Every customer has a story to tell. The way they speak during phone calls reveals a lot about them.
But agents lack time and energy to analyze and decode these calls.
Yes, customer calls are analyzed by auditors during the quality monitoring process, but they can only evaluate agent performance.
Identifying nuances in speech is a difficult task for humans. With the advent of speech analytics software over the last few years, it has become easier for call centers to analyze customer interactions and get tremendous insights that weren't available before.
With so many speech analytics solutions in the market today, choosing the right one for your contact center is difficult. Let's look at the top 10 speech analytics software in 2023.
Before we dive into the list, let's have a look at speech analytics and how it is beneficial in call centers.
What is Speech Analytics Software?
Speech analytics is the method of analyzing customer calls to extract insights that can be used by an organization to improve their experience delivery.
What technology is used for speech analytics?
Using natural language processing and machine learning algorithms, such software is trained to detect certain sets of keywords and patterns that rely on the tone used while speaking.
Speech analytics has various use cases in different industries. It is primarily used in customer support and sales to understand customers better.
Which is the Top Speech Analytics Software?
The rise of tools powered by artificial intelligence and machine learning has helped many organizations to push their products into the market. Out of the many that are available, let's look at the Speech analytics companies that have cemented their presence.
Salesken is a speech analytics solution that transcribes sales calls into real-time text. The software provides sales cues during the call.
Agents can use these insights to navigate every pitch into a successful one.
Convin.ai provides speech analytics that is bundled with their automated quality assurance software. The tool analyzes customer interactions and provides prompt feedback to agents.
Combining automated quality assurance with speech analytics helps the contact center increase agent performance much more effectively. Convin also has a mobile app for monitoring on the go.
Observe's speech analytics solution helps contact centers to provide targeted coaching to teams. The software mainly captures insights on compliance and coaching opportunities.
Observe helps the contact center to perfect their agent coaching process.
Primarily aimed at enterprise customers, Gong is one of the best speech analytics tools for revenue intelligence and sales training.
Gong provides agents with real-time sales insights and possible pitching opportunities to close a deal.
Genesys has its speech analytics tailored to market research. It is used in public, private sectors, and different industries.
The advanced analysis features provided by Genesys make it a suitable tool for understanding customer sentiment and competitor analysis.
Verint speech analytics provides business intelligence tools. Despite having transcription capabilities, Verint isn't explicitly used for coaching opportunities.
Verint helps in workflow management and flags compliance violations.
Callminer is one of the earliest speech analytics products in the market, serving enterprises in BPOs, Healthcare, and Insurance to name a few.
Callminer's speech analytics capabilities provide agent scorecards which can help improve agent performance.
Chorus focuses on sales intelligence use cases. The artificial intelligence algorithm transcribes text and then gives insights into sales outcomes.
Since Chorus can be integrated into various CRM solutions, calls can be linked with entries for a smoother customer experience.
Wingman provides real-time cues to increase an agent's chance of closing a deal. Their detailed sales intelligence helps provide an overall idea about sales effectiveness.
Wingman also has a mobile app that helps to have an eye on insights everywhere.
Voicebase markets itself as an omnichannel voice analytics tool. The ability to analyze every piece of customer data helps call centers find hidden data.
Voicebase is primarily used by enterprise customers.
Results first, payment later.
How do Speech Analytics Tools Help Call Centers?
A business that plans its experience delivery strategy based on the various actionable insights from speech analytics can see a lot of growth. Here are some of the different use cases for speech analytics call center software
1. Analyze Customer Interactions Better
Speech analytics can identify customer tone and sentiment by listening to recorded calls. This can be used to identify trends and patterns in customer behavior.
Analyzing customer interactions in such a detailed manner can help gain multiple insights that would previously go unnoticed.
2. Efficient Agent Training
The call center management usually gives agents a script to follow. While the script gives agents an understanding of what to say, there are discrepancies in the tone used by agents while talking to customers.
Some changes in tone can lead to a bad customer experience. Speech analytics helps agents to understand the areas where their delivery is weak.
Having such detailed feedback can help agents to improve their customer conversations.
3. A Closer Eye on Compliance
"86% of companies surveyed agreed that innovative digital technologies have helped identify compliance violations" - Refinitiv
Every contact center tries to ensure that agents don't cause any compliance violations. But it is an uphill battle that requires a lot of effort.
Speech analytics software can help contact centers alleviate these worries as all customer conversations are analyzed with these tools. This can help flag any compliance violation as soon as the corresponding conversation is over.
Having such a close eye on compliance can help agents to reduce such occurrences. Since every violation is flagged immediately, agents are promptly informed of these mistakes to avoid them happening again.
4. Improve Customer Satisfaction Levels
Using the various customer insights attained from speech analytics, creating a strategic experience delivery plan is easy.
These insights, which were previously unknown, is the missing variable for contact centers to improve customer satisfaction.
5. Comprehensive Competitor Analysis
Speech analytics software can be used to derive insights into competition.
These insights are gained based on how customers mention competitors, their pricing, or specific features. Using the tone and sentiment of the customer can give detailed insights into how users perceive the competition.
Choose the right call center speech analytics tool
With so many speech analytics software available on the market, call centers should do their research before investing in one.
The features offered by these tools vary, and it can often be a difficult decision to make. One of the best ways to understand a tool's performance is by trying it out for free. Don’t miss this opportunity!
Frequently Asked Questions
1. What are the Different Kinds of Insights Derived from Speech Analytics?
Speech Analytics can offer insights into customer behavior, their perception of competitors' products or services and even help with agent coaching. These are just some of the few insights it can give.
2. How do You Implement a Speech Analytics Solution?
Most speech analytics tools are cloud-based. They're integrated to the cloud directory so it can access customer conversations.
The software analyzes these customer calls and then provides insights that can be viewed by the agent as well as team leaders.
3. What are the Common Speech Analytics Use Cases?
There are various use cases for speech analytics in call centers. Speech analytics can be used to identify customer pain points, evaluate sales behavior, and identify opportunities for upselling and cross-selling opportunities.
For agent performance, speech analytics can reduce compliance violations and increase the efficiency of agent coaching.
4. How to Do Speech Analytics?
Leveraging the power of speech analytics in your call center is easy.
Once you’ve decided which speech analytics company to invest in, you should integrate it with your telephony operator or upload call recordings based on it’s integration capabilities. Once this is done, you can begin receiving the data from speech analytics software.
5. How to find the right free voice analysis software for your needs?
The first step to finding the right voice analytics software begins by defining your goals and requirements from speech analytics.
Once you’ve done that, you’ll need to research various speech analytics companies to find the right fit for your contact center. Once you think you’ve zeroed into a tool or two, you can test it by using a free trial.