As marketers we use data from multiple channels. We use web analytics, social analytics, intent data and third party data, among others. All this data is valuable and gives us some insight into different aspects of a buyer’s actions and even helps to predict what they may do next.
However, what data is most reliable when it comes to what your customer really wants or thinks? Matt Dixon, Chief Product and Research Officer, and Steve Trier, Chief Customer Officer, at Tethr, believe the answer is in voice data. In their talk for the 2018 AI Growth Summit, they try to answer the questions of ‘Do you know what campaigns and offers are driving your business?’
How do we understand what campaigns and offers drive pure business?
There is a problem with trying to get first-hand customer data. Sometimes customer cannot articulate why they did a certain thing or how they will behave in the future. A lot of what we do as humans is not doing consciously so it’s sometime difficult to express the ‘why’ after the fact.
Survey responses are not faring well either. Customers aren’t as willing as they used to be to take online customer surveys. Consumers are not wanting to take the time to complete a survey. The presentation quoted a stat that said 80% of consumers have reported abandoning an online survey.
Voice data could be the answer
There are about 2.7 billion words spoken over Twitter. This number pales in comparison to the 420 billion words spoken over the phone by customers. So, while keeping track of what customer are saying through things like surveys and social media, voice data is gold mine for customer insights.
AI-powered speech analytics can take all those words spoken to us by our customers over the phone and turn it into data we can use. Voice data has some very keen advantages. It is timely and unbiased and combined with other sources of data can help fill in your customer journey maps and make sense of your customers.
How voice data works
You are gathering tons of potential data from calls taken at your call centres. While calls are usually recorded for quality assurance, training or compliance purposes, those recording are an excellent source to find out how your customers are feeling about your product and also for what you are doing right and wrong in your approach.
Without getting too technical or detailed, calls are recorded then transcribed. From that point, AI is able to mine for insight. Examples of these insights include analysing sales objections, uncovering offer effectiveness, predictive modelling and more.
As stated in the presentation, marketers are not taking advantage of voice data as much as they should. While we are all very focused on being customer centric and emphasising personalisation. We may not be leveraging the insights recorded calls can give us.
Want to know more?
Are you interested in learning more about AI-powered speech analytics and how it may benefit your company? Visit the AI Growth Summit and enjoy the entire Using AI to Boost Marketing Campaign and Offer Effectiveness presentation.
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