Business

More than Another ‘Cost’: Why Call Center Analytics Matter and How to Use It to Generate Revenue

Published June 15, 2021·Written by Andrea Evangelista

Call Center

Customer contact centers can be a profitable resource for companies if call center analytics is leveraged correctly. Discover the value of contact centers and how to analyze call center data.  

 

Call centers are more than just a ‘cost center’ and a place to leave customer voicemails. Thanks to advanced technologies, call center analytics have made the business department itself more valuable than ever before. When used effectively, contact center data can help companies generate revenue. 

However, many brands still question how exactly to leverage such data to turn their customer care centers into a profitable source of income. So, we’ve helped explain the value of call center analytics, including why it’s more than just an extra company cost or a place where customers go to complain. Then, we summed up three main effective ways to analyze call center data to generate sales.  

Why Call Center Analytics Matter

Nowadays, call centers are often perceived as “another company cost.” Agents are more pressured than ever before to take on extra obligations, such as cross-selling, up-selling, enrolling in required job training due to higher demand for advanced skills, and handling the increasing complexity of problems associated with new shopper behaviors. 

Therefore, more spending or tools are needed to support these agent responsibilities, which can become daunting and hefty business investments if not organized and facilitated properly by call center management. Plus, customer care centers are often thought of as ‘contact’ centers because calling is the primary way for customers to connect with a brand. 

Call center analytics come in as a highly effective technological solution. It involves using the data generated within contact centers, such as call transcripts, to provide insights that would otherwise be impossible to identify. 

For example, one major way of showing the positive effects of proper call center analysis on higher revenue is through success stories of agents. Some calls will successfully achieve business goals while inevitably, others will go awry. In this case, decision-makers would aim to find ways to empower agents in their roles to provide better customer service.

Historically, there’s been a lot of necessary guesswork. Yet, through the power of analytics, the contact center can gain insights into precisely what happened during specific calls that make them more successful than others. Specifically, analytics now grant companies the capability to detect what exactly was said on the phone and the syntax used by the agent at the time. Plus, analytics can monitor how the call progressed, pinpoint what tactics made certain upsells successful, and more.

From head to toe, every agent throughout the firm would be able to replicate successful results. In the long haul, the deep analysis of those root causes can lead center managers to create a specific (and profitable) business model. 

Source: Liveops

How to Use Call Center Analytics to Generate Revenue 

Prioritize the EX Metrics 

The employee experience (EX) is a type of call center analytics that may seem underrated because measuring work quality is usually less discussed than improving the customer experience. However, EX metrics are just as important because what drives customer success is not the latest chatbot or answering machines; it’s real people helping real people. 

Another common struggle of call centers is their high agent attrition rates or employee turnover. And reduced agent experience and expertise can lead to less cost-effective strategies because more hiring and training of new replacements would be needed. 

According to Forbes, brands with successful customer experiences carry 1.5 times more engaged employees than the less-customer-focused firms. So, company culture is strongly tied to happier employees, especially those who value customer service. 

Therefore, companies should consider prioritizing the EX metrics more to improve the work environment for call center support agents. For example, consider: 

  • Delivering proper new hire training using a combination of online and offline approaches while existing agents should regularly receive refresher materials 
  • Deploying Voice of the Employee strategy
  • Ensuring senior management is available and approachable 
  • Offering flexible work options (i.e., remote work)
  • Rewarding agents with positive reinforcement or incentives for hitting specific goals 

High EX rates can help cut costs, save time, drive customer satisfaction, and ultimately increase revenue. 

Understand Consumer Preferences

Analyzing call center data goes beyond simply surveying customers before and after interactions. It further involves understanding their preferences. Through active listening and empathy, call centers will better offer complementary services, such as when asking customers for their primary and secondary methods of communication (e.g., phone, live chat, email). In turn, relationships are strengthened and ultimately leading to the potential increase in revenue.  

Also, with emotion analytics becoming increasingly available in practice, data analysts will now better study the ‘why’ behind consumer behavior. That is, understand the customer sentiment and measure certain emotions that drive purchase decisions. Therefore, agents will not only hear from the customers on how feel about specific products or services, but they will have data to confirm. 

Collect Customer Feedback

Among the many different ways of effectively analyzing contact center data to generate revenue is by collecting consumer feedback, which is also by far one of the top methods. Whether it’s through online surveys or over the phone, asking and seeking shoppers’ opinions not only helps improve call center processes but demonstrates that your firm values customers.

For example, the act of asking buyers what they think about the agent from a recent call may be a way to measure the customer satisfaction score. Consequently, the score helps to determine whether specific processes need improvement, further resulting in potentially higher earnings for excellent customer service.

Wonderflow Turns Your Call Center Data Into Profitable Decisions 

Customer care and contact centers provide more valuable insights than many would think to help improve products and services. With Wonderflow’s analytics, call centers can become a more profitable resource than just a cost center. In fact, one of our use cases involve success with call centers

Our solution is the most useful and accurate call center text analytics because our highly skilled linguistics team is paired with world-class artificial intelligence. From the raw data analysis to closing a deal, our powerful analysis moves crazy fast while involving all the proper departments to obtain balanced insights. With Wonderflow, companies will be empowered to”

  • Link quality call-center-data analysis with happier customers
  • Create action plans to transform insights into sales
  • Extract valuable insights from transcripts of all phone calls

Learn more from our Call and Contact Center solution page and try a free demo today

 

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