Conversation Intelligence

What is Conversation Intelligence?

Introduction of Artificial Intelligence- Natural Language Processing, Machine learning, LLM models, and the most recent Generative AI have completely transformed organizations. So, why should simple note-taking in a meeting be left behind?

Conversation Intelligence uses artificial intelligence and natural language processing to record, transcribe, and analyze daily conversations while integrating with other tech-stack. 

Conversation intelligence tools automatically shares meeting details with peers and managers, cutting down another manual job and saving time.

Before we move ahead, let’s quickly address a few confusions:

1. What Is the Difference Between Conversational Intelligence and Conversation Intelligence?

• CONVERSATION INTELLIGENCE platform leverages data analytics to enhance sales, service, and support strategies. CI analyzes human interactions–capturing sentiments, keywords, and more. It optimizes interactions, identifies training needs, and uncovers hidden sales opportunities.

• CONVERSATIONAL INTELLIGENCE platform crafts lifelike dialogues through chatbots and virtual assistants. The conversational Intelligence platform focuses on creating systems that communicate and assist like humans. It enhances user engagement and efficiency.

2. Why Is Conversational Intelligence Important?

Conversational intelligence platforms make it easier for customers to engage with contact centers. The tool quickly handles minor issues while complex problems reach agents.

5 Major Benefits of Conversation Intelligence Software

1. Conversation Intelligence ensures 100% auditing across customer channels. 
2. Conversation intelligence automates repetitive manual tasks and eliminates human intervention.
3. Conversation intelligence can reduce agent ramp-up time by 60% and improve productivity by 3X.
4. Conversation intelligence can monitor compliance and assign auto-coaching sessions for improvement areas.
5. Conversation intelligence tools improve sales conversions by at least 21% and CSAT by 27%.
   

Why Is Conversation Intelligence Important?

Although relatively new technology, Conversation Intelligence, aka conversation analytics software, is gaining adoption momentum across sales, support, and collections. Let’s look at the following scenarios to understand why exactly:

Let us take a scenario of a startup organization comprising 20-30 representatives. Every rep here successfully engages with at least 30-40 potential clients daily. 

Every call lasts for 30 minutes, sometimes 45 minutes. Now for an auditor to listen to every call and provide feedback is nearly impossible without an automated tool like conversation intelligence software.

In the same scenario, think about the agents. For every call they make, they either manually log call data into the CRM and send reports to their managers or deploy additional tools to automate the process. 

In both cases, Conversation Intelligence can easily integrate with the sales stack and automate the entire call monitoring process without needing additional tools.

Additionally, it takes a lot of time to coach new representatives. It takes around 90 days to thoroughly ramp-up new agents. 

With conversation Intelligence tools, organizations can enroll their agents in Learning and Development Systems(LMS). LMS combines a knowledge repository, pre-recorded coaching sessions, learning material, and assessments to handle different customer scenarios. This automation requires no additional money or resource time.

With customer intelligence obtained from the call, not just contact centers but sales and marketing can also benefit. Marketers can create messaging and content that resonates with the customers and help sellers engage correctly with the prospects.

But how does that work?

Unlock efficiency and insights with Convin's Conversation Intelligence

How Does the Conversation Intelligence Platform Work?

Here’s how conversation intelligence works and helps your entire business stay aligned to achieve goals:

1. Integrate - The conversation Intelligence solution seamlessly integrates with your customer engagement platforms like emails, calls, Zoom, Gmeet, etc., such that it can track the conversations. Additionally, it integrates with other sales stacks like CRM to automatically log the call data.
2. Record -  Conversation Intelligence records 100% of omnichannel conversations such that the agents don’t waste their efforts and time making the minutes of the meetings.
3. Transcribe - The conversation intelligence tools use LLM models to convert speech to text and identify key moments from the conversation.
4. Analyze - Post transcription, the tool analyzes the conversations based on pre-defined business-impacting parameters. Post analysis, the tool highlights the call quality stats, critical moments, missed opportunities, customer feedback, queries, and actionable items. 
5. Distribute call data - The conversation intelligence tool distributes the analysis to concerned managers and leaders. 

Managers can clearly understand which agent behavior drives maximum conversions and what makes customers churn. Managers can even understand the conversation pattern of high and low-quality leads and save time.

Features of Conversation Intelligence Software

Conversation Intelligence features make the solution a must for every contact center.

1.  Call Recording

Conversation Intelligence records and transcribes every engagement over dialers, video conferencing, and emails. Post-recording, store the conversation for future reference. Users can easily find any recording in the dashboard and create many playbooks of the calls.

2. Keyword Filtering

Managers and auditors can easily navigate through call transcripts by filtering keywords, actionable items, queries, feedback, and suggestions. One can quickly jump to the exact timestamp of the keyword used.

3. Conversation Analytics

One of the best-hidden advantages of conversation analytics solutions is that it helps uncover real customer intelligence that directly impacts the business, such as customer objections, challenges, competition info, and intent. It even helps unravel the customers' changing buying behavior and sentiment over a call.

4. Coaching Agents

Based on AI-driven call scores, the CI platform can identify agent performance issues and trigger personalized agent coaching. The coaching instances are extracted from the top-performing peers and other manually added learning assets. 

Get your hands dirty on a free conversation analytics platform

Who can make use of conversation intelligence software in an organization?

Conversation Intelligence is not just for contact centers but for your entire organization. 

By gaining customer insights from the platform, organizations can align departmental goals with the end goal–increase revenue. 

With conversation Intelligence, organizations get ensured ROI. And not just from the tool but from the entire organization. Enlisting a few departments that can take advantage of the AI-powered Conversation intelligence tools:

1. Sales

For Sales, the opportunity with conversation Intelligence is endless. The solution can help in sales training, reporting, sales enablement, improving the call script, and much more. It can help sales leaders know if the sales reps are:

• Speaking correctly with customers.
• Adhering to the call script.
• Listening and responding to the customer.
• Applying feedback and coaching tools.

2. Marketing

With conversation Intelligence, marketers get direct access to the voice of customers. Marketers can curate customer-centric content that helps the sales team engage smoothly with customers and reduce the sales cycle. And even attract leads that would convert—increasing the MQL to SQL ratio.

3. Product Team

The product team identifies and evaluates customers' feedback and suggestions on the products and services. And implement the amendments to the solution, increasing product satisfaction and helping their team build a product that meets market needs.

4. HR

Did you know that 77% of new hires hit their first performance milestone with formal onboarding? 

Properly onboarding and ramping up new agents takes plenty of time and effort. Most ramp-up programs go on for 30 to 90 days. Organizations spend loads of money on training new hires. And bring them at par with their peers–all with the help of tools, company resources, and efforts from trainers and senior employees.

Organizations can create a knowledge repository for agents with conversation intelligence tools, especially for your new agents. They can create different playbooks consisting of a performing conversation, winning behavior, product details, organization brief, etc. HR teams would not only automate agent onboarding but also reduce acquisition costs.

What Are the Use Cases of Conversation Intelligence Software?

Conversation Intelligence identifies keywords and topics, and lists them for the managers. A manager can quickly jump to the topic and analyze the call insights. Conversation Intelligence can help organizations take notes, identify call compliance violations, escalations, and more. Let us briefly look at the use cases of the conversation intelligence platform:

1. Agent Training and Onboarding

Automatically generate coaching opportunities after reviewing agent performance. Based on the AI-driven call scores, let the CI tool trigger personalized agent coaching based on the requirement. Coaching instances are extracted from the top performers' conversations and best practices. This method improves call handling quality and reduces supervisor escalations.

Enhance personalized coaching with Convin's Conversation Intelligence

2. Sales Enablement

A recent study found that companies with sales and marketing aligned have 67% higher profitability. And this is only possible if marketers know sales requirements and customers’ evolving needs. Convin gives direct access to the organization’s customer insights by analyzing daily sales conversations and gathering insights. So, organizations can create content and programs that would enable smooth selling. 

3. Market Intelligence

Did you know 90% of the sellers don’t use the sales material because it is irrelevant and outdated? 

Conversation Intelligence gives direct access to voice of customers and their changing needs. Organizations keep track of the ever-evolving market by analyzing customers through conversation analytics software. Insights like sentiments, emotions, feedback, etc., are instantly available to the contact center managers.

4. Agent Performance

Conversation Intelligence gives visibility into how agents and even auditors are performing daily. The audit score and call quality stats give the accurate picture of agents progress. The tool offers recommendations by pinpointing soft skills, best practices, growth opportunities, and winning behavior. 

5. Real-time Guidance

AI-backed conversation intelligence tools like Convin are equipped with real-time monitoring and guidance for agents. Instead of offering feedback and insights post-call, Convin’s Agent Assist offers recommendations during the customer call. 

6. Compliance Adherence

Convin allows managers and leaders to visualize the contact center agent operations under a single umbrella. The CI platform can assess call quality, highlight important moments and missed opportunities, and get actionable insights in your inbox. 

7. Account Monitoring

Convin gives direct visibility into every account, from the first contact to the sweet gong of closing the deal. It identifies deal risks, opportunities, and blockers; communicates them to team members. The seller can easily collaborate in time with their team and close the deal. And also offers information on deals that might need an extra push. 

The good news is conversation intelligence integrates with your CRM solutions, any CRM.

Convin’s conversation Intelligence platform seamlessly integrates with almost all critical tech stacks in the market. Have a look:

• Dialers: Ring Central, Freshcaller, Dialpad, Outreach, Aircall, etc.
• Video Conferencing: Zoom, Bluejeans, Google Meet, Microsoft Teams, Cisco Webex, etc.
• Calendar: Outlook, Google Calendar, etc.
• CRM: Salesforce, HubSpot, Freshworks, Pipedrive, etc.
• Team Messaging: Slack, Google Chat, etc.

Streamline your sales with Convin's seamless integrations

Convin’s conversation analytics software is safe

At Convin, we understand the customer and call data security important; that’s why we ensure your data is entirely secure and safe in our in-house transcription and NLP engine. We ensure your conversation data security in the following ways:

• In-house transcription and NLP
• Secure login and monitoring
• Hosted on AWS
• SSL data encryption
• Role-based access control
• Enterprise-grade application monitoring
• GDPR-compliant meeting recording

There are several CI tools in the market, such as Conversation Intelligence HubSpot, Dynamics 365, Salesforce, CallRail, Salesloft, etc. However, Convin’s Generative AI capabilities are outshining these players and making contact centers into profit centers. 

Also, Convin supports languages beyond English. And it takes only 2-3 weeks to get you onboarded. 

Get a quick tour of our conversation intelligence platform.