John opened his first call of the day with a polite “Hi there, this is John from SAN Software, Did I catch you at a bad time?”
Unfortunately, the call didn’t go so well - in fact, it ended in under a minute. What went wrong?
Well, statistically speaking, using “Did I catch you at a bad time” makes you 40% less likely to book a meeting, while asking “How are you?” increases your likelihood of booking a meeting by 3.4X.
We have just scratched the surface here, though. If you really break down openers and deep dive into your conversations with prospects, you'll see more such patterns. Recognizing these patterns and implementing those insights will significantly improve your win rates.
Does that mean you have to analyze at least a bazillion calls to derive accurate statistics? Where will a sales rep or a sales manager with an already double booked calendar find this time?
Let’s crunch some numbers. You have a team of 40 sales reps who make 50 calls per day, which makes it 44,000 calls every month. On top of that, sales reps have unique needs. They don’t just want to know what’s the best metric to aim for; they want to analyze their own sales performance in-depth and find areas of improvement in their individual sales skills.
Generating such personalized insights multiple times, every day, for every sales rep and every sales manager - that can only happen when pigs fly.
What if you could capture just the key metrics and actionable insights that you extract from thousands of your sales calls, that too, at lightning-fast speed?
Well, aren't you lucky because that's just what conversation intelligence does for you.
Conversation intelligence analyzes your sales calls using natural language processing (NLP) to generate intelligent call transcripts and alerts in real-time. It derives actionable insights such as key sales metrics and easy-to-miss signals that can greatly empower your sales teams.
How conversation intelligence fuels sales enablement
Conversation intelligence platform uses machine learning algorithms to derive insights from your extensive sales data existing on all business platforms - your CRM, dialer, communication channels, calendar, among other things!
It combines all the data from platform integrations and offers data-driven sales content and resources that you can rely on. It also empowers sales enablement teams in various ways:
- Provides excellent sales coaching and training resources with real-life examples
- Simplifies sales analysis to step up the sales game and close deals
- Provides authentic testimonials to clients through shared calls via conversation intelligence platform
But wait! There’s more below!
Why sales teams need conversation intelligence
Automated note-taking & transcription: you do you!
You’re on a sales call, and your prospect says something you need to make a note of so that you can use it later. Now, either you can pen that down and lose hold of what your prospect is saying for the next few seconds and risk breaking the emotional connection with them. Or, you could avoid taking notes and risk missing out on an essential data point that could help close the deal. What a dilemma!
Here’s a third and better way around both of these snake-pits. Your conversation intelligence software automates note-taking for you while you build rapport with your prospects. Moreover, AI-powered transcription simplifies sales analysis for you by allowing you to jump straight to the keywords and instances you want to explore.
Asynchronous sales coaching: in your own time
According to research by Ohio University’s Dr. Adam Rapp, a sales manager’s day is broken down in the following way:
58.3% of a sales manager’s time is spent on managing people and information.
20.8% on selling-related tasks.
20.9% on administrative tasks.
No need to sum it up; it does add up to be 100%.
There doesn’t seem to be a slot to fit in a few sales coaching sessions with the entire team, but the sales leaders do realize the need for it.
Conversation intelligence software helps you leave these time management woes behind by providing you with the right data for team performance analysis and sales coaching - as and when you need it. No need to shadow your reps on call, or listen to the long sales calls to analyze how they are doing.
With conversation intelligence, you can seamlessly unlock a granular view of your sales reps’ performance. You can identify sales call coaching and training needs by extracting AI-driven insights from their phone calls, such as:
- Talk to listen ratio
- Call duration
- Objection handling techniques
- Sales negotiation skills
- Longest monologues
Pick out the best sales call recordings of your top performers and refer them to your sales reps who require sales coaching. Moreover, by understanding where your individual sales reps are lacking, you can suggest sales training programs to improve their skills.
Objection handling: learn from the best
“We are already in business with your competitors.”
“We don’t have the budget right now.”
“Your competitor is cheaper/better.”
The list of these mini-nightmares goes on and on…
Sales objections aren’t really as bad as they sound if you use the right techniques to tackle them. With conversation intelligence, you can learn how to handle those objections by referring to the best objection handling techniques used by star performers in your B2B sales organization. Your conversation intelligence tools identify the keywords for common sales objections raised in your sales conversations and even provide you with live insights on how to deal with them. More on that in the next section.
Live assistance: “Oh, ye benevolent technology!”
Show me someone who hasn’t wished for a fairy godmother in times of crisis. Never more so than on a difficult sales call.
Don’t you worry; conversation intelligence has your back.
42% of sales reps feel they don't have enough information before making a call. Although prospect researching has its own place in building rapport, sales calls are tricky beasts and can detour to unknown places anytime.
Moreover, prospects feel that the salespeople just want to shove in their sales pitch and aren’t really interested in understanding their pain points. AI-driven push insights can give you real-time alerts when you need to pause and let your prospect have the opportunity to speak up.
The story doesn’t end here. Whenever you’re in a pickle, your AI-powered live assistant can pull you right out of the pit. For example,
- Your prospect has raised an objection, and you don’t know how to handle that.
- They have mentioned a competitor’s offerings to be better than yours, and you don’t have enough information to turn this situation in your favor
Conversation intelligence software can provide you with essential pointers in real-time to guide you with the next steps, with the aim to close the deal.
DIY onboarding: super-interactive sales playlist
According to an Accenture study, 42.5% of sales and BD reps take ten months or longer to become productive enough to start contributing to company goals, resulting in at least 15% of potential customers being lost along the way.
You don’t need to schedule orientation sessions every time you hire a new sales rep. You can leverage conversation intelligence to give your new hires a flying start with a master sales playbook containing sales calls of your star performers.
Wingman’s conversation intelligence technology eases sales processes for your new reps with live battle cards to navigate tough situations. Here’s a snapshot of how Wingman’s game tapes can help your sales reps enhance their sales game:
As your Wingman, Wingman does more than that for you
Wingman enables you and your sales reps to engage with each other on its conversation intelligence platform to maximize the data-driven value in their sales cycle. It lets you create playlists, bookmark specific instances, and tag your colleagues to share those insights with them - taking sales enablement to a whole new level.
You can unlock insight-driven sales coaching with Wingman’s sales intelligence software to capture meaningful insights and key sales metrics in these ways:
- Track metrics such as talk to listen ratio and call duration to analyze which sales reps need to be coached for rapport building skills and whose videos can you refer them to
- Review if your sales reps are following your suggestions and sales scripts by tracking specific keywords on the customer conversations so that you can follow up with them if required.
- Create a culture of learning with intelligence in your organization by encouraging your sales reps to interact on the conversation intelligence platform
Leverage Wingman to arm your sales teams with actionable insights powered by artificial intelligence to boost your ROI and facilitate customer success. Book a demo today.