Strong communication is the foundation of any good relationship.
This saying is often used when talking about personal relationships, but it’s highly applicable to the business world as well. The channels, processes, and language people within your business use to communicate determine your success.
And there’s a lot to consider when it comes to business communications. You use different comms strategies when communicating with leads vs. existing customers, not to mention a completely different set of communication rules for internal comms.
Learning how to analyze communications at scale is key to adjusting your marketing and growth strategies. And fortunately, new technology makes it easier than ever for businesses to analyze literally every word used by their sales teams and customers, at scale, and use that data to take action.
If those kinds of insights sound intriguing, then you need call transcription technology, a feature of Call Tracking, that helps you analyze conversations at scale, generate leads, and improve marketing ROI.
You can see how this software works for yourself with a free trial. But if you want more details, here’s a breakdown of how businesses are using call transcription software to get ahead.
What are call transcriptions?
Call transcription is when you use technology to automatically turn audio from telephone calls into written documents, or transcripts.
Transcribing phone calls is nothing new — it’s been happening since the very first phone calls were made. Back then, all transcripts would have been recorded by a human listening live, until voice recording technology was developed. Transcribing got even easier with the invention of the typewriter, and then the computer.
But the greatest advancement in call transcription technology is only a few years old. Today, sophisticated tech known as natural language processing, or NLP, allows us to automatically record and transcribe phone calls with incredible accuracy.
Speed and accuracy: These are the assets that set apart the best call transcription software platforms. But the real value comes in the analysis. With a platform like CallRail, you won’t just receive automatic transcripts of all your phone conversations, you’ll get customized, detailed insights compiled by sophisticated AI.
The value of transcriptions for businesses
Businesses that use call transcription software effectively have a major competitive edge. Here’s a look at how the right transcription technology can transform your business.
Enhancing customer service and satisfaction
With CallRail’s call transcription service, you’ll be able to record every single call between your customer representatives and existing customers. But this transcribed data won’t just collect dust in your servers.
The AI component of the call transcription software will identify trends in the language your customer service reps are using. At a glance, you’ll be able to see what questions they’re fielding over and over, what words customers use to describe their hesitations, and which words and phrases are associated with happy or frustrated customers.
You can then use this data to train your customer service team, create content that will make their jobs easier, and customize customer conversations based on what you already know about communication style.
Boosting sales and marketing efforts
When you begin recording and transcribing calls between your sales representatives and customer leads, you unlock an entire universe of data that can seriously improve your pipeline and funnels.
The data compiled from transcripts will show you exactly where your customers' pain points and objections sit. You can use this information in a number of different ways:
- Use customers’ own language in marketing messaging
- Highlight solutions to specific customer pain points
- Train sales representatives on winning conversion techniques
- Identify qualified leads through the language they use
- Analyze how different leads respond and communicate based on their source/origin
If you want to reduce your marketing spend while increasing the number of qualified leads streaming into your sales center, then call transcription is the answer.
Facilitating training and quality assurance
Call transcription can make big, positive changes within your business as well. You can use the lessons you glean from your call transcripts when training employees — even having them reenact real-life calls as practice before you put them on the phones.
You can also use call transcripts to monitor conversations happening across your company, to ensure staff are meeting your standards and staying aligned with your company’s mission. Compliance and quality control both become easier to manage with call transcription.
Industries that benefit from call transcriptions
Any business that uses phone calls as part of its communication strategy can benefit from call transcripts. But there are certain industries that can leverage call transcription in ways that are truly transformative.
Healthcare
Healthcare professionals can leverage call transcription software to streamline their processes, cut down on administrative tasks, and improve patient satisfaction and treatment methods.
Practitioners can record call transcripts to gather information necessary for medical records, and to improve their speed and accuracy when it comes to documentation and patient analysis. And best of all, they can do this while feeling completely confident that patient privacy will be maintained, thanks to PII redaction capabilities offered by CallRail.
Legal and compliance
Lawyers and other legal professionals need detailed records of all conversations they have with their clients — these records can be crucial when it comes to judicial processes.
Using the most advanced NLP software to transcribe calls ensures lawyers can get instant, highly-accurate transcripts of all conversations, which they can then search, tag, and organize as necessary for each individual case.
Departments that benefit from call transcriptions
Customer support and call centers
There aren’t any departments that field more phone calls than customer support representatives and call centers.
Transcribing and sifting through every call for insights would be impossible without NLP technology. But with a service like CallRail, businesses can aggregate the language used on every single call, pulling together broad insights that call for specific actions.
It won’t take long before customers notice the difference — their problems will be addressed sooner and faster, and as a result, your conversion and retention rates will vastly improve.
Sales and marketing
The best sales and marketing teams are fueled by customer insights. Both sets of professionals need a deep understanding of their intended audience. And there’s no way to get more insightful data about leads’ anxieties, hopes, frustrations, and biases than through analysis of their language.
Your sales and marketing team can also use call transcripts to collaborate more efficiently. Your sales team can help your marketing staff identify the obstacles customers run into during the funnel. In turn, the marketing team can adjust their messaging to address these issues sooner and more clearly, making the sales team’s job of converting leads that much easier.
How to choose the right call transcription software
There are a number of call transcription software options on the market, but they don’t all have the same capabilities. Here’s what to look for when shopping around:
Accuracy and reliability
First and foremost, you want to make sure the transcriptions made by any software are as accurate as possible. Machine learning has come a long way in the last few years, and the best call transcription software should be able to transcribe phone calls with a rate of accuracy near perfection.
Of course, things like a poor phone connection or unique words and phrases can get in the way of an error-free transcript. But in most cases, you should be able to read it without getting caught up on incorrect words or poor punctuation.
The quick creation of high-quality, accurate transcripts is one of the big advantages of AI-powered transcription vs. human transcription services, so make this a priority as you’re considering your options.
Security and Privacy
Phone calls often contain sensitive information. If you’re using call transcription software, it’s vital that you can guarantee the transcripts of your calls will remain completely private.
This is of particular importance for people working in the healthcare industry, where practitioners are bound by HIPAA to maintain patient confidentiality. Similarly, legal experts must be certain they can honor their clients’ privacy while recording calls.
When researching potential call transcription software, look into the safety and security measures they take to keep your data safe. For example, CallRail has detailed information about how they help customers maintain compliance with HIPAA, GDPR, and more.
Integration and Compatibility
When choosing call transcription software, it’s important you select a platform that is compatible with any systems or other platforms you’re already using.
For example, are you able to link transcripts to your CRM platform? Does your VoIP system successfully connect with the software? Here is a list of all of the integrations you can manage with CallRail’s call transcription software.
Discover the benefits of call transcription for your business
Call transcription software has made leaps and bounds in the last few years. Now, any business that uses phone calls to interact with customers, clients, patients, or leads can benefit from instant, high-quality AI call transcription.
Want to see what high-quality call transcription looks like? Sign up for a free CallRail trial today.
