Conversation intelligence helps you understand your target audience better to provide a great customer experience to them.
In times past, the answer rate, total number of calls made by the sales reps, number of deals won or lost, revenue projection, or stage of the deal were metrics used to measure success.
Yes, it’s essential data to measure, but it misses a critical piece – what else can you do to improve your sales process and generate more leads?
The answer lies in conversation intelligence – a sales toolkit for sales leaders to help generate more revenue.
What is conversation intelligence
Conversation intelligence is drawing insights from everyday conversations with your customers or prospects.
These conversations can be made through different mediums such as video, chat, phone calls, etc.,
Conversation intelligence helps you analyze customer conversations and allows you to understand what things can be done differently to capture the interest of more prospects.
It’s a powerful tool, but many companies fail to make the most use of it.
For example, making notes manually increases the chances of missing out on important things during the sales call. And the sales coaching team and QA just use sample sales calls to give feedback.
Using conversation intelligence on every sales call ensures that none of the critical points is left out and the insights drawn from it contributes to improving the sales performance.
In short, this method uses an AI-based model to listen to the conversation, drive analysis and offer actionable feedback to the sales team.
Who uses conversation intelligence
Conversation intelligence is for
- Sales leaders
- Sales reps
- Sales coach
- Sales manager
Let’s take a look at them one-by-one.
Sales leaders use it to get a single view of all the customer conversations done by the sales team.
It helps them figure out the top trends, successful sales reps, and winning conversations. And it easily lets sales leaders identify and set the sales process benchmark and vet the sales reps through best practices.
To sum up, conversation intelligence helps sales leaders to make data-driven decisions to help improve the performance of their sales team and meet their goals.
Since the job of a sales coach is highly demanding and challenging. They need to shadow the sales call, listen to every minute of it, and give feedback based on their findings.
Though they have followed this process for decades, and it’s quite time-consuming and inefficient.
Conversation intelligence can save time drastically by pointing out particular conversations that need their time.
It will help the sales coach to highlight the strong conversations and fix the weak calls.
The role of a sales manager is to ensure that your sales team performs their best.
Conversation intelligence helps them figure out sales reps that need attention and identify the gap in their sales call.
Thus, you can make a list of the same and focus more on them to help them use the strategies of top sales reps, resulting in your sales team closing more deals.
Conversation intelligence lets sales reps focus on selling instead of taking notes. Each sale is already transcribed, tagged, and available in the CRM for sales reps to listen to.
It also makes a learning environment so that sales reps can see themselves against the benchmark.
Sales reps can listen to the calls of top-performing agents, compare their calls and see where they can improve more.
As each call is tagged in the CRM, sales reps don’t need to filter through each call separately.
Benefits of conversation intelligence
It provides complete coverage
The current methods used by the sales team to analyze customer conversations never offer 100% total coverage.
By using the conversation intelligence tool, the QA team and sales coach can quickly analyze all the sales calls without actually listening to any one of them.
This can help them focus on giving coaching and feedback instead of listening to random calls.
Benchmarking and evaluation
A conversation intelligence tool can help you to identify benchmarks related to call quality. It can also help you see who meets the benchmark quality and who is not.
Benchmarking always has a direct impact on the outcome of the sale, which can also be used to evaluate the sales reps’ performance.
What do the best sales reps do differently that average sales reps couldn’t do to close more deals? Do they ask intelligent questions or handle client objections in a different way? Usually, it’s hard to figure out the actual reason but this problem has been solved by conversation intelligence.
Conversation intelligence can point out and identify the best and average behaviors, allowing the sales reps to improve their weak points and replicate the best tips in their sales call.
Productive sales coaching
Conversation intelligence gives more practicality in the sales coaching process.
Instead of spending time listening to random calls, sales coaches can listen to those calls detected by the tool and better direct their attention.
Straightforwardly, they can listen to certain parts of the conversation, marked by the tool, thus saving a lot of time.
Quicker agent onboarding process
By using conversation intelligence tools in their sales team, sales managers can quickly onboard their team members allowing them to be 3x more productive.
To do so, sales managers can show the successful sales call, winning pitches, best tips and tactics and how it all ties up together to give a better sales outcome.
In order to prepare the presentation, sales managers don’t have to sit in front of their computer all day. Conversation intelligence tool can do all the work, thus letting you give feedback to their sales team.
Implementing a conversation intelligence tool lets the sales team save money in many areas.
It helps in giving out a quick feedback cycle, saves QA time and also speeds up the agent onboarding process.
This tool also catches any sales mistake in time. Thus, saving them both time, hard work and money.
Conversation intelligence is not valued enough in many companies. But it’s a highly valuable tool. It draws out meaningful insights from the sales conversations which is impossible for sales reps to listen to each and every one of them. A conversation intelligence tool helps in being more productive, and saving time.