Tell me what’s wrong with this picture: Your contact center records every customer interaction—a goldmine of insights, preferences, and unmet needs—only to let them collect dust in digital storage. At the same time, your business invests millions in market research and customer surveys to help drive revenue growth. The irony? These cobweb-collecting conversations hold real-time insights into customer pain points, purchasing decisions, and product and service feedback.
So why are companies treating this valuable source of information as mere transactional logs? What revenue-driving opportunities are they missing out on by ignoring this rich source of customer intelligence? What can they do to effectively tap into this wealth of insights to help them advance their customer experience, drive contact center impact, and grow the overall business? This blog provides answers to these questions and more.
Why are insightful conversations ignored?
There are many reasons why extracting meaningful information from daily interactions is challenging for many contact centers. But at the core, it boils down to three factors: resources, complexity, and unique insight needs.
Since a contact center's primary mission is to provide quality service and customer support, many organizations prioritize staffing customer-facing roles, putting the QA team in a tough position. Being forced to support multiple teams, QA specialists face ratios of 1 QA specialist per 25 to 45 agents, making it impossible to manually analyze every single customer conversation. It’s a sheer numbers game, and the QA team is losing. That’s why most contact centers QA a fraction of all interactions, leaving a lot of valuable insights that could positively impact their bottom line on the table.
Staffing concerns aside, the rapid adoption of multi-channel communications and industry-specific complex interactions add to the conundrum. A customer may begin interacting with a company via chat, move to email, and eventually connect to a live agent. This creates an overwhelming volume of unstructured data. In addition, the advanced CcaaS solutions utilized by many contact centers fail to accurately transcribe conversations due to industry-specific terminology, diverse accents and regional dialects, and varying speech patterns. This inaccuracy now forces humans to manually listen to conversations to decipher what was actually said.
Last but not least, to translate insights into revenue-driving actions, the contact center must be able to produce specialized reporting by function. The insights that the sales team would find beneficial will significantly vary from the interests of marketing, product, and leadership. There is some reporting, but it’s limited to rule-based, exact content. But if the technology you are utilizing doesn’t account for nuanced human language and is already struggling to capture spoken language accurately, the potential of missing crucial information is tremendous. That’s why many businesses spend money on market research, focus groups, and surveys to get the precise results and information they seek.
But there are many reasons not to give up pursuing conversational intelligence.
Insights worth the trouble
Today, your conversations contain helpful information that can positively impact your immediate quarterly financial standing and trend data that can shape your business's long-term strategy and profitability. They also contain information that you may not have even considered. Some exciting, revenue-boosting insights include:
- What objections are customers raising during sales, and which rebuttal statements effectively overcome them
- Which doctors are your members frequently requesting so they can be added to your network of providers
- What products, services, and features are customers asking about so we can include them in our portfolio
- Which customers prefer to upgrade their flights so we can proactively offer an upsell
- What competitor products are my customers mentioning
- Whether unintended biases hinder sales
- And more
In addition to the depth of insights, you are also capturing the voice of the customer in its purest form. Untainted by biased summarization and interpretation and free from any limitations that may constrict free speech, you are getting honest, unfiltered perspectives along with contextual information that helps you see the full picture to take appropriate and effective action. Ignoring the richest and free source of customer intelligence is not an option. So, how can you effectively capture meaningful insights, including those you may not realize you need, and make them instantly actionable?
Capturing your revenue-boosting insights with AI
Remember the seemingly impossible blockers we previously mentioned? AI-powered conversation intelligence technology can easily overcome all of them.
You can leverage your existing team to analyze 100% of conversations by automating the majority of the QA evaluation process. AI automatically analyzes the entire conversation, matching specific points of a conversation to details required in the evaluation. Now, QA members only have to listen to small fractions of a conversation. AI can even prefill most of the evaluation form, leaving leaders to fill in a few gaps.
Conversation intelligence also connects all the data across all channels to create a seamless picture of a customer’s interaction journey across email, chat, and voice calls. Additionally, contact-center-specific AI technology is trained on industry terminology data and fine-tuned to accurately capture spoken words to ensure all information is correctly transcribed, which is crucial for reporting and analysis.
Speaking of reporting, conversation intelligence captures and summarizes relevant information in designated dashboards and custom PDF reports that are automatically emailed out to relevant stakeholders on a predetermined basis. But the insights don’t stop at rule-based analysis. Because the AI captures every word of a conversation and understands contextual and sentiment details, anyone can leverage its ad-hoc GenAI search capability to analyze the data and investigate trends, test hypotheses, and understand what works and doesn’t in their business. Marketing could learn if their customers mentioned their latest promotion. Sales can learn if their competitor's price is hurting their sales figures. Leadership can see a trend in promise-to-pay objections to redefine their agent approach. Getting answers is as simple as asking a question, and trusting the answer is easy when it’s backed by a link to relevant data that can be verified.
Your next revenue boost awaits
Your customer interactions are complex, but benefiting from their insights doesn’t have to be. Your businesses can gain unparalleled insights into your customers’ wants, needs, and pain points by empowering your contact center team with the right AI-powered technology. Because these insights are based on your collected conversations, you get unfiltered, unbiased clarity into revenue-boosting strategies that will positively impact your revenue. No external report can provide that, and no competitor will be able to benefit from these insights either.
So what are you waiting for? Put AI-powered conversation intelligence to work and watch your sales increase, your customer life value (CLV) grow, and your business thrive. Because companies that pay attention to their customers’ conversations and take the appropriate action will have the secret formula for long-term success.
Check out our Sales and Revenue page to learn more.
