9 Best Conversation Intelligence Software in the Market [2020]

9 Best Conversation Intelligence Software in the Market [2020]

Are you into voice operations and looking for the best conversation intelligence software to improve call outcomes?

In this post, I have covered 9 such tools that you can use to run faster call QA, deliver focussed rep coaching and improve sales outcomes. 

A. What is conversation intelligence?

Conversation intelligence is the process of finding actionable and valuable business insights from conversations that reps are having with prospects and clients.

The data collected from these conversations is used to understand the customers better; and analyse the performance of the agents indepth.

Conversation intelligence ensures that every call gets analysed without a miss.

In a normal setup, calls are listened to randomly, thus leaving behind a substantial value back on the table.

With conversation intelligence tools, 100% of the calls get monitored and analyzed for quality purposes. 

B. Benefits of conversation intelligence

Customers are the lifeline of an organisation. Without adding new customers and retaining the existing ones, you cannot expect an organisation to work and move forward.

So, it becomes important that your customer facing teams (like sales, success, support etc.) are efficient in their conversations.

For that to ensure, you need to keep monitoring every customer conversation that happens in yoru organization.

But analysing hundreds of calls by a handful of quality folks is next to impossible.

That’s where conversation intelligence comes into picture.

Conversation intelligence analyses every call and brings in insights that can help operational managers to understand how the reps are performing.

It brings in much needed efficiency that is required in customer calls.

Here are the top 6 benefits of conversation intelligence for the sales team:

1. Conversation intelligence helps sales teams focus on those calls that needs attention urgently. Thsi results in faster call QA.

2. Conversation intelligence ensures 100% call coverage, as against random sampling used by most of the organizations.

3. Conversation intelligence helps you analyse the performance of your agents against the benchmarks you set (e.g. listen to talk ratio).

4. Conversation intelligence can help you identify the areas for sales coaching. 

5. Conversation intelligence drives direct cost savings by reducing the number of quality people required in the team. 

6. Conversation intelligence helps you catch costly mistakes well within time (like regulatory and compliance issues).

C. 9 top conversation intelligence software

1. Jiminny

Primary use case: Sales Coaching

Pricing: $65 – $85 per agent per month

Committment required: Yes (for minimum number of agents) 

Jiminny

Jiminny is a conversation intelligence software for analysing customer conversations.

It records, transcribes and analyses all your business calls and meetings in real time and provides you with necessary data points and insights. 

All this information helps make calls more effective.

Also, it automates with the business’s CRM software that provides you with in-depth insights on where to coach for the highest impact.

Jiminny has a deep integrations built for HubSpot CRM so that you can track the customer journey throughout the sales cycle and also understand how well your sales team is performing.

A great platform to improve your sales team performance and make them work smart.


2. Gong

Primary use case: Revenue Intelligence

Pricing: $1000 per agent per annum

Committment required: Yes (annual committment for min 3 agents) 

Gong.io

Probably one of the pioneers of the industry, Gong is a unicorn with a valuation of over USD 1 bn.

Gong unveils customer reality which in turn enables revenue teams to realize their full potential.

Gong’s conversation intelligence platform analyses every customer interaction and then provides you with insights so that you can make informed decisions on how to improve your calls and meetings. 

It empowers revenue teams to make decisions based on data instead of opinions. 

Gong is a priced in the higher range and is best fit for enterprises who have the pockets to afford it. 


3. Chorus

Primary use case: Sales Intelligence

Pricing: Custom

Committment required: Yes (for min number of agents) 

Chorus helps you track, record and analyse calls and video meetings that helps your sales team win more deals. 

This software automatically records all the calls and video meetings of a business and transcribes it accurately in real time. 

All this data is used by the sales team for follow-ups, note taking, onboarding and coaching. 

The AI based insights given by the platform tells you about the deal risks, next steps, talk track adoption, and tells you what works and what doesn’t works for a company’s sales cycle.


4. Observe.ai

Primary use case: Contact center performance

Pricing: Custom

Committment required: Yes (for min number of agents) 

Observe.ai

Observe is an agent enablement platform powered by voice AI. 

This software helps you analyse more calls, evaluate agents and coach teams while having full transparency into customer experience operations. 

With observe.ai, business can look into customer sentiment intelligence and with this data you can turn your agents into top performers.

This tool analyses 100% calls so that you never miss an opportunity or risk.

Also, you can build trust with accurate data and fix broken processes with this automated software.

Next, you can coach teams with targeted coaching and know what training programs drive change and replicate what top supervisors and trainers do best.


5. ExecVision

ExecVision.io

ExecVision believes that insights and data from customer conversations becomes more valuable when you can use this data to improve the performance of marketing, sales, support and product teams.

This company believes in improving performance by changing human behaviors.

It helps you narrow down the Insight-to-Performance gap, thus helping your teams to improve performance based on powerful insights from customer conversations.

This tool is able to achieve reduced onboarding and ramp time, increase in win-rates, lower employee attrition and an increase in cross functional alignment. 


6. CallMiner

Primary use case: Enterprise contact centers 

Pricing: Custom, based on minutes of consumption

CallMiner

CallMiner is a SaaS-based and speech intelligence platform for enterprise contact centers. It uses AI and machine learning to drive insights and data from customer interactions.

It tracks, transcribes and analyzes each and every call and meeting with your customers.

On the basis of analysis, it provides highly effective, usable and scalable speech analytics solutions.

All these solutions lead to enhancing customer experience, contact center optimization, sales effectiveness and risk mitigation performance.


7. Avoma

Primary use case: Meeting assisstant for sales teams

Pricing: $90 per agent per month (for plan allowing dialer & CRM integration)

Committment required: No 

Avoma

Avoma is an end to end AI meeting assistant that helps customer-facing teams capture important insights before, during and after customer meetings.

It analyzes conversations and based on that provides insights that can help reduce sales cycle and also reach out to more customers.

This tool automatically records all meetings and syncs all the insights directly with your CRM software.

You can review specific calls and meetings by searching directly within transcripts.


8. Refract

Primary use case: Revenue intelligence

Pricing: Custom

Committment required: Details not available 

Refract.ai

Refract helps sales teams and sales professionals to adapt to the competitive market by providing full detailed analysis on every sales conversation.

The AI analysis of each conversation reveals the points which leads to success. 

Also, it tells what top performers are doing differently for a high rate of successful calls and implements the same learnings across the team.

It is easily integrated with the growing range of CRMs.

Also, it engages sales representatives in self-directed learning by telling in detail what happens on the calls.


9. Voyc

Voyc.ai

Voyc captures voice or text conversations and feedback from multiple channels.

After that it analyses all these data using machine learning and AI which unveils important insights within this data to you.

Based on this analysis, you will come to know how your customers feel: what they are happy or upset about.

Also, you can set flags and alerts for specific phrases.

It gives a real time view of what’s happening and also creates and sends reports to the right people.

Frequently Asked Questions (FAQs)

1. What is conversation intelligence?

Conversation intelligence is the process of derving actionable insights from conversations of sales reps with the prospects. These insights helps sales managers to improve the effectiveness of these calls.

2. Why is conversation intelligence essential?

Conversation intelligence is essential because:

a. It results in faster quality assurance.

b. It analyses every call.

c. It reduces compliance and risk issues.

d. It helps to understand winning behaviors.

e. It helps to coach reps.

f. It saves cost and time.

g. It analyses performance of agents againse benchmarks set by you.

3. What are different types of conversation intelligence software?

Different types of conversation intelligence software are:

a. Jiminny

b. Chorus

c. Enthu

d. Gong

e. Observe

f. ExecVision

g. CallMiner

h. Avoma

i. Refract

j. Voyc

Conclusion

Conversation intelligence software is definitely the need of the hour.

Whether you are into sales, customer service or handling support, there’s lot of intelligence that gets generated from the customer conversations. With speech analytics software, you can be assured that you are not losing on important customer insights.

Conversation intelligence is not just about monitoring the calls; it’s about learning from them and making the next conversation even better.

The end results include improved revenue performance and a rock-solid calling team.

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