In a data-driven world, the contact center and its customer interactions are becoming an increasingly invaluable resource for businesses. The business insights that can be drawn from customer conversations can largely benefit various departments and stakeholders within the organisation, from Compliance Management and IT Admins to Legal, Marketing, and Team Leaders.
In a recent chat with Britta Chiaia, Product Manager at ASC Technologies, we discussed why businesses should leverage insights from customer conversations, and how they can do it using ASC’s Recording Insights platform.
Better than Market Research
Traditionally, to receive business-critical feedback regarding various aspects of the product or service, businesses would (and still do) opt for market research, focus groups, or customer surveys. While these methods can be valuable, they also come with a fair share of limitations, most of which can be bypassed by drawing the same information from the contact center.
“Typically, the information that businesses get from these traditional methods can be gained in an easier, less expensive manner by simply listening to feedback that already exists in their customer interactions,” Chiaia explains.
So, what are the main benefits of gaining insights from customer conversations, as opposed to doing it using the traditional methods?
Direct and Detailed Insights: Customer conversations help gain deeper and more detailed insights into customers’ needs, wants, and issues.
“Through personal interactions, you can ask more specific questions and obtain more detailed answers that often go beyond what standardised surveys provide,” Chiaia notes.
Real-time Feedback: With customer conversations, businesses receive immediate feedback, allowing for quick responses and adaptations. This can be a significant advantage, especially in dynamic markets.
“Market research must be planned for a long time, and then, when you start to work with the feedback you get there, it’s already outdated,” Chiaia explains.
“The complaints and suggestions for improvement received through contact center interactions are delivered in real-time, enabling to address and implement them directly.”
Cost Efficiency: While large-scale market research studies are often expensive and time-consuming, customer conversations can be more cost-effective.
“The truth is, if you just listen to the customer, he or she is often telling you exactly what they want or need,” Chiaia says.
“By analysing information from customer interactions, businesses can access feedback directly and without using extensive resources, simply by utilising their existing communication channels.”
Adaptability: As opposed to studies and surveys that are often standardised and less flexible, customer conversations are highly adaptable.
“Businesses can easily adapt conversations to their current challenges and specific goals.”
Trends and Upselling Opportunities: Information from customer interactions can also be leveraged to detect market trends, as well as provide indications for upselling opportunities.
“The information from these interactions can be translated into ‘selling power,’ for the business, both on the micro and macro level,” Chiaia notes.
“On a micro level, for example, businesses could ‘recycle’ successful sales pitches by one agent with the other agents, and on a macro level, Marketing can leverage insights from customers to enhance marketing communications.”
Leveraging Customer Conversations with Recording Insights
With ASC’s Recording Insights, businesses get to access a detailed overview of the topics that arise in their customer conversations, whether it’s product issues, service complaints, common questions, or any other type of feedback. While officially a ‘compliance recording solution,’ Recording Insights offers AI-driven conversation analysis capabilities that extend much further, with a clear, actionable topic segmentation.
“Using our solution, our enterprise customers get to tap into a true treasure trove of insights drawn from information that’s already right there, just waiting to be analysed for business purposes,” Chiaia says.
“The potential of these insights can be transformative for almost every business department, whether it’s customer-facing or more on the back end, so, not using it would be a true waste.”
To learn more about ASC’s Recording Insights solution, visit their website here.
