Technology has become part and parcel of modern businesses. Every company today uses the latest tech in one way or another. For instance, most of their marketing strategies utilize social media because of the ever-rising number of internet users. However, that’s not the only trend in the marketing department.
Artificial intelligence, for one, has also grown in popularity, with many companies using it to enhance their sales. The ability of AI to perform monotonous tasks gives the sales professionals enough time and space to concentrate on other important projects.
Many significant advancements of AI have been seen over the years in this industry, but perhaps one that seems to interest many today is conversation intelligence. What is it and how can it smarten up your sales team? Read on to learn more!
What Is Conversation Intelligence?
Simply put, conversation intelligence refers to a combination of natural language processing and machine learning technology. It’s basically software that analyzes speech and text using artificial intelligence. The main objective of this system is to derive insights based on the interaction or conversations between a given company’s sales agents and the customers.
The conversation data fetched here is streamed to CRMs, data analytics, and other digital experience platforms to take real-time actions on the data. This system is often used by marketing, sales, and customer service teams to enhance the overall experience of all stakeholders within the company.
You might be wondering why companies go for this technology when they can just listen to phone calls and do a manual analysis of the conversations. Well, this is only possible when you have a few calls coming in per day. However, when there are hundreds of thousands of customers calling, your data analytics team will be overwhelmed and you won’t get accurate results.
How Conversation Intelligence Makes Your Sales Team Smarter?
With that said, if you’re looking to make your sales team smarter and more productive, here are some of the reasons why you should try conversation intelligence.
1. Eliminates Time Wastage In Call Reporting
Manual call reporting involves going through conversations from the first minute of the call to the last word. For a company that deals with less than a hundred calls, that might not be an issue. However, even the most experienced data analytics team will find such tasks monotonous, especially if they have to analyze hundreds of calls from start to finish.
Conversation intelligence makes things a lot easier by getting rid of the need to listen to all recorded phone calls. Once the calls have been recorded and transcribed, the software scans through the transcribed files for any keyword that you might’ve identified and presents them to you as tags.
Whenever you click on any of these tags, you’ll be taken to the exact point in the transcription and the original recording where that word or phrase was mentioned. This technology can cut your call analysis time by a significant margin. As such, you’ll be able to identify any mistakes in agent-customer interactions and make changes within the shortest time possible as opposed to doing so after several days or even weeks due to manual reporting and analysis.
2. Identify Promising Leads
Every member of a sales team is trained to distinguish between a good and a bad lead. However, even with several years of experience, one can still miss the signs and end up losing a prospective customer. Manual call reporting might not help in such a case because your analytics team will have to spend a lot of time listening through the conversation before they can give their verdict.
Conversation intelligence software makes the members of your sales team smarter by helping them identify quality leads. For instance, you can program the system to spot keywords and key phrases that could show the caller’s interest in your products and services. Phrases such as ‘next steps,’ ‘this week,’ and ‘your best price’ are some of the signals that you might want to follow up on.
Of course, not everyone that uses these words is willing to go the extra mile, but it’s a good start. Once the system has flagged these phrases, your team can analyze the call and see whether that’s a promising lead, then you can work your way up from there. Another advantage of using this feature is that you can trace any promises made to customers and make sure that they’re fulfilled.
3. Helps You Identify Training Opportunities
Continuous coaching is key to a smarter sales team and better customer experience. So, it’s imperative that you take your sales department and call center agents through refresher training at least once in a while. This will keep them on their toes and give them the resources they need to tackle emerging customer needs.
However, you cannot do proper training if you don’t have a specific target. This is where conversation intelligence comes in handy. Instead of manually listening through conversations, you can simply employ this technology to identify the calls that are converting and the ones that aren’t. Most conversation intelligence software programs will also show you the talk track of each call. From there, you can see which technique works and which method needs immediate changes.
The best part about this technology is the fact that you can program it to automatically show you training opportunities. All you need to do is let the software tag a given conversation as a ‘training opportunity’ if certain words or phrases of a predefined talk track aren’t met. For instance, if an agent doesn’t use certain words at the beginning or at the end of the call, the recorded file will be tagged as ‘training opportunity,’ and you can let them know that what they need to change.
There are many ways to monitor your business’ success, and conversation intelligence is one of them. This technology allows you to record call center conversations and analyze every call without having to manually listen through all agent-customer interactions.
Among the benefits, you’ll enjoy as a company includes the reduced amount of time wastage, enhanced lead conversion rate, and better coaching and training programs for your sales team.
Mashum Mollah is a tech entrepreneur by profession and passionate blogger by heart. He is on a mission to help small businesses grow online. He shares his journey, insights and experiences in this blog. If you are an entrepreneur, digital marketing professional, or simply an info-holic, then this blog is for you. Follow him on Instagram, Twitter & LinkedIn