Business Intelligence: It’s a commonly used term to describe what really amounts to something quite simple – gaining information to aid an organization in decision making, strategic planning, and the identification of new business opportunities. To gather this information, many organizations rely on sophisticated systems and engage in costly activities such as data mining, online analytical processing, querying and enterprise reporting. Want to know another effective way to gather information for business intelligence? Through call recording.
Call recording software can provide organizations with the information they need to make intelligent business decisions, particularly those involving customers and product development. This software can help organizations gather data to help answer questions such as:
Why do customers defect? Did you know that it’s six times more costly to acquire a new customer than it is to retain an existing one? That’s why keeping the customers you have is a priority for every organization. When you record customer calls, and listen to the calls of customers who are dissatisfied, you gain valuable insight into the reasons why customers choose to no longer buy your products or services. Gathering all these responses together, you can develop a matrix of “canned responses” to customer defection assertions, helping to mitigate customer departures in the future.
Do my agents really understand my customers? Call recording provides protection in the event that a customer challenges whether or not they purchased a product or gave authorization to transact an order. This information is helpful in customer disputes, to be sure, but it’s also useful in training agents both to close more deals and to ensure they correctly understand a customer’s intent to purchase or not.
Which products or services garner the most (positive or negative) attention? Call recording software enables organizations to segment calls by product or service, helping to identify and troubleshoot recurring problems. This information can then be passed along to product development teams so they can address any deficiencies or perhaps even create new products to address these concerns. From call recording information, supervisors can also analyze successful upsell calls and determine the product or service lines they represented. This data will reveal which products are working and which are not.