Written by: Benjamin Smith | Best Company Editorial Team
Last Updated: February 24th, 2020
Guest Post by Ben Walker
When most people think of transcription, it’s something they write off as a resource only needed for journalists or lawyers who are regularly compiling long interviews with many different people. Transcription, however, is an essential tool that can benefit all small businesses that are short on manpower and money.
Imagine if you had direct access to all employee, customer, and management phone calls on an app on your mobile phone. Think of how much quicker accessing information would be if you could do a simple search for keywords to find exactly what you are looking for. If all of this were to be integrated into your Point of Sale software and stored there, think of the many ways you could improve your efficiency as a company.
As the owner of Transcription Outsourcing, LLC a transcription services company, I’ve seen time and time again how small businesses are able to use transcription to streamline their processes, speed up their workflow, and make more money while cutting costs. Let’s take a look at five key ways transcription can help small businesses so you can decide if it’s right for you:
1. It saves you time and money
One of the best reasons to use transcription is because it will streamline your process by having audio files quickly transcribed without your team having to take over and do it themselves. Agents have the experience and software to turn around your transcription quickly and accurately.
When you save time, you save money, even if you’re spending a little bit to get those results. When your team gets hours back to do other more high-value work, it makes outsourcing well-worth the effort.
2. It makes key information immediately accessible
The ability to send out an hour-long audio file and have it converted into a well-formatted, easy-to-scan and easy-to-read text file is a huge asset for businesses.
You’ll be able to have all of the information you need immediately accessible, simply using a Control F or a search feature on your computer to find any snippet of information from any files in an instant instead of trying to listen back through hours of information for a simple fact check.
Once this information is transcribed, it’s going to speed up the archiving process, too. It’s much easier to store and later find text files than audio files, especially if you need to reference them later on.
3. It allows you to better analyze and act on client calls
Transcribing client calls is one of the most common tasks small businesses need help with. This includes important calls that involve contract negotiations or project management, and it includes customer complaint calls, too.
Of course, you want to have documentation of everything that happens during key business calls that hash out project expectations, pricing, and the scope of work.
Transcribing customer complaint calls, however, is also important. While you won’t want to listen to hours upon hours of audio files, you can search for key phrases like “stopped working” or “want a refund” in an attempt to identify common and potentially core issues with your product or service. The ability to analyze and better identify issues and rectify them allows you to be proactive, and could potentially even save your business.
Having all of these phone call transcriptions embedded in your point of sale dashboard would provide yet another avenue to utilize current company statistics as you improve your business.
4. It can help you sell more
In addition to having important client negotiation calls, vendor calls, and complaint calls transcribed, you could also have your point of sale software set up to automatically send lead and sales calls to the transcription service of your choice.
In this scenario, you could then have the transcripts sent to the appropriate sales team member (including the members who made the original calls) so they can assess when to follow up to either land the sale or to offer additional help to ensure the client is getting the most value from the product or service.
The transcripts could also be evaluated by the team’s manager to see which sales tactics are most effective at driving conversions, and potentially look for ways to improve the overall sales process. Again, it’s much easier to see patterns when you can read it quickly through text instead of trying to focus on too many phone call recordings.
5. It can help you repurpose content
Content marketing is a big priority for many businesses, as it can help you keep your audience engaged and traffic coming to your site. Using transcription to repurpose and improve your content campaigns is a solid choice.
You could, for example, instantly offer transcripts for your audio files (including podcasts) and social videos, making them more accessible. The transcripts can even be turned into search-friendly SRT files, which create closed captions on most social platforms.
There’s also the option to turn a sales video into text for a sales landing page, with only a few tweaks needed. Other possibilities include turning videos into blog posts, coaching calls into online courses, or video testimonials into written reviews on your site. Add in links, throw in some images, and optimize each one for SEO.
The bottom line
Transcription services can benefit your business in a number of different ways, no matter how you decide to use them. That being said, it’s important to ensure that you’re hiring a reliable, reputable agency that can offer quick turnaround times and a high accuracy guarantee. Double check that its security standards are up to scratch, ensuring that it will keep your information as safe as you would.
Ben Walker is the owner of Transcription Outsourcing, LLC.