Receive an Alert When a string of specific characters is found in transcripts

Hello,

Is there a way to turn on a notification that when a specific phrase comes through in the transcripts?

I can see that I have the option to search for that phrase, but I don't want to manually have to remember to check.

Another option is to grab the VTT file but that's not a useful file format for me. I need a TXT file to make it easier to automate that step. 

So if the above isn't an option, is there a way to adjust my transcripts to be TXT files instead?