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February 18, 2022

Sentiment Analysis Tools: What Are They, What Do They Do, And How To Use Them

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Sentiment analysis tools provide you insight into what your customers feel toward your organization.

There are several measures contact centers can take to gauge their success, and listening to call recordings is arguably one of the most important ones. After all, a Microsoft survey found that 44% of respondents in America still prefer to use the phone as their primary customer service channel. So, phone recordings can offer a wealth of knowledge for you and are worth taking the time to listen over.

What are sentiment analysis tools? 

Sentiment analysis tools provide you insight into what your customers feel toward your organization. They can also help you determine what your customers need. This is a key part of understanding how you can best serve your customer.

Sentiment analysis tools and technology have vastly improved over the years and call recordings can easily be integrated into your call center platform. Sentiment analysis software like speech analytics can monitor 100% of phone calls and offer scorecards for agents. This allows you convenient access to all the data you need.

What do sentiment analysis tools do? 

Sentiment analysis uses machine learning algorithms to automatically gauge conversations for their sentiment. Before we jump into algorithms, let’s consider the different systems a conversation can be analyzed by. 

Seasoned veterans of conversation (humans) often have difficulty discerning the sentiment behind a statement. This means the accuracy of the data gained from conversations isn’t always the highest. If your data is inaccurate then the conclusions you draw from it are meaningless.

What’s more, manual processing of all this data would take a lifetime, literally. 

Artificial intelligence, text analysis, speech analytics, machine learning, and natural language processing have come a long way in the past few years. These technologies have turned sentiment analysis into a precise way to determine the emotional tone of conversations. It is automatic and requires little input once it has been configured. 

Sentiment analysis tools and technology have vastly improved over the years and call recordings can easily be integrated into your call center platform.

How do you use sentiment analysis tools? 

Sentiment analysis can be used on both sides of the call center conversation. This holistic approach gives you a better reading as to how you can create processes that best serve your organization. 

Some of the reasons you should listen to your call recordings using speech analytics software that can translate sentiment analysis, if you don’t already, are:

Speech analytics provides quality assurance and improves customer service

By recording your calls, you can have the opportunity to see what issues customers are having so they can be addressed. And you can see how agents are conducting themselves on calls, like if they are sticking to the scripts or taking too long to resolve problems. Research shows that 69% of call centers are already recording their calls to ensure quality service and to assess agents. 

Call recordings also allow you to hear what complaints and feedback customers have that might be able to contribute to improving policies. You want to be able to motivate your agents to perform at their best too and seeing where they can improve is the first step.

Sentiment analysis delivers insights for better agent coaching

Communication is key when customer service is taking place over the phone. Customer service is also a skill that can be worked on. In order to help agents with these things, you need to know where to start and that’s where call recordings come into play.

Coaching and training agents appropriately is essential to the health of the call center. If agents are not properly trained then they are guaranteed to make mistakes from the beginning. Call recordings give you the chance to see which agents are performing well and which ones might need more training. 

You can also give them concrete examples of how they can improve. For example, an agent might not be answering the phone and greeting people correctly and you can guide them on better greetings.

Get to know your customer better with sentiment analysis

Companies should know their customers and you are in a unique position to offer this valuable insight. Contact centers that record all of their calls can pass on information to the marketing and sales department (or any other department that might benefit) so that they can have the appropriate strategies for customers. 

Seeing the way customers actually are and what types of customers the contact center is getting can give marketers a better sense of how they need to be marketing and campaigning. It can also help sales teams to come up with better pitches since they will know the language that customers are using and exactly what they want from the products and services they are purchasing.

Ensure compliance with speech analytics

Not everyone is aware, but call centers are actually regulated by laws that are designed to protect customers. Call centers should do everything in their power not to run afoul of compliance guidelines and one simple way to do this is by monitoring and recording calls for script adherence. 
If these reasons have convinced you that recording and listening to phone calls in your contact center is the best option then be sure to look into the software you will need to do so. LiveVox is a next-generation contact center platform that has everything you need to be fully equipped.

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About LiveVox

LiveVox (Nasdaq: LVOX) is a next generation contact center platform that powers more than 14 billion omnichannel interactions a year. By seamlessly unifying blended omnichannel communications, CRM, AI, and WEM capabilities, the Company’s technology delivers exceptional agent and customer experiences, while helping to mitigate compliance risk. With 20 years of cloud experience and expertise, LiveVox’s CCaaS 2.0 platform is at the forefront of cloud contact center innovation. The Company has more than 650 global employees and is headquartered in San Francisco, with offices in Atlanta; Columbus; Denver; New York City; St. Louis; Medellin, Colombia; and Bangalore, India. To stay up to date with everything LiveVox, follow us at @LiveVox or visit livevox.com.

To stay up to date with everything LiveVox, follow us at @LiveVox, visit www.livevox.com or call one of our specialists at (844) 207-6663.

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