Conversational Intelligence Software: What Is It All About?

Imagine this-you're on a call with a prospect, and the prospect reveals vital information about their company, their goals, and why they’re considering your organization to solve their problem. As a sales rep, you can only listen and maybe, note down only a few takeaways from the conversation. But, what happens if you want to revisit the conversation summary, so you’re not missing out on any important detail? Are you thinking of call recording software? Companies have been recording calls for years, but unfortunately, the recordings usually live in a dust folder in a floating cloud. Even if you do access the calls, very few people, use them in a meaningful way. So, how can sales teams use the call recordings to derive actionable insights?‍ Enter conversation intelligence tools. When most people hear about conversation intelligence, the first thought is that it is a chatbot. But unlike chatbots, conversational intelligence software, or conversation AI is capable of assisting sales reps to achieve their goals seamlessly in tandem with human intelligence.

What is Conversational Intelligence?

Conversation intelligence software records, transcribes and analyzes every conversation and helps teams derive data driven insights from them. Conversational intelligence technology offers a myriad of benefits to organizations and sales teams alike.

Conversation AI helps sales teams gain an understanding of what’s going on in the sales deal, surface the right information at the right time, and ensure no action items fall through the crack post-call. Rather than relying on surface-level assessments of written or spoken information, conversation intelligence leverages the power of artificial intelligence (AI) to seamlessly deduce intent, provide meaningful insights, and sentiment from real-time data.

Some of the key points that a sales team can capture during the conversation are:

- Customer pain points

- Common topics of interest and keywords

- Objections about the product/service

- Suggestions for improvement

- Competition analysis

- Talk:listen ratio

Interchanges per minute between the sales rep and the customer

Rather than relying on surface-level assessments of written or spoken information, conversation intelligence leverages the power of artificial intelligence (AI) to seamlessly deduce intent, provide meaningful insights, and sentiment from real-time data. Most conversation intelligence platforms also match relevant metadata to the conversations, including contact names, phone numbers, associated CRM fields, call direction and duration.

Working of Conversation Intelligence Software

Conversation intelligence technology utilizes artificial intelligence (AI) to analyze the customer’s sentiment, intent, and meaning.

The technology records sales conversations, analyses it, and delivers it in palpable formats for sales teams to apply to their sales strategy. Conversation AI makes use of algorithms to analyze useful information that can slip through the cracks by sales reps.

For instance, conversation AI can identify markers in a sales conversation that showcases the client showing hesitation to purchase your product and provides reactive solutions for the sales rep to act upon.

Sales managers can analyse this information to understand the tactics of top-performing sellers and apply these winning strategies across the company

It can also take the load off of customer success reps by handling customer enquiries on its own or extracting data much more efficiently from past conversations.

Conversation technology software broadly uses these two actions to achieve this: ‍

1. Input Analysis

Conversation AI converts customer inputs (text or speech) into a computer-readable format that makes it easy to analyze and determine the customer's intention. This typically involves using complex processes like lexical semantics (study of word meanings) analysis, extraction of relationships, name recognition, sentiment recognition, and more.

2. Response Generation

Once the software analyses the conversation, the technology generates a suitable response with the help of natural language processing (NLP), so the sales rep can leverage it for their sales conversation. Over time, these responses become very accurate and useful with machine learning.

Conversation intelligence tools can be used extensively to measure the quality of sales conversations, anchor these conversations to move the deal further, or analyze it further to close deals quickly.

Ready to start using conversation AI? Let’s see how this technology might be extremely valuable for sales organizations.

Benefits of a Conversation Intelligence Platform for Sales Organizations

1. Enhance Team Coaching and Rep Development

2. Provide Real-Time Support to Move the Deal

3. Automating Recurring Sales Processes

4. Reform Useful Data into Successful Deals

As described earlier, most people bucket their notions regarding conversation AI simply as chatbots.

However, these tools are much more equipped and capable than just chatbots.

With chatbots, the human element and intelligence is removed - limiting its capabilities to just automatic responses.

Here are 5 reasons why switching to a conversation intelligence platform is useful for a B2B organization:‍

1. Enhance Team Coaching and Rep Development

Conversation Intelligence tools record, analyze and provide insights into every customer interaction. With this, sales managers can identify how their reps are performing in the calls, know what they are doing right, where they are struggling and provide targeted feedback for improvement.

The sales managers can also identify the actions of top performing sellers vs bottom-performers, and replicate the winning strategies of the top reps across.

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