Customer conversations are valuable assets of an organization but under-utilized one. Ask why?
Let’s take the case of a sales rep conducting a meeting with the procurement manager in XYZ company. The procurement manager readily discloses problem areas, bottlenecks, incumbent software and accidentally or intentionally reveals the competitor’s offer. The prospect may add a few feature lists, pointers they liked and start discussing the price offered by the competition.
In another instance, the manager may start discussing an industry-wide vendor sourcing issue, hinting at an opportunity for the sales organization.
In the case mentioned above, the sales call turned out to be an informative session for the sales rep but also applicable for other members of sales, marketing, and customer support.
Had the sales rep recorded the call and shared it with other organization members, the call could have benefitted them and served as an asset in the vertical domain category.
What you just read was a single yet powerful reason for investing in call recording. There are plenty of reasons why many fast-growing and high-velocity companies are inclining towards investing in call recording software.
Let’s give you a quick walkthrough of what’s call recording software and how it makes your sales team more productive and successful?
What is call recording software?
Customer engagement offers valuable insights to help sales and other teams gather helpful information about the customer and their industry. Additionally, these insights contain feedback, market trends, competitor details, pain points, relevant objections, and many surprise elements.
The information gathered in the conversation is helpful for the organization and demands a call recording and storing platform. A platform that automatically records meeting conversations, transcribes calls, analyzes, logs, tracks, and makes the recording link easy to store, share, and playback. A solution with all these features and more are categorized under call recording software.
Do you want to know how call recording software works? Learn more
Sales leaders can experience the impact of artificial intelligence (AI) for call transcription and analysis. The recording platform will sooner or later become an industry standard for scaling sales teams because call recording makes sales coaching and customer experience much easier and proactive.
How does call recording software benefit your sales team?
Building an A-class sales team is no easy feat. It takes months to ramp up new guys and weeks to re-engage the trained employees.
Often, time is the biggest bottleneck when it comes to sales coaching and training. Not just sales leaders but employees also look at call coaching as an optional activity.
Salespeople underestimate call coaching because they aren’t familiar with the call recording software that makes businesses build the best sales team with minimal effort and maximum outcomes.
Leveraging a sales recording platform makes sales conversation processes repeatable and reliable. But that’s not all; here are a few more reasons to help you understand the benefits of call recording software:
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- Market Trend Updates
Do you know the fastest and most relevant way to learn market updates?
If you are thinking about the internet, then let us tell you that sales calls are the most reliable and efficient way to get hold of market trends.
The source of truth is trustworthy than the information stated on the internet. Because the problems or industry standards shared by customers are proven, these insights can be extracted from the call recording platform as market trends and shared with the rest of the teams.
- Ramp-up time
Did you know your team can save 60% ramp-up time by plugging into a call recording software?
As per stats, an account executive spends 2.7 years on the job and takes approximately 4.7 months to catch up. The reason we mention the figure is that there’s a cost associated with every executive and rep. And one can’t control the turnover trend. To utilize maximum time within the 2.7 years, 4 months of training should be reduced further.
With the conversation intelligence call recording software, you can expect a drastic drop in the ramp-up time and a sudden surge in productivity.
- Improved follow-up calls
Convin’s CI software is instrumental in identifying the next steps, meaningful moments, and highlighting noteworthy discussions. These small activities create a significant impact on the follow-up preparation process.
The calls are also accessible to higher-ups who can participate in the call preparation process and recommend valuable tips.
- Performance review and feedback
The sales call recording is a crucial reference point for sales leaders. Performance insight received from the software gives a fair idea of how reps and account executives are performing.
Simple call metrics like
- Talk ratio,
- Longest rep monologue,
- Longest customer monologue,
- And question rate.
Are automatically presented by the software.
- Persona Research
Identifying the right buyer and user persona is a critical sales process but is often ignored and mistaken.
Frequent call recordings on the software can help your sales enablement teams and other departments like product development to understand the prospect better. Closely hear their pain points and expectations, then act upon them.
Unless the persona is clear, solution selling is a far-fetched dream.
- Personalized selling
Positive customer experience doesn’t happen overnight. It demands market research, studying persona, and, more importantly, personalized selling.
Personalized selling comes with time but is understandably catalyzed by the call recording software. The call notes and detailed information supports your sales guys by giving more profound insights into how you can tailor communication and content with your leads.
Undoubtedly, sales enablement teams have a significant role to play, but enablement teams can use conversation intelligence software to understand buyer requirements better.
- Develop Sales Playbook
Reps and leaders can use recording and transcripts of successful and unsuccessful sales calls to analyze sales processes, develop sales scripts, create sales best practices, and experiment with messaging to convert prospects.
Call recording software of Convin offers an out-of-the-box feature that makes sales playbook creation a hassle-free experience.
- Sales coaching
You’ll be astonished to learn these facts about sales coaching-
✅According to CSO Insights, 47% of all sales managers spend less than 30 minutes per week coaching their reps on key skills and behavior.
✅As per Hubspot, 75% of sales organizations waste resources due to random and informal coaching.
Formal sales coaching programs accelerate learning. The sales leaders encourage sales coaching and add incentives for sales managers to perform the activity more seriously. Yet, with a lack of time and never-ending sales targets, coaching gets neglected.
With sales call recording software, coaching is simplified and more automatic. Sales leaders can make zero efforts and pinpoint areas of improvement and benchmark calls that are worth replicating.
Sales coaching on the call recording tool is not only helpful for one-on-one coaching, but also utilized in training and onboarding new sales hires.
- Reduce Sales Turnover Rate
Do you know the turnover rate in the sales industry is 35% and higher in comparison to an average of 13 % attrition rate in all sectors?
Sales coaching on a call recording solution can have another profound impact. It brings down the sales turnover rate because more and more salespeople perceive coaching as professional and personal development.
Moreover, coaching motivates the sales guys to achieve more and backs them wherever they encounter pitfalls or lose confidence.
Formal call coaching is instrumental in developing brand advocates in the company. The more the sales guys learn and absorb the essence of the product, the easier it gets to talk about the product elsewhere.
Cool features to watch out for in your next Call Recording Software
You can expect all the standard recording, analysis, logging, and tracking. But a few features not only blow your mind but make your life easier. Here’s a list of remarkable capabilities to watch out for in your new call recording software:
- AI-driven- Experience automatic call recording, transcription, and analysis of all of your sales calls. Also, watch the solution identify keywords and critical topics throughout the call so that you can jump directly to those points for deeper insights.
- Get access to Call Moments- Access key discussion topics and parts of the call that aid in creating a personalized experience for the next stage.
- Integration with CRM tool- Experience automatic flow of call data to the associated contact records. All your call and contact data will be centrally stored and easily accessible to your sales team on both CRM and Call recording software.
- Performance Statistics- Sales managers and leaders can quickly access performance statistics such as the talk ratio, longest rep monologue, longest customer monologue, patience, interactivity, question rate, and more.
- Customizable Evaluation Questions- Every client can add their own set of customized performance review questions that the reviewer or manager answers after skimming through the call details.
- Get Access to Deal Intelligence- You can level up your sales conversations by adding a deal intelligence Dashboard to your conversation intelligence recording software.
If you love what you just read, why not take a quick look at these awesome features? - Yes, Count me in!
When should you invest in call recording software?
As an aftermath of the pandemic, many teams have been displaced to remote locations, and collaboration has completely shifted to digital platforms. With the sudden influx in call volumes and more employees working remotely, sales managers struggle to coach and manage their teams.
As it is, 47% of all sales managers coach their reps less than 30 minutes per week on key skills and behavior.
Coaching has become more challenging as workplace conditions have changed. Sales managers are occupied in team management and collaboration solutions, limiting the time needed for call coaching.
Hence, it becomes necessary to timely identify factors that prompt investing in a call recording software.
To develop a high-performing sales team, coaching cannot be compromised. Sales managers must identify tools like call recording software to solve the slack created due to remote locations and scaling sales opportunities.
With call recording software, managers gain performance insights to provide relevant and timely coaching across the team, irrespective of location and timezone.
See what customers are writing about their experience with the call recording CI software of Convin- take me to g2 marketplace.