Todays’ sales teams are using forecasting tools yet still struggle to understand what’s happening during critical conversations with prospects. As a sales leader, you know how difficult it is to accurately forecast without knowing what was said and who said it.
That’s where conversation intelligence (CI) comes in ─ a Sales Engagement feature that automatically captures all customer interactions and analyzes them so you can stop losing deals and start exceeding quota.
Conversation intelligence (CI) technology may be the new kid on the Sales Engagement block, but don’t underestimate its value. With the help of CI, sales managers can coach their teams more effectively, and reps can ramp up and advance in their careers faster than ever before.
Monitoring your reps’ conversations isn’t just for finding mistakes. You need the ability to listen to your best sales reps’ conversations so you can bottle up best practices and share them with the rest of your team.
Let’s dive into why you need CI in your sales tech stack for sales coaching, boosting sales performance, and keeping your entire revenue team on the same page.
What is Conversation Intelligence?
Think of conversation intelligence as sophisticated call recording. CI lets you record conversations and review them later (at the speed of your choice), putting you in control of your schedule.
CI technology transcribes and analyzes audio so you can read conversations rather than just listen to them. When combined with Sales Engagement, which tracks and analyzes all written communication (texts, emails, direct messages), you get the full picture of all interactions.
CI also shows you who each speaker was and how much time they spent talking. This gives you a digestible view of the conversation, allowing you to pause, fast forward, rewind, and make notes as you go.
For example, CI pinpoints words that might stall a deal (for instance, mentioning a competitor!) It also analyzes “speaker sentiment,” or the tones and emotions of each speaker. By combining all of these insights, you can approach your sales pipeline with more clarity.
How Do Sales Teams Use Conversation Intelligence?
Forecasting is a crucial skill for sales leaders. But to do it accurately, you need a thorough understanding of your sales reps’ activities and progress.
Forecasting requires your sales team to update their pipeline realistically and accurately to estimate how likely their deals are to close.
HELP REPS CLOSE MORE DEALS
Let’s say you’re a sales leader who wants to finish the quarter strong. You see your pipeline and notice that your rep, Kelly, is struggling to move her deals from negotiation to closed/won.
You know that a few deals can make or break the quarter, so you want to pinpoint what’s going wrong in Kelly’s process. First, you notice that she hasn’t had enough touchpoints with the account during the negotiation phase.
You decide to listen to Kelly’s recorded conversation with the CFO of the account. You use the CI feature within your Sales Engagement platform to see how many conversations she’s had with the account and the length of those conversations.
Then, you take a closer look at the calls that happened during the negotiation phase. You bookmark the mentions of your competitor and use the tool to analyze what tone they used when mentioning them.In a matter of minutes, you can gather in-depth information from your reps’ conversations to see where they’re struggling and whether or not the deal is likely to close.
With CI, you can feel confident coaching your struggling reps and helping them move deals from negotiation to closed/won.
REVIEW SALES CALLS IN BULK
Imagine you’ve completed your 1:1s with your reps and notice a pattern: they’re reporting that they’re losing deals to the competition.
Instead of taking these anecdotes at face value, you want to dig deeper. You’re wondering if your rival actually has a competitive advantage or if the issue could be something your reps are saying during calls.
Using a CI feature (like this one), you can scan all call transcripts in the negotiation stage who mention your competitor. Then, quickly navigate to the moment where your competitors are mentioned in the transcript and review their responses. You even have the option to speed things up using playback speed options.
As a proactive sales manager, you’ll want to stay on top of the situation in the coming months. You can easily set reminders to send emails (Conversation Highlights) to your inbox every time a sales call mentions the competition in the negotiation phase.
Diligence and follow-through have never been easier!
Using AI to Make Sales Coaching Easier
In sales, you know that every interaction with a customer offers insights you can use to scale and increase annual recurring revenue (ARR). But gathering all of those data points manually would be a major pain.
We know “productivity” is a buzzword in the software and technology space, but seriously—how much more successful would your salespeople be if they could focus on the sale without the burden of these administrative tasks?
CI uses AI technology to automatically capture and analyze customer pain points, objections, feedback, and competitive intel—without you having to lift a finger.
CI within your Sales Engagement platform automates note-taking, which means you no longer have to type notes in your CRM and then ensure that every member of the team stays in the loop.
Here’s how each member of your revenue team benefits from AI-driven conversation intelligence:
You can finally ditch the overwhelm and have the ability to be ‘on’ every sales call with CI. With playback capabilities at your fingertips, you can be a fly on the wall during each reps’ sales conversation and provide the necessary coaching—all on your own time.
For new reps, ramp-up can be a grueling process. Being expected to learn a new product and become an expert simultaneously is stressful. Using CI, reps will ramp up faster by listening to top performers and learning best practices.
The best part? Onboarding reps becomes less time-consuming, so you can finally focus on providing strategic, tailored coaching that will help your team close more deals.
“From a management perspective, the Deals tab has cut our pipeline review time down by 50%. In addition to that, we’re able to get much tighter around what our forecast actually looks like, which was something that was new to Beam.”
-Sales Manager at Beam.
How Does Conversation Intelligence Fit With My Existing Sales Technology?
Although CI is sometimes sold as a standalone product, it makes the most sense for you to use it within an all-in-one Sales Engagement platform.
The best Sales Engagement platforms have built-in CI features that allow managers to coach their reps at scale, regardless of how distributed the team may be—this is part of what makes a Modern Revenue Workspace
Having a Sales Engagement platform that uses CI is critical because it captures every interaction (calls, emails, social media messages) in one place. As a result, sellers work out of a single tool to prospect, manage opportunities, and engage post-sale.
With the recent massive shift to remote work, video conference meetings offer us more opportunities than ever to capture and analyze customer interactions.
In other words, the sooner you implement a Sales Engagement platform, the sooner you’ll be feeding it insight-rich data you’ll be able to use to make smarter decisions.
The Bottom Line on How Conversation Intelligence Boosts Sales Performance
CI is helping sales managers coach their teams more effectively and helping reps advance in their careers faster than ever before. A Sales Engagement platform that uses CI captures all customer interactions and analyzes them, giving you digestible insights that supercharge your revenue efforts.Using CI, sales leaders can identify the most engaged prospects, winnable deals, and buyer trends. A Sales Engagement platform with CI capabilities empowers sellers to prospect, manage opportunities, and continue to engage post-sale more efficiently than ever before.
Who wouldn’t want that for their sales teams?
Click here to learn more about how you can leverage artificial intelligence to improve sales management!