March 19, 2019
Real-Time Speech Analytics technology understands phone conversations and automatically alerts reps with the best things to say, live on each call. As opposed to traditional speech analytic solutions that illustrate call data only after the fact, Real-Time Speech Analytics guide calls as they occur.
Post-Call Speech Analytics:
Post-Call Speech Analytics dashboards provide insights for managers, quality assurance personnel, and other leadership groups. Post Call Analytics are manager facing and provide insights after the fact.
Real-Time Speech Analytics:
Real-time Speech Analytics provides rep's in-call guidance while they are live on calls. Real-time insights are rep facing and illustrate mistakes in the moment, when saving the conversation is still possible.
Real-Time Speech Analytics’ biggest draw is its ability to guide reps live in-call before the opportunity is lost . Conversely, post-call solutions, while valuable, only illustrate conversation mistakes after the fact and when the damage is already done.
Put another way; Real-Time Speech Analytics ensure phone reps say the right things in every conversation. It's the delivery mechanism for coaching insights - effectively ensuring reps are using the best conversation techniques possible.
Why Real-Time Speech Analytics Matter:
Real-Time Speech Analytics ensure that reps use effective conversation techniques on every phone call. By extension, it ensures teams use consistent, high-quality messaging when communicating with callers.
As the image illustrates, Real-Time Speech Analytics is the support mechanism for great calls:
Gather - Speech Analytics analyze phone conversations and extract key call coaching insights, which are presented via manager dashboard.
Train - Manager’s use those call insights to improve conversation coaching and messaging for their phone teams.
Enforcement (Real-Time Speech Analytics) - Through immediate reinforcement, Real-Time Speech Analytics ensures reps actually use their coaching and training.
Organizations that value high-quality phone conversations gain the most from Real-Time Speech Analytics. Specifically, the call’s value is what matters - as the value increases, so does the need to get every single conversation right. With this in mind, here are three fairly common call environments in which Real-Time Speech Analytics is utilized:
No. User customers span the gauntlet, including contact center agent, call center reps, sales development reps, collectors, support agent, and even nurses. The higher the value of the call, the more valuable tools like Real-Time Speech Analytics are.
By nature, reps interact with Real-Time Speech Analytics more than most other technologies; as a result, it helps improve conversation performance quickly.
However, this technology must be rolled out properly. After all, no rep wants or be constantly alerted with unhelpful suggestions. You should make sure your vendor has specific knowledge of your use case and clearly defines a key performance plan to ensure your real-time speech analytic solution is helping on every single call.
It depends on the technology vendor, but sophisticated solutions should not require programming experience and should be designed to work within dozens of different call environments. More nuanced alerts - like competitor names or medical terminology - can be activated by a manager or the vendor's Account Manager as necessary.
It depends on the technology vendor, but in Balto’s case, integrations usually take between three business days and four weeks for standard use cases. Make sure your vendor guarantees integration times.
It depends on the vendor; some are more flexible than others. At Balto, we don’t have minimum contract sizes and offer adjustable pricing models for both hourly and unlimited usage and different support levels.
Are you interested in learning more? We are always happy to chat!
Here is a simulated example. In this case, a sales rep for a rental car agency receives the following question.
Though a seemingly simple question, there is actually a lot to unpack, and it would be easy for a representative to miss at least one of these three main points.
Two Upsell Opportunities - The customer mentioned a vacation. which is an opportunity to promote the vacation package. Separately, it might be an opportunity for the sales rep to suggest a larger, more family friendly-vehicle.
Bonding and Rapport: A vacation is a special time for families. It presents a relationship building opportunity for the organization. Positioned correctly, the customer will associate this positive brand experience with a great vacation.
In both of these cases, real-time speech analytics can be calibrated to provide the ideal responses.
This example also illustrates another point - real-time alerts can reflect varying levels of specificity. In this example, potential segments include:
Yes, it is a fairly new technology. It wasn’t always economical to analyze millions of calls instantly and simultaneously, but we’ve worked very hard to change that!
We believe firmly that everyone has room for improvement, and it’s not uncommon to see the highest performing reps adopt real-time speech analytics most readily.
Another common real-time speech analytics centers on breaking bad habits. Usually, seasoned reps have the most ingrained habits (good or bad) and Balto can help influence them through immediate reinforcement.
You bet! We love the dynamic of man and animal working together to achieve an amazing result that neither could have achieved independently. That's how we view real-time speech analytics: humans still play a leading role, but Balto is there to support them along the way.
Yes, you can find one, here. Technically, this calculator tracks Conversation Drip - the amount of otherwise winnable calls that slip through the cracks. Your result will answer the following two questions:
Combined, these two answers should help give you a clearer picture of real-time speech analytics ROI.