What is conversation analytics and why do you need it?

Your customer calls are a gold mine of insights that you can use to drive business growth. These calls can tell you a lot about customer satisfaction, service issues, how your agents are performing or how effective your sales campaigns are. 

However, considering the sheer volume of phone calls, it would be impossible to listen in and manually analyse them. Thankfully, there's a better option: conversation analytics. 

What is conversation analytics? 

Conversation analytics—also known as speech analytics— is used in call centres to analyse customer calls to gather data and insights. This can happen in real-time during a live call or by analysing voice recordings after a call. 

It uses AI technologies like transcription and natural language processing. Speech recognition software identifies certain keywords and phrases that come up in the conversation. It also analyses audio patterns to identify emotion, intent, or sentiment in the caller’s voice. 

With this advanced technology, you gain access to information that’s otherwise hidden within voice conversations and only accessible by listening to entire call recordings.

The importance of data quality and security 

Getting good insights from customer conversations hinges on the quality of the data. High-quality data ensures that the insights drawn are accurate and reliable, which is crucial for effective AI-driven customer service. Additionally, maintaining robust data security measures protects sensitive customer information during the analysis process, ensuring customer trust and compliance with regulations.

Organisations can benefit from speech analytics in a number of ways

So what do you do with this wealth of information from your speech analytics tool? In an effort to gain a competitive edge, organisations are increasingly tapping into speech analytics to increase ROI, enhance customer experience, and improve their operational efficiency. It also helps to categorise calls and manage compliance. 

A lot of the guesswork that long defined customer service, marketing, and sales is replaced with data-driven insights.

Let’s look at an example. An insurance company discovered that many customers couldn't find the button on the website to schedule an appointment. After analysing their call centre calls, they could detect this issue and solve it. The company adjusted its website and saw an increase in online appointment bookings and a decrease in call centre operations. 

The benefits of conversation analytics extend beyond the call centre to every department as a tool to drive growth and profitability. As the world of communication evolves, certain trends are emerging to transform conversational analytics from a 'nice to have' solution to a must-have investment.

Key features of speech analytics that will help you better serve your customers 

Speech-to-text

Speech-to-text converts voice calls to machine-readable text that can be further analysed. You can easily search for keywords and phrases by running queries in recorded calls.

Sentiment analysis 

This feature analyses the caller’s tone and identifies keywords to help you understand how a caller feels about something. This input is typically scored as positive, neutral, or negative.

Intent analysis

Whenever a customer calls in, they have an intention. They might need information, have a complaint or want to purchase something. Understanding their intent will help you better meet their needs. 

At Enreach, we provide you with live call transcriptions, which can then be leveraged for conversation analytics. 

Our system accurately transcribes phone conversations. This feature automatically turns spoken words during a call into written text, which appears in the dashboard.

Enreach connects with CRMs and other popular software to give you full telephony functionality—and real-time transcriptions—directly inside those tools. This allows you to leverage conversation analytics without the need to switch between windows and tabs. Here’s Enreach for Service Cloud Voice as an example:

The transcription Enreach provides work hand-in-hand with Salesforce's AI-powered assistant, Einstein. Einstein analyzes the conversations between customers and agents and quickly provides intelligent recommendations and next best actions in real-time during the call.  

The three pillars of AI in Enreach’s solutions

Enreach’s AI solutions are built on three pillars: advanced analytics, intelligent automation, and seamless integration. These pillars help deliver actionable insights and improve customer interactions.

Read more: AI in action: 3 ways Enreach uses AI to enhance customer service

Here are some important use cases for conversation analytics:

1. Improve customer experience 

Speech analytics help you monitor customer interactions and identify where your service agents can improve, so they always deliver exceptional customer service. When you analyse calls, you can uncover the most common customer pain points and train your agents accordingly. You can identify churn signals so you can reach out to customers with high churn risk scores and proactively make them an offer to keep them engaged and happy.

2. Increase sales 

Another common use case for speech analytics is to improve sales. With the assistance of AI-powered insights, sales teams can determine which methods result in successful sales, and train their reps accordingly. With more insight into the buyer's intent, common questions, and hesitations, your sales reps can supercharge their closing abilities. This data is also invaluable in identifying cross-sell and upsell opportunities.

In this context, tools like Outbound by Enreach offer targeted solutions to enhance the effectiveness of sales teams in outbound calling, leveraging the power of conversation analytics to drive sales performance.

3. Improve operational efficiency 

Making processes run smoothly will improve the overall operational efficiency in your call centre and, as a result, reduce costs. An example of how speech analytics can help is in reducing the effort that is associated with monitoring agent quality. It also helps develop customised training manuals for new agents and accelerates their onboarding process. Showcasing what customers and agents are saying on every call helps you spot patterns and easily identify where your process automation can be improved.

4. Managing compliance

Speech analytics software helps you ensure compliance with regulatory standards. You can make sure that your agents don’t deviate from pre-determined, compliance-ready scripts. And the software can automatically redact sensitive Payment Card Industry (PCI) and Personally Identifiable Information (PII) data from call recordings. This redaction can be triggered when the agent says words like “credit card number” for example.

Supercharge every conversation with AI

Enreach's AI-driven features allow businesses to supercharge every conversation by providing real-time insights and personalized recommendations. These features enhance the quality of customer interactions, making each conversation more effective and impactful.

Discover Enreach’s AI-driven features, from conversation analytics to intelligent call routing and real-time insights. Explore our solutions now!

Ready to unlock the value of conversation analytics in your call centre? 

Read our white paper, "The Emergence of Automation and AI for Customer Service." It's your ultimate guide to integrating AI tools into customer service. Packed with expert insights, successful strategies from real European businesses, and hands-on tips.