We are living in the era of information overloading. There has been a flood of data ever since the internet boom and the more you soak yourself in it, the better your chances are to perform. Individuals, companies, businesses adopt different practices to gather as much relevant information as they possibly can to make an impact in their respective realms. One such approach of gathering relevant data and then using it for personal gains is through conversational analytics.What is customer conversational analytics and how can it be useful to boost sales or revenues of businesses? This and alot more is stored for you in this blogpost.
What is conversational analytics?
Anyone who has ever been to the home of startups, Silicon Valley or has some interest in technology or is a tech geek knows the influence artificial intelligence has these days and can clearly foresee a future where artificial intelligence will penetrate in pretty much every facet of our lives.
Conversational analytics is one such approach powered by artificial intelligence through which the speech of human beings is recognized, assessed, and then categorized and arranged in a way that useful information or relevant information can be extracted out of it. Now since you have gotten a brief idea of what conversational analytics is, let’s get into the scope of our blogpost which is the customer conversational analytics.
A dive into the customer conversational analytics:
Any business, company or an organisation whose nature of work is based on customer interaction can benefit the most from this breakthrough technology of customer conversational analytics.
Be it a sales pitch, self branding, promotional spells or other gigs of such kind, customer interaction is the nucleus of all these activities.
Customer conversational analytics allow you to not only recognize the speech of your customers but to also assess it and organize it in a form you can extract useful information out of.
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Any examples to better explain customer conversational analytics?
Let me state an example to help you better understand how the customer conversational analytics work:
Suppose you are having a conversation with one of your friends about the effects of global pandemic and how digital marketing has boomed as a result. In the 2 or so minutes of conversation you’ve had, if you’re focus was on the boom of digital marketing and customer conversation analytics will help you extract out all the relevant information out of that 20 minutes conversation you’ve had to help you utilize that information in whatever way and form you feel like is beneficial to you.
Hopefully, you have a good idea of what customer conversational analytics is. Now let’s get down to see how this technique works and make your efforts work as well.
Get to know your target audience better with customer conversational analytics:
In order for you to communicate effectively with someone, it’s immensely important to know them first. Without knowing the person, their inclinations and perspectives, you can never really communicate effectively with them or even try to convey your perspective to them.
Customer conversational analytics fill out this gap for you. They help you understand your prospect or potential clients and connect on a deeper level and gives you a better understanding of what their inclinations are and how you can manipulate it for your personal gains as company, business or organisations trying to sell their goods.
Now knowing how customer conversational analytics help you connect better with your target audiences, I think it’s pertinent to get down to the mechanism through which it works.
NLP and Customer Conversational Analytics:
As stated above, customer conversational analytics make use of artificial intelligence to extract useful information and relevant data out of speech or text. This is primarily done through the Natural Language Processing, a subfield of artificial intelligence which serves as a rendezvous of linguistics, computer sciences and artificial intelligence. Customer Conversational Analytics use NLP approach to establish a connection and interaction between computers and human beings which allows it to process and manipulate the large amounts of data it receives in the form of natural language.
This data is received through various mediums. Customer Conversational Analytics allows you to receive data from your customers through various channels of communication such as phone calls, text messages, voicemails, emails or even live chats. The data received through these and many other communication mediums is then processed by the customer conversational analytics through the NLP which helps extract relevant and useful data out of those conversations.
This data received through customer conversational analytics then allows the companies and businesses to get an idea of their customer preferences and inclination which helps them mold their products and services to better suit them.
How can customer conversational analytics improve customer experience:
Customer conversational analytics as explained above helps you extract out useful information received through various channels and streams of conversation. This data tells us about a lot of things out of which some are:
- Fault lines in our current methods and procedures
- Suggestions and recommendations to improve our products and services
- Insightful information which allows us to connect deeper and communicate effectively.
The information gathered through the process of customer conversational analytics lifts the veil from a lot of things and uncovers many factors which can help us improve ourselves to better fit with what our potential customers or target audience is actually looking for.
A lot of times despite putting in a lot of effort into our products and services isn’t giving us the expected outcome. The possible reason in many cases for that is very obvious, and it is that we are good at what we’re making but not good at understanding what is needed. Regardless of how brilliant our product or services are but if they do not precisely address the needs of the customer, they are of no good. Customer Conversational Analytics saves the day for us as the data extracted through it from various streams of communications allows us to figure out those fault lines and thus helps you in overcoming them.
Similarly, the data also helps you to make necessary changes and alterations to your products and services to not only make it suitable to your audience but also improve it beyond their requirements.
Apart from that, empathy in communication is inevitable if you want to retain your customers. And to establish that level of empathy and understanding, customer conversational analytics play one of the most significant roles by helping you get a deeper sense of what your target audience’s preferences are and how you can change yourself and your procedures and policies to be the right fit for them.