In today’s competitive landscape, service providers are under increasing pressure to deliver more intuitive, valuable, and innovative solutions to their clients. Buyers are on the hunt for solutions capable of improving productivity and business performance. However, they also want the solutions they purchase to reduce long-term expenses, and inefficiencies.
Solutions which offer access to data can deliver a host of benefits to end-users. The more insights companies can capture from crucial conversations, the easier it is to improve the voice of customer, employee wellbeing, sales performance, security and compliance, as well as ensure retention, and increase revenue. However, old-fashioned transcription and recording services rarely offer the right functionality to generate a rapid return on investment.
That’s where AI comes in. With solutions for conversation intelligence, service providers can help users harness the most valuable data they have in new and powerful ways.
What is Conversation Intelligence? The Power of Data Enrichment
Contact volumes for service, support and sales are increasing. More than 40% of companies say they’ve experienced significant increases in demand since the start of the pandemic. Higher levels of communication lead to increasing volumes of conversational data.
This increased data landscape can offer amazing business value to companies, by providing behind the scenes insights into customer sentiment, intent, and perception. The trouble is traditional recording and transcription tools provide a fragmented view of the data landscape. Flat transcriptions and basic recordings lack context. They’re unable to track changes in sentiment, struggle with differentiating between speakers, and offer limited access to analysis and evaluation.
To make matters worse, these solutions often make it difficult and complex to search for critical terms within a conversation, and pinpoint potential compliance risks, trends, and opportunities. Conversation intelligence offers a solution to these problems.
Using natural language processing, machine learning, and deep neural networks, conversation intelligence allows users to better understand vocal conversations, and surface actionable insights from recordings. For service providers, conversation intelligence offers a new opportunity to create more value-added solutions for their customers, responding directly to the changing marketplace.
Michael Abenhaim, SVP, Sales & Solution Consulting, at Dubber, speaks of how Dubber’s AI conversation intelligence solution ‘Moments’ helps service providers. “Dubber recently launched the ‘Complaints’ feature, the first in our theme of ‘Voice of Customer’, which uses AI to automatically detect customer complaints and related issues within conversations, empowering organizations to rapidly gain insight into customer grievances and address them promptly. Going forward, Dubber has a robust roadmap and plans to unveil the first Moment in the ‘Employee Safety & Wellbeing’ theme to identify various forms of Abuse, as well as ‘Actions’ under the theme of ‘Sales Performance’.
This capability will listen for commitments made during conversations and automatically create associated tasks or reminders to follow up, AI that writes your meeting actions for you.”
The Benefits of Conversation Intelligence for Service Providers
In a world where buyer expectations are evolving, companies are increasingly looking towards service providers to access solutions that can save them time, effort, and money. Conversation intelligence solutions allow service providers to empower their end customers with more intuitive ways to leverage call data.
Here are some of the major benefits of conversation intelligence for service providers.
1. More Accurate, Contextual Data for End-Users
As mentioned above, traditional call recording and transcription tools can miss out a lot of the most valuable data points available in a conversation. They can’t define intent or sentiment in real-time, track the perception of customers throughout a call, or provide meaningful insights. In some cases, plain text transcription solutions can also make errors based on different languages and semantics.
Conversation intelligence solutions, leveraging the latest in natural language processing technology, can more effectively collect accurate data from every interaction. They can automatically detect the dominant language spoken, pinpoint different speakers in a conversation, and bring context into the analysis of discussions, with sentiment analysis.
What’s more, the best solutions can be trained and improved over time, using machine learning algorithms to enhance their accuracy and efficiency with every call.
2. Improved Searchability and Insights
With conversation intelligence solutions, service providers can offer their end-users a more effective way to track crucial data, through advanced search functions. Companies can reduce the time spent looking for essential information and metadata from hours to seconds, highlighting passages and keywords across conversations with a couple of clicks.
With improved search opportunities, companies can create more accurate records, produce better training strategies, and even highlight opportunities and risks present in each conversation. Service providers can then offer businesses an opportunity to build on this functionality, with automated notifications and alerts, issued to team members when certain words are uttered.
It’s possible to create workflows which automatically encourage team members to follow up on a call based on information shared in the conversation, or address incidents before they can escalate. Additionally, some AI solutions come with automated systems which can extract relevant data from conversations to apply to tasks and employee to-do lists.
3. Increased Service Opportunities
By providing customers with a more effective way to monitor and manage conversations in their workforce, service providers don’t just improve customer experience. They also open the door to new revenue opportunities and strategies for preserving long-term customer loyalty.
With conversation intelligence, service providers can give their customers the ability to drill down into crucial topics and trends within their organization, to find opportunities for growth. Based on these insights, service providers can offer additional help, guidance, or products to suit each user’s needs.
Using an intelligent platform, service providers can even offer additional managed services for business leaders, such as automatic anomaly detection, or advanced reporting and analytics. This leads to more valuable, long-lasting opportunities for companies looking to differentiate their service offering in a competitive space.
4. Enhanced Customer Experience and Outcomes
Finally, and perhaps most importantly, conversation intelligence gives service providers an opportunity to deliver truly phenomenal experiences to their customers. They can provide companies with the tools they need to ensure consistent compliance in their industry, with valuable search tools, anomaly detection, and context-rich insights.
Michael Abenhaim comments how: “Communication service providers globally are facing mounting challenges of commoditization and cost pressures, creating a need for fresh approaches to monetize networks, generate revenue, and increase customer satisfaction at the same time. Dubber enables service providers to consistently drive innovation and deliver value to their customers, helping them to understand and action intelligence based on outcomes produced through Dubber ‘Moments’ directly from their networks.”
Service providers can offer conversation intelligence to companies looking to boost employee productivity, giving them the functionality they need to eliminate delays and inaccuracies with automation. What’s more, service providers can provide companies with access to an ever-evolving ecosystem to help them achieve their goals, leveraging up-to-date APIs for ever-more valuable insights.
Using the latest in conversation intelligence technologies, service providers can ensure they’re effectively addressing the needs of their target audience, and helping them to achieve their goals.
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