CEOs need to understand the customer sentiments to make data-driven decisions
CEOs and business leaders who establish data-driven decision making culture in their companies go a long way. It helps an organization grow strategically without any ambiguity. This improves transparency among different business units by removing previous roadblocks and increasing visibility into what the customer is really looking for.
With rapidly changing business models and increased emphasis on remote work, companies are experiencing some fundamental shifts - both in sales operations and executive-level decision making.
Previously sales leaders would look at a snapshot of data and analytics to learn about aggregated direction and where a company need to increase their focus. They, unfortunately, never got to understand the key areas where their sales team needed to improve or why some salespeople were overperforming while others were underperforming despite making the same number of calls.
The basic KPIs such as activity, product and revenue metrics derive high-level directions but doesn’t provide intelligence around what needs to be done from a sales, product or marketing point of view to be able to achieve company goals, targets and individual KPIs.
That’s where conversational intelligence becomes vital to help you understand specific areas to focus on. For a client focused team, it’s important to understand what clicks with their clients and what’s not. How to structure a conversation to be able to have more impact on decision making! That’s why there are so many sales training agencies such as JB Sales and Hoffman are running successful businesses due to a need for improving sales communication and techniques to get the deal done.
Let’s discuss some of the ways in which technology and insights captured through conversational AI can really help your executives to learn specific nuances of a communication. This not only helps you improve sales performance but also gives you rich insight about what customers are thinking at any point in time. Let’s take a step-by-step approach on how this goal can be accomplished.
So which dataset can help you make decisions for your company? The answer is ‘sales conversations’. Automated conversational AI platforms can capture sales call recordings, emails, tweets, CRM notes etc. Sales call is the only point of contact when a customer shares what they like and what they don’t. Having a smart technology stack, that can record and transcribe all your calls and then extract useful insights using the text generated through various call recordings, is super important.
Sales are dependent on many different factors, some useful to track and analyze, others not as much. The important thing is to look at your data and learn the specific nuances of the conversations that are being discussed. For example, sentiment, clarity, engagement and inquisitiveness are some of the important metrics that can help CEOs and executives to decide whether a particular client is interested in purchasing their product/services or not. By doing this you can get clarity and insight into which areas of the sales pipeline to focus on.
Once you have learnt about your sales reps related data, you’ll be able to delve into what your customers' pain points truly are, not just what you think they are. By using call analytics you’ll be able to filter through your conversations to see when questions were asked, what were their concerns and what they were about. This conversational intelligence can gather greater insights on how to retain a customer. If your customers are always asking about a certain product feature or pricing discounts, you’ll know that it is important to them to keep them happy.
By utilizing conversational AI to its fullest potential, you’ll not only be able to build your portfolio but also gain insights to help with other aspects of your business:
1. Marketing – using call insights you will have valuable knowledge into how your customers think and speak. What their voice is and how they phrase certain problems. The easiest way to get more customers like the ones you already have is to speak their language in your marketing materials.
2. Product – we all want to keep evolving our products and services to meet what is wanted in the market. Using call insights you’ll be able to easily pick up on when a certain feature is being mentioned on a regular basis. That will give you the confidence to invest in upgrading to offer what you’re being asked for.
In summary, all departments benefit from a single dashboard, not just the sales team. If you’re thinking that conversational AI could work for your business, Flyte offers a free trial to get you started on your journey. Book a demo today and explore some of the latest insights that can change the way you think and make decisions in your company.
Keywords: customer insights, customer concerns, conversational AI, intent detection, advanced AI, company sales goals, sales pipeline
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