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"Hear has been a transformative partner for Shift, revolutionizing the way we manage customer interactions. What used to be a manual, time-consuming effort is now automated, accurate, and insight-driven. With Hear, we’ve gained both operational efficiency and deeper call compliance and quality from our representatives."
– Yuval Danin, CEO at Shift
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CVX: From Call Centers into Customer Value Exchange Hubs
Discover how the Customer Value Exchange (CVX) model is transforming call centers from cost centers into strategic hubs.
In customer service, advancements in technology—especially generative AI—are creating opportunities far beyond traditional enhancements to existing tools. These innovations allow us to take a significant leap forward, introducing new methods and unlocking fresh opportunities for businesses to drive growth. One such revolutionary approach is the Customer Value Exchange (CVX), a concept that reimagines call centers as strategic hubs of value creation, where every interaction contributes insights that help shape business decisions, optimize offerings, and foster growth.
The Evolving Role of Call Centers
Traditionally, call centers have been viewed as cost centers, focused solely on resolving customer issues and improving satisfaction scores. While service delivery remains essential, the modern call center has the potential to offer far more than just support—it can function as a strategic, insight-driven asset that fuels business growth.
Customer data and feedback are pivotal to staying competitive, companies need to leverage every customer interaction as an opportunity for learning and improvement. Customer Value Exchange (CVX) comes in as a new approach that harnesses the full potential of call centers as engines for value creation. With CVX, companies can transform every customer interaction into actionable intelligence that benefits both the customer and the business.
What is Customer Value Exchange (CVX)?
Customer Value Exchange (CVX) is a model that embodies the multi-dimensional role of call centers, capturing the reciprocal value between customers and businesses. CVX goes beyond traditional service to create a rich, ongoing exchange of information, insights, and growth opportunities. Here’s how CVX redefines the call center’s role:
Exchanging Insights: Each customer interaction provides a chance to gather insights on customer behaviors, preferences, and pain points. This intelligence helps companies understand trends, inform strategy, and make data-driven decisions. Imagine a retail call center that collects insights from seasonal customer inquiries about eco-friendly products. With CVX, these insights are shared with the marketing team, who then launches a ‘Sustainable Choices’ campaign based on clear, data-driven demand. This proactive approach can help shape not only the customer experience but also brand perception.
Understanding Customer Needs: Call centers can identify recurring customer needs, anticipate future demands, and provide feedback that leads to better, customer-driven product and service developments. A software company using CVX might notice recurring feedback on a specific feature limitation. By capturing this trend and sharing it with the product team, the company can prioritize updates that align closely with user expectations, ensuring higher product-market fit and customer satisfaction upon release.
Identifying Sales Opportunities: Beyond resolving issues, CVX emphasizes recognizing opportunities for upselling and cross-selling based on customer needs, allowing call centers to contribute to the bottom line. Consider a travel company that detects frequent questions from customers about add-on services like insurance or upgrades during trip bookings. Using CVX, the call center recognizes these as potential sales opportunities, prompting agents to offer personalized upgrades and increase revenue while enhancing the travel experience for customers.
Gathering Product Feedback: Call centers serve as real-time feedback channels, providing invaluable insights that product development teams can use to refine offerings or address common customer issues. In the consumer electronics sector, a CVX-enabled call center could identify early signs of a common product issue, such as battery life concerns for a new device. By relaying this feedback in real-time to product teams, the company can quickly address it in subsequent production batches or firmware updates, reducing churn and protecting brand reputation.
In essence, CVX creates a cycle of learning and growth. By treating customer interactions as data-rich events, businesses can fuel their strategies with information sourced directly from the individuals they serve.
How Customer Value Exchange Drives Business Growth
CVX delivers outcomes that directly support business growth, setting it apart from traditional customer service solutions. Here are the primary ways CVX impacts the bottom line:
- Accelerating Product-Market Fit: With direct insights from customer interactions, product teams can make data-driven improvements, align features with customer expectations, and ensure that offerings stay competitive and relevant.
- Boosting Revenue Through Targeted Upsells and Cross-Sells: By understanding customer needs, call centers can identify precise moments to present relevant upsell or cross-sell opportunities, turning support into sales without compromising service quality.
- Optimizing Operational Efficiency and Resource Allocation: CVX enables call centers to operate strategically, focusing on data-driven problem-solving rather than mere troubleshooting. This results in reduced operational costs and improved team efficiency as common issues are identified and resolved at the source.
- Enabling Data-Driven Decision-Making Across the Business: The insights generated through CVX benefit departments beyond customer service. Sales, marketing, product development, and R&D can all use CVX insights to refine their strategies, align with market trends, and respond swiftly to emerging customer needs.
Case Example: Customer Value Exchange in Action
Imagine a customer calling in to express dissatisfaction with a product. In a traditional model, the goal would be to resolve the issue as quickly as possible. But with CVX, the agent listens for cues about broader trends and unmet needs, gathering insights that feed directly into product development. This single interaction could influence product updates, reveal upsell opportunities, and even guide marketing campaigns targeted at similar customer segments.
Conclusion: The Future of Call Centers with Customer Value Exchange
CVX is more than a methodology—it’s a transformation that empowers businesses to maximize the value of every customer interaction. By adopting a Customer Value Exchange approach, companies can drive sustainable growth, create products that better meet customer needs, and foster stronger, more loyal customer relationships. At Hear, we’re excited to help businesses unlock the full potential of their call centers and make CVX a cornerstone of their customer strategy.
Ready to explore the CVX model for your business? Discover how Hear’s AI-driven solutions can transform your call center into a hub of insights, strategy, and value exchange.
How Different Industries Use VoC Insights with Hear
Discover how industries like retail, finance, and more are using Hear’s VoC insights to boost customer satisfaction, reduce churn, and drive growth.
Explore real-world examples of how various industries can use Voice of Customer (VoC) insights with Hear to improve customer experience (CX) and business performance.
Strip away all the fluff, and your organization's success ultimately hinges on one thing—how well your products and services meet your customers' needs and wants. But unless you actively seek and listen to what they’re saying and analyze customer behavior, your products and services will likely be out of sync with their evolving expectations.
It doesn’t matter what industry you’re in—customer experience (CX) is a critical component of customer acquisition, retention, and loyalty. However, raw feedback data taken at face value can miss the mark and lead to flawed assumptions about what customers really care about. That means fine-tuning your CX depends on how well you can sift through the noise and meaningfully analyze customer feedback.
Tracking and examining customer conversations over multiple channels takes time and effort – which is why many top-tier brands and leading organizations are turning to AI-driven Voice of Customer (VoC) tools like Hear to extract insights from customer feedback at scale.
This article explores real-world examples of how various industries use Hear’s VoC insights to improve customer experience and business performance.
What is Voice of Customer (VoC)? Voice of the customer (VoC) involves collecting and analyzing customer feedback about their experiences, needs, and preferences regarding your products, services, or brand.
With Hear’s AI-driven platform, you can collect VoC data through multiple channels, including:
- Call center conversations
- Email and chat support
- Agent performance evaluations
- Online reviews and surveys
This data is crucial for understanding customer sentiment, identifying areas for improvement, and strengthening customer relationships.
The Impact of VoC on Customer Satisfaction Customer satisfaction is a critical metric, and voice of customer data plays a significant role in improving it. By collecting and analyzing customer feedback, you can identify areas for improvement and make data-driven decisions to enhance the customer experience. When customers feel heard and valued, they’re more likely to remain loyal to your brand and become advocates, contributing to long-term business success.
With Hear’s sentiment analysis and insights, companies can track customer emotions at scale, monitor complaint trends, and take proactive measures to resolve issues before they escalate.
Voice of Customer Methodology Here’s a typical approach for collecting, analyzing, and acting on VoC insights with Hear:
- Define Objectives: Identify what you aim to achieve with your VoC program, such as improving customer satisfaction or reducing churn.
- Identify the Target Audience: Determine which customer segments are most relevant for feedback.
- Collect Customer Feedback: Use call monitoring, email/chat analysis, and customer support interactions to gather comprehensive feedback.
- Analyze Feedback: With Hear’s AI-driven thematic analysis, you can quickly spot trends and sentiment patterns.
- Act on Insights: Prioritize the most critical issues and address customer concerns to improve their experience.
- Measure Success: Track KPIs like churn rate, FCR (first call resolution), and NPS (net promoter score) to evaluate the impact of your efforts.
How Different Industries Use VoC Insights with Hear
1. Retail
Retailers can use VoC insights from Hear to drive personalized shopping experiences, optimize store layouts, and enhance specific elements of CX.
- Personalized Shopping: By analyzing customer calls, online support chats, and post-purchase feedback, retail brands can understand customer buying preferences. A fashion retailer, for example, may identify rising interest in sustainable clothing and create dedicated marketing campaigns for eco-friendly products.
- Store Layout Optimization: Brick-and-mortar retailers can analyze complaints like "It’s too hard to find products" from call center conversations. If patterns emerge, they can redesign store layouts to improve product visibility and increase in-store purchases.
- Enhancing Loyalty Programs: Retailers use Hear’s VoC insights to understand customer preferences in loyalty programs. For example, customers may prefer cashback over points, leading to a strategic shift in rewards offerings.
2. Financial Services
Banks, credit unions, and insurance companies use Hear’s VoC analysis to streamline operations and improve customer satisfaction.
- Improve Product Development: By collecting feedback from support calls, financial institutions can tailor financial products and services. If multiple customers request new payment features, banks can prioritize these enhancements.
- Customer Support: Hear’s AI tracks complaints like "Wait times are too long" and "No one follows up on my requests." This insight enables financial firms to adjust staffing levels or create self-service options to reduce wait times.
- Optimize Claims Process: Insurance companies use Hear to track keywords like “claims status” in support calls. By addressing delays in the claims process, they can improve transparency, reduce complaints, and boost customer satisfaction.
3. Telecommunications
With large call volumes, telecom companies need streamlined processes for managing and analyzing VoC data.
- Reduce Churn: Hear’s churn prediction model identifies at-risk customers by tracking negative sentiment in calls, chat, and email. Companies can intervene with targeted retention offers.
- Improve First Call Resolution (FCR): If customers frequently call back for unresolved issues, it’s a red flag. Hear’s FCR analysis identifies the root cause of repeat calls, enabling telecom firms to retrain agents or improve support scripts.
- Enhance Agent Performance: Hear’s agent performance evaluations analyze support conversations, highlighting key areas where agents excel or need additional training.
4. E-commerce
E-commerce platforms use Hear’s insights to deliver frictionless online shopping experiences.
- Cart Abandonment Analysis: Hear identifies call conversations where customers discuss issues like “Promo code not working.” This feedback helps e-commerce companies improve checkout design and reduce cart abandonment.
- Product Feedback: Negative sentiment about specific product lines can signal design flaws or quality issues. E-commerce companies can act on this feedback to improve product quality and customer satisfaction.
- Delivery Issues: Keywords like “where’s my order” and “package damaged” help businesses identify issues with shipping providers and take corrective action.
5. Travel & Hospitality
Travel companies and hospitality providers use Hear’s VoC analysis to maintain customer satisfaction and reduce negative experiences.
- Enhance Guest Experiences: Feedback from travelers about room cleanliness, check-in times, and staff behavior helps hotels prioritize changes. If multiple guests report slow check-in, hotels can increase staffing during peak hours.
- Improve Customer Support: By analyzing support calls, travel agencies can understand why customers are calling (like “change my flight”) and introduce self-service tools to manage these requests.
- Upsell Opportunities: Keywords like "upgrade" signal moments where agents can offer premium services like seat upgrades or late checkouts, driving additional revenue.
6. Utilities
Utility companies must be proactive in handling customer feedback during disruptions and outages.
- Outage Alerts: Hear’s risk monitoring system tracks alerts on mentions of “power outage” or “water leak,” so utility providers can address issues faster.
- Customer Service Improvements: Insights from customer calls regarding long hold times or slow issue resolution help utility companies reduce customer frustration and build trust.
- Proactive Messaging: By anticipating common questions after a storm, utility companies can create proactive notifications to reduce inbound call volume.
6 Key Benefits of Using VoC with Hear
- Enhanced CX: Personalized services and proactive problem-solving.
- Reduced Churn: Identify at-risk customers and intervene.
- Increased Efficiency: AI insights streamline agent workflows.
- Continuous Innovation: Feedback fuels product and service development.
- Faster Time-to-Insight: Instant analysis of thousands of conversations.
- Revenue Growth: Upsell and cross-sell opportunities.
Take Action with Hear From personalized retail experiences to smarter utility support, VoC insights power customer-centric improvements across industries. With Hear’s AI-driven analysis, companies can make data-driven decisions, reduce churn, and drive growth.
Want to see how Hear can transform your customer experience strategy? Schedule a demo today and experience the power of customer insights at scale.
Reducing Customer Churn with Data-Driven Insights
By leveraging Hear’s advanced analytics, companies can transform raw customer data into actionable insights, dramatically reducing churn rates.
Retaining customers is just as crucial as acquiring new ones. For contact centers, customer churn can lead to significant revenue loss and missed growth opportunities. Understanding the reasons behind churn and using data-driven insights to proactively address issues can dramatically improve customer retention. Here’s how you can take a data-focused approach to reducing churn.
Why Churn Matters and How It Hurts Your Business
Customer churn not only affects your bottom line but also signals deeper issues within your business, from product misalignment to poor customer experiences. High churn rates increase acquisition costs, weaken brand loyalty, and can eventually tarnish your reputation in the market.
The Real Reasons for Customer Churn
Contrary to popular belief, customers don’t always churn due to pricing or product alone. Churn often results from a combination of factors that undermine the customer experience. Identifying these reasons early is key to reducing churn.
Market Fit vs. Product Fit: How They Differ and Why They Complement One Another
Market fit refers to how well your product solves a broad, industry-wide problem, while product fit relates to how well your offering addresses the specific needs of your customers. While they are different, both are essential. A product may be an excellent fit for the market but fail to meet the unique needs of your customer base, or vice versa. To prevent churn, it’s crucial to align both market and product fit with your users’ expectations.
Identifying Common Reasons That Users Disengage Before It’s Too Late
There are numerous reasons customers become disengaged, but many fall into a few key categories. Here are the most common causes:
1. Lack of Communication
A lack of meaningful communication with users leaves them feeling neglected, increasing the chances they will leave for a competitor.
2. Wrong Users
Attracting customers who aren’t the right fit for your product can lead to high churn. Targeting the correct audience is crucial.
3. Poor User Support
If users can’t easily get the help they need, frustration builds, and they begin seeking alternatives.
4. Product Quality
If your product consistently fails to meet expectations, users will eventually look elsewhere for a more reliable solution.
5. Trouble Communicating Value
Even if your product is excellent, if customers don’t understand its value, they may fail to see why they should stick around.
6. Pricing Friction
Complicated or non-transparent pricing models can lead to dissatisfaction, especially if customers feel they aren’t getting value for money.
7. Low Customer Adoption
When customers don’t fully adopt your product or fail to use it to its full potential, they’re less likely to stick with it long-term.
8. Lack of User-Friendliness
A product that’s difficult to navigate or unintuitive leads to frustration and eventually, churn.
Techniques for Re-Engaging At-Risk Customers
Re-engaging customers who are on the verge of churning can be as simple as improving communication or offering personalized support. Here are a few techniques:
- Personalized Outreach: Tailored emails, phone calls, or in-app messages to re-engage disengaged users.
- Incentives: Offering discounts, loyalty rewards, or free trials can bring customers back on board.
- Feedback Loops: Actively seeking feedback and showing customers how it’s being implemented can boost loyalty.
Reducing Churn with Familiar and Natural Experiences
Customers are more likely to stay when they feel a natural, seamless experience with your product. From intuitive interfaces to timely communication, familiar experiences help foster trust and ease of use, significantly reducing churn.
Understand and Reduce Customer Churn with Hear
With Hear’s data-driven Gen AI platform, contact centers gain a detailed view of customer sentiment, engagement patterns, and potential friction points by analyzing the content of all calls coming through your call center. These insights enable businesses to identify at-risk customers and proactively implement strategies to re-engage them, ensuring issues are addressed before it’s too late.
Harnessing the Power of Hear
By leveraging Hear’s advanced analytics, companies can transform raw customer data into actionable insights, dramatically reducing churn rates. Whether it’s through improving agent performance or uncovering hidden revenue opportunities, Hear equips businesses with the tools they need to retain their customers and grow.
Sentiment Analysis: Why Understanding Customer Emotions Matters
This blog will explore the importance of sentiment analysis, and how Hear’s platform takes sentiment analysis to the next level with AI-driven insights.
Understanding how customers feel about your business is more critical than ever. Companies across industries are harnessing the power of customer sentiment analysis tools to gain deeper insights into their customers’ emotions and preferences. From Amazon analyzing product reviews to refine its offerings, to Delta Air Lines using customer sentiment analysis using AI to improve operational performance, businesses are leveraging sentiment data to make smarter, more customer-centric decisions. By integrating these tools into their decision-making processes, organizations are not only addressing customer needs proactively but also driving innovation and maintaining a competitive edge.
This blog will explore the importance of sentiment analysis, how it empowers contact centers, and how Hear’s platform takes sentiment analysis to the next level with AI-driven insights and comprehensive data integration.
Contact centers are often the front line of customer experience, where positive or negative emotions are expressed in abundance. Here’s why customer sentiment analysis tools matter to your business:
It Goes Beyond Traditional Metrics
While most companies rely on metrics like Average Handle Time (AHT) or First Call Resolution (FCR), these numbers don’t always tell the full story. Customer sentiment analysis adds a qualitative layer, helping you understand not just what happened during an interaction, but how the customer felt about it. This can inform better decision-making, especially when evaluating agent performance or customer satisfaction.
It’s Proactive, Not Reactive
Instead of waiting for customer complaints or surveys, customer sentiment analysis using AI allows you to detect negative emotions. Your team can intervene before a situation escalates, turning potential dissatisfaction into a positive experience.
Strategic Insights Based on Customer Feedback
Businesses thrive on data-driven insights, and customer sentiment analysis tools can provide strategic benefits to contact centers:
Identifying Trends and Pain Points
By tracking customer emotions across multiple interactions, you can identify recurring pain points. For instance, are customers consistently expressing frustration with a particular product feature? Or are they happy with recent changes to your service? Recognizing these trends allows businesses to make improvements where it matters most.
Understanding Customer Preferences
Customer sentiment analysis also reveals patterns in customer preferences. Are customers showing more excitement over a particular promotion? Do they respond positively to specific messaging or support channels? These insights help tailor offerings to meet customer expectations and boost engagement.
Measuring Customer Sentiment Effectively
With tools like Hear’s Data Hub, businesses can calculate a customer sentiment score for each interaction, offering a tangible way to measure customer satisfaction over time.
Operational Improvements Based on Customer Feedback
Beyond strategic decisions, customer sentiment analysis tools also drive operational improvements, particularly in contact centers.
Agent Performance Evaluation and Training
By monitoring customer sentiment scores during interactions, you can evaluate agent performance beyond traditional KPIs. Did the agent handle a frustrated customer well? Were they able to turn a negative sentiment into a positive one? This type of insight not only helps in training agents but also fosters a customer-centric culture.
Personalized Customer Experience
Customer sentiment analysis using AI allows businesses to personalize the customer experience. If a customer regularly expresses frustration, you can route them to a more experienced agent or offer personalized solutions. By tailoring interactions to emotional cues, contact centers can deliver a more empathetic and effective service.
How Hear’s Platform Enhances Customer Sentiment Analysis
Traditional tools often sample a small portion of customer interactions, but Hear’s generative AI platform allows businesses to analyze sentiment across 100% of calls, providing a complete view of customer emotions. This comprehensive approach ensures no valuable feedback is missed and enables businesses to measure customer sentiment scores across every interaction.
Integration with Hear’s Data Hub
Hear integrates sentiment analysis directly into its Data Hub, a centralized platform for managing recorded interactions. Key features include:
- Detailed Call Summaries: Each interaction includes a sentiment analysis, compliance adherence, and metrics like average handle time.
- Interactive Chat: Ask questions about customer sentiment, trends, and agent performance to receive instant insights.
- Advanced Filtering: Retrieve calls based on criteria such as date, agent name, or flagged alerts, enabling focused analysis.
For example, managers can filter calls tagged as "negative sentiment" to identify trends and implement targeted improvements.
How to Measure Customer Sentiment with Hear
Hear’s AI uses natural language processing (NLP) to analyze emotional cues, tone, and language patterns within calls. This allows the system to assign a customer sentiment score to each interaction, providing clear benchmarks for assessing customer satisfaction.
Technical Advancements
Hear’s platform leverages high-volume data processing and natural language search capabilities, ensuring fast and accurate sentiment analysis. By indexing all customer interactions, businesses can retrieve historical data in seconds and generate actionable insights. This technical foundation empowers contact centers to make better decisions and improve performance.
The Bottom Line: Why Customer Sentiment Matters for Your Contact Center
For decision-makers in industries ranging from retail to telecommunications and financial services, customer sentiment analysis using AI is a powerful tool that transforms how contact centers operate. It shifts the focus from quantitative metrics to qualitative, emotion-driven insights that drive both strategic and operational improvements.
By understanding customer sentiment through tools like Hear’s platform, businesses can enhance customer experience, improve agent performance, and ensure that contact centers become key drivers of organizational success.
Call Completion Outcomes
This graph illustrates the outcomes of customer calls after the conversation concludes. This is key data for better visualization of completion trends.
Caller Issue Breakdown
This report categorizes the primary causes of problems during calls, allowing contact center managers to quickly understand and address the most common challenges their customers face.
Agent Compliance Tracking Overview
This graph tracks how often agents missed mentioning required information during calls. This helps identify gaps in agent compliance and areas for improvement in communication.
"Using Hear transformed the way we approach customer service. By giving us visibility into our contact center performance, we’ve been able to resolve issues faster and maintain higher service standards. It’s made a real difference in our ability to stay competitive and meet customer expectations."
– Director of Operations, Fortune 500 Insurance Company
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