Cold calling is the bread and butter of all salespeople. But most businesses do not understand the importance of recording these calls, and most business plans and strategies end up being a disaster or literally useless.
“75% of prospects are willing to make an appointment or attend an event based on a cold call alone. – Discover Org”
So doesn’t it make sense to records these calls and find out the winning factors for your business?
Cold calling and recording go hand in hand. By recording sales calls, you as a business can receive vital information not just about the sales team but also about your customers. You can help your sales team evaluate and enable personalized training, sales strategies, and improv sales scripts by recording your sales calls.
Did you know “An average turnover cost for a sales representative is nearly $115,000”?
Businesses spend thousands of dollars in acquiring and training their sales team. This is because the sales team is the front-facing force for any business, and providing them with the product and soft skills training is essential for a business’s survival. Enabling the sales recording can easily automate the whole process without any hindrance. Sales reps can listen to old calls and understand the customers and the right responses for their queries.
And not just sales training, recording sales calls can automate many of the sales and marketing activities. But most businesses make the mistake of investing in multiple recording and data storing tools. That again leads to a lot of wasted effort and time from the seller’s side.
They have to switch to various tools just to record or transcribe a single call. And searching for a single file from the drive, we all know how much time it takes for that. But before we get into what is the best sales recording tool that considers your entire sales process. Let’s deep-dive, first, into why sales recording is essential.
Benefits of Recording sales calls
Table of Contents
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Taking Notes
One of the significant tasks in a meeting is taking notes. Even though it is time-consuming and distracting, every sales POC has tried his best to take notes and add them to the CRM. For field sales and future reference, sales call recording software like conversation intelligence can easily record calls and transcribe it. CI allows the seller to focus on the customer and give them the best possible answers.
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Pushing Task on CRM
Another task salespeople struggle with or forget to do is adding the meeting notes on CRM. A sales recording software such as conversation intelligence does this for you. It automatically notes the highlights of the meeting and adds the task in the CRM without any effort from the seller.
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Review and Feedback
By recording sales calls, sales leaders can quickly review the team’s performance and provide feedback without going through multiple files and tools to check how the seller is performing. They can access the call at a granular level and determine what the sales team requires resources and training.
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Creating Accountability
When sales representatives are aware that their sales calls are being recorded and reviewed by the sales team, it creates a sense of professionalism and accountability. They’re aware of sales calls getting recorded and that they are held accountable for their every action.
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Enforcing Quality Control
Most of the time, the size of the team is vast, and it becomes difficult for sales leaders to go through all the calls. Sometimes they listen to a specific portion of the call to understand the seller’s performance. But is that enough?
Call recording software like conversation intelligence transcribes the entire call and analyzes it for call insights. It even highlights the wisdom and skill analysis report. So that sales leaders can quickly review an hour-long call in a matter of minutes – ensuring call quality throughout the team.
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Onboarding New Talent
Did you know that the new average time for reps to ramp to productivity has reached 5.3 months?
By enabling sales recording, businesses can quickly decrease this ramp-up time to half. Are you wondering how?
Have you heard the phrase “ Learning on the job”? The answer is simple by creating call playbooks. It is the same as that; new hires can quickly go through previous calls to understand the customer, market, and correct responses and start performing since day one.
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Sales Coaching
The sales call playbooks are an essential tool for any sales business. Remember we spoke about conversation intelligence and how sellers can quickly review and provide feedback with the help of this solution?
Sales leaders can create a playbook of their best calls to help provide sales coaching for new hires and their existing sellers.
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Valuable Resource Creation
We have reached a digital era, where every customer does his/her due diligence before making a purchase. You can help your customers by doing this for them. As per the customer demand, you can create demo videos, testimonials, case studies, and articles to help the scale weigh on your side.
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Deal Intelligence
Sales recording provides a granular view of the entire sales process. So your sales team can keep track of important key points and provide help while the deal is still on the table.
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Market Intelligence
By recording sales calls, you can understand what your customers need and what your competitors are offering. You can get other insights like pricing, features and even know the dynamics of the market.
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Customer Insights
By recording sales calls, you as a business owner can understand your customer’s pain points, questions, and what solution they are looking for. Isn’t that amazing?
Rather than spending money on multiple polls and studies to understand your customers, you can just do that by listening to your customer’s voice through your sales calls.
Now that we understand why sales call recording is essential, let us address another problem from recording sales calls. That is using an apt tool for recording sales calls. Most businesses end up spending money on multiple tools for recording, transcribing and storing the sales calls. A process that is not at all feasible in the long run.
So, what is the solution?
Conversation Intelligence – The Ultimate sales recording tool
Conversation Intelligence is a tool that gives voice to all your customer’s woes and highlights it for you. With the help of the Conversation Intelligence solution, you create content and advertisements that actually resonate with your customers.
Conversation Intelligence enables artificial intelligence and natural language processing to record, transcribe, and analyze daily sales conversations by integrating with the sales stack. It also automatically disseminates the meeting data across teams so that sales reps do not have to manually send out their meeting reports, saving a ton of time.
Conversation Intelligence easily integrates with your current sales stack and disrupts the entire sales process for good. By integrating conversation intelligence with your sales stack, you can automate:
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Note-taking
As we discussed earlier, conversation intelligence records the sales calls and transcribes the notes for you. So you can focus on what is essential, that is, the customer!
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Sales Coaching
Reviewing and providing feedback, as we saw, takes a lot of time. With conversation intelligence, the same task can be completed in a matter of minutes. So that sales leaders can provide sales coaching that is of actual value to the seller in achieving his goal.
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Creating Sales Playbook
With Conversation Intelligence, businesses can create multiple call playbooks. The playbooks can aid in training the new sales hires and decreasing the ramp-up time.
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Automatic task adding on CRM
Conversation Intelligence adds the meeting notes in the CRM task automatically after the call is completed. It does not require any effort from the seller, and he can just move on to his next call.
Even though reasonably new technology, Conversation Intelligence is undoubtedly disrupting the market for all the right reasons. It has the caliber to entirely change the sales process and get insights for the business that holds value for your business. Rather than relying on other companies’ statistics, reports and studies. You can start evaluating your business with the help of a customer’s voice.
Let me list down a few vendors to choose from.
Conversation Intelligence Vendors
Convin became a reality in 2020 when 4 IIT alumni decided to quit their high-paying corporate jobs to focus on their dream of building a comprehensive and affordable conversation intelligence platform. Not just for big players in the market but also small and small mid-market players. The conversation intelligence platform enables sales leaders to review hours and hours of sales conversations at a glance and provide feedback at scale to the entire team.
Users can be onboarded within a day; it is as easy as signing up for Facebook. Convin easily integrates with your customer engagement platforms like email, phone, meetings, Slack, and even other sales tools like Outreach, Salesforce, Hubspot, Freshworks, ZohoCRMs, and Pipedrive to provide seamless data flow of meetings to your preferred reviewing platform.
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Gong
Gong was founded in the year 2015. The patented Gong Revenue Intelligence Platform™ captures and understands every customer interaction, then delivers insights at scale, empowering revenue teams to make decisions based on data instead of opinions.
Over 2,000 innovative companies like Paychex, PayPal, Hubspot, LinkedIn, MuleSoft, Shopify, Slack, SproutSocial, Twilio, and Zillow are already using Gong.
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Chorus
Zoominfo recently acquired chorus to enable comprehensive call recording and analysis for all Zoom’s customers.
Chorus was founded in 2015 and had offices in San Francisco, Tel Aviv, Boston, Toronto, and Salt Lake City.
Chorus’ Conversation Intelligence Platform identifies and helps revenue teams replicate the performance of top-performing reps by analyzing their sales meetings. Customers like Zoom, Mavenlink, Qualtrics, Adobe, TripActions, and GitLab ramp new hires to productivity 30-50% faster and see an increase in quota attainment from 20-100%.
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Wingman
Wingman was founded in the year 2018 by three friends Shruti, Murali, and Srikar. It’s still run under the leadership of these three friends. Wingman automatically joins sales calls, and based on the conversation, cue cards show up to help sales reps with customer objections, questions, and behavior suggestions. It also assists representatives in taking better notes and summarizing calls by allowing them to bookmark key moments during the call in real-time.
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ExecVision
ExecVsion was founded in 2015. It leverages the pattern recognition and human intelligence from ExecVision’s 15 years of insights-based sales coaching and applies it to uncovering actionable insights from customer-facing conversations. It allows organizations to make better decisions, coach and develop their team at scale. It also helps drive behavior change and ultimately generates revenue.
Customers like The Madison Square Garden Company, Intuit, TransUnion, Imperial Supplies, and Zuora have seen a 30% increase in win rates, and onboarding is cut by at least 30%.
ExecVision is a conversation intelligence platform built on a simple, almost inarguable premise: Insights mined from customer interactions are exponentially more valuable when you can translate them into performance improvements in your marketing, support, sales, and product teams.
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Salesloft
Salesloft is an Atlanta-based startup founded in the year 2011. And unlike its competitors, it is a sales management solution that provides sales recording.
Salesloft is the leading sales engagement platform provider that helps sellers and sales teams drive more revenue. The Modern Revenue Workspace™ by Salesloft is the one place for sellers to execute all of their digital selling tasks, communicate with buyers, understand what to do next, and get the coaching and insights they need to win.
Thousands of the world’s most successful sales teams, like those at IBM, Shopify, Square, and Cisco, are customers of Salesloft.
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Outreach
Outreach is a leading B2B sales engagement platform, accelerates revenue growth by optimizing every interaction throughout the customer lifecycle. The platform manages all prospect and customer interactions across email, voice, and social and leverages machine learning to guide reps to take the right actions.
Its customers Cloudera, Glassdoor, Pandora, and Zillow, rely on Outreach to drive predictable and measurable growth, increase efficiency and effectiveness of customer-facing teams, and improve visibility into sales activity and performance. Also, read about ideal intelligence tools and many more informative articles on Best Digital Updates.
