Conversational intelligence for businesses
- Optimize conversions
- Improve the customer experience
- Deepen customer knowledge
Conversational intelligence has many benefits for businesses and individuals. But there are still many misconceptions about what it is and how it works. Let's learn about one of the next revolutions in Business Intelligence.
What is conversational intelligence?
Conversational intelligence is a program that uses artificial intelligence to analyze speech or text to obtain data-driven insights from the conversations between vendors and customers.
Definition of conversational intelligence
Conversational intelligence combines automatic learning and natural language processing techniques. It uses the adaptive capabilities of artificial intelligence to quickly infer intents, feelings, and meanings from data, rather than relying on superficial judgments of written and spoken information. This allows teams to evaluate large numbers of interactions more thoroughly and in a relatively short period of time.
Value of conversational intelligence for businesses
Conversational intelligence can be used in multiple ways, but what's interesting for a business is the in-depth knowledge it provides about the interactions between customers and the agent. This branch of AI can answer important questions about customer needs while reducing the agent's overall workload.
What are the possible applications of conversational intelligence in business?
There are many situations in which conversational intelligence can be helpful and beneficial.
If you don't know what your customers are interested in or what's keeping them from making a purchase, you're probably making assumptions to understand their motivations. Conversational intelligence gives you actual insight into your customers' behavior and how they respond to your marketing and sales efforts.
For example, how do customers react to your phone calls, what are the reasons for not making the sale, which scenarios work and which don't? From a customer service viewpoint, what issues are likely to make a purchase unsatisfactory (which could affect future purchases)? Are there any customer journey issues that prevent customers from making a purchase in the first place?
This type of data analysis gives you insight into the elements of the customer journey that need attention and the most common obstacles to conversion, so you can take steps to overcome them. Additionally, with speech to text directly available in the dashboard, you have the power to streamline conversations.
Perfect the customer experience
The best way to improve the customer experience is to get information directly from the customer. What are they interested in? What motivates them to buy your product? What speaks to them most in your sales pitch?
Using information gathered from customer conversations can improve the customer experience. Are your customers frustrated with the checkout process? Does your website clearly display the product? Are they looking for more information before making a purchase? Are they more likely to make a purchase after conversing with a salesperson?
You can use this information to make changes to your customer experience. And with conversational intelligence, you can see how these changes are occurring over time.
Deepen customer knowledge
Conversational intelligence can serve as a cutting-edge investigative tool, leveraging data from the most important source of information: your customers. What do they think of your product? Which aspects are worth keeping and which are worth fixing? Conversational intelligence is used for business intelligence
Conversational intelligence can help you explore the topics that stand out the most and delve into the feelings associated with the products and services your customers mentioned in their conversations. This allows managers to take action by adjusting product or service lines, or providing better information to avoid common problems.
Assist the sales team
Companies often analyze calls to evaluate the effectiveness of their sales teams. However, it is impossible at human scale to understand which techniques are effective and which salespeople are performing best. Because only a small proportion of the thousands of conversations a company has with its customers can be processed.
With conversational intelligence and call transcription, it is possible to analyze each interaction and get accurate information from all available data. Instead of analyzing the surface of all calls, which do not accurately represent the customer's point of view or the salesperson's performance.
This way, sales managers can see which issues to prioritize and which pitches work most effectively. Improve sales coaching and team performance, and better the customer experience with conversational intelligence.
Likewise, opting for SaaS is an important step for the development of the company. Indeed, using SaaS software within your company will lead to an improvement in performance.