call center for small business
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How AI Uses Speech Analytics to Transform Call Centers Business
How AI uses speech analytics to transform call and contact centers,Author: Satta Sarmah Hightower,When customers have a question or need to resolve a problem, they'll reach out to your company by email, social media or even in-person. That's why your contact center, also known as a call center, is one of your most important touchpoints for customer service. A report by indicates that 61% of consumers will abandon a company after a poor customer service experience, which may explain why companies are increasingly using AI-driven speech analytics to improve how they engage and serve customers. What is speech analytics?,Speech analytics is the process of analyzing words and phrases to gather data to help gain insights that can improve the customer interaction and experience. These analytics cover a variety of data points, including the call's topic, relevant keywords and phrases, the emotional language the agent and the customer convey, and the amount of talking during the call. How contact and call centers use speech analytics,The gathered data is then converted into text or transcripts for further analysis. Call center speech analytics can be used to better understand pain points that cause customers to abandon their purchase or leave a negative review about the company online. The data can also be used to drive your company's business strategy. For example, if speech analytics in a bank's contact center unearths that many customers take twice as long to complete the bank's online loan application and reach out to the contact center for help, this could signal the bank needs to make changes in its online application process to improve the user experience. The data can also be used to provide insight into agent performance and where your company may need to invest more in training staff or in future process improvements to help agents work more efficiently. Call center speech analytics are an invaluable tool for helping your business grow and strengthen long-term relationships with customers. And with the help of AI, these analytics can be more impactful. The power of AI-enhanced speech analytics,AI brings automation, speed and predictive insights to speech analytics. With the growing volume of data that companies must wade through, standard contact center technologies like CRMs or legacy call tracking software don't offer the advanced capabilities your company needs to make better use of its data. AI helps businesses get real-time insights into interactions and identify patterns and trends that contribute to customer churn, leading to better agent and product performance and service delivery. For example, AI-enhanced analytics could enable a national retailer to automate quality monitoring in its contact centers, which could reduce the need for additional staff and potentially lead to cost savings for the company to reinvest in other business areas. AI-enhanced analytics can also help your business reduce call volume by identifying patterns in repeat calls to help your company make improvements in its brick-and-mortar or online experiences, as well as improve training for agents to be more effective at solving customers' problems. In some cases, AI can provide insights in real time that agents can use to improve their customer interactions. Transform your contact center experience,In a world where every interaction produces a data point that companies can use to better understand their customers, AI is a powerful tool to help your business bridge the gap between what you know and what you don't. To make the best use of contact and call center speech analytics, your company should start by creating a single source of truth for all the data across your organization. That means centralizing your data into a unified platform that integrates and analyzes information from multiple sources in a single location. Along with these technology changes, your company also should equip contact center managers and agents with the tools and training they need to take full advantage of contact and call center speech analytics. Technical and non-technical business users alike need to become more data-aware and use the information at their disposal to help their companies achieve both short- and long-term business goals. Together, with the power of AI and your staff's experience, institutional knowledge, and unique skill set, your company can fully leverage contact and call center speech analytics to meet customers' needs and deliver an experience that makes them more loyal to your brand. Learn more about how Verizon's helped a large retail bank increase customer satisfaction. If you'd like to receive new articles, solutions briefs, whitepapers and more—just let us know. . * Indicates a required field. We will follow up from your contact request using the information provided. Choose your country to view contact details. Manage your account or get tools and information. These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information. These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. We use both third party and first party cookies for this purpose. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance. These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly. These cookies may be set through our site by Verizon and third parties. They are used to present Verizon advertising on third party sites that you may visit. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. 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Learn moreSmall Business Events & Webinars | Resources for Your Business
We've got some great deals going on right now exclusively for our online customers... chat now to hear more! In our 4th installment, you'll discover how the Future Reality Tree maps positive outcomes, identifies barriers, and drives informed decisions for your PCI program. Unlock smarter PCI strategies by watching today!,An insightful discussion on digitalization, access to capital, and innovation in a post-COVID economy for small businesses with Natalie Cofield, Advisor, Entrepreneur, Philanthropist, and former Assistant Administrator, US Small Business Administration, and Michelle Meyer, Chief Economist, US Mastercard. Verizon's Aimee Novak, VP of Nationwide Small Business and Andy Brady, VP of Enterprise Sales sit down to discuss lessons learned, upcoming trends and share best practices to drive business opportunities. SoFi Stadium, Los Angeles, CA,Union Station, Washington, D.C. Chase Center, San Francisco, CA,ASPIRE, One World Trade Center, New York,Soldier Field, Chicago, IL,Call sales,Chat with us,Have us contact you,Get updates,Already have an account?,* Required,The information provided will be used in accordance with our terms set out in our . Please confirm you have read and understood this Notice,Verizon may wish to contact you in the future concerning its products and/or services. If you would like to receive these communications from Verizon, indicate by selecting from the dropdown menu below. Please note that you can unsubscribe or update your preferences at any time. By submitting the form, you are agreeing to receive insights, reports and other information from Verizon and affiliated companies in accordance with our . California residents can view our California Privacy Notice . These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information. These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. We use both third party and first party cookies for this purpose. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance. These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly. These cookies may be set through our site by Verizon and third parties. They are used to present Verizon advertising on third party sites that you may visit. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising from Verizon. BackClear Filters,All Consent AllowedWe use technologies to collect and share information about your use of our site. By continuing, you agree to the use of these capabilities for a better experience and other purposes. Learn more in our .
Learn moreFinance Tips for Small Businesses
6 budget-friendly tips for small-business growth,Rhonda Abrams knows how to maximize resources. When the pandemic hit, she and her Planning Shop team did what the publishing industry calls "crashing a book" to release a small-business resource guide as fast as possible. "We decided to be leaner, did print on demand and got something out there quickly that people could actually use," she says, adding that by skipping traditional processes, she was able to cut costs and maximize resources during a period of great financial uncertainty. With that in mind, she recently followed up on her July 2020 with Verizon to share additional financial tips with entrepreneurs for where to spend, where to save and how to lean into inevitable change. Many tech giants started out in their garages and became household names by taking calculated risks. They tested minimum viable products (MVPs) before pouring big money into big ideas. Abrams recommends small business owners take a similar approach. "If they don't work, think about what you learned and move on," she says. For example, Abrams swims laps at a public pool that recently started offering an app so members could reserve spots in advance. "It's not the app they would use long term, and I'm frustrated with it many times, but they got it up and running," she says. "A lot of businesses think, 'If it's not perfect, I'm not doing it.' But there are lots of off-the shelf website builders and services and programs you can use to test out an idea. You can always change and improve it later.",Since the cost of shipping has become a major pain point for companies of all sizes, you could try streamlining your inventory down to items that are lighter (and therefore less expensive to ship). You could also put more effort into organizing and offering convenient curbside pickup options, or focus on strengthening your community footprint by sticking to local delivery. Many restaurants have gone the MVP route during the pandemic, tightening their menus and creating meal kits to maximize limited resources. Some are now seeing how these temporary solutions can actually become long-term business drivers. When the economy is tight, the first thing people tend to cut is marketing. Abrams says that's a mistake: "If everyone else is cutting back, if you increase your marketing, you stand to gain market share." Other finance tips for small business owners include:You don't necessarily need a professional consultant to enter new territory. "Hire your friend's college-student kid to do some social media marketing," she says. "They might not be the best but it's better than nothing!" You can pay them a fair wage without blowing your budget and they get to put valuable digital experience on their resume. It's a win-win. There are also plenty of lower-cost, off-the-shelf website builders, services and programs that can help you get the word out about your business in creative and direct ways—like when a local spa texted Abrams about how it was offering outdoor manicure and pedicure services. "They let me know they still exist," she says, adding that while she's not comfortable getting her nails done right now, "when I'm ready to go, they'll be top of my list!",If you don't know the first thing about contacting customers through text or email campaigns, you can always contact your local small business development center, which offers a wealth of resources for free. "Every city has one," Abrams says. 2021 is going to be a year of continued uncertainty. Abrams recommends making plans to accommodate both customers who are ready to resume life as usual and those who might be more cautious as the pandemic settles into rear view. Reach out to other small businesses in your community now to organize fun events in the near future, like a street fair where customers can frequent multiple vendors in an entertaining and memorable setting. "Small business owners need to stick together and constantly spread the word to shop small and shop local," she says. "If you're a shoe store, the shoe store down the street is your partner, not your competitor." The same advice goes for making it easier for people to support you from a distance. "Band together with other businesses to find delivery services that are cheaper than a lot of these national food delivery services that can take up to 30% of each order," Abrams says. "And remind customers that when they spend their money online at a huge retailer, none of that stays in their community. Let them know, 'if you are going to shop at a big online retailer, make that your last choice not your first choice.'",Above all else, Abrams says, "Believe in yourself. Entrepreneurs are people who take charge. They wake up in the morning with an attitude that they can do something today to change their lives. You might be more tired and frustrated right now, but you have it in you because you've done it before. You are capable of navigating these new waters. You are going to ride these waves, not be taken under.",If you are already a Verizon customer, we have several options to help you get the support you need. Choose your country to view contact details. Existing customers, to your business account or . These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information. These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. We use both third party and first party cookies for this purpose. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance. These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly. These cookies may be set through our site by Verizon and third parties. They are used to present Verizon advertising on third party sites that you may visit. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising from Verizon. BackClear Filters,All Consent Allowed
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