Since the pandemic hit, a major issue that the sales businesses faced was remote working and selling. Collaborating with the entire sales team, figuring out the status of the sales pipeline, tracking daily sales reps activities, and understanding evolving customer buying behavior became a huge challenge, but with challenges came solutions.
AI-based solutions like conversational AI and conversation intelligence have been in the market for almost a decade now, but COVID-19 catalyzed AI adoption, especially for sales operations and sales strategizing.
Sales have changed and so has the sales strategy. No longer is it just about knocking on doors and calling people to try and get them to buy. You need to be able to converse with people and get them engaged, interested, and excited about your product. The first step is to use Conversation Intelligence and the other steps stem from there. Here is a blog on how you can use Conversation Intelligence to create a winning sales strategy.
But before what is Conversation Intelligence?
Conversation Intelligence Software
Conversation Intelligence Software integrates with the customer engagement platform to record, transcribe and analyze the sales conversations for sales intelligence, market intelligence, sales reps performance, customer insights, competitor intelligence, and deal intelligence. Post the call conversation intelligence even logs the daily sales data in the CRM automatically alongside sending the call reports to the sales leader’s inbox.
Now that you know what conversational intelligence software is. Let us tell you how conversation intelligence can help in sales strategizing.
Sales Strategizing with Conversation Intelligence
One of the biggest challenges in creating a good sales strategy is acquiring accurate and real-time sales intelligence. The market keeps evolving and with it, customers’ buying behavior also changes. For creating a scalable and revenue-generating sales strategy, you need to be able to forecast your future competition and sales, which is only possible by keeping up to beat the customer’s voice.
Conversation Intelligence gives you a detailed view of Sales Intelligence
Conversation Intelligence analyzes your customer engagement for their queries, pain points, feedback, or any actionable service they require right away like some document or case study. You can use this data to understand what your customers are looking for and customize your sales script to be more customer-centric.
Our Competitor’s Intelligence
Another important data point that the conversation intelligence highlights for you are competitors’ data. Any time your customers mention your customer’s name, conversation intelligence highlights it for you. Using this feature you can know your competitor’s eCommerce pricing strategies, pricing, services, offers, etc.
Conversation post integrating with your customer engagement platform records, transcribes, and analyzes the entire conversation for important deal insights like talk points, query resolution, actionable items and sends the data to your inbox. You can even spot any deal crisis and guide your sales reps for follow-up calls.
One of the best sources for real-time market intelligence is your sales and customer support call. By recording and analyzing your sales and other customer interactions you can get real-time insights on changing customer buying behavior, competitors, new technology, etc.
This is about insights gathering but a good sales strategy solution also covers tracking and regular review of the sales process and activities for future scalability and early crisis detection; conversation intelligence certainly does that for you.
Sales Strategy Review and tracking
Sales Activities tracking
Every sales business faces the challenge of tracking their sales reps’ daily activities.
How many calls do they make?
Was the follow-up call made?
What are they discussing in calls?
Conversation intelligence helps you answer these questions. Conversation Intelligence automatically joins the sales rep’s calls and then records, transcribes, and analyzes the conversation for what talk points were discussed and your seller’s response and shares it with the entire sales team. Conversation Intelligence basically makes the entire sales process and sales pipelines transparent for the entire business.
Sales Performance Tracking
Conversation intelligence even tracks the seller’s performance on every call. Conversation intelligence analyzes the call for talk ratio, interruption, responses, and soft skills of sales reps and scores the sales rep’s performance.
Automated CRM Logging
Post you are done with the call, conversation intelligence automatically logs the call activities along with call insights and recording in the CRM, without any human assistance.
CRM logging is one activity, which sales reps usually forget or miss out on by not adding complete call notes. We humans can forget but conversation intelligence’s NLP sentiment analysis engine ensures that you don’t miss out on any crucial deal data and logs it automatically on the CRM, for easy tracking. This allows sentiment analysis of text and finding emotions and tones in text
Another crucial part of sales strategy is hiring new sales reps and training them. And even scaling training for non-performing sales reps should also be considered for a good sales strategy. We already saw how we can track sales activities and sales reps’ performance with conversation intelligence, let us see now how you can use conversation intelligence for even providing scalable training and even decrease ramp-up time up.
Sales Training with Conversation Intelligence
Personalized Sales Coaching
Conversation intelligence helps you uncover what your top performers are doing differently and use this data to help train the non-performing sales reps. Or alternatively, you can find out why your sales reps are not performing and provide personalized training to improve their performance.
Create Call playbooks
With Conversation Intelligence you can even create call playbooks of your best calls, difficult calls, product calls, onboarding calls and share them with your new sales hires, to fast track the sales training and onboarding process. One of the Austin, Texas-based SaaS startups was able to decrease their ramp-up time by half by using conversation intelligence for their sales team.
Conversation Intelligence can help you create, analyze and track your sales strategy by making your entire sales process transparent. You can even forecast future sales deals as all your business pipeline is made transparent on CRM with conversation intelligence.
Some of the conversation intelligence vendors you can consider are Gong, Chorus, Convin, Wingman, Salesloft, etc.
Andrej Fedek is a digital marketer. He recently started his own blog about digital marketing called InterCool Studio. His passion is to help startups grow and thrive in a competitive environment.