One of the best and most effective ways to know about your prospects’ pain points is by conversing directly with them. It allows the company to know about the objections the target audience has, how your offered product or service can be improved to help them, the list of companies they view as your competitor and whatnot. All this data gathered and organized together can act as a value vault that can later be used to deduce logical conclusions and improve the overall sales processes. But, things are not fairly as simple as they sound.
While a good conversation can solve most problems, challenges arise when the data gathered from such conversations are lost. Often the data collected from such conversations fail to make its way to the CRM or the ears of the right person due to various reasons. This is where conversation intelligence software comes into the picture. This tool is developed to solve problems by recording and analyzing conversations between the sales representative and the prospect.
You can rely on any of the conversation intelligence tools mentioned later in this article for visible results. It ensures the company gets access to all the relevant knowledge to help it close more deals by overcoming objections and improving the product. As the market has hundreds of such tools doing the rounds, we’ve curated a list of the top five conversation intelligence software to save your time and efforts. So, let’s get started,
But Firstly, What Exactly is Conversation Intelligence?
Conversation intelligence is simply the process of finding the needful business insights from the conversations your teams are presently having with the customers or prospects. And, the conversation intelligence software is the advanced tool that records, transcribes, and analyzes those sales calls. By analyzing each sales call, the software can quickly identify topics of conversations or keywords so the company can directly jump to the relevant part and further analyze valuable insights.
If your sales team hasn’t been performing well recently, this tool can help you take notes on the key conversations with your potential buyers, allowing you to identify the risks and opportunities. The data gathered from this tool can also be used as training material to train new sales representatives. This software is very different from your regular cloud meeting solutions and calls recording software. It not only records the conversations for you, but it also analyzes the conversation, takes notes on key topics with the help of AI and machine learning, and also allows you to quickly access important moments from the conversation with the click of a button.
Why is Conversation Intelligence Essential?
Now that you’ve understood what conversation intelligence software is, it’s essential to learn why using it is essential for your business. While incorporating it into your business processes has many benefits, the top benefits are shared below:
- Helps Closing Deals Sitting in the Pipeline
While a conversation intelligence tool helps prepare the training material for a newly recruited sales representative, it’s not the only thing it does. It gathers the insights from both calls and emails, bringing to light the deals sitting in the sales pipeline. It also helps people understand which deals are inching towards closing and which are not, enabling you to course-correct your course of action. Moreover, with conversation intelligence software, you can ensure the entire team gets access to the information instead of it being siloed to one person or department.
- Go Beyond Keyword Analysis
If you always wanted to get a feedback loop of what your prospects are saying without losing any important information, a conversation intelligence tool can help. A good conversation intelligence tool goes beyond keyword analysis. It allows you and your team to understand what a winning sales conversation looks like. You can use this feature to create a repeatable and straightforward roadmap for your team to win more deals. Consider this tool as a litmus test for your target market.
- Makes Your Sales Representatives Work Smarter
Sales managers always have a lot on their plates to complete- sifting through sales calls, tracking script compliance, identifying coaching opportunities, etc. Using a conversation intelligence tool makes all these responsibilities easier. As the tool is made using advanced AI and machine learning, it analyzes calls with utmost accuracy. You can use this tool to stay updated on behaviors that matter to your business in real-time.
There are various similar advanced features that can be leveraged to help you work smarter and not harder. For example, if you want to get notified every time your competitors are mentioned in a sales call, you can get it done using the conversation intelligence software. These tools are great for letting you see at a glance which sales deals are currently being worked on, the current status of these deals, red flags in the conversations (if any), and a lot more.
5 Best Conversation Intelligence Software to Look For
As conversation intelligence directly impacts the bottom line by identifying calls with opportunities, you cannot take it lightly. To help you get your hands on the best conversation intelligence tools, we have tried many software so you don’t have to. You can take a pick from the best-performing software listed below that we have curated after trying these for days. Irrespective of the software you choose to proceed with from the below list, you won’t be left disappointed. So let’s quickly check which conversation intelligence software made it to the list.
One of the highest-rated conversation intelligence software, Wingman is an actionable and advanced conversation intelligence tool that unlocks insights from every sales interaction. You can use it to quickly record your calls, scale coaching, build a repeatable sales machine, review deals, and a lot more. What makes this tool special is its ability to alert managers to deal with risk proactively. So, whenever your sales representatives are on a sales call, Wingman is with them.
This tool assists sales representatives even when they’re on a call with a prospect. It can help change sales behavior through monologue alerts. At present, this tool is being used by the sales team of Propeller, MarketMan, Airmeet, Clutch, Vendasta, Chargebee, Adpushup, Partsbase, go/links, Properly Homes, and other renowned companies. They have reported significant improvements and higher closer rates since they started using Wingman, so it’s definitely worth trying.
Moreover, with Wingman by your side, you can always read through your sales calls, identifying what went well and what could have been improved. It dramatically helps improve and streamline the entire sales process. Breezing through call reviews and easy sharing with view intelligence are just some features that make investing in Wingman worth every penny.
Gong is an advanced tool that helps companies analyze customer-facing interactions across emails, phone, and web conferencing. It then delivers the insights your team needs to close more deals in less time. According to the team working at Gong, it has helped companies close more deals by 27% per sales representative and saved approximately 20% of the additional time they would have otherwise spent on following up and conversing with clients. It even reduced the onboarding time by 53%, which is massive.
This is one app that helps companies reach their full potential. It is why various renowned companies like LinkedIn, Slack, Monday.com, SproutSocial, Shopify, Twilio, Morningstar Inc., Paychex, and others use Gong for analyzing the conversations with their prospects and customers. At present, Gong is the #1 conversation intelligence software, as rated by people on G2 Crowd, Capterra, and Trustradius. If you want to invest in a reliable conversation intelligence tool that has delivered phenomenal results for its customers, you have to try Gong at least once.
Founded in 2015, Chorus.ai is one of the most advanced and effective conversation intelligence platforms available today. Designed to create high-growth sales teams, this tool does an excellent job at identifying and helping teams replicate the performance of best-performing sales representatives by analyzing their sales calls. The data gathered from this tool serves as the foundation of a winning coaching strategy for the customer sales team and sales strategy, enabling your teams to close more deals.
Chorus.ai also boasts of understanding and enhancing human communication and is worth your attention and time. With Chorus.ai by your side, you can easily take advantage of call recording, onboarding and training new sales representatives, measuring team performance, and much more. You can also integrate Chorus.ai with tools like Zoom, Salesforce, and more for ease of use. These integrations are aimed to make your entire sales process a lot smoother than before. Whether you’re a sales leader looking to train new sales representatives or revenue generators responsible for closing more deals, Chorus.ai can help you achieve all your goals in a more streamlined manner.
Want a smart conversation intelligence software that optimizes your sales representatives’ performance and automates repeatable workflows for maximum revenue and retention? If yes, you have to check out Observe.ai. This advanced tool acts as a force multiplier for your contact center and boosts operational efficiency by 87%. Companies that have used Observe.ai to analyze their sales calls have reported a massive growth of 74% in revenue in record time. What makes this conversation intelligence software stand out is its underlying framework. It aims to understand, empower, and improve the entire process.
If you always wanted to coach with confidence and in a fraction of time, Observe.ai is a tool you can rely on. It all starts with gaining 100% visibility into the customer conversations. The tool uses its advanced AI features to convert the conversation into business-boosting intelligence. It also boosts employee productivity through context-based coaching. You can use it to create a feedback loop that continuously drives improvement across every customer touchpoint.
Provider of a leading sales engagement platform, Salesloft is a company that helps people execute all their digital selling tasks like communicating with buyers, generating the insights needed to close more deals, and more using a single dashboard. It also assists in helping people understand what to do next following a conversation. It is because of these powerful features that Salesloft is being used by various top brands worldwide. Cisco, IBM, Shopify, and Square are just a few brands that use Salesloft to understand their customer conversations better and leverage the generated insights to close more deals faster.
With Salesloft by your side, you won’t ever have to worry about missed quotes, fuzzy forecasts, or time wasted on dead-end opportunities. Salesloft acts as one comprehensive platform that your entire team will ever need to generate more revenue faster. Companies that use Salesloft have reported a 2.5x increase in response rates and an increase in deal closure. If you want to optimize your conversations to drive 3x engagement, you have to try Salesloft.
Settle with the Best Conversation Intelligence Tool for the Highest ROI
Identifying and analyzing customer conversations are tedious tasks, and even the slightest of errors mean missing out on crucial information. This is where conversation intelligence software comes into place. But not every tool deserves your time and attention. Hence to save you from wasting days and even months in the process of trying out various tools, we’ve done the heavy lifting for you.
After testing various conversation intelligence tools available in the market, we’ve shared above a list of all the top software that have generated massive results for their clients. If you want to focus and allocate your resources on tools that are result-driven, you can pick any one tool from the above list. You will certainly not regret this decision, so go ahead and take your pick for maximum revenue growth.