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Customer Conversations are a Valuable Asset - How Is Your Company Leveraging Them?

In this article, we discuss how customer conversations can be a valuable asset for companies that record and transcribe them to make sense of their content. Companies that can listen to and understand customer conversations have the opportunity to provide better service, make better predictions, and overall engage their customers more effectively. Learn the benefits of leveraging insights customer conversations inside your business.

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By Elliot
July 3rd, 2021

Captured customer conversations represent both a challenge and an opportunity for companies. It’s a challenge because historically, before the advent of AI systems, the recording and transcription of customer conversations was time-consuming and expensive, and many companies are not yet familiar with how to deploy these systems that automate call and meeting capture. It’s an opportunity because once these conversations are recorded and transcribed, they become an asset for the company. This valuable asset gives you access to insights that will allow you to improve your customer service, predict future behaviors, and reduce risk of unhappy customers.

How can your company benefit from capturing customer conversations?

By listening to customer conversations and making sense of them, companies can increase their emotional intelligence and improve their ability to understand their customers, predict future behavior, resolve issues more quickly, and reduce risk of losing customers to competitors. Here are a few ways customer conversational data (recorded calls and meetings) can be used to enhance your business:

1. Improve understanding of customers by capturing sentiment

Recorded calls and meetings can provide companies with a high level understanding of their customers by capturing sentiment expressed in customer conversations. These systems can analyze customer conversations and identify positive, negative, and neutral statements. The value of this information is that it provides companies with a high-level understanding of what their customers are thinking, in order to better understand customer needs and attitudes. This understanding can then be used to better target marketing campaigns, improve products, and engage in more meaningful conversations with customers.

2. Improve response time

Analysis of customer conversations can also provide companies with a better understanding of the customer issue at hand, so that they can resolve it faster and more efficiently. Traditional keyword searches can help find relevant pieces of conversations, but they don’t offer a complete picture. AI systems that understand human language can search the entire conversation for specific issues that cannot be expressed in a keyword search, as well as analyze overall sentiment to determine whether the topic is positive or negative. This enhanced insight into the issue allows agents to quickly resolve more issues.

3. Improved emotional intelligence

Customer interactions can provide a wealth of emotional intelligence for companies. They offer insight into how customers feel about your company and your products or services. AI Call and Meeting capture solutions can provide insights from each customer conversation, which represent the overall tone and attitude of the customer towards specific topics. This information can be used to determine if customers are happy or unhappy with a particular situation. Once you know this, you can work on resolving their issue quickly or talk to them about how you can improve your products or services to meet their needs.

4. Real-time predictive insights

Reviewing customer conversations not only provides you with insight into how you are doing now, but it can also provide predictive insights into how you will be doing in the future. Companies that make sense of their customer conversations can use this information to predict future behavior. These predictive insights can help companies anticipate upcoming trends and gain a competitive advantage over other companies. This information give companies the opportunity to preemptively address issues and ensure the longevity of their business.

5. Increase customer satisfaction

Customer conversational data can also be used to improve your customer service and increase customer satisfaction. As previously mentioned, systems that capture and analyze customer calls can often provide you with a “score” that can be used to determine if the customer is happy or unhappy with specific aspects of your company or product. Once this information is known, you can work on resolving issues more quickly, address their needs more effectively, or do whatever else is necessary to keep the customer happy. You can also use this information to create training modules for new employees on how to best serve your customers. 

How do customers feel about having their conversations recorded?

In most SaaS or Enterprise businesses today, call recording has become increasingly common. We recommend that you make sure that customers understand why your company records conversations. Companies can communicate with customers before they record the conversation, which helps customers understand that the recording has been done for their own benefit. A customer who understands why his or her conversation is being recorded will be more likely to provide useful information in these situations.

How do I deploy comprehensive customer conversation capture and analysis in my company?

The first step is to deploy a solution that can capture the conversations your company has with customers. These solutions can also be used to capture internal conversations for employee training and management. You can deploy solutions like Hyperia that provide you with a comprehensive solution to capture, store, index, and analyze customer conversations. Hyperia is an end-to-end meeting capture and analysis solution that is used by companies of all sizes across various industries. It supports multi-channel call recording, dashboards, analytics, automated compliance, calendar integration, and much more.

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