Conversation Intelligence Software

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Conversation Intelligence Software TrustMap

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Learn More About Conversation Intelligence Software

What is Conversation Intelligence Software?

Conversation intelligence software records, transcribes, and analyzes customer and prospect conversations. This allows sales reps, account managers, and customer success managers to gain deeper visibility into the overall health of the deal/account and identify the best next steps.

This type of software is related to call recording software, though it takes call analysis a step further by applying artificial intelligence (AI) to analyze the speech, text, and sentiment within call recordings. Using natural language processing (NLP), conversation intelligence platforms utilize a self-learning algorithm to analyze speech and text elements.

Thus by default, all products featured in this category include call recording and transcription capabilities. But the layering of AI-based insights on top of basic call recording and transcription means conversation intelligence platforms are able to:

  • make data-backed recommendations to users,
  • proactively flag deals or accounts that may be losing momentum,
  • identify best practices that should be adopted by the entire team.

This software is also closely related to sales coaching software. In fact, many conversation intelligence platforms offer sales coaching based on the meeting intelligence the product collects.

Within the conversation intelligence space, some vendors have taken the approach of adding more integrations so that call analytics and data can be pulled into third-party systems like CRM, business intelligence (BI), and marketing automation software. On the other hand, other vendors have created a centralized dashboard within their own platform where users can find call data and analytics.

Benefits of Conversation Intelligence for Sales and CS

There are a number of benefits to using a conversation intelligence platform for customer-facing teams like sales, customer success (CS), customer experience (CX), ecommerce, marketing, etc.

For sales teams, conversation intelligence software can help increase overall team performance. This could include helping to ramp up new hires quickly, identify and socialize best practices, and ensuring all reps stay on message.

For customer success and customer experience teams, these platforms help provide visibility into overall deal/account health and engagement level. For example, conversation intelligence platforms can help create smooth account transitions (from sales to CS, sales to implementation, etc.) since all team members will have access to call recordings and intelligence. Users can also collect and document customer feedback via conversation intelligence tools.

And for strategic members of revenue-driving teams, this type of software can help inform critical go-to-market decisions. For example, teams can utilize call intelligence to help conduct win-loss analysis, understand which competitors are showing up more in deal cycles, and keep a thumb on the pulse of market trends.

Conversation Intelligence Software Features

Most conversation intelligence platforms will have the following features:

  • Call recording
  • Cloud storage for recordings
  • Call transcription
  • Intelligent call analytics
  • Topic tags
  • Topic-based call analytics
  • AI-based insights
  • Meeting/call sharing
  • Call snippets
  • Deal risk/account health alerts
  • Sales coaching
  • Closed won/lost analysis
  • Integration with third-party tools (CRM, BI, Marketing Automation, etc.)

Conversation Intelligence Software Comparison

Before pulling the trigger and investing in a conversation intelligence tool, consider these key factors:

  1. Ease of use: This is arguably one of the most important aspects of the tool, as it will make or break adoption of the platform among your sales team or customer success/experience team. Try out a free trial of the conversation intelligence platform you plan on purchasing and ask a few end-users to trial it as well. This will give you a good idea of how user-friendly it is and how quickly it will be adopted by your team.
  2. Supported languages: As analyzing and providing insights based on conversations is the main focus of these platforms, make sure they support the language(s) your business uses. Some vendors provide support for a larger number of languages or better quality support (i.e. transcription and translation capabilities).
  3. Transcription accuracy: Vendors that offer robust conversation intelligence solutions (i.e. ones that have been on the market for a number of years) tend to have more mature transcription capabilities. This is because their AI algorithm has been able to learn from a larger number of conversations and improve the accuracy of its transcription. Other things that can impact transcription accuracy are how well the platform can recognize speech from speakers with accents and the number of supported languages.

Pricing Information

Most conversation intelligence vendors do not provide public pricing information on their website. Pricing for these platforms is typically subscription-based, with the option to pay on a monthly or annual basis.

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Frequently Asked Questions

What does conversation intelligence software do?

Conversation intelligence software records customer and prospect calls and then uses artificial intelligence (AI) to analyze speech and text elements of the conversation. These tools aim to help sales reps and customer success managers identify actionable opportunities, client sentiment, and overall account or deal health.

What are the benefits of using conversation intelligence software?

The primary benefit of using conversation intelligence software is more visibility into overall deal or account health. But beyond this, conversation intelligence products can help businesses:

  • Make more data-driven decisions
  • Flag deals that may be losing momentum
  • Help prevent customer churn
  • Identify best practices among sales and customer support reps that should be more widely adopted

What are the best conversation intelligence products?

Some popular conversation intelligence products include:

How much does conversation intelligence software cost?

Most products charge on a per user per month or per user per year basis. However, some conversation intelligence platforms have a large one-time fee in addition to subscription costs. One-time fees cost about $5,000. Subscriptions costs can range from $1,000 - $1,500 per user per year or from $120 - $160 per user per month.