Speech Analytics is Not a Luxury Anymore Why the best contact centers will be making speech analytics an important part of their operational excellence Richard Feinberg, Ph.D. Center for Customer Driven Quality Purdue University To download webinar go to

It important to understand the customer It is the path to customer satisfaction It is clearly one determinant of success It is the point of all business

Caller Satisfaction Related to brand image Related to company image Related to repurchase loyalty wallet share net promotion Retain customer for maximizing lifetime value

It’s the customer stupid ASA…talktime..schedule adherence…yada yada yada Contact centers do not help in customer acquisition, customer loyalty, increasing wallet share and achieving full lifetime value by measuring ASA They do it by maximizing caller satisfaction…by understanding the customer and sharing that intelligence

Listening to the Customer Is not enough to get to high satisfaction Hearing what the customer says and turning that into strategic intelligence and then acting on it may be enough Contact centers simply do not do this

Two things determine caller satisfaction First call resolution Abandonment rates That’s it…..

Caller Satisfaction is not the whole story What is the customer saying to you? Voice of the customer should be more than simply “high sat…low sat” It is in their words and speech that the next significant opportunity lies to understand the customer

Speech Analytics Analyze conversations Only used in coaching/monitoring and then thrown away You now can listen into all conversations and mine them The words of the consumer are heard without assuming you know

“Undiscovered Opportunity” You are spending millions and taking no advantage of the richness of what you have Your contact center is generating powerful data but the data is not generating powerful insights

Here is what I believe speech analytics does for you Greater understanding of the customer Fewer lost customers Greater lifetime value Cost reduction Greater contribution to organization

Can I guarantee ROI for a speech analytics program

Yes…if If effective implementation If vendor has a technology that works as promised If vendor has experts who can guide If conversations become intelligence If Intelligence leads to action

If the Goal is Excellence You don’t get there by fast answer alone or at all You get there by maximizing caller satisfaction You get that by understanding the caller and turning that into action Speech analytics is a new power of understanding that has not been available to us

Listen to…learn from…get actionable strategic intelligence from your customers by analyzing their conversations in ways that no other available technology allows

The best contact centers will be making a speech analytics program an important part of their operational excellence

Comments… questions in any form…at anytime...in anyway Richard Feinberg, Ph.D. Department of Consumer Sciences Purdue University West Lafayette, IN