Supercharge Sales Pipeline With Voice Analytics Technology

by JP Whitford

Voice Analytics for Sales Optimization

Buying signals can come in many formats – browsing specific content on a web page, requesting a trial, etc. Revenue teams often have various technology and sources to measure these signals, but one major channel is often ignored – conversations with your customers! Outbound and inbound call centers handle large volumes of calls each day. These calls are full of customer-centric data points like brand affinity, sentiment about products, even readiness to buy.  

Speech analytics offers an extensive view of how your customers feel about the products and services you provide. You get an authentic and raw look into how they interact with your business at every stage of the sales pipeline process. This can help bridge the gap between your methods and your customers by unlocking key insights otherwise overlooked. Find out what works, and scale your sales.
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Scale Your Sales

Your call recordings can be used to identify customer trends or sales opportunities.  To perform trend analysis, you need to be able to analyze and score 100% of your call recordings. You can then identify and correlate desired outcomes of the calls, such as driving successful sales, with certain agent behaviors, skills, or language used.

If you analyze your call recordings with speech analytics tools, you can identify different ways of making a sale and select the one with the best outcome to create an optimum path. Agents testing this path can then be scored against adherence to the desired script or their ability to identify language which indicates a willingness to buy. 

What’s in a call? EVERYTHING.

Every conversation holds hundreds of signals, both verbal and non-verbal, and contextual as well. For call centers, whether inbound or outbound, these signals are often left as “dark data,” or data that is never extracted or used for business decisions. 

At VoiceBase, our goal is to extract allllll of that data, process it with AI-Powered Voice Analytics, and provide business leaders with actionable intelligence to make better decisions. We provide a way to easily measure and manage your sales and customer data from every single phone call or chat transcript. 

The words a prospect uses, the speed at which a sales rep speaks, the choice of certain vocabulary over other words, pitch, tone, sentiment…all of these are signals that can inform sales strategy. By collecting all these signals from your sales calls, you have the power to understand exactly how to accelerate sales revenue & increase call center effectiveness. So what can you do with voice intelligence?

Predict Outcomes & Act Quick

Stop guessing at what the next best action is and start using data-informed insights to drive your sales process. Using advanced machine learning methods, you can set up a framework that detects and predicts outcomes and events before they occur. With voice intelligence tools you can:  

  • Utilize real-time alerts to provide agents the next best action to use
  • Provide instant answers for the agent to the questions being discussed
  • Score a prospect on likelihood to buy based on ML model
  • Score a customer on likelihood to churn 
  • Alert a manager to declining agent performance

Flag and tag calls that are not in complianceThese insights allow team members to employ necessary best practice sales tactics to potentially save a sale as it seems to be failing, or alert the proper manager to step in and help.  By predicting the outcome of common events, agents needn’t waste time mulling over what to do next, instead, they are provided with an educated and supported route to follow 

Sell, Analyze, Repeat!

Build the Optimal Sales Process Across All Stages of Your Pipeline

Setting specific metrics to analyze your sales pipeline efforts helps provide an in-depth view of what is working and what is not in regards to your current practices. Comprehensive reporting dashboards allow your sales team to understand all of your data and analyze it all together at once to best optimize your sales process. By analyzing your data in aggregate, you can: 

  • Sort out high-value activities to prioritize
  • Improve sales forecasting accuracy
  • Source leads that are ready for sales 
  • Build detailed ICP profiles to use in marketing campaigns
  • Spot leads that have increased “ready to buy” signals
  • Alert the agent to offer “x” add-on product with a live screen pop
  • Track customer lifetime value, churn, and other important revenue metrics
  • Determine the best “talk tracks” or scripts being used
  • Motivate  your sales reps with gamification scoreboards
  • Track sales rep effectiveness and needs for coaching

Visualizing all your conversational data in one business intelligence or reporting tool gives managers better insight into which stages need more attention and tweaking, and what processes should be emphasized.

A 360º View of Sales Campaigns and Activities!

Real-World Use Case: Increasing Sales with Voice Analytics

Proactive Dealer Solutions, a business development firm for automotive dealerships, wanted to understand more about what was happening in client calls, and how they could use those insights to improve sales performance.

By analyzing 100% of calls, they were able to increase appointments made from 18% to 55% and lowered missed inbound calls from 20% to less than 10%. Additionally, all their optimizations made after they were able to analyze their calls with voice intelligence increased monthly revenue for each store by over $100,000 on average.

Read the speech analytics sales optimization case study here

 

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