Conversation Intelligence Software: Is It Worth the Investment?

What Is Conversation Intelligence Software?

Developing your team’s collective conversation skills is one of the most efficient ways to drive revenue. But, on a typical day, how long do you have to listen to live calls or manually assess your team’s performance? You can overcome this challenge by utilizing Artificial Intelligence (AI)-powered conversation intelligence software, which will let you gain insights into each customer interaction and identify skill gaps in your team and individuals.

This technology is not to be confused with conversational AI. Conversation intelligence platforms offer experiential learning with a continuous process that measurably improves communication skills throughout the workflow. Conversation intelligence solutions, in general, are intelligent platforms that capture and evaluate calls automatically. If you are interested in assessing, monitoring, and improving the communication skills of various teams, it may be time to invest in more robust conversation intelligence software. 

From Sales to Customer Success and Customer Service, this could be an innovative and creative solution that would be beneficial to many company areas at scale. If used consistently, the right platform can let you identify high-performing content and track behaviors you could use to achieve sales or any other corporate goals related to human interaction. 

Related: The Secret to Sales Success: Enable Every Rep to Meet Quota, Every Time

Understanding Conversation Intelligence Software Functionalities

If you do a simple Google search, you will see there are many options for conversation intelligence software. Nonetheless, if you are looking for a platform that can actually measure human interaction scientifically, you will need to get way beyond chatbots or simple call recording software.

Ideal conversation intelligence systems capture and evaluate video, voice, and language data from video calls. In addition, they provide leaders with data-driven metrics and insights that they can apply to their corporate strategies. The software can detect subtle cues and body language that humans might not notice using AI algorithms.

Advanced conversation intelligence software will also track the following metrics, among others:

• Sentiment analysis
• Keywords
• Key messages
• Empathy
• Trustworthiness
• Credibility

Real-time tracking is possible thanks to automatic listening, audio transcription, performance insights, and even prediction engines that can suggest the next step for a successful interaction. 

In addition to collecting and evaluating video, voice, and language information, the best conversation intelligence software can also analyze information gathered from a variety of interaction scenarios, including sales calls, presentations, or interview sessions. Those insights then help leaders develop science-based, data-driven strategies. 

The Benefits of Conversation Intelligence Software

There are a number of benefits that you can reap if you choose to implement sophisticated conversation intelligence software. The following are just a few examples.

It reduces manual processes and guesswork

According to Deloitte, conversation intelligence integrates a series of technologies that enable you to automatically perform natural language processing (NLP), intent recognition, entity recognition, fulfillment, optimized voice responses, dynamic text-to-speech, machine learning, voice analytics, non-verbals, and contextual awareness.

If you had one solution that uniquely combined all of these capabilities for different teams in your company, your company’s communication skills could dramatically improve. In addition to performing better, they will make valuable connections with their counterparts through their different expertise areas. Furthermore, you can achieve the benefits in a flexible and scalable way. 

It can help you boost performance 

The more you see a piece of information or incentive for behavioral change, the more it sticks in your mind. Workshops, which are typically brief, one-time sessions, rarely produce these types of lasting results. 

However, an excellent conversation intelligence system will offer regular feedback on a weekly or annual basis and practice recommendations based on data-driven analysis. This tool can act as a virtual mentor or coach by providing constant feedback relevant to an individual’s evolving skillset. With the help of systematic practice features, your teams will have real communication and connection power with their counterparts: From large audiences at a public presentation to a one-on-one interview.

It automatically identifies communication gaps and connection skills

Without spending hours listening to sales calls or watching videos, you can find out exactly what your most successful employees and leaders do. Identifying these strengths and translating them into measurable data makes them easier to share with the rest of the team to train them up. By taking advantage of this, you’ll eliminate productivity inconsistencies within your team.

It will significantly help your sales teams

If your company has a growing and highly competitive sales team, conversation intelligence software can prove helpful. You may know that forward-thinking sales leaders close their team members’ skills gaps by focusing on two main approaches: 

• Through granular, data-driven communications analysis, identify specific changes that will improve overall performance. Via this feedback, reps can repeatedly practice micro-skills until they become instinctive. 

• Additionally, sales reps can learn through experiential learning when doing their everyday tasks. They will retain more from this real-world, live training than from attending time-consuming workshops or lessons planned around fictitious scenarios. The real-time feedback you provide your reps comes from their actual experiences, which enables them to make crucial decisions, find out what went wrong, and get immediate feedback. 

An advanced conversation intelligence software can help you implement these two strategies at once, automatically, efficiently, and at scale. 

Related: Leveraging AI for Better Sales Conversation Training & Coaching

What to Consider When Choosing Conversation Intelligence Software

The most advanced conversation intelligence software provides insights into not only what your team members say but also how they say it. Using an AI-based platform, you can accurately measure their skills even with soft skills and in the most subtle areas.

Yet, how do you select the best platform for your business? Take a look at these features and characteristics so you can make an informed decision.

Scores conversations automatically

Optimizing team performance will be easier with a leading tool that gives you insights and intelligence without accompanying your team in person or listening to endless recordings. You want to save time, and you want to automate everything as much as possible. 

You need a platform that can automatically score, benchmark, and assess communication behaviors based on existing coaching methodologies and competency models. 

Ideally, the platform would also be able to detect and quantify whether or not the individuals possess a series of soft skills that will capture attention and lead to high-quality conversations.

Provides intelligence that drives revenue outcomes

Your conversation intelligence software should work seamlessly with other applications, for example, video conferencing tools, customer relationship management, calendars, human capital management systems, learning experience platforms, and learning management systems. The platform can then connect insights and data necessary for you to make revenue-impacting decisions based on human interaction information.

Develops and displays manager insight reports

Make sure your platform includes reporting tools and other resources to allow your staff to achieve their goals, improve their performance, and enhance their presence. How would leading conversation intelligence software combine these insights? Look for advanced analytical capabilities such as team and individual reports, progress reports, and industry, role, and team benchmarks.

Empowers sales teams

Your best solution will identify and address potential skill gaps to improve your representatives’ success by providing personal data analytics, feedback, and development plans.

Individualized feedback, guided learning journeys, and milestone motivation are just some of the ways we help your talent succeed. The tool will also share individualized tips and best practices to help your reps achieve their goals.

Team members can engage in, practice, and improve their skills through experiential learning opportunities. Online courses do not offer this capability. Your team can benefit from a tool that includes behavioral assessments, role-based scenarios, and a video library and transcripts.

Conversation Intelligence Software Use Cases

Innovative conversation intelligence software can benefit your business in many ways. With AI, you can leverage all the power of your employees to build meaningful connections constantly with any audience. This tool will allow your team to continuously develop and succeed, as it will enable them to communicate effectively at a personal and precise level.

Any industry can benefit from this technology and can use it in one or more of the ways listed in this section. When you get access to the platform, you should use it in a way that benefits as many people as possible.

The following are a few ways your company can use this solution:

Create learning and development programs for communication skills

Your company’s recruiters, administrators, and senior management can identify skill gaps so that you can educate and support your learners. An efficient and empathetic communication development program can benefit multiple organizational areas at scale.

Educate your top executives

In particular, supervisors and managers can make the most of their best assets and eliminate their weak points in order to become more effective in connecting with their teams. When you choose the right conversational AI solution, you will be able to help your participants learn interpersonal skills such as executive presence, influencing, handling complicated interactions, and dealing with rejections, among others. 

Develop your sales teams, collectively and individually

In addition to identifying the strategies of your most successful sales reps, you can also share those strengths with underperforming sales associates with the help of the best conversation intelligence software. By leveraging this advantage, you can eliminate inconsistent productivity across your team and enable them to connect with clients and prospects more effectively.

Improve your executive leadership

Your leaders frequently communicate on behalf of your brand, and they also spend a considerable amount of time on this task. You can make your senior executive team the best in the industry by providing personalized coaching combined with data-driven feedback. You can achieve both goals by enabling individualized, on-demand coaching programs using leading conversation intelligence software.

You should choose a platform that pulls human-scored data from a communication database to build its AI algorithms. Through combining behavioral and social sciences of human communication, this software will be able to identify the most critical communication efficiency factors to meet your interaction goals.

The Best Technology Partner Is Currently Available 

No matter how revolutionary their speech is, if an agent or employee can’t communicate effectively, they won’t establish a successful connection. The company, however, gets its long-term success from people who are strong communicators. They can build strong stakeholder and customer relationships and achieve more goals to generate increased revenue. 

You need to analyze your company’s unique situation in order to decide whether investing in conversation intelligence software is worthwhile. It may be time to consider an automated platform if you’re spending too much time on manual processes for monitoring, developing, and coaching your employees. Automating processes with science-based technologies will not only free up your schedule but will also have a positive impact on your company’s bottom line.

With Quantified, you will be able to take advantage of modern data statistics, computer science, human expertise, as well as a vast database of professional communication benchmarks. The exclusive measurement methodology created by Quantified, built on decades of technological advancements and research, is revolutionizing the way sales professionals, executives, and other team members get ready through science-backed training to establish stronger effective interactions.

Costly, time-consuming, and generic workshops are a thing of the past. Your team members will not have to worry about coaches’ competence or waste months getting focus groups together. With AI-powered communication analytics, they can model behavior changes based on accurate, objective data.

In Quantified, we analyze actual professional conversations to produce evidence-based performance scores, as well as a coaching plan for improving specific communication and connection skills. Using customized, on-demand modules to test, build skills, retest and continuously improve communication performance, individuals can control their own development on their own schedule. Request a demo now.