Conversational Intelligence: Concepts, Importance & Tools

“Machine intelligence is the last invention that humanity will ever need to make.” 

~ Nick Bostrom

 

What is the thing that differentiates animals from human beings? It is our ability to talk and make conversations to develop our social circle. Talking with your work colleague or a friend is so simple and we do not even pay attention to such things.

 

But in reality these conversations can change someone’s whole outlook. These conversations can also trigger emotions in people. Every conversation has a meaning and it is upto us to figure out the essence.

 

It is not like animals cannot speak or convey their feelings. They have their own medium or connection like sounds, gestures with which they can explore and navigate. Conversational Intelligence is hardwired into every being. We can communicate with each other using words. In this blog you will learn about Conversational Intelligence.

 

Also Read | Conversational AI

 

 

Concept of Conversational Intelligence

 

What comes to your mind when you hear the word Conversational Intelligence? Many people will say Chatbots, Virtual Assistants or even Siri. Why? Because they provide valuable information to you whenever you want.

 

In reality, Conversational Intelligence is much wider than these assistants. There is a lot more that you should know. It is a type of Machine Learning tool. But it is not limited to it. Now with the advent of technology, Conversational Intelligence has adapted AI and modern intelligence in itself. 

 

With it, we can easily process language and interpret everything faster. In other words, Conversational Intelligence is the best friend of every company. Every organization needs to organize, plan, regroup, analyze and interpret multiple different conversations. 

 

These conversations are with clients, customers and even the staff. The medium can be phone calls, chatbots, chats with executives or even email. For example- Think about the conversations you have with your customer sales executive if your order gets delayed due to some reason.

 

Or think about call centers that are continuously engaged in conversations be it day or night. These chats can be with existing customers or potential customers. The main question is how to analyze these conversations? How to extract the relevant information from them?

 

All these conversations contain meaningful insights. They will inform you about the tastes of customers, their needs, and even their moods. You also get to know about the complaints that clients can have regarding your service.

 

But it becomes very difficult for humans to extract information from such vast data. Therefore, human analysts cannot perform this job. Even if they do, they will commit mistakes and omissions. Because of this, Conversational Intelligence comes into picture.

 

Conversational Intelligence adapted along with AI has the potential and efficiency to outperform such tasks. You can analyze hours of chats, phone calls, textings, messages, emails and in fact any source of communication with Conversational Intelligence tools.

 

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Importance of Conversational Intelligence

 

Conversational Intelligence helps the companies to perform interpretation tasks with full efficiency. It will support the sales rep of the firm to take relevant actions for scaling and bringing new customers. 

 

Some of the reasons why Conversational Intelligence is important for the sales rep and firms are:

 

1. It helps the firms to stay productive and efficient throughout the communication process.

 

2. It supports active listening. It means that sales and customer executives can better understand the prospects they are dealing with.

 

3. It is great for implementing training and applying it later on.

 

4. It ensures that the sales rep sticks to their original script. How, when and what to speak is important while dealing with clients.

 

5. Firms can use the softwares of Conversational Intelligence to the best of their advantage.

 

“Emotions are essential parts of human intelligence. Without emotional intelligence, Artificial Intelligence will remain incomplete.”

― Amit Ray

 

It is rightly said that emotions are essential parts of human intelligence. By using Conversational Intelligence tools we can easily convey our emotions and feelings with the person on the other side. 

 

We can lodge our complaints, get help and even ask any product/service related questions to the firm. These softwares not only help the firms to better understand the customer but they also help the clients, as their issues are better understood.

 

Conversational Intelligence has the ability to make the sales and marketing team of your organization more efficient and productive. It also helps in streamlining the whole communication process. It becomes much easier to collect data, contact info and deliver the relevant information to your target audience.

 

Ways to Optimize Conversational Intelligence in your Firm

 

In order to get the most out of Conversational Intelligence, you need to understand which software and technology is the best. You need to learn about the advantages and limitations of the software.

 

Given below are some tips with which you can optimize Conversational Intelligence in your firm:

 

1. Before using or adapting conversational intelligence technique into the workflow or any process, you should know why you need it. You must know who will use it. 

 

If you have the answers to these two questions, then with conversational intelligence you can easily target your audience and align this technique with your objectives.
 

2. Never force your customers or clients to interact with Artificial Intelligence. It should not become a barrier or a burden for them. They should learn to get along with the techniques that you use in business. Easy accessibility for customers will bring them towards your business.

 

3. Never ignore the data given by the conversational intelligence tools. Whenever the user interacts with any system, data is generated. This data helps in analysis later on. Moreover, this data is used for improving the efficiency of processes, understanding customer demands and complaints etc.

 

Also Read | Conversational Marketing

 

 

Conversational Intelligence Tools Worth Investing

 

Given below are some popular Conversational Intelligence Tools that are worth investing in, if you are planning to adapt it in your business.

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Conversational Intelligence Tools

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1. Jiminny

 

The main purpose of Jiminny is offering sales coaching. It charges $100 a month per agent. You need agent commitment. It supports many languages like Russian, English, Chinese and even European.

 

This software helps to analyze the conversations of customers. Real time calls and business meetings can be monitored and analyzed using Jiminny. It automates with the Customer Resource Management module of the firm.

 

It is one of the best platforms to increase your sales and to increase the efficiency of your sales rep. 

 

With Jiminny you can track your customers throughout the sales cycle and assist them as well as the whole sales team whenever they go wrong.

 

 

2. CallHippo Coach

 

The main key features of CallHippo Coach are- Call Transcription, In depth analytics, Moment analysis, Feedback Manager, Customization and Exhaustive data filters. It supports English and all the major accents.

 

The price point of this tool is based on the usage type i.e. you can call their helpline and know about the prices.

 

 

3. Enthu

 

It offers 100% call monitoring along with agent evaluation and personalized coaching. It supports both English and Spanish languages. No commitment is required. The fee charged is $45 a month per agent. 

 

You also get multiple customizable plans which you can modify according to the needs of your business. Customers are easily adapted to Enthu. It is one of the best conversational intelligence tools.

 

It offers a quality call hypothesis so that no one has to listen to any random or vague calls. It is one of the easiest ways to shift to conversational intelligence for your organization.

 

 

4. Sales Loft

 

It is a platform that provides services of tracking, coach, analyzing etc. It supports the English Language. Prices of this tool are customizable. You can choose the services you want and pay accordingly.

 

Some of the key features of this tool are - Call Recording, Call Transcribers, Retaining the agents, creating playlists and Artificial Intelligence based analysis.

 

Also Read | Types of Communication Technology

 

5. Gong

 

The primary use of Gong is Revenue Intelligence. It charges $1000 p.a and per agent. You need an annual commitment of at least 3 agents in this. It supports the English language.

 

Gong is a Unicorn company i.e. it has a valuation of $1 Billion. It helps the revenue teams in realizing their full potential. Since the main focus of Gong is revenue intelligence, it helps the business get insights based on customer interactions.

 

It supports the team to make data driven decisions instead of opinion based. The price range of Gong is higher as compared to other software tools but the overall services are also much better.

 

 

6. Observe.ai

 

Contact Centre Performance is the main area of focus of Observe.ai. Price starts from $80 and is customizable. It supports both English and Spanish languages. It is agent enabled.

 

With this tool you can manage 100% calls without any omission or risk. You can also coach and train teams. There will be complete transparency in all the customer related operations with Observe.ai.

 

 

7. Refract

 

Just like Gong, the main area of focus is Revenue Intelligence. Prices are easily customizable based on the business requirements. It supports the English language.

 

It helps both the sales team and the sales professionals to survive in the competitive market as the software offers complete analysis of customer interactions. You can easily automate it with CRM.

 

 

8. CallMiner

 

The main area of focus of CallMiner is Enterprise contact centers. The pricing is charged as per the usage time. Languages such as English, Arabic and some European one’s are supported.

 

It is based on the “Software as a Service” model along with Speech Intelligence softwares. CallMiner uses both AI and machine learning for managing the customer interactions. The analysis done by CallMiner offers an effective, usable and optimal analytics solution for the organization.

 

 

9. Chorus

 

It has a primary focus on sales intelligence. Prices can be modified based on the requirements of business. There is a commitment involved. It supports German, Dutch, French, Spanish as well as Portuguese languages.

 

It is one of the major dominators in the marketplace for Conversational Intelligence space. Being a part of “Zoominfo” group, it mostly caters to large organizations. It has the ability to track video meetings as well.

 

Also Read | Best 13 Saas Tools in 2022

 

Conversational Intelligence is a potent and powerful software that helps the organizations understand their customers better. Values, sentiments, moods, demands as well as customer intent can be easily identified using this technique.

 

Currently it is being used by many call centers to bring innovations and improve the performance. It is a technique that can drive the business enterprise towards improvement.