4 hidden points of sales growth with a personal AI assistant

Successful sales depend on dozens, if not hundreds, of factors. From a quick response to a call and a friendly greeting tone to the ability to identify the true needs of the buyer and offer the best solution. You can learn for years, or you can use convenient tools to easily and quickly improve each subsequent conversation. Watch the webinar broadcast or read the article to learn how to avoid common obstacles to successful sales and accelerate growth.

Sales Department Pain Points

Missed Calls

Of course, you can accept missed calls as an inevitable evil. Just don’t think about the pink elephant ? and the losses each missed call incurs for your company.

If you’ve already thought about it, let’s calculate together how much a missed call costs.

Imagine that your managers miss 20 calls in a week. So, you’ve lost 20 new interested customers. With an average sales conversion rate of 37%, 20 missed calls equate to 7 lost deals. If the average deal value is $400, the total lost profit amounts to $2,800. If your product or service is sold on a subscription basis, and the average customer LTV reaches 18 months, consider that you’ve lost $50,400.

So, 20 missed calls mean $50,400 in lost revenue. And how can you not think about it now?

No way. At Ringostat, we constantly remind both colleagues and clients: every missed call is a very generous gift to a competitor. Can you afford such luxury?

Response Speed

Very patient people calling a company are willing to wait from 5 to 35 seconds until a manager picks up the phone. But there are not many of them. Usually, a person ends the call after three to five rings, without waiting for an answer. So we have another missed call. 

And even if the manager does answer after half a minute, the client is unlikely to be satisfied and in a buying mood. According to Ringostat’s own research, leads that ultimately resulted in a sale were processed 40% faster than lost ones.

Therefore, in our sales department, there is a rule regarding response speed to inquiries: 

We sincerely recommend implementing and adhering to similar rules. 

Quality Control of Conversations

By implementing virtual telephony, companies place great hope on call recordings. And this is indeed a great tool for monitoring and improving service quality. 

However, it does not work like a magic pill. Managers do not become more competent, attentive, or skilled just because calls are recorded. For this to work, the manager must:

• listen to the recordings;
• identify strengths and weaknesses;
• to notice “red flags” during communication and proactively prevent problems;
• to give advice to each manager on improving skills and correcting mistakes.

The problem is that such work requires a lot of time, attention, and detail. Let’s say there are five managers in your team, and you selectively listen to two conversations from each. That means 10 conversations daily. Over a workweek, that adds up to 50. If each conversation lasts about 10 minutes, you’ll need to listen for about 8.3 hours a week. You also need to account for feedback. So overall, it will take about 13 hours. 

Unfortunately, not every manager can allocate as much as 30% of their time. However, selectively listening to conversations always carries the risk of missing something truly important. And the manager simply does not see the full picture. Therefore, recorded conversations usually do not help systematically improve service and do not contribute to sales. 

Can this be addressed?

4 opportunities to improve sales and service

Of course, there is a solution. Ringostat’s virtual telephony has built-in artificial intelligence – your personal assistant for analyzing conversations and improving sales. The AI will perform in a moment the work that a manager would spend over ten hours a week on. AI suggestions will not only save you time but will truly help you sell easier and more. Let’s see how it works.

№1. Transcription of Call Records

Ringostat AI understands all languages and converts them into text. Scanning the text is much easier than listening to the recording. You will immediately notice important key phrases mentioned in the conversation, brand names, etc.

Moreover, specific parts of the conversation can be listened to if needed, in case of any doubts. Click on the relevant phrase in the transcription, and you will instantly hear it in the recording. 

If the company operates in various international markets, a manager who does not speak all the languages but knows English can also easily monitor the communication process — the transcription of conversations is automatically translated into English. Custom solutions are also possible — our artificial intelligence understands 50 languages. For example, for a security company, we tailored the AI so that all analytics occur only in Ukrainian.

Check how well your employees conduct phone conversations.

№2. Brief Summary

Previously, you had to listen to many calls to assess the overall level of competencies and the quality of your team’s service. Now you can spot the so-called “red flags” just by reviewing the call log. A brief summary will be attached to each conversation in the report. Pay special attention only to specific conversations that raise concerns. 

№3. Mood

In the report for each call, you will see the mood of the interlocutors, as well as the overall mood of the conversation. Was the dialogue tense, or was the tone of voice friendly and relaxed? How did the manager respond to the client’s doubts or objections? Did they provide solutions to the problem? Did the client leave satisfied after the conversation? 

Now you have a tool that will help implement world-class service.

№4. Recommendations

After each conversation, the artificial intelligence will provide several tips regarding the next steps. Perhaps it is worth calling back in a week when the client has more free time to arrange a product presentation, or maybe it is time to send a commercial proposal. Use the AI’s advice to bring the next conversation with the client closer to a sale.

Examples and Cases 

The main goal of Ringostat AI is to make your work and the work of your employees easy and productive. Upon your request, we are also ready to develop custom solutions that meet the specific needs of your company. 

For example, one of our clients, a large Ukrainian retailer, evaluates the performance of managers based on a specific checklist: greeting, identifying the customer’s needs, active listening, etc. We have refined our AI so that it automatically and instantly analyzes conversations based on all important parameters.

A consulting company required even more complex and detailed analytics. During conversations, managers follow one of many scenarios depending on various factors. The checklist for evaluating managers’ conversations contained over 40 items. A typical conversation can last even half an hour. Listening to and independently assessing such material was very challenging, but Ringostat AI performs the necessary work in a minute. This significantly simplifies the work of the company’s supervisors ― now they only “manually” analyze those conversations that were particularly complex or require attention.

Conclusions

• Missed calls and long wait times for responses are the most common reasons for customer loss and low sales for the company. Fortunately, this is not difficult to resolve. Ringostat call reports will highlight the main shortcomings in the team’s work and help find solutions for growth.
• It is a bit more challenging to assess the level of service and the competence of managers. This requires listening to a dozen recordings of each specialist’s conversations. Then, recommendations for improvement must be provided. However, this can also be managed thanks to Ringostat AI.
• Ringostat’s artificial intelligence instantly transcribes and translates conversations. There is no need to spend hours listening to recordings. The AI will formulate a concise summary of the conversation so you can quickly draw conclusions about the sales process.
• Evaluate the mood of the conversation, receive advice on further steps for the quickest and most successful sale.