Conversation Monitoring with Recordings – about the role and benefits of improving customer service
Focus on connection quality based on the recording platform.
Recording and monitoring digital channels
In the business world, customer service is a crucial element determining the success or failure of a company.
The goal of conversation monitoring is to improve customer service, increase customer satisfaction, develop employee skills, and ensure compliance with legal regulations and industry standards. Conducting recordings and monitoring customer service in contact centers or branches are an essential component of an effective standardization strategy. Ensuring high-quality interactions between agents and customers has a significant impact on the company’s reputation and financial results.
Recording and monitoring digital channels (video, audio, and chat) and traditional phone calls are done in various ways on call recording platforms. Quality monitoring is based on stages such as checking transcription, sentiment analysis, quality assessment, training, and coaching. These actions enable the identification of areas requiring improvement and the development of effective communication strategies, optimization, and streamlining of sales processes. For example, video monitoring focuses on verified Advisor’s soft skills like friendly facial expressions in the recordings and eye contact with the client.
Key benefits of LiveBank's conversation monitoring and recording tool
Through conversation monitoring, businesses gain insight into customer issues, needs, expectations, behaviors, and preferences. Key benefits of recording and conducting monitoring include
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Improving Customer Service Quality
Recording conversations allows for a thorough assessment of service quality by analyzing interactions between agents and customers. This helps identify areas needing improvement and elevates service standards, enhancing internal processes. Within these processes, we offer AI solutions that provide summaries of interactions.
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Training and Advisor Development
Recordings serve as valuable tools for training and developing staff. During conversation analysis, we identify strengths and weaknesses, as well as adherence to procedures. The results of such actions enable continuous improvement by enhancing communication effectiveness and identifying best practices. These efforts are supported by the ability to export recorded conversations.
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Risk Management and Compliance
Conversation recordings can be used for risk management and ensuring regulatory compliance. Storing on a recording platform allows for documenting customer interactions in case of disputes or complaints.
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Monitoring Effectiveness
With an omnichannel strategy, one can examine how customers resolve issues regardless of the contact channel. Measuring parameters such as wait time, call duration, or quantitative metrics is one of the standards.
Conversation Retention
Conversation retention in contact centres (CC) refers to the practice of storing on a recording platform or transcriptions of conversations between consumers and customer service representatives. Conversation retention is subject to the need to comply with legal requirements regarding data protection and industry regulations. Regulations such as the General Data Protection Regulation (GDPR) require companies to retain data for the period necessary for the purposes for which it is processed. The length of the retention period may vary depending on the type of data and the context (product, process) for which it was recorded. Regulations allow customers to object to data processing and have the right to delete conversation data.
At LiveBank, we address these needs and expectations on several levels
The first level is the ability to set retention periods depending on the type of issue. This allows for different retention periods addressing different requirements, e.g., one for service-related topics and another for investment-related topics.
The next level allows for defining whether a particular type of issue may be subject to the “on-demand” deletion process – i.e., faster than the retention period dictates.
The final level is the ability to delete “on-demand”. The Live Bank platform addresses these expectations, regardless of whether it concerns a chat, call recording, or video recording. If a customer requests the deletion of an interaction, such an operation can be performed manually. This authorization is limited to the appropriate role in the system.
Summary
Regular monitoring and evaluation of conversations are crucial for effective customer service quality management. As a result, organizations can not only immediately address emerging issues but also implement necessary changes to optimize sales processes and techniques. As a consequence, effective quality control of conversations not only helps improve customer satisfaction but also helps avoid unnecessary expenses and maintain a healthy financial balance for the company. In an era where every customer contact can have a significant impact on the reputation and financial results of a business, systematic analysis of service and sales conversations is an essential element of strategic business management.