A major bank was facing a puzzling problem: their customer satisfaction scores were plummeting, but they couldn’t pinpoint the reason. In a bid to understand what was happening, they decided to try a Conversation Intelligence (CI) software.
CI software is like a voice recorder with a brain. It listens to customer support calls and analyzes the conversations to identify patterns and trends. In this case, the CI software acted like a detective, sifting through countless calls until it found a recurring theme: customers were confused about a new online banking feature.
This discovery was a breakthrough. The bank now knew exactly what was causing customer frustration. They were able to take two key steps to address the issue:
- Targeted Training: They used the insights from the CI software to develop specific training programs for their customer support representatives. This training ensured the sales reps were well-equipped to explain the new feature clearly and address any customer concerns.
- Improved User Interface: Armed with the knowledge of what was confusing customers, the bank’s developers went back and reworked the online banking feature. They made the interface more intuitive and easier to navigate.
The result? Customer satisfaction scores went up significantly. This story shows how Conversation Intelligence software can be a valuable tool for businesses. It can help them understand their customers better, identify areas for improvement, and ultimately, provide a better customer experience.
Table of Contents
What exactly is a Conversational Intelligence Software (CIS)
Conversational Intelligence Software (CIS) is a sophisticated application designed to facilitate and enhance communication between humans and computers by using advanced technologies like natural language processing (NLP), machine learning (ML), and artificial intelligence (AI). It aims to understand, interpret, and respond to human language in a way that is both meaningful and contextually appropriate.
What are the Applications of Conversational Intelligence Software:
- Virtual Assistants: Personal assistants like Siri, Alexa, and Google Assistant use CIS to interact with users, answer questions, and perform tasks.
- Customer Support: Automated chatbots and support agents provide 24/7 customer service, handling inquiries and troubleshooting issues.
- Sales and Marketing: CIS can engage potential customers, answer product queries, and guide them through the sales process.
- Healthcare: Virtual health assistants can provide medical information, help with appointment scheduling, and offer mental health support.
- Human Resource: AI can screen resumes, schedule interviews, conduct initial interview rounds through chatbots and even recruit employees.
Top Conversation Intelligence Software Solutions
| Aspect | Gong | Salesforce Sales Cloud | Avoma |
| Core Strength | Revenue Intelligence | Comprehensive CRM Platform | AI Meeting and Coaching Assistant |
| Key Features | Note-taking, call snippets, CRM integration | Predictive analytics, custom apps, extensive integrations | Transcription, summarization, collaboration, follow-up |
| Notable Users | Indeed, Shopify, Trimble, Fireblocks, LinkedIn | Spotify, Meesho, Heathrow Airport, Mahindra & Mahindra | HubSpot, Zendesk, Compass, Gong.io, Miro |
| Unique Insights | AI-driven sales insights | Highly customizable, extensive ecosystem | meeting management and summarization with practical feedback |
| Pricing | ~$5,000 onwards/user/year (custom pricing) | $25-$500/user/month | Free, $19-$129/user/month, custom pricing |
| Sales Optimization | Yes | Yes | No |
| Customer Support | Email, phone, chat | Email, phone, chat, community forums | Email, chat |
| AI Capabilities | Advanced | Basic | Basic |
| Customization | Limited | Extensive | Limited |
Gong: Revolutionizing Revenue Intelligence
Specifically known for its focus on revenue intelligence, its core strength lies in recording and analyzing sales calls to identify key moments that can help salespeople close deals faster. It uses AI to pinpoint winning communication patterns, objections raised by customers, and ideal sales rep behaviors.
Key features of Gong –
- It can automatically take notes from the phone calls and summarize it.
- It can share call snippets with team members and clients.
- It integrates with Customer Relationship Management (crm) easily and extensively.
Notable users of Gong-
- Indeed: The world’s #1 job site uses Gong for global sales optimization.
- Shopify: E-commerce platform leveraging Gong for sales insights.
- Hearst Newspapers: Improved their win rate by nearly one-third.
- Trimble: Reduced customer deal cycle time for its AECO software sales.
- Fireblocks: Increased deal capacity per sales rep by 20%.
- LinkedIn: achieves revenue success with gong.
Check out their customer stories here.
What is the Pricing of Gong
Additional Costs:
Gong usually charges $5,000 as a Platform Subscription (Base price) Other costs include $7,500 for Professional Services (Customer support and training costs)
Moreover, Gong.io charges for 3 years upfront for most companies. This could be a big red flag for companies that need more flexible payment terms like half-yearly, quarterly or monthly. For a detailed overview click here.
Salesforce Sales Cloud: The Comprehensive CRM Platform
Salesforce Sales Cloud is the complete platform for Salesblazers, our community of sellers, sales leaders, and sales operations professionals, to grow sales and increase productivity. Its a customer relationship management (CRM) platform, kind of like a digital toolbox for sales teams.
Key features of Salesforce
- Einstein AI – yes the AI used in salesforce is called Einstein AI and it can do Predictive analytics, lead scoring, opportunity insights and more.
- Lightning App Builder: Drag-and-drop interface to quickly build custom apps. this Enables businesses to tailor the platform to their specific needs.
- AppExchange: The leading enterprise cloud marketplace offers thousands of apps and integrations.
- Customizable Dashboards & Reports: Highly customizable reporting tools to track key metrics and KPIs. Real-time data insights enable better decision-making.
- Mobile app access: unlike some of the CRM platforms, this one has a very user friendly mobile phone app for quick handling.
Notable users of Salesforce
- Spotify: By using Sales Cloud to manage their advertising sales process, Spotify reportedly increased their conversion rate by a mile.
- Meesho, an Indian e-commerce platform: Sales Cloud helped Meesho reduce their lead nurturing, allowing them to convert leads into customers much faster.
- Heathrow airport – personalization helped boost Heathrow’s digital revenue by 30%.
- Mahindra: Mahindra & Mahindra has united 18,000+ dealership users and 400+ call center agents on a single platform, enabling them to deliver connected customer experiences.
Check out their customer stories here.
What is the Pricing of Salesforce
The high price of Sales Cloud can be a barrier for small businesses, its extensive features can sometimes require expert guidance, and its deep customization often necessitates specialized knowledge or hiring skilled developers. Although it’s proven to be amazing for enterprises. For a detailed overview click here.
Avoma: The AI Meeting and Coaching Assistant
Avoma is an end-to-end AI Meeting and Coaching Assistant that automatically transcribes, summarizes, and analyzes every meeting to provide actionable insights, human-like good AI-generated notes, coaching recommendations, and more.
Key features of Avoma
- Avoca helps you schedule meetings, create and share agendas, and take notes during the meeting. It also automatically records meetings and transcribes them for you.
- It allows you to collaborate with colleagues on notes, recordings, and action items. This can help to ensure that everyone is on the same page and that no important information is lost.
- Furthermore, it helps you to follow up on meetings by automatically sending out action items and next steps. It can also integrate with other CRM and productivity tools to streamline your workflow.
Notable users of Avoma
- HubSpot – A leading CRM platform.
- Zendesk – A customer service software company.
- Compass – A real estate technology company.
- Gong.io – A revenue intelligence platform.
- Miro – An online collaborative whiteboard platform
It seamlessly integrates itself with google meet, Microsoft teams, salesforce etc.
To check all of its possible integrations click here.
What is the Pricing of Avoma
To get a detailed view of Avoma’s pricing click here.
