In every sales process, there’s a stage where the sales team needs to talk with the customers and prospects, whether in the form of cold calling or warm pitching. This is a crucial stage that helps qualify the lead, and if it’s a good lead, then you can also close the deal.
With so many tools and technology out there, it’s tough to get the most out of just talking with customers alone in the sales process. What you need is a solid process and a great tool to help you in the journey. In this case, using conversation intelligence can prove quite helpful.
But first, let’s take a look at how you can measure performance during the sales process.
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The performance model for your sales process
There are some critical factors in measuring the sales KPI and performance:
- Customer acquisition cost
- Lead response time
- Total time spent in selling, etc.,
Along with the above factors, there are other things that you should keep in mind while measuring the sales performance, which often the sales team leaves out. These are:
- What is the total time taken to train new sales members?
- Why does the team not give the same results even if they use the same pitch?
- Why couldn’t the team close more leads?
The above mentioned are some of the questions that sales managers cannot answer. And when things don’t work their way, they rehire the sales team or reiterate the sales target. It keeps going on and on without solving the actual problem.
So, what is the answer to this problem?
To dig deeper into the sales conversation.
Dig deeper into the sales conversation
When the sales team cannot meet the target, everyone wants to know the reason behind it. There can be several factors that influence performance.
You can start by analyzing the sales conversations. Studying the sales record will help discover where the actual problem lies.
It does sound like a good starting point. But there’s no way you can listen to hundreds or thousands of sales calls. It’s a tiring and time-consuming process. You can minimize the time taken by using conversation intelligence.
What is conversation intelligence?
Conversation intelligence is the analysis you can receive by studying different sales calls. These sales calls can take place in other mediums such as phone, chat, audio, video, etc.,
Conversation intelligence analyses all these sales conversations and gives you insights into what is going on. It lets you know the direction sales conversation is going so you can take action wherever necessary.
Conversation intelligence tools allow your sales rep to identify the sections in their sales pitch that resonate the most with every prospect, find out more at https://www.allego.com/
When you get insights on these sales calls, you can discuss with your team, replicate the winning pitch, and improve the weak parts.
How does conversation intelligence help?
Let’s look at how conversation intelligence can help you improve your sales pitch.
Helps in engaging conversations
If you can learn how different behavior and conversations can lead to insightful discussions, this can help you to close more deals.
A good sales call largely depends on what direction the conversation is going and whether sales reps can close the deal or not.
Figure out what works with prospects
Conversation intelligence can determine which type of pitch is working for your customers and which is not. Once you identify the winning conversation, you can replicate the same in all other sales calls. Later, you can make changes according to the situation.
Behavioral dynamics
Behavioral dynamics will let you know the type of sales rep’s behavior generates more positive results. Once you figure this out in the form of data, you can ask your team to follow the same to close more deals.
Market intelligence
Since sales reps talk with the prospects all day, they know best which things can work for customers and which will not. Conversation intelligence will help you to understand the current market needs that can allow creating product and marketing strategies that align with your customers.
Forecasting
By using conversation intelligence, you can have all the insights and records which makes it easy to forecast.
The data already lets you know different areas you need to improve, and you can easily predict other things such as quarterly targets, revenue, team performance, etc.,
Forecasting helps you to look into the future ahead and predict their sales target accordingly.
Onboarding new team members
Though onboarding is an important process, it’s equally time-consuming and lengthy as well. No matter what part of the sales team new members join, you will need to spend a lot of time making them familiar with the team and culture.
To speed up the process, you can use the conversation intelligence tool. It can act as a medium for new members to learn new things as you already have the sales records with you.
It can also help in creating a sales playbook which can be quite helpful to them. Thus, new joiners have to listen to all the materials and get familiar with them.
Expectations from conversation intelligence
The problems and challenges that conversation intelligence is going to solve bring up a lot of clarity and visibility.
The conversation intelligence uses AI technology to organize all the sales data making it easier for you to go through them at a later date.
After the data is organized, natural language processing (NLP) helps in analyzing the call logs.
By using the conversation intelligence tool, sales managers can check the following things:
Sales pitch
You can do the A/B testing of the sales pitch if your sales team is using the same pitch or they have improved in some way.
Exact keyword analysis
Sales managers can filter the call records and find out whether the sales reps are using a certain word, or mentioning the competitor’s product. They can also set a situation where if the mentioned metrics are not followed an SMS or email will be sent to them.
Sales narration
While you’re having a conversation with your customer, there will be a situation when the prospect will hesitate to say yes. In these situations, you have to learn not to push them too hard to sell your product. You need to understand their problems, and pain points and give them a solution accordingly.
By using conversation intelligence, you can get a clear view of how the sales conversation is going on, whether it’s one-sided or two-ways, etc.,
Conclusion
The conversation intelligence tool gives you a lot of insight in sales activities and conversations. It gives you an opportunity to analyze the sales data in a new light so that you can act accordingly to improve your sales process and drive more conversions. Which seems impossible to do without using a good conversation intelligence tool.
