One of the primary goals of businesses is to build strong relationships with customers and improve communication. This can be achieved through the use of conversational intelligence, which involves the ability to effectively communicate and build trust through conversation.

What is conversational intelligence?

Conversational intelligence is a type of software that uses AI (artificial intelligence) to analyse and extract insights from conversations between team members and customers. The data from conversation is used to improve the customer experience, increase conversions, which ultimately leads to increased revenue. It is the process of collecting, organising and presenting the data. The customer conversation data is often integrated with other technology platforms, such as CRM’s, data analytics, and digital experience platforms, to allow for real-time actions to be taken based on the insights gained. Conversation intelligence software is designed to transcribe calls into text, and analyse the transcription of a call to identify keywords, themes and possible action items. This may include telephone calls, video or audio recordings, and online chats. Conversational intelligence software is commonly used by many industries, find out successful examples of companies here.

How does conversation intelligence work?

Conversational intelligence and natural language processing (NLP) are often used together to analyze and understand human language in conversations. NLP algorithms is used to analyse the language and structure of customer and prospect conversations in order to extract insights and identify trends. For example, NLP algorithms can be used to identify specific keywords or phrases that are indicative of customer sentiment or behavior. This data can then be used to inform business decisions and improve processes. A newly in the market introduced GPT-3 model be used as part of a system that performs conversational intelligence tasks, read more about its capabilities and benefits for business.

Where conversational intelligence tools can be applied?

Customer support

Conversational intelligence can be used to improve customer service processes. By utilizing this technology, customer service representatives can reduce the time it takes to resolve customer issues and inquiries, resulting in higher levels of customer satisfaction. The technology can also provide research and potential answers to common questions for customer service representatives to use, freeing up time for more complex tasks. Additionally, conversational AI can automatically route incoming customer inquiries to the appropriate team members, streamlining the process and preventing unnecessary transfers before a human conversation begins.

Coaching and unboarding

Conversational intelligence is used to provide detailed instructions and oversight to new team members or hires, helping them to quickly learn and adapt to their new positions. In a contact centre environment, this technology can be used to answer onboarding questions and provide guidance to customer service or sales reps. Additionally, the technology can be used to monitor calls and provide actionable insights and analytics that can be used to build revenue, identify cross-sell opportunities, and coach new reps. Conversational intelligence allows to alert managers when a customer conversation or interaction requires expert intervention for resolution, including difficult conversations. It can be a valuable tool for supporting and training new team members in any organisation.

Marketing

Conversational intelligence also can be used to analyse customer conversations and identify trends and patterns that may be useful for marketing efforts, such as identifying popular products or customer needs and preferences.

How businesses benefit from conversation intelligence analytics tool?

Conversational intelligence technology reduce costs through increased agent efficiency and self-service automation. By providing customer service representatives with CI tools and resources they need to quickly and effectively resolve customer issues and inquiries, the technology can help improve the efficiency of the customer service process. Additionally, self-service automation features, such as chatbots, can free up employees to focus on more complex tasks and reduce the need for additional staff. Overall, conversational intelligence is a powerful tool for reducing costs by improving efficiency and leveraging self-service automation.

Implementing conversational intelligence can be useful in collecting and organising data from conversations and presenting it in a way that is useful and actionable. AI algorithms extract insights from recorded conversations, such as sales calls or customer service interactions. The data can be used to give customer the right information at the right time and improve their customer journey, which results in better sales.

Conversation intelligence software can be used to increase lifetime customer value by providing personalised experiences that keep customers coming back. By analysing data from customer conversations and interactions, businesses can gain insights into customer preferences and behaviour. This can be used to tailor the customer experience to the individual, providing personalised recommendations, offers, and support than align with the customer’s interests and needs. This personalised approach can help to build customer loyalty and increase the likelihood that customers will continue to do business with the company over time. Conversation intelligence platforms can help businesses to increase lifetime customer value through personalised experiences.

How isLucid can benefit your business even more?

isLucid is connecting both, conversational intelligence and information management best practices. With real-time transcription enabled, all important details and tasks are being captured and highlighted. Text can be converted into meeting minutes and tasks within a single click. Everything is being transferred to the preferred project management software, CRM or ATS. Moreover, isLucid analyses the conversation and provides ML Recommendations of the details worth paying attention to. This helps to extract the best possible outcomes of the conversation. Each meeting information is being safely stored to the single place to have traceable and sharable records. It brings clarity and alignment within team members or clients.

Interested? Book a demo.

Download for MS Teams.