While AI offers powerful capabilities, it’s not a magic fix – many companies overlook the groundwork needed to maximize its benefits. Organizations often assume AI will instantly transform their processes without proper preparation, but to truly unlock its value, businesses must be willing to analyze their workflows, set clear objectives, and integrate insights effectively.
Understanding and leveraging conversations effectively can be a game-changer for businesses. With isLucid Insights from calls or email communication, organizations gain AI-powered tools to analyze sales and client support conversations, extract key insights, and drive data-informed decisions.
Here’s how to start building your business case.
1. Does the problem really exist? Many companies don’t realize how much time and resources they waste on conversation management. But let’s start with simple questions, ideas, tips and tricks.
- How much time does your team spend manually summarizing conversations, updating CRM systems, checking call quality, or analyzing customer interactions? Are those summaries actually enriched with the data your company needs to make smarter decisions?
- How much does customer retention cost? Is churn rate part of your KPI’s and is being calculated? Have you considered what the win-back rate could be if you knew the real reasons behind it?
- Are insights from clients, sales, or contact centers getting lost? If yes, what is the loss of losing the data.
- Do inefficient processes and lack of data slow down decision-making?
2. Estimate the Costs of These Problems Once inefficiencies are identified, estimate their impact:
- Manual Effort Cost = (Hours per week) × (Number of employees) × (Hourly wage) × 52 weeks
- Missed insights on churn – Are valuable trends and opportunities overlooked? How much does the lost client cost? How much does attracting new client cost?
- Time lost – How long does it take to manually analyze and document key points? Then, calculate it.
- Inconsistent decision-making – Are critical decisions being made without full data visibility?
- Customers experience impact – Could a lack of conversation insights affect retention or satisfaction?
3. Consider the Benefits of isLucid Conversation Insights:
- Prevent churn – Identify unsatisfied clients and follow up to keep loyal to the company. The key signals are possible to track and may be prevented on time. Automated conversation analysis – Instantly identify key themes, sentiments, and action points.
- Data-driven decision-making – Leverage AI insights to refine strategies and improve performance.
- Faster reporting and documentation – Reduce time spent on manual reviews.
- Enhanced customer experience – Use sentiment and trend analysis to improve interactions.
- Optimization of processes – Streamline workflows by automating routine tasks.
4. Calculate the annual loss. A strong business case includes financial impact.
Measure these numbers:
- How much time does your team spend on manual review and summarization?
- If each employee saves just 2 hours per week, how much does that add up to annually?
- What’s the impact of missed insights on sales or customer satisfaction?
5. Start Measuring Potential Gains
Even before implementing isLucid Conversation Insights, start tracking:
- How often are important insights missed in conversations?
- How much time is spent summarizing and analyzing calls or emails?
- Could a better understanding of customer sentiment lead to improved retention or revenue?
- Are there routine tasks that could be automated for efficiency gains?
- Would faster insights improve decision-making and customer satisfaction?
- Can you answer these questions in numbers?
These insights will help to build the case for adopting AI-powered conversation analysis.
Ready to unlock the power of your conversations? If you need help with calculating the case, feel free to contact us: [email protected]