Many of our clients envisioned Conversation Analytics, primarily, as a way for marketers to extract conversion data, lead score data, and sales readiness data.
It is all of that. But, it isn’t just a tool for marketers.
There are at least 20 metrics directly designed to provide sales analytics. These analytics are useful in contact centers, on inside sales floors, and even in retail environments where everyone is answering the phone.
For the purposes of this blog we’ve analyzed the 20ish metrics related to sale and chosen to focus on the 6 that might be the most useful. This data can be automated into CRM systems, auto dialers, and be used in sales training scenarios.
Research published by UNLV indicates that asking directly for the business is the second-most important thing a salesperson can do to statistically influence the sale. Asking for the business in a clear and direct way makes a sale 4.4 times more likely.
By asking for the sale we mean using phrases like, “Why don’t I just go ahead and book that room for you?’ or “Do you have time tomorrow at 2:00?”, or “Can I get your credit card number and we’ll get you set up?” In other words, it is direct invitation from the salesperson for the caller to purchase or set an appointment.
Conversation Analytics measures this. It can tell you how frequently the salesperson is asking for the business. And again, it does all this without anyone listening to any phone calls.
One of the biggest sales killers is buyer confusion. If a caller is confused about the product, the pricing, the package, or what the salesperson is saying, that caller won’t buy.
Conversation Analytics looks for words or phrases the caller may have used to indicate they are having trouble understanding the salesperson.
This might be the most powerful sales analytic of all. The (c) indicates that this is a composite indicator within Conversation Analytics. This means that Conversation Analytics combines several other indicators to come up with an aggregate measurement of the true sales skills displayed on that call.
These sales skills can be aggregated by salesperson, campaign, location, contact center, or over time.
This indicates that the salesperson took ownership for the caller’s requests with phrases like, “I can help you with that,” or “What I can do is…”
This indicator is a very good way to determine if an agent or salesperson is effectively handling concerns, upset customers, and problems.
This indicator is a robust one. Conversation Analytics can track two things with this indicator:
a) did the agent attempt to up-sell?
b) or did the agent mention a specific promotion?
These are valuable sales analytics that can tell you, frankly, how hard the salesperson is trying.
This is another composite indicator. This measures if the caller was a good lead, but yet didn’t convert. In other words, they were a missed opportunity. This may be the most important sales metric in Conversation Analytics.