COVID-19 changed our life for the better or for good that is still debatable. But one thing’s for certain: the shift towards the online forums for everything right from studying, buying, selling to even talking to others is here to stay.
And if the buying and selling process evolves so does its stack. The use of AI in sales and marketing was already gaining momentum before the pandemic and Covid-19 gave the push the industry was looking for. A recent study conducted by IBM found that nearly 43% of the IT professionals surveyed around the world have accelerated the rollout of AI as a result of the Coronavirus. Isn’t the saying that demand generates supply true?
AI-based products such as Conversation Intelligence have continued to gain popularity for sales. From being a nice to a must-have journey in two years is because lockdown pushed sellers to sell online. And without having any contact with customers, the only way to truly understand customers is through conversation intelligence.
By now you must be wondering what exactly is conversation intelligence?
Conversation intelligence refers to a person’s ability to comprehend and engage in a conversation. But, in business it refers to a solution that enables artificial intelligence to record, transcribe, and analyze daily sales conversations by integrating with the sales stack.
Conversation intelligence automatically connects to your sales meetings and records the conversations. Not in a creepy way. It of course asks for your permission first.
Post recording it transcribes the conversation with the help of its speech-to-text ability. And then it analyses the conversation for actionable insights like important meeting moments, seller’s response, opportunities grabbed or missed, customer queries and any actionable work to be done.
If you are still wondering if it is a must-have sales stack for your business. Let me list down the reason for you.
Conversation Intelligence to Fuel Sales
No More Taking Notes
In every company, SDRs and the customer success team are responsible for taking notes in a meeting for updating CRM. Most don’t follow this exercise and those that do, face the challenge of noting down everything.
Conversation Intelligence automatically joins the meeting and records the entire conversation. And then it transcribes and analyzes the entire conversation.
Automatic Task Creation in CRM
In general, SDRs are responsible for creating tasks in the CRM. Conversation on integration with your CRM automatically creates tasks in the CRM. Humans might miss and forget something but AI-powered bots won’t. With the help of conversation intelligence, sellers can thus focus on what matters, which is winning deals.
Firstly, identifying training needs is a difficult task in sales. It would mean going through every call of the seller to identify and pinpoint areas of improvement. You can do this with Conversation Intelligence. It pinpoints soft skills and missed opportunities that need attention. So that you can provide training that creates values.
And that’s not it, with conversation intelligence you can create playbooks of different calls to train new hires and underperforming sellers. They can learn what works from the calls of top performers.
Remember we spoke about gathering customer insights from your own sales calls?
By gathering these insights your marketing and sales enablement team can provide content and resources that resonate with the customers.
Automated Reporting And Receiving Feedback
Another area where sellers’ time gets wasted is reporting. Conversation intelligence makes reporting and receiving feedback easy for you sales folks. It automatically records and sends the call analysis to the sales manager’s inbox. Sales managers can easily view an hour-long call in a matter of minutes and provide their feedback.
The opportunity with conversation intelligence is not just limited to sales, but it can help align all your revenue-generating activities. With Conversation intelligence, you can supercharge your sales team by providing a tool that not just takes notes for them but also helps them improve their skill sets from their calls.