If you’re not aware of what conversation intelligence is, you’re probably living under the surface of a stone. Covid has changed many things for the post-pandemic world. It led to technological advancements in digital technology and one of the biggest technological advancements was AI particularly in the area of con conversation.
For those who aren’t aware that: Conversation Intelligence software works with your CRM platform to record, record, and analyze sales calls and provides businesses with vital deal details as well as automation of CRM data entry speedier sales reps review and sales coaching.
90 percent of Indian startups fail within the first five years after the time of
founders face a myriad of difficulties when they’re in the early stages of a new startup. One of the most difficult problems is understanding the customer particularly in the funding stage for seed ones where they’re still trying to figure out the need of the market as well as their product’s USP and key marketing messages.
Conversation Intelligence can help you discover all the information you need to not only stay in business in the early stages of your business but also to help you become an innovator in your field.
Let us show you the benefits of conversation intelligence and what it does to assist your business.
What exactly is conversation intelligence?
Conversation Intelligence is an AI-based service that connects to a company’s customer-engagement platforms. It captures, transcribes, and analyzes the call to determine information on sales representatives” performance market intelligence, deal intelligence.
Conversation intelligence allows businesses to analyze and monitor the performance of sales reps on a large scale in a matter of minutes, and offer feedback and suggestions to win any deal while the offer is still being discussed. Additionally, it allows companies to create playlists for calls to speed up the sales training process for new hires and ramp up processes.
You must be wondering, “All this is fine. What can conversation intelligence do to help your business?”
Here’s the answer:
Six reasons why your business requires conversation
Here are a few good reasons to think about taking on Conversation Intelligence:
Conversation Intelligence is a simple way to integrate your calendar and meetings to keep track of your sales calls throughout the day In addition, it integrates with your customer interaction platforms and captures your conversations. Once you’ve posted it, it will analyze your conversation for the topics that were discussed and talk ratios soft skills, actionable elements, suggestions, questions, and even competitors, highlighting it in a quick glance.
One of the biggest issues that any business faces, not just startups, is not knowing their deal’s failure or success. Conversation Intelligence offers a comprehensive overview of the transaction from beginning to the final point, the obstacles encountered in the transaction and sales reps’ activities opportunities, and much more.
This information can be used to help you improve the quality of your follow-up calls, or even assist sales reps in implementing a plan of action when the sale is still in the works.
One of the most valuable and current market and customer insights you can gather is from your customer interaction. Everyday customer interaction whether it’s from the sales or customer service team or even your customer support team is a source of vital market and revenue information. Conversation Intelligence allows you the ability to answer questions such as:
- Pricing and features of competitors’ products
- Customer demands
- Customer-specific pain points
- Market trends, etc
The information will help startups determine the pricing of their marketing, services, and sales strategies.
Sales Data Management
Another issue the startup has to deal with is the problem of siloed data they gather during their growth and sharing their knowledge with their new employees and the team.
A SaaS-based revenue-generating startup was at first keeping all of their recordings of sales calls in Google Drive. To train sales reps they had a habit of sharing recordings of sales calls with sales reps in order to assist them in understanding the products and their customers. However, everywhen they recruited a new sales rep was a challenge, they had to search through an endless amount of video clips, which could consume a lot of time.
They modified Convin’s conversation intelligence to analyze the reps’ day-to-day tasks. After implementing it they discovered that they could create call playlists, which makes it easier to control the record and then share. But it’s not that simple!
Conversation Intelligence was even able to track daily sales activity as well as notes from calls on the CRM in order to make management of sales data simple for them.
Reduce time for ramp-up
As we’ve already seen using conversation intelligence, you can make call playlists. You can make use of these call playlists to train new employees. There is no better method to gain knowledge about sales techniques, scripting, as well as customer behavior than from sales calls?
The revenue startup mentioned earlier reduced the time for new hires to get up and running by a quarter thanks to the use of conversational intelligence.
The pandemic caused another issue remote sales.
In this post-pandemic era, many businesses are shifting to the hybrid model and this is especially true for SaaS companies. The problem is that you don’t know what your colleagues are doing, or what they’re doing to make demands.
On the ground they could view themselves in real-time, however, from their homes it’s not possible.
Conversation Intelligence can automatically record analysis and record the daily sales call activity together with notes and records on CRM, making sure that there is no missing data. Conversation intelligence helps to make the sales process and sales pipeline visible to everyone in the company to see and provide feedback and support when needed.
Top Conversation Intelligence is a must for startups.
Let me give you some of the conversation-intelligence solutions you might want to think about:
- Gong – Gong was launched in 2015 . It was founded in Palo, California. Since then, more than thousands of innovative businesses such as Paychex, PayPal, Hubspot, LinkedIn, MuleSoft, Shopify, Slack, SproutSocial, Twilio, and Zillow use Gong to discover information about customer behavior and revenue. Gong can help enterprises discover revenue insights through recording and transcribing and studying sales conversations.
- Convin – Convin was established in the year the year 2020, and is located in Bangalore, India. In contrast to Gong, Convin focuses more on mid-level and startups players to develop their products. Convin is compatible with a variety of CRMs such as Pipedrive as well as Freshworks. Convin offers a no-cost self-sign-up feature on their site to help you self-serve. in 15 days you are able to select one plan of subscription.
- Wingman – Wingmanwas established in 2018. Wingman automatically participates in sales calls and analyzes the conversation. Based on the conversation it provides the sales reps with cue cards to assist them in dealing with objections from customers, questions and suggestions for behavior. It is able to be integrated with Dialer CRMs, CRMs, or video Conferencing platforms.
- Chorus.io – Chorus integrates with Zoominfo to assist Zoom clients capture, record, and analyse their sales conversations. Chorus profile has more than 20000 companies, including Zoom, Mavenlink, Qualtrics, Adobe, TripActions, and GitLab. Now , with Zoom integration, businesses can utilize Zoom as their principal source of conversation intelligence.
- Salesloft – Salesloft has been established in 2011, in Atlanta, GA. Salesloft’s Modern Revenue Workspace(tm) Salesloft is the solution for sellers to complete all of their online selling tasks, connect with customers, know what they need to do, and receive the guidance and knowledge they require to succeed. The profile of Salesloft includes IBM, Shopify, Square and Cisco.
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