Utilizing Customer Insights for Revenue Growth: Are You Listening? 

Utilizing Customer Insights for Revenue Growth: Are You Listening? 

Listening is a top priority of agents in the contact center, one of the first questions in any interview pertains to how well a candidate or agent listens. That skill will always be needed at the micro level when fielding calls from customers and listening to understand and resolve the issue at hand.  

What if you could save thousands, add additional products that you knew would work before even launching those products, and increase profits without adding headcount? Don’t you like it when articles ask you questions you know the answer to?  

The reality is that is possible right now, the data is there to be mined, cataloged, and put into action to drive revenues at your organization. Every day your customers are telling you exactly what you should be doing to increase revenue and profits, however, you may not be dialed in to take action. 

The Wheels of Innovation Turned Slowly Back in 2021 

Think way back to 2021, before AI was a mainstream term in the contact center industry. For an innovative idea to come to fruition, there was a lot that went into making it possible. Interviewing agents, customers, and focus groups. Then, taking those answers and findings a company would build an offering to test, tweak, and either roll out or squash.  

There was a lot of guessing, educated guessing based on feedback that agents and the quality assurance team heard. Almost a secondhand or translated account of what the customer is asking for. One of the many flaws with this method is that the biggest priority is often not what gets addressed.  

Usually, priorities were based on: 

  • What the most well-spoken or loudest agent says gets addressed.  
  • What the most assertive agents, or detailed agents remember is what gets handled.  
  • What the most tenured agents feel gets more priority.  

The Guessing Game is Over Thanks to Conversation Intelligence  

There is no more guessing what a customer wants or needs, they tell you every second of every day in every conversation. The customer is telling you so many things however the agent can only recall a handful of the conversations. Your QA can’t possibly keep up, it is not humanly possible.  

Conversational Analytics record, catalog, organize, and create action items from daily conversations. Those conversations are aggregated from different locations and segmented however you would like the data to be collected.  

Some of the insights your customers are telling you that you may or may not be capturing are:  

  • New products they would like to see 
  • Common flaws in current products that could be fixed  
  • Identifying self-service options and FAQs that you don’t know about 
  • What your customer calls something versus what you call that product   
  • Conversation commonalities and differences by region, demographics & more 

Capture, Analyze, and Prioritize 

One of the many advantages of implementing conversational intelligence is that the decision is democratized within the organization. There is not a lot of room for one person’s “gut feeling” to supersede another’s findings or preferences. The numbers never lie.  

Capture: That is the first step in the process. Simply capturing the information through conversations utilizing cutting-edge AI solutions like Observe.ai. Just focus on capturing the data.  

Analyze: What is the data telling you? What patterns are developing that you can identify? This is where it gets interesting as assumptions will be confirmed and dismissed all at once. Listen to the data, it is telling a story about your company, brand, and customer experience.  

Prioritize: With the information, issues, and opportunities identified it is imperative to prioritize those. The data tells the story and what needs addressing based on the frequency. Think of this in terms of what is causing revenue loss, what revenue opportunities could be gained, automation based on frequency, and more.  

The Best Teams Constantly Analyze and Improve  

Just like the top professional sports teams analyze every single play they run, you can also analyze every contact made. Playing the Monday Morning Quarterback role for your contact center with the help of AI.  

Even if a customer hangs up or disconnects from chat before an agent has the chance to help, the root of the issue can be identified and remedied with AI. It is no secret to leaders in the contact center that there are so many missed opportunities to automate and become more efficient. Now, acting is more possible than ever.  

Your contact center could be sitting on a goldmine of insights that pave the way for an unprecedented growth trajectory, thanks to conversational intelligence. Now, the question is, are you ready to listen?  

Playing Monday Morning Quarterback in The Contact Center 

While taking thousands of interactions and aggregating that information is something we can help with, we also are taking calls one by one and highlighting strategies that can improve the customer experience in the contact center with our new series on the Inflow Experience Podcast. Have a listen, or watch as we tackle common contact center issues and offer advice on how to automate, leverage solutions, and more every Monday Morning this fall!  

Navigating the world of AI in the contact center can be overwhelming, especially given the challenges your company is facing. Reach out to our team of experts, we understand and live in this world every single day. Regardless of AI’s ability to listen to conversations in bulk, our process of focusing on you & your needs first will never change.