Have you heard of conversational intelligence? This emerging technology is making its way into our business.

Conversational intelligence, or CI, is a category of software that uses artificial intelligence (AI) to extract relevant data from conversations between your sales teams (sales, customer service, account managers) and customers.

The global conversational intelligence market is expected to reach $18.4 billion, from 2022 to 2028, with a compound annual growth rate (CAGR) of 21.8%.

In France, we're starting to hear more and more about this technology, its potential and its promises in terms of productivity. But let's be honest: we're 2 to 3 years behind our American counterparts.

No need to watch the train go by! In this article, I'm going to explain exactly what this technology is, what it can do for us and, above all, how it's transforming our businesses.

What exactly is conversational intelligence?

Do you have ambitious goals? Do you want to develop your sales activities? CI optimizes data collection and can make all the difference for you.

Conversational intelligence technology transcribes conversations and analyzes them, often in real time. It gives us information on what was said, how it was said, the context of the conversation and what came out.

It provides us with a wealth of quality data, so that we don't miss out on any relevant information from our customers or our teams. When we use it, we immediately have usable data.

With conversational intelligence, there's no room for error! You can be sure that 100% of customer interactions are recorded, analyzed and taken into account.

For example, conversational intelligence enables us to quickly identify a customer's "weak points". They may express subtle or indirect frustration in the course of a conversation: our human ear would have had difficulty identifying the problem without detailed analysis.

The CI understands these subtleties and we can adapt our sales strategy accordingly.

Conversational intelligence therefore offers valuable insight into customer interactions, giving us a real competitive edge, to close more sales and improve customer satisfaction.

And all this data is integrated into CRMs to improve shopping experiences, increase conversions and generate better returns on investment!

How can conversational intelligence benefit sales teams?

Its impact on our sales teams is manifold. It contributes to improving our performance in several ways:

• Analyze trends: conversational intelligence provides easy access to all information. This saves time in research and identifies patterns: what works, what doesn't, what our customers' needs are. ‍
• Sharing best practices: facilitates the sharing of best practices within the team. For example, by analyzing successful calls, we identify successful techniques or phrases and share them with the rest of the team. Conversational intelligence makes it possible to create a genuine culture of sharing best practices between salespeople. ‍
• Giving targeted feedback: managers can provide more specific feedback, with concrete examples from conversations to show what's working well and what can be improved. ‍
• Coaching on a large scale: by collecting best practices and gathering information on specific cases, conversational intelligence helps managers to coach on a large scale, which represents a considerable time-saver for managers. And as you know, effective coaching can make us up to 30% more efficient in managing our transactions!‍
• Accelerate integration: new arrivals have access to these same conversations with customers, and key information is available in real time. They quickly understand the company's expectations and learn how to interact effectively with customers. ‍
• Enriching CRM: the best part is that conversational intelligence can be fully integrated with CRM. It retrieves information directly from conversations and integrates it, easing the burden on salespeople. ‍
• Facilitate information sharing between teams: all this data is accessible to everyone, throughout the company, and is not limited to a single department. This is a considerable advantage for sharing information between teams: it enables us to better understand customer needs and adapt our strategies.

In short (but you get the idea), conversational intelligence is an invaluable tool for improving our performance, saving time and being more efficient. It's a real revolution in sales!

Thanks to internal audits carried out by our customers, we estimate that sales staff gain an average of 8 hours a month thanks to Modjo!

What impact does this have on the company as a whole?

Surprise, surprise: conversational intelligence isn't just for salespeople. Clearly, the power of this technology has an impact on the entire enterprise.

This creates a deep synergy between us all:

• Customer Service can respond more effectively and personally to customer requests. It identifies trends and recurring problems in conversations and improves its processes, anticipating needs and resolving problems more quickly.
• Marketing also benefits from the customer information brought to the fore by conversational intelligence. They better understand who their customers are, and can develop more targeted and effective campaigns.
• The product team enjoys the same benefits: the information extracted from conversations with customers enables them to improve existing products and develop new ones that perfectly meet their expectations. It identifies the features most appreciated by customers, or recurring problems, to align more precisely with market expectations.
• User Experience (UX ) ) better understands how customers interact with the company and optimizes touch points to deliver a smoother, more satisfying experience. And a satisfied customer is a loyal customer!
• Executives use conversational intelligence to make informed strategic decisions. To define business strategy, improve operational efficiency or anticipate market trends, conversational intelligence provides them with all the information they need to make the right decisions.

Ultimately, conversational intelligence has the potential to radically transform the enterprise, creating a data-driven culture and improving efficiency at every level.

At Modjo, we're convinced that conversational intelligence is the key to unlocking your company's full potential.

It helps you analyze every sales call to understand what's working and what's not. You can coach your team based on real data, not guesswork. And you do it in real time, giving your team the tools they need to succeed.

Because at the end of the day, it's not just about selling more, it's about selling better. And conversational intelligence can help you achieve your goals, and more.

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