I was on the phone recently with the CEO of a large agency. After he saw a short video about Conversation Analytics and digested the data on the Conversation Analytics Q1 Call Report, he had a question:
Where does Conversation Analytics fit?
Is it an extension of call tracking? Or, is it a business intelligence solution that simply uses call tracking as one of many ways to deliver call recordings?
Here’s a case for both:
It doesn’t get more Business Intelligency than analyzing both sides of customer phone calls and extracting data like conversion rate, lead score, customer sentiment, sales skills, and customer service skills. These aren’t just metrics for marketers. These are metrics that impact every facet of the business:
– Marketing: Data like Lead Score and Sales Readiness impact marketing spend. They are firmly marketing metrics.
– Sales: Metrics like Conversion Rate and Purchase Made are direct indicators of sales performance. This data provides visibiliity into sales strategy and processes.
– Training: Conversation Analytics provides visibility into specific things that happen on the phone. Did the sales rep ask for the business? Did they ask for the caller’s name? etc. These are things that can help form and optimize a training plan and budget.
– Customer Intelligence: Conversation Analytics pulls out data about customers/prospects on every call. Are they confused by your offerings? Are they talking about competitors? How price sensitive are they? Are they agitated? Are they angry?
– Revenue Data: Conversion data from Conversation Analytics can be used with revenue forecasting models, CRM pipelines, and executive-level dashboards like Domo.
This is raw business intelligence delivered in a nice little package. If these metrics don’t define ‘Business Intelligence’ I’m not sure what does.
Sure, we offer call tracking, but it’s just one of about four methods we use to get phone calls flowing through our system. Call tracking is a means to an end. It is simply a method we use to get data through Conversation Analytics.
We are not a call tracking provider, we are a Business Intelligence provider.
Conversation Analytics is Call Tracking Solution
We still provide call tracking. Conversation Analytics is merely an advanced call tracking feature. But, to get the maximum value from Conversation Analytics, call tracking is still an important tool to use.
You can probably guess, based on the length of my arguments, that I believe Conversation Analytics is firmly a Business Intelligence tool. Do we also offer call tracking? Of course. Do most of our clients use call tracking too? Probably at this point.
But, ultimately Conversation Analytics is a Business Intelligence tool.
The value of Conversation Analytics can be derived with or without also using call tracking. Conversation Analytics on a standalone level is clearly a Business Intelligence tool. You can use our API and Webhooks to integrate with BI dashboards and your CRM.
This is a new frontier in the BI world. Phone calls, meet Business Intelligence.