Even though Carestack, an Orlondo-based practice management SaaS solution company, had so many calls in a day with potential prospects, it could not uncover customer intelligence like their needs, complaints, or intent of connecting(for the inbound team) and leveraging the data for marketing and follow up calls.
With the help of conversation intelligence, Caretack not only got hold of customer intelligence but used this information to improve their video view time by more than 60%, and uptake of the number of attendees for virtual events increased to more than 200.
Hear the truth from the Director of Sales, Carestack;
Conversation intelligence is a relatively new technology, gaining popularity quickly. The sales and support industry is gradually moving from a manual call auditing process to an automated process where conversation intelligence is positively impacting.
But why are companies eyeing software and shifting from a manual process? What’s the need for an AI-backed software tool?
“Convin has helped our sales team with better follow-up. More importantly, we have been using the tool to discover what prospects are talking about to steer our conversations and marketing efforts.” - Dan Hall, Director of Sales, Carestack.
Would you like to experience working on a CI tool?- Yes, let’s try!
Today, our discussion will revolve around:
- What Is Conversation Intelligence?
- Why Do Customer Conversations Matter?
- What Is Conversation Intelligence Software?
- Who Can Use Conversation Intelligence Software (And How)?
- Best Conversation Intelligence Convin Tool Feature
- A Quick Comparison Table
- Final Thoughts
Important Disclaimer: We're proud owners of Conversation Intelligence software and created the product from scratch. In the entire document, we’ll be sharing screenshots and data about us; however, the intention is to help you understand the importance of conversation intelligence and help you shift from a manual call review process to an automated insight-based conversation process.
What Is Conversation Intelligence?
Conversation intelligence is a processed outcome extracted from customer conversations. These outcomes offer data that helps organizations make decisions concerning customers.
Companies invest in customer intelligence because they want to learn more about the customer, their industry, pain points, business processes, and what they need.
Just not sales, other customer-facing enterprises are also leveraging the power of conversation intelligence to understand the market sentiments and behavior.
Customer conversations help us gather the knowledge that’s a goldmine for all organization departments. Broadly, these conversations cover;
- Quantitative feedback,
- Competitor update,
- Market movement,
- Trending pain areas,
- Common objections,
- And plenty of surprise elements.
Why Do Customer Conversations Matter?
Do you know customer conversations contain a variety of relevant information for businesses?
For example, some customers bluntly call out competition names and spill out their weaknesses. A few buyers talk about internal strategy changes like a future merger expectation or possible layoff.
Basically, the customer conversations are a goldmine–containing insights and data that aren’t easily visible on a CRM solution.
Customer calls are the behind-the-scenes of CRM data. They include client pain points, common objections, buying obstacles, topics/keywords, competition outlook, product feedback, and insider information.
Any company that receives the intel creates a business opportunity and offers a satisfactory and personalized customer experience.
The more conversation intelligence you gather about your customer, the higher the chances of closing deals.
Would you like to take a quick tour of the conversation intelligence software?
What Is Conversation Intelligence Software?
Conversation intelligence software is an AI-backed tool that automatically records online conversations between customers and the organization, transcribes them, analyzes them, and disseminates them to other team stakeholders in a comprehensive and digestible format.
Call interaction insights received from the software helps sales and support teams in:
- Accessing key sales information
- With integration, ramp up data entry and notes into CRM.
- Share customer information with different stakeholders on the team.
- Improve sales coaching and training facilities.
- Find out more business opportunities and selling points.
- Improve cross-functional collaboration and break siloes.
- Level-up trainee onboarding and ramp-up time.
- Stress more on compliance monitoring and regulations.
- Streamline performance assessment and review.
- Create more data for follow-ups and further qualifications.
Did you know conversation intelligence software can help you improve your storytelling skills?
Who Can Use Conversation Intelligence Software (And How)?
Sales Teams
Sales teams represent the organization and are the first point of contact to the customers, eventually creating the first impression. More than business, the pressure and responsibility to create a good rapport with the buyer is immense.
1) Sales Reps (SDR and AE)
Sales reps and AE are the front-face of the sales process. They converse with the buyer and collect information throughout the sales process.
The initial data contains the client’s problem statement and needs. The importance of active listening is high at this stage; the conversation intelligence tool plays a supporting role.
The tool generates notes while the rep is busy listening to the customer, asking relevant questions, and uncovering the root cause. The software solution summarizes the call discussion–reducing multi-tasking pressure on the reps. To put a cherry on top, the notes are automatically pushed to your CRM system.
Even after the call, the CI software is responsible for helping the sales rep guide on what went right and what needs improvement. Call quality statistics are beneficial for understanding what can be improved.
Last but not least, the call recordings play a vital role in creating the sales pitch for the next set of calls with the same buyer. Yes, the follow-ups are taken care of with the efficient CI tool.
2) Sales Leaders
Sales managers and senior leaders may not directly get in sales calls but are responsible for managing the quality of the sales meetings. And enter the ground in handling convoluted deals.
Sales leaders use the recordings with the help of moments, keyword filters, and call notes to review the call for
- Product or service knowledge assessment and feedback
- Measure productivity
- Compliance monitoring
- Quality valuation
- Win and loss analysis
- Create sales coaching and training plans
- Understand customer psychology
- Gauge market trends
3) Customer Success Representative
The customer success teams come late in the sales process. But the responsibility to retain customers and extract business from them is incomparable.
To make the best upsell or cross-sell, they need to see a holistic view of the customer. They need an end-to-end understanding of every part of the deal and approach the customer accordingly.
Call notes and recordings are essential elements for the customer success teams.
One more advantage of having the customer success team talk to customers is that they quickly open up about product feedback and objections, which was difficult to confide with the sales team.
Customer Support Team
Support teams handling inbound calls are constantly judged for quality and seek continuous feedback on their query resolution techniques.
The automated quality management and scorecard system ensure customer success teams meet quality standards and create high customer satisfaction.
One essential part of having a CI tool is that customer support teams can access past objections and queries.
Marketing Team
Marketing folks feed on customer data and insights. Campaigns and activities are built around customer behavior, hence the need for data.
The personas are not created by sales only; marketing teams too research their customers and create personas which further helps build marketing campaigns.
Another crucial point to note is that with CI, the marketing teams can establish a customer journey for different personas and industries, making it easier to drive ABM plans.
The CI tool offers keywords, moments, call summaries, and recordings to make the life of marketers easier.
Here’s How Carestack’s Marketing Team Used Conversation Intelligence to accelerate the marketing efforts.
Product Team
Product teams need user testing results from customers and internal users. Because receiving ideas and feedback from buyers is extremely important to improve the solution.
Call recordings and notes between sellers and customers are helpful for the product teams.
Moreover, keywords and moments help in capturing competition product strengths and weaknesses.
Another critical use of call recordings is observed during a cross-functional collaboration session with the sales team. The tapes and analysis help the product team prepare for the meeting with the buyer.
Miscellaneous Personas
C-suite executives work more than 60 hours a week but rarely find time to interact with every team and understand the market trend. The software offers high-level analysis and dashboard views to understand the present state of call quality.
Surprisingly, many HR teams are leveraging CI tools. Approximately 77% of new employees reach their first performance milestone after formal onboarding. Hence HR can use CI in formal onboarding and reduce the ramp-up time by using training recordings and playbooks.
Related: How to build an A-grade sales playbook using Conversation Intelligence for today’s sales teams?
Conversation intelligence solutions are not only used by HR teams for bringing new hires up to speed with the organization, its tools, processes, and other teams but are also used as a personalized repository for quick access and verification of details.
Best Conversation Intelligence Convin Tool Features
Convin, as you’re aware, offers a conversation intelligence tool. That’s no news for you.
We want you to know some use cases, benefits, and features that customers have exclusively reported.
Let’s begin with the characteristics of the Convin CI tool:
1. Records & Transcribe meetings
Conversation intelligence integrates with your cloud telephony system/ dialer system/ video conferencing platforms to fetch and record all conversations. Automated transcriptions reduce the time of review and preparing for follow-up meetings.
2. Call Performance Statistics
High-performing CI tools offer automated call quality assessment. Convin automatically assesses calls and offers the following set of call quality statistics:
- Talk ratio,
- Longest rep monologue,
- Longest customer monologue,
- Patience,
- Question rate,
- And Interactivity.
3. Personalized Call Review Questionnaire
Contact center agents follow a call script and process. The Contact center managers or QA managers configure a customized feedback questionnaire corresponding to a script to gather in-depth details about the call quality and meeting performance.
4. Keyword-Based Navigation
Keywords help reviewers and sellers to jump directly to the critical areas of the call. Keyword analysis improves navigation throughout all recording. It helps in highlighting critical topics throughout the call.
5. Summarizes the Call
The highlight of the CI tool is the call summary offered in the form of transcription and notes while the sales rep or AE is busy actively listening or asking questions.
Topics Discussed
Action Items
Call notes
6. Create Digital Sales Playbook
Sales playbooks leveraging the call recordings. Different scenarios such as pricing discussion, negotiation, training, or objection handling can be covered in the sales playbook.
The playbooks could be a mix of
- Product demo,
- Sales pitch,
- Crisp Organization brief,
- Sales presentation skills,
- And best objection handling.
A few everyday use cases of the Convin software solution:
- Market Intelligence & Learning Trends
- Bridge the gap between top performers & the laggers
- Build marketing campaigns
- Strategize follow-up calls.
- Accelerate Sales Coaching and Onboarding
- Team Review and Assessment
- Remove intuition & guesswork and increase transparency
- Compliance and quality assurance
With Convin, you can be completely assured of all the above use cases and team requirements. The product team aims at more functionalities that reduce the burden on leaders and sales managers and make room for core activities for the sales reps.
You must browse g2 conversation intelligence if you are looking for conversation intelligence software for your sales tech stack.
Recommended Read: 5 highly-effective conversation intelligence use cases to get started
A Quick Comparison Table
Would you like to explore the conversation intelligence software market?
Let’s check out two market leaders and a comparison with Convin.
Why are companies switching from Chorus conversation intelligence?
Final Thoughts
“I have a Call Recording Software; Why do I need conversation intelligence software?”
Several sales teams are facing the same dilemma as you read above.
Having a call recording software is an excellent investment, but that doesn’t help scaling companies like yours stay at par with the competition.
Traditional call recording softwares’ were created with the intention to record calls, not analyze the call for insights. But why is the a sudden need for analysis?
Because the decision-making for sales deals is more productive when past calls and future opportunities are aligned with the help of conversation analytics.
So, if you have been using a call recording software and want to learn what’s more valuable for your business and sales team, then take a free ride and understand your requirement first.
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