive information (like account numbers) to remain PCI compliant.

This excellent call center analytics tool also drives the manager’s efforts to strengthen customer service.

Speech analytics senses silence, raised emotion, vocal pattern changes, hot button keywords, and more. Then, agents receive tips on how to improve a challenging interaction. This can help particularly skilled agents turn a potentially ruined communication into a customer for life.

It almost sounds like agents can read customer’s minds. Well, just consider it a secret ingredient that “makes” the dish.

IVR Tracking and Utilizing Customer Histories – Small Ingredients That Pack a Big Punch

By now, every kind of call center manager knows that setting up an Interactive Voice Response (IVR) is a no-brainer. The thing is, not all managers created IVR systems equally.

Some annoy and repel customers. They “set it and forget it” and don’t adjust their IVR based on feedback or call trends.

On the other hand, managers who use a comprehensive call center analytics strategy know tracking IVR responses is an essential step towards improving the customer experience or product.

As we learned earlier, improving the product and making the customer’s job easier is the path to eating up market share.

An IVR does this by giving customers the simple answers they need without needing to connect them with an agent. This saves agents and managers a ton of time and money.

And what if they do need an agent? The IVR routes the customer to the best agent available to handle their particular issue.

Consider it an essential but highly leverageable ingredient that could make or break the dish customers are consuming.

Similarly, regularly maintaining and updating customer profiles by integrating with leading CRM apps often leaves customers with a pleasant taste.

Agents who appropriately use this information shorten customer problem explanations and can solve their problems faster.

These potentially underutilized ingredients can have an outsized impact on creating an irresistible “plate” customers can’t say, “no” to.

Workforce Management Software – Bringing it all Together

How does a manager expertly combine different flavors of call center analytics into one coherent whole?

A whole that enables a manager to create the most efficient and effective call center and leaves competitors in seething envy?

Easy.

By deploying Workforce Optimization (WFO) software. WFO can:

  • Easily view all important agent KPIs like FCR, AHT, and more.
  • Track agent KPI improvements, opportunities, schedule adherence, plus more.
  • Utilize Speech Analytics to zero in on agent and customer dissatisfaction and how to turn it around.

WFO’s unbelievable capabilities make delivering excellent service and eating market share a more straightforward “dish” to master. With WFO, managers no longer have to do every job in the kitchen.

About the Author: TCN

TCN is a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide. Founded in 1999, TCN combines a deep understanding of the needs of call center users with a highly affordable delivery model, ensuring immediate access to robust call center technology, such as predictive dialer, IVR, call recording, and business analytics required to optimize operations and adhere to TCPA regulations. Its “always-on” cloud-based delivery model provides customers with immediate access to the latest version of the ClearTouch solution, as well as the ability to quickly and easily scale and adjust to evolving business needs. ClearTouch serves various Fortune 500 companies and enterprises in multiple industries, including newspaper, collection, education, healthcare, automotive, political, customer service, and marketing.