It is an understatement to say that we are awash in technology. With the Internet and increasing globalization, the pace of innovation is moving faster than ever. This is throwing a bunch of different technological tools at us, some that can improve our business and some that are interesting but not actually worth the effort.
How to know the difference? A recent blog post at Retail Customer Experience lays out three criteria for any new technology: Does the technology enhance the customer experience in a meaningful way? Does the technology enhance the bottom line? Does the technology improve the customer experience and the bottom line both in the short- and medium-term?
I would argue that one technology that fulfills all three of these requirements is call recording, a hidden gem among the many technologies businesses now must choose among.
First, does call recording improve the customer experience?
“It is important not to focus on what the technology can do but rather on what it can bring to your customer experience,” noted the Retail Customer Experience blog post. “It is easy to get seduced by the shiny bells and whistles new technology brings, but what really matters is your customers and the experiences they desire.”
Call recording definitely passes this first test. It does this on at least two fronts. First, it enables better employee monitoring and training, which helps a company serve better agents to its customers. Second, when combined with speech recognition technology it gives a business an opportunity to mine customer conversations for information that can help the business better satisfy customers in the future.
Next, does call recording help with the bottom line?
I think the answer to this question is also a resounding yes. That’s because customers are better satisfied when they are served by good agents, and this leads to faster issue resolution and increased sales from repeat customers happy with the customer experience. Any boost to customer service will ultimately help the bottom line, and the training benefits that come from playing back actual customer interactions make call recording a good way to boost revenue.
Does call recording do this both in the short- and medium-term, however?
“One of the great quandaries surrounding technological investments is not knowing how long they will remain relevant,” noted the blog post. “A commitment today can lock you into technology that holds you back in the future.”
Call recording is not a technology that will be going away, fortunately, and it can start driving results right away. As speech recognition software gets even better, if anything a good call recording solution will become even more valuable as time goes on. The foundation is making the recordings, and it is relatively easy to upgrade the processing aspect as technologies develop. So call recording both makes an immediate difference and will continue making a difference going forward.