Text Analytics Can Help Businesses Soothe Upset Callers

Using text analytics technology to analyze call-center transcripts and customer surveys, emails and tweets can improve customer service, in part by avoiding pitches that merely annoy customers, according to Ernst and Young.

Every major financial institution records its inbound calls, but few examine the data for insights into their customers, the company says in a report by consultants Heidi Boyle, Bernhard Klein Wassink and Avril Castagnetta.

Text analytics software searches textual communications for insights that could help businesses reduce customer attrition and target cross-selling efforts for greater success, the Ernst and Young report says. Without text analytics, executives miss the huge pool of comments and complaints describing customer attitudes about the company, its products and employees.

For example, if customers are calling frequently with billing questions, it may be a sign that a confusing billing statement needs to be redesigned.

Going further, the combination of text analytics and voice-recognition software can determine the emotional content of customer communications. If this is done while the customer is on the phone, the call-center script can be "adjusted to the customer's emotional state," the report notes.

"A customer calling about a replacement debit card is not ready to hear a pitch for a new mortgage product. Likewise, a caller who is upset about service and billing problems is probably not willing to be up-sold whole life insurance," the report says.

Text analytics software can help customer-service reps, the report says, by "suggesting relationship-building actions, instead of standard cross-selling messages that stand little chance of success."

Follow everything from CIO.com on Twitter @CIOonline, Facebook, Google + and LinkedIn.

Read more about customer relationship management (crm) in CIO's Customer Relationship Management (CRM) Drilldown.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

How service heterogeneity is impacting engagement

Marketers have long known the importance of standardising products to assure quality and consistency. For services, however, standardisation is much more complex.

Dr Chris Baumann

Associate professor, Macquarie University

Kindness matters in business: why the nice guys finish first

A recent 1000-page Royal Commission report on misconduct in Australia’s financial sector revealed hair-raising stories of excessive commissions, rampant mis-selling and charges levied on the dead. So how do you stop a bank from misleading its customers?

Nick Liddell

Director of Consulting, The Clearing

Myer vs. David Jones: Do cyborgs win?

As two of Australia’s stalwart brands in Myer and David Jones continue their respective journeys through troubled waters, it heralds yet another sign of the shifting business environment and shift towards an experience economy.

Tom Uhlhorn

Founder and strategy director, Tiny CX

nice article

meripadhai

5 things marketers need to do to get better in buy in when presenting

Read more

International business is closely related to marketing or marketing activities carried out by the company. According to Gitman and McDani...

Eko Prasetyo Utomo X

Salesforce: The age of the marketing campaign is over

Read more

Back in 1968 Holden began an appeal to customers who have an interest in competition. It did this with the introduction of the HK GTS 32...

Ben Tate

Marketing professor: For Holden, brand nostalgia ain’t what it used to be

Read more

Your blog post is really good and informative. Thanks for taking time to provide us this useful information with us.Auto wrapping uaeADF ...

Yes Machinery

Image intelligence:10 must-see infographics for marketers

Read more

A debt of gratitude is in order for sharing this marvelous information.I have taken in numerous things from your post

digitech Classes

Lumen CMO strives to make the brand synonymous with anti-ageism

Read more

Latest Podcast

More podcasts

Sign in