The use of artificial intelligence in sales has been a common trend in the market lately, thanks to its ability to perform mundane tasks, enabling sales professionals to concentrate on more important work. Studies revealed that the adoption of AI technology in sales allows employees to use their time efficiently, resulting in a 40% increase in total business productivity.
Perhaps the most significant advancement of AI in sales is the development of conversation intelligence software, which serves as a smart sales tool for every organization. In general, a conversation intelligence solution is a tool built using AI, which produces optimization for businesses by expediting calls and services and closing deals.
With a conversation intelligence software, businesses are not only able to react and record calls in real-time but also analyze, replay, transcribe, and give them score feedback. This enables your business to determine qualified leads for a more concentrated ad spend to ensure an improved marketing ROI. There are plenty of use cases for conversation intelligence, but here are five ways it has transformed sales and helped businesses crush their competition.
1. It Strengthens Customer Relationships
Excellent customer relationships are the foundation of a successful sales brand. With the help of a conversation intelligence tool, businesses can have good judgment, earn trust, and establish better partnerships with their customers.
With conversational intelligence tools like chatbots, your business can understand keywords and display relevant information to your customers. More than anything else, it also uses data in previously-stored conversations to get rid of customer pain points and personalize interactions.
Interestingly, it also produces conversation analytics to help you gather insights and better relate to every lead during the interaction. It can determine what humans are feeling and know the next step, which makes it one of the top-rated sales software programs in 2020.
2. It Eliminates Feature Bashing
More often than not, salespeople tumble down the net of talking too much about the plugins of their product that they forget to discuss the value it can bring to their prospects. This can cause boredom from your candidates, which might lead them to hang up the call altogether.
With conversation intelligence technology, your sales team can develop topics of keywords that are in particular with your products' names and features. AI will systematically identify every instance of each function discussed in a sales pitch and, subsequently, emphasize how often they are being considered.
This acts as a profound reminder to your sales team not to plummet on a feature bashing rabbit hole and establish awareness of how long they spend selling value. Furthermore, a conversation intelligence tool also helps your sales representatives become more effective at utilizing the phone and more competent in prospecting leads.
3. It Automates Note-Taking
Sales call notes can drive better results, but not everybody is fond of taking them. In most cases, salespeople often avoid manual note-taking because of the risk of breaking their emotional connection with the buyer.
However, note-taking cannot be understated as it lets you stay on top of challenges within multiple accounts. Thanks to conversation intelligence tools, your salespeople can automate note-taking and organize information around triggers and keywords for easy monitoring.
With representatives able to monitor insights and understand trends, they will feel more involved in your operations and the decision-making process. Besides the ability of tagging people, conversation intelligence also ensures that the most progressive data is monitored over time, including potential threats and the next steps.
4. It Helps Train Sales Teams
Sales coaching is vital for many reasons as it empowers representatives to continuously enhance their performance through repetition, practice, and feedback. More often than not, sales leaders and other executives are unaware of what's happening in frontline sales conversations.
This lack of visibility often results in the struggle of closing the performance gaps of your sales representatives, and inconsistency spreads throughout sales conversations. Through conversation intelligence, businesses can determine the areas of improvement to dish out applicable feedback and adopt new successful processes.
Moreover, a conversation intelligence tool also lets you find out the performances of your top representatives and how they progress deals across the pipeline in innovative ways. This empowers you to establish new performance benchmarks that can help you understand how your senior sales representatives handle their clients.
5. It Transforms Customers From Numbers to People
Sales is a human-to-human activity, but relationships have become less human in the past few years, especially with the rise of customer relationship management systems (CRM). Nevertheless, IBM reports that adoption rates for CRM are only at 24% primarily because of its inability to relate to customers.
With conversation intelligence, businesses can gain clarity on how many useful questions to ask against those who do not add any value to the conversation. This is because conversation analytics provide you with insights to evaluate signals that indicate deals that are risks and determine best practices within each phase of the sales cycle.
As a result, your sales representatives' army can bring the customer's voice into your sales process, marketing, and development in real-time. This enables you to ensure that every conversation is personalized and relevant in helping a push a deal through even quicker.
6. Engaging the Modern Buyer
Continuous changes in buyer behavior require an innovative sales approach with a modern strategy. Conversation intelligence software helps businesses provide coaching to their sales representatives and offer prospects more transparency into the purchasing process to deliver better selling experiences.
Convin is a conversation intelligence tool that records, transcribes, and evaluates all sales calls to help teams understand market conditions and drive more sales. It integrates with multiple third-party applications that you are already using!