Communication is a vital part of any business but keeping track of our communication is easier said than done. Who did I speak to about this? When did I mention that? Where am I supposed to be tomorrow? It’s not easy to manage! If this is a problem for you and your team, conversation intelligence software may be just what you need.
What is Conversation Intelligence?
Nothing sets humans more apart from the rest on the natural world than the innovation of language. Whether it’s the task of making a sale, building a relationship with a client, or managing various members of a team, communication is essential to success. The interactions you have with your consumers are the best sources of information that you can have when it comes to understanding a customer. However, who wants to spend hours finding the real information that you need? Collecting the data and sending it to the right person at the right time can feel like an unmanageable feat.
Conversation intelligence software is software designed to record transcribe and analyse conversations between businesses and their customers. This gives various members of the sales team the insight needed to identify the best next steps and allows them to have knowledge of the overall health of any deal or account. While related to call recording software, conversation intelligence software is a little more advanced. Using artificial intelligence, this type of software can analyse the speech text and even the sentiment within the recording of a call. Using a technique called natural language processing, conversation intelligence software, empowered by a self-learning algorithm, can analyse elements of speech and text. With this perceptive information, conversation intelligent platforms can make recommendations backed by data to the user. Additionally, they can also take the initiative to flag deals or accounts that may be lost. Furthermore, they can identify best practises that should be implemented by the whole team.
A Powerful Solution That Keeps on Growing!
As the software develops, many conversation intelligence platforms also offer sales coaching based on the information collected by the software. Some developers have taken the software to the next level by adding the ability to integrate with third-party systems, such as customer relationship management, business intelligence, and marketing automation software. Even more impressive are the centralised dashboards within a system where users can find all their call data and analytics in one convenient place.
Why Is it So Useful?
Are conversations with your customers really that important? You may think that sales or CRM data is the most important data to collect. these figures might tell you about your performance, but they won’t give you the reasons behind the results. You won’t truly understand your customers by looking at profit margins or conversion rates. This is where you will come to appreciate the real value that can be found in your recorded calls and customer communication. Tapping into this treasure trove of information will give your sales team the opportunity to truly understand their sales pipeline and thus know how to improve it. Your customer interactions will highlight important customer pain points that you might not have uncovered in your own research. You will be able to see common topics of interest and keywords that could further be used during sales calls in addition you will have direct information and feedback regarding your service or product and real-life questions that your customers have asked. Any mentions of your competitors matter, whether they are positive or negative, and you will be able to hear about these through your customer interactions. You’ll have a better understanding of what stage in the buying journey your customer is currently in and if there are any obstacles that your sales team will need to overcome to close the deal. Knowledge is power and to make more sales you need to know your clients.
A Powerful Asset to Successful Conversations
The COVID-19 pandemic fuelled earth-shattering changes across several different industries – It changed the way we communicated, possibly forever. Online communication became the norm, and, according to one study, artificial intelligence began to play a role in keeping conversations on track. This recent study showed that people trusted AI systems and their smart reply abilities more than the human staff members with whom they were communicating. Put the use of Siri and Alexa, AI suggestions are becoming part of life already. The life of a salesman is no different. The digital revolution brought on by the pandemic was also seen in a I especially in the field of conversation. A high percentage of start-ups fail within the first five years of creation and one of the main challenges is understanding the customer. When you are still finding your feet as a business, a lot of effort is needed to figure out the market need and product marketing Ki messaging. Conversation intelligence software could be the answer to this problem for many start-up companies.
The pandemic also brought about another challenge to the world of business: remote working and remote selling. It’s a challenge when you don’t know what your teammates are doing or how they are dealing with sales calls and queries. When the team works together in one location, it’s easy to keep track of everybody’s work but when they’re working from home, it’s not quite as simple. Messages can be missed, and communication can easily be misinterpreted. These discrepancies not only damage the unity of the sales team but also can give an unprofessional and disorganised impression to the end user or potential client. In fact, 70% of sales directors believe that poor communication within their team has a negative impact on their performance. A further 67% believe that the lack of an internal communication tool is the biggest problem their team faces. Conversation intelligence software can help with this situation too. By automatically recording analysing and logging the daily sales activities no data will be missed. This data will make the sales pipeline transparent and accessible for the whole team to view.