Power Your Sales Team with Conversation Intelligence

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What is Conversation Intelligence?

Conversation Intelligence is the use of technology to boost you and your teams customer interactions. This is done by using artificial intelligence to guide your sales teams with, customer service, marketing and more.

Using artificial intelligence, customer interactions are captured, transcribed, and analyzed through their entire journey. This includes phone conversations, live chat messages, emails, video meetings and other forms of communication.

Convirza Conversation Intelligence

The goal of the Conversation Intelligence platform is to help businesses gain insights into their customers’ needs and preferences, as well as improve their own customer service processes and sales strategies.

Their are two parts of Conversation intelligence software:

One side is entirely designed around the customer. Their intent, sentiment analysis of sales calls and conversations, natural language processing and more. These data driven insights help your sales team, customer service team, managers and more to know everything they need to know about your customer. Did a member of your sales team lose a deal because they didn’t ask for the business? With conversation intelligence software, you will know the moment it happens (and get a notification to save the deal).

Next is the analysis of the agents performance. Did they say the right things? Were they courteous to the potential customer, did they ask the right questions? Conversation intelligence tracking software provides the insights to every aspect of a representatives performance.

Why is Conversation Intelligence Important?

The importance of Conversation Intelligence in today’s market cannot be overstated. If you’re not using it, your competitors are and they are getting ahead.

Better insights = better customer experience:

With the increasing importance of customer experience in driving business success, Conversation Intelligence provides a powerful tool for businesses to gain deeper insights into their customers. By analyzing their customer conversations and interactions, businesses can better understand their customers’ needs and pain points, and identify opportunities to improve the customer experience.

Call Center Team

We are seeing artificial intelligence move into every industry, niche and space. If you are not using AI to boost your team’s performance, others will.

More effective internal processes:

Conversation Intelligence empowers your business to improve your own internal processes. Are you reaching out to leads in a timely manner? What are your best reps doing to close deals? Can you help your sales reps with the proper sales coaching, and training?

Conversation intelligence data is rich with customer insights, about your customer objections, your company and your prospects. This information helps optimize your sales scripts and messaging, marketing, and the entire customer journey.

How Managers Can Use Conversation Intelligence

Managers can use Conversation Intelligence in a variety of ways to improve their business processes and customer experience. Here’s how:

  1. Improve call monitoring and quality assurance:
 

Managers can u monitor and analyze customer interactions in real-time, providing immediate feedback to agents. This includes identifying areas where additional training or coaching may be needed. Good conversation analytics tools make it easy to analyze call data, score calls identify patterns in customer behavior and improve overall call quality.

Training Reps for Success
  1. Enhance training and coaching for agents:

Imagine if you could listen to every call your team makes. You would recognize every opportunity for improvement. Show them relevant information to help them where they are weak. As great as this would be, no manager has enough time in the day to listen to every minute of every call. Except- now you can. Using conversation intelligence software, you can train AI to see opportunities just like you. You, via technology, monitor and listen to each and every call made, whether you have a team of just 1 or thousands.

  1. Optimize sales scripts and messaging:

In line with listening to every call made by sales reps, customer service reps, and more, you can set your team up for success by optimizing sales scripts and messaging. Do you want to see which phrases top reps are using to close deals, that low-performers aren’t? Customer calls are now recorded, so everyone on your team can access a library of the best moments from the top performers. Suddenly having high closing rates is not magic, it’s data, and every rep can replicate it.

  1. Track customer satisfaction and loyalty:

Sometimes, customers call in frustrated. They can’t solve a problem related to your product, or they are unhappy with service. These are valuable calls that should be used to improve. Especially in large teams, it’s easy to miss this key training opportunities. With conversation intelligence tools, analyzing customer interactions where customers are expressing frustration is easy. Customer success managers can take steps to address these concerns and improve every clients experience.

Conversation Analytics for Call Centers

One of the biggest challenges facing call centers is ensuring consistent and high-quality service across all interactions. With hundreds or even thousands of agents taking calls every day, it can be difficult for managers to monitor and assess the quality of each call.

Not a single call is missed with conversation intelligence platforms:

Through analyzing customer interactions, call center managers can gain a better understanding of the common challenges and pain points that customers are experiencing. This includes identifying areas where agents may be struggling to provide effective support.

Convirza AI

For example, let’s say that a call center is receiving a high volume of calls related to a specific product issue. Managers gain deeper visibility into into common questions or concerns. This information can then be used by account managers to provide targeted training and coaching to agents, helping them to better address the issue and provide more effective support to customers.

Data on the what people DO say, and DON’T say:

In addition, factors such as tone of voice, use of language, and customer feedback are measured automatically.

For a contact center with call recording, this means quality assurance every time. Contact centers with call volumes are better able to ensure a consistent level of customer service across all interactions.

By gaining deeper insights into customer needs and pain points, call centers and contact centers provide more effective support, optimize training/coaching programs and ultimately improve the customer experience.

How Conversation Intelligence Works

We know having a conversation intelligence tool can get you insights and data, but how? Let’s take a look at how it can analyze phone calls, sales forecasts and more.

Analyzing Every Interaction:

Conversation Intelligence is AI-Powered Call Scoring. This involves using machine learning algorithms to analyze and score each customer interaction based on specific metrics, such as tone of voice, use of language, and customer sentiment.

Improve Agent Performance
Agent Scorecards:

This involves a score for the agent across important key-indicators. Did they follow company policy? Were they polite, did they get the customers name, and other important steps?

Here is an example of what a scorecard looks like. An agent gets this feedback, can review

Scorecard Data Example

A scorecard doesn’t mean much without actionable steps. In addition to ranking based on the companies defined criteria, you need clear actionable steps to help them improve.

For example, if they didn’t ask for the sale, both the agent and manager are automatically notified. The agent also receives links to a company library with call recordings all recordings where the agent DID ask for the sale, so they can improve for the next call.

Customer Profile/Lead Scoring:

In addition to a scorecard, you want to know more about who is calling. Gaining information about incoming leads allows you to market and qualify the best customers.

Customer personas include:
  • Where they are calling from.
  • Why they are calling.
  • What they are looking for.
  • History with the phone number, account or customer.
  • If they have purchased before.
  • Where the lead/call originated from (for marketing purposes).This provides the agent with information that can be used to help close the sale, or help the customer.

Data that helps your sales, customer service and marketing team is vital. Simply put, you make more revenue when your prospective buyers are more qualified.

Benefiting your marketing teams:

When your marketing team produces high-quality leads and your agent performance goes up.

Marketing teams love have granular data on who they are trying to reach. Meaningful insights such as buyer intent, key purchasing signals and more conversation data is extracted via conversation intelligence, so you and your teams get all the data.

Improving AI Performance:

As the AI algorithms used in Conversation Intelligence is not static. As more customer interactions take place, the accuracy and performance of improves.

This is because the algorithms are trained on a larger and more diverse dataset, which helps them to recognize patterns and trends in customer behavior more effectively.

Sales and Customer Service Insights

Agents and managers tell the model based on real-time experiences, which provides more accurate and reliable insights. This enables conversation intelligence to deliver better outcomes and precise data.

Conversation Intelligence technology analyzes every interaction, every time.
Here is a list of factors analyzed:
  • Call length
  • Frequency of calls
  • Buying intent
  • Reason for calling
  • Common pain points/complaints
  • Which representatives have the highest resolution and why
  • Which sales conversations lead to closes (and how much)As a manager, conversation intelligence platforms paint a clearer picture of the challenges and pain points that customers are experiencing, so you can take steps to address these concerns.
 
Promoting Peer Learning:

An essential feature of Conversation Intelligence is the ability to promote peer learning among agents.

By providing agents with access to call recordings and call scoring data, agents can learn from each other and identify best practices for providing effective customer support.

Conversation Intelligence can be used to onboard and train agents. This can help to create a culture of continuous learning and improvement within the organization. You can create a library of best practices, highlights from the best moments, and examples of what TO do (and what NOT to do).

Sales Managers Insights:

For sales managers, it’s important to know how your team is doing. Not only their performance but also how you can teach them. Are there certain reps that need additional training? Are there one or two standouts, and why are they the standouts?

Conversation Intelligence lets you know every detail of the sales process. Listening to every call on a sales team is not possible. Neither is doing so for a customer service team. This is where artificial intelligence tools step in.

Since you cannot analyze every call, a trained AI model does it for you. It reviews successful sales calls, poor sales calls, and everything in between. You then receive the outputs of that data.

Convirza Data Insights

Managers can identify the messaging and techniques that were most effective in converting leads into customers. This information can then be used to optimize sales scripts and messaging, and to provide targeted training and coaching to sales agents.

Wouldn’t it be nice if every call you make, you could have a master salesperson such as Grant Cardone listening to your call? Machine learning and natural language is used in conversation intelligence software. The more calls are listened to, the more accurate your data becomes.

Why Conversation Intelligence Matters To You
Real-Time Insights:

One of the powerful features of Conversation Intelligence is the ability to provide real-time insights for your agents during customer interactions.

As calls and prospect meetings are happening, the conversation is transcribed and reviewed in real-time. Did your agent forget to ask for key contact information? Are they not using phrases that build rapport?

Both the sales manager and representative will know right away. This includes qualitative data such as sentiment analysis of both the prospect and agent.

Opportunity Alerts:

Nothing is worse than losing a deal. That’s why sales managers get opportunity alerts when a deal is at risk. These alerts can be triggered by specific keywords, phrases, or events which indicate potential upsell or cross-sell opportunities.

For example, if a customer mentions they are interested in a particular product or service and the rep doesn’t catch it, Conversation Intelligence can send an alert to the agent and/or manager. This prompts you to take action and capitalize on the opportunity. Agents are empowered to be proactive in identifying and acting on sales calls.

Data on Close Rates:

Know who is closing, how much, and why. Conversation Intelligence provides data on close rates and what was being said. By analyzing call scoring data and other metrics, managers know the success rates of different approaches, techniques and messaging.

This data is used to optimize sales and marketing messaging. Your teams say the right things, at the right times, and have the data to back up what they do.

Know what reps are doing that works, and what doesn’t work.

Data shows exactly what works. Which case studies, when shared with potential clients, lead to closes? Which phrases are your reps saying that builds rapport or closes a deal?

Share champion calls with your team. Analyze which calls agents dealt with objections they couldn’t overcome, and what they should say instead. AI helps to create a roadmap for new reps to ramp up quickly. To get started using machine learning to boost your close rates and customer satisfaction, you can get started with Convirza’s conversation intelligence platform today.

Industry Trends and Improvements

Natural Language Processing and Machine Learning: The Tech Behind Conversation Intelligence

One major industry trend we’re seeing is the increasing importance of real-time insights and feedback. Sales teams and customer service teams need to be able to respond quickly to changing customer needs and preferences, and real-time conversation intelligence tools enable them to do just that.

Conversation intelligence is more simple to understand, yet more complex on the back end. As artificial intelligence is more capable and robust now than ever before, richer personalized data sets are provided. What does this mean for you? More specific action items for your sales team. Better support tools for customer service.

Question and Answer
  1. What is Conversation Intelligence?

Conversation intelligence refers to the process of analyzing and extracting insights from conversations between customers and agents.

  1. How does Conversation intelligence work?

Using a combination of natural language processing and machine learning technologies, conversation intelligence software analyzes the content and sentiment of conversations. This includes customers’ needs, preferences, and pain points, as well as identifying areas where agents may need additional training or support. The best conversation intelligence platforms can offer more specific training and support to sales managers and agents.

  1. What are the best Conversational AI tools?
 

There are various conversational AI tools on the market:

  1. Convirza: Convirza uses Conversation Analytics® to offer a wide range of features. These include AI-powered call scoring, real-time insights, opportunity alerts, and a library of champion calls for agent training. At Convirza we use advanced AI and machine learning to analyze customer interactions in real-time. We provide managers and agents with that data to drive better business outcomes for call centers, sales teams and customer services teams.
  2. XCALLY: XCALLY offers features such as call recording, call analytics, and sentiment analysis on your calls.
  3. Chorus.ai: Chorus.ai is a Conversational AI tool that specializes in analyzing sales calls to provide insights and coaching to sales teams. It offers features such as call recording, call transcription, and AI analysis of customer interactions. Chorus.ai uses algorithms to analyze call data and provide managers with insights.
  4. Gong: Gong is a popular Conversational AI tool that focuses on analyzing sales calls and meetings to provide insights and coaching to sales teams. It offers features such as call recording, call transcription, and AI-driven analysis of customer interactions.
  5. Observe: Observe is a specializes in analyzing customer interactions across different channels, including phone calls, emails, and chat messages.
  6. VoiceBase: VoiceBase focuses on speech analytics and voice recognition technology. they offer call recording, call transcription and voice analytics.

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Tanner, Royal, Caden, Jonah, & Syd 4.5.24

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