Conversation Intelligence

Why Do Small Businesses Need Call Recording Software?

Abhishikha Chatterjee
May 4, 2022
7
 mins read

Last modified on

May 4, 2022
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Solopreneurs run most small businesses. Practically, they can’t run off to different places to meet people and have conversations. And so is the case with large enterprises.

Additionally, sales is a process that demands the analysis of hundreds of customer calls every day. Manually analyzing and getting insights is tough, isn't it?

You need a business call recording software system that can do it for you. 

Call recording software is a system designed to help you manage your biz with ease! It allows you to gain close insights into customers and highlight their pain points, desires, needs, ambitions, and more.

Today, we'll see how call recording software can benefit your business and explore:

So, let’s get started and understand one by one.

What Is A Call Recording Software?             

Customers are the foundation of small businesses. Customer insights and data reflects area for improvement. Also, it fills the bottlenecks in the product or service, if any.

Customer feedback also includes market insights, pain areas, competition analysis, decision-making psychology, views, wishes, likes, and dislikes, among other things.

This data is beneficial for the growth of any business.

There’s a need for a system that can store this data for a long time. So that it can help salespeople in sales and marketing of the product or service.

A call recording software is a sales call recording system that records and stores conversations between salespeople and customers.

It performs other functions such as analyzing the sales call, transcribing, creating recording links, and storing and sharing the calls.

Would you like to learn more about the call recording software?  

What Makes Small Businesses Different From Enterprises? 

There’s a considerable amount of difference between small businesses and large businesses.

The core difference between small and large businesses is that fewer employees and leaders run small businesses. On the other hand, large organizations are run by a relatively big group of employees. The further differences are mentioned below.

  • Legal structures - Legal structure includes how businesses are managed, owned, and taxed. In the case of small businesses, the taxes are paid through the business owner's personal savings.
  • Size - The size of the business is calculated based on the factor of the number of employees and the total sales revenue. According to the Small Business administration (SBA), a small business has a size of no more than 500 employees and a revenue of $38.5 million.
  • Financing - Financing is the funds required by businesses to grow. Large corporations get funds from selling stocks or selling corporate bonds. On the other hand, small businesses derive funds from savings, loans, gifts from friends, etc.
  • Target market: Last but not least, the market niche for both business types is different. Large businesses generally target a wide range of audience segments for various products. In contrast, small businesses target niche segments for a specific product or service.

Why Do Companies Record Phone Calls?

In research by Hubspot, they interviewed business professionals of top industries from multiple countries and asked them to give their thoughts on why they use customer recording software. One of the feedback they got was, 

“People overlook the fact that an employee is 95% of your value in a call center. If you have access to a tool (call recording system) that can increase the value of 95% of your company assets...it’s moronic not to use it.”

Companies record phone calls for the following major reasons:

1. Identifying processes, systems, and workflows that aren’t working 

Companies need to go through multiple call recordings to find the system or workflow bottlenecks. Call recording is a part of improving the quality of services.

2. Marketing and branding

Call recordings give the actual voice of the customer. It helps to market the brand in a way that caters to the customer demands.

3. Motivating and rewarding staff members

Companies analyze the performance of sales reps through call recording software.

Sales reps who perform well are rewarded. It boosts their spirit, and they work with more enthusiasm.

Would you like to know more about improving the sales performance of your team?

4. Quality

Top-notch companies in the world let their customer service rep listen to their conversation with the customers. They believe it’s the best way to improve the quality of service.

Both the employees and management can assess the overall performance of the sales rep and make improvements where ever required.

Why Do Small Businesses Need Call Recording Software?

Pandemic has changed the world for the better. The requirements of the business have changed accordingly. Whether it is large or small businesses, all have gone digital.

The ways of storing data have changed drastically. Call recording software and the system is need of the hour.

Here’s why you should invest in a call recording software:

#1 Better Customer Experience                       

The sole purpose of the sales call recording software is to know the customer better. To know what kind of services they expect from your side. The true voice of a customer will tell their pain points, desires, likes, dislikes, needs, and purchasing psychology.

A study by Microsoft shows that Globally, 54% of all consumers say that they have higher customer service expectations than they did just one year ago. Customer demands are changing as the world is growing.

You’ll get more than enough data to make sure quality service delivery. You’ll be able to provide products/services that cater to their needs. Better customer experience would automatically lead to high revenue growth as customers will be ready to pay for your service/product.

Furthermore, if customers require their recordings for some purpose, you’ll be able to provide them with safety and security.

#2 Protection from Legal Issues                                                       

Would you like to fall into the trap of court affairs?

Of course, no! Right?

An unhappy customer is no less than a tragedy. If a customer tries to put false allegations about your company, it can create a sense of doubt about your product/services.

But, if you have a call recording software, there will be a straightforward way to see the faults clearly. You’ll have a transparent system to check what went wrong. There won't be any legal disputes. You can check the recordings to make sure everything is clear.

#3 Helps in Content Creation                                                   

Marketing professionals depend on content to succeed in the post-pandemic era.  customer requirements are the base of content creation.

When you’re well aware of the customer’s pain points, decision-making abilities, the buyer’s persona, likes, dislikes, and interests, you can create content around it.

The content you create will connect with them and help you build strong relationships. The creation of a powerful brand requires an in-depth understanding of customer needs.

Content is part of marketing and branding. Call recording software can become a fantastic source to extract content ideas that work because customers spill the beans by themselves.

#4 Maintain Good Record History                                                  

In retrospection, we go back to the process of everything we did in the past and look for the areas for improvement?

In the same manner, call recording history shows you areas of improvement. Analyzing the call thoroughly will give you an idea about the gaps you need to fill to improve your services.

Call recording software like Convin analyzes the customer call for you and helps you gain valuable insights into customer behavior. Like,  how will they react to your new product in the market?

#5 Helps to Monitor Employees 

Wouldn’t you like to see how your sales reps handle prospects once in a while?

A call recording system automatically tracks all of the conversations going on inside the company. So that you’ll know how your sales reps behave with your customers.

Do they show courtesy and loyalty? Do they represent company values?

Managers can assess them accordingly.

It would be hard to do this in real-time because reps won’t be able to work comfortably knowing you notice them. Call recording software tracks conversations without even knowing them.

You can train your reps depending on where they fall short. Well-trained employees will ensure a good customer experience.

Recommended read: How does call recording software make your team efficient and successful?

How Can I Use Call Recording Software For My Business?

The market is flooded with a variety of software. But you need the one that caters to both the customer and team’s requirements. Right?

It should be affordable, easy to manage, and provide 24/7 support.

Here's what you need to know before purchasing call recording software.

With Convin, we provide much more than just a call recording. The software allows you to analyze calls in structure and access call archives anywhere. Convin can help you build a self-reliant sales team in the new normal. Without waiting another moment, try it today, and guess what? It's FREE!

Sounds interesting? Sign up today!

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