The telecommunications sector is characterized by being a very mature and saturated market, having a war of offers, an unreliable customer base, and few new customers. This means that any bad experience or customer dissatisfaction means that they are likely to abandon the brand for another one when they receive a more attractive offer.
In Spain, for example, there are more cell phones than the population and the way to grow and increase value for operators is to sell all-in-one packages (fixed, mobile, Internet, television, streaming platforms, security, insurance or gaming), change ADSL lines for fiber in the home or grow in subscribers by stealing them from competitors through portability.
Therefore, with so many operators competing for the same market segment, it is becoming increasingly important for them to build their business with the most information and data about their customers, helping to improve the customer experience in all channels of contact with them, especially in the Contact Center.
Download Now: Churn Reduction in the Telecommunication Sector
Why are telecommunications companies so aware of the churn rate?
The situation in the telecommunications market is not expected to change; in fact, with each passing year, users become even more disloyal. A dissatisfied customer will know how to find an opportunity in another company offering the same service for less money.
It is therefore vital in this sector to anticipate abandonment, since a dissatisfied customer is unlikely to trust the company again and, moreover, will not speak well of the products or services it offers.
As we mentioned previously, the generalized churn in the telecommunications sector is usually due to widespread competition. To prevent this, companies must rely on the analysis of large amounts of information contained in their interactions using conversational intelligence technologies such as Speech Analytics.
Without intelligent conversational analytics, telecom service call centers cannot know that there is a risk of churn before a customer call to cancel. But, with these analytics, it is possible to analyze and identify abandonment signals by calculating and weighting a series of parameters obtained from conversations and giving an abandonment risk score for each interaction.
For example, detecting certain keywords or phrases, such as “my bill is too high” or “do you have a plan that costs less?”, or mentions of competitors and complaints, together with other metrics related to bad customer service experiences (such as overlaps, waiting or silence times, etc.) will serve to identify customers with a higher probability of abandonment and thus anticipate, reacting earlier with the aim of reversing the situation.
How else can Speech Analytics benefit telecommunications companies?
Boost sales
Thanks to Speech Analytics solutions, providers can understand how customers respond to their products, packages, and promotions and thus know which sales techniques achieve the best results and how to create an effective commercial message. Complete conversational intelligence solutions combining Speech Analytics and sentiment analysis enable:
- Identify and retrieve calls to close additional sales.
- Verify calls that end in sales for compliance with legal requirements.
- Improve team performance and learning by understanding best practices.
Improve customer satisfaction and experience
Creating a unique customer experience reduces churn rates and builds customer loyalty. In the highly competitive market in which providers find themselves, adding value by detecting signals through Speech Analytics that alert them to potential churn allows them to create customer experiences that address the real needs and concerns of their customers. This increases satisfaction and loyalty, reducing the dreaded churn rate.
Manage process quality
It is important for customer satisfaction and customer experience that providers align their behavior, messages, and attitude, otherwise it is very difficult to retain and build customer loyalty.
Monitoring the quality and performance of agents, whether they adhere to established scripts or detect silences, overlaps, or high voice tones in calls through conversational intelligence and Speech Analytics, can improve the service provided and thus achieve greater satisfaction and customer experience and a reduction in churn.
Complete conversational intelligence solutions, such as Recordia, bring great benefits to the telecommunications industry, but they all boil down to one: reducing churn as much as possible.
With Speech Analytics and Sentiment Analysis, providers can manage the quality of their processes, increase their sales and improve customer experience, which translates into greater customer loyalty, so necessary in this sector.
Find out what Recordia can do for the telecommunications sector by clicking here.