Whether your goal is training your salespeople, improving decision-making, or understanding customer needs, an AI tool can help.

Ultimately, you need to determine which problems are most pertinent to your business. So let’s start with some ideas on how to use AI for sales analytics.

Many large enterprises get lost in numerical data and neglect the valuable qualitative insight that each prospect provides.

That’s exactly where AI analytics helps. The ability to analyze customer interactions and track crucial sales metrics can give you a more comprehensive understanding of your client base.

Here are some ways AI can help:

Sales Call TranscriptionMost businesses lack visibility when it comes to what’s being said on their sales calls. This makes it difficult to analyze call quality.Conversation intelligence provides real-time call transcription, which you can use to record every word that’s said on every sales call, so you never miss any details.For instance, our customers use iovox’s call transcription features to:Through transcript analytics, they can uncover valuable insights at scale and respond immediately.

• Monitor sales calls for compliance
• Understand their customers’ pain points
• Leverage transcripts to optimize training
• Collect useful information for product development

Predictive Analytics & ForecastingAny sales team can benefit from robust analytics tools that help them make more accurate forecasts. Artificial intelligence makes this process easier and more accurate than ever.Not only can AI automate data entry, freeing up time for your agents to make more sales, but it can analyze these data points to forecast future sales trends. This helps you make informed decisions about inventory management and resource allocation.For example, our conversational AI technology analyzes sales calls in bulk and scans the transcripts for specific keywords.Let’s say you’re in the auto industry, and the AI picks up that lots of customers are asking after a specific model. You might ensure that you have enough of this model available.Likewise, our conversation intelligence tool might notice that certain sales channels lead to more conversions, allowing you to reallocate your marketing budget accordingly.

Diagnostic AnalyticsWith diagnostic analytics tools, you can gain valuable insights into customer preferences, marketing and sales performance, and more.For example, the iovox analytics dashboard tracks metrics such as total calls, duration, missed calls, and keywords mentioned.Through reviewing this historical data, an AI sales tool may diagnose why a marketing campaign failed, what complaints customers have about your product, or why certain agents are underperforming.You can use this data to improve your sales scripts, update your product, and get more out of your team.

Sentiment AnalysisAI tools can also analyze customer communications — sales calls, feedback, social media interactions, etc. — to gauge how people feel towards your products and company.For example, our conversational AI sales tool scans transcripts and looks for keywords and phrases that reflect a positive or negative experience. This can help you assess customer satisfaction levels across your entire sales organization.By having this information available in real-time, you can address problems promptly.AI for Lead GenerationAI can help you determine your biggest sales-driving channels, score hot leads, and boost opportunities.Let’s get more specific.

Sales AttributionAI tools track the effectiveness of various marketing channels in driving sales, helping businesses allocate resources more efficiently.For example, it used to be nearly impossible to track where sales calls came from. Now, you can add dynamic numbers to each individual marketing channel, so the AI can easily distinguish and sort through them to determine which channels are working and which aren’t.Additionally, the AI will automatically route calls from various web pages to the most relevant representatives, which decreases lead response times and gets better results.

Lead IdentificationConversational AI identifies leads by analyzing call transcripts for sales engagement patterns (keywords, phrases, inquiries, etc.), helping to streamline the prospecting process.Once our clients know which sales engagement patterns indicate potential customers (and which don’t), they save countless hours following up with uninterested prospects.In addition, you can leverage other iovox tools like WebConnect and Dynamic Numbers to enhance your AI processes. These features allow leads to place calls from your web pages (and track the call data), meaning you’ll have the information you need to determine which callers could potentially convert.

Lead ScoringAI can analyze your customer data and automate lead scoring. It uses factors like customer behavior, demographics, and engagement to help sales teams prioritize hot leads.For instance, our conversational AI can identify keywords in sales calls likely to result in a sale and send trigger-based alerts to each sales rep so hot leads are prioritized.You can set up trigger alerts to flag calls based on phrases like “how much does X cost?” or “What are your payment options?” which indicate high interest.It can also take into account data like call duration, location, or call source, which can also indicate higher levels of interest.

Increasing OpportunitiesSalespeople aren’t always available when people call. This could lead to lots of missed opportunities.AI can help you process missed calls so potential customers aren’t disappointed.A great example of this is how iovox helped Mitchells & Butlers increase their bookings by 27,000 per week.During peak times, their staff struggled to answer customer booking calls which resulted in missed opportunities. By implementing iovox’s automation features, Mitchells & Butlers could capture booking details at all times, offer alternative slots, and send confirmations without any input from their staff.AI to Boost Sales PerformanceLead-gen is the first step in driving sales. But if your sales professionals can’t follow through, it won’t matter.Here’s how AI can boost sales enablement.

TrainingAccurate recordings and transcripts with highlighted keywords serve as crucial real-world examples for your training programs.You can use these sales enablement examples to:Our clients also use iovox as an AI assistant to screen calls for quality problems so they can provide real-time coaching when salespeople are underperforming. You could set up trigger-based alerts to react quickly, use AI to review the transcript, and provide prompt feedback.

• Highlight successful calls: Share transcripts of high-performing calls to demonstrate best practices, effective closing techniques, or successful objection handling.
• Analyze prospect objections: Show recurring objections in transcripts to help each rep anticipate them with stronger responses.
• Contextualize with real examples: Pinpoint moments where calls could have been handled better, and provide constructive feedback using specific examples.

Compliance TrackingLikewise, you can use an AI sales assistant to screen calls for any compliance issues.Our conversational AI system spots keywords or phrases indicating compliance issues and alters triggers when agents go off-script or don’t use statutory phrases.Additionally, you can use AI’s recording and transcription features to acquire:

• Accurate records: Recording calls ensures that all communications, especially those involving contracts, agreements, or disclosures, are documented for legal purposes.
• Proof of consent: Many regulations (e.g., GDPR, CCPA) require proof of informed consent for data collection or other actions. Recorded calls can provide evidence of consent obtained verbally.

Refining Sales ScriptsOnce the AI solution has identified words, phrases, and sales tactics that have the strongest correlation to conversions, you can integrate them into scripts and standardize them for sales calls.You can also develop and refine sales scripts for various call types: follow-up calls, first-time prospect interactions, promotional offers, and upgrading opportunities.

Upselling and Cross-sellingSales reps may often miss opportunities for an upsell or cross-sell. Luckily, an AI solution can automatically screen communication for these opportunities so you never miss out on any. Think of it as an AI sales assistant for your team.For example, one of our customers is a real estate marketplace. A buyer calling about a property might also have a home to sell, need financing, or require moving services. Without capturing and analyzing these conversations, these opportunities are easily overlooked—leading to lost revenue.

3 Other Interesting Use Cases for AI in Sales

Here are some other useful applications of AI that you can leverage to enhance your sales activity:

AutomationAn AI algorithm can automate repetitive tasks such as data entry, scheduling meetings, and sending follow-up emails, allowing sales teams to focus on high-value activities.For example, iovox has helped enterprises manage sales calls by linking call data (sentiment, duration, time, etc.) with their CRM data. By providing a bird’s eye view of prior call interactions, iovox’s API enables your sales professionals to prioritize follow-up calls with the most promising leads first. But an AI assistant can automate far more than sales call data transfer.Pizza Express automated its entire booking program, freeing up its staff and providing valuable customer data to improve its sales strategy and promotional offers.

Customer CommunicationGenerative AI communication tools can facilitate personalized interactions with customers through an AI chatbot and automated messaging system.These customer service tools can help when a sales rep isn’t available. However, we recommend having chatbots guide them toward contact with a human sales rep, especially for higher-priced products or services.Even better, you could implement WebCallBack buttons across your site at times when a sales rep isn’t available. (Our customers have used this to boost leads by 20%!)

Price OptimizationAn AI algorithm can analyze market conditions, competitor pricing, and customer demand to recommend optimal pricing strategies.Dynamic pricing models allow businesses to adjust prices in real time based on changing market factors, enhancing competitiveness in fast-paced markets.

iovox: The AI Sales Tool That Does It All

While many enterprises leverage AI sales tools like chatbots to address customer needs, nothing beats genuine human interactions – and that’s where iovox comes in.

At the heart of our solution lies our call recording and transcriptiontool, which provides valuable customer data to our clients.

Once you’ve got the data, the real fun can begin.

Using our Conversational AItool to analyze the call data enables you to pinpoint customer preferences, understand their needs, tailor your sales strategies, and much more.

However, we don’t just stop at AI – several other features will boost the effectiveness of your sales processes (as well as your customer service):

• WebConnect: Enables customers to connect directly with your team via a simple click on your website, eliminating friction in the sales journey.
• WebCallBack: Allows customers to request a call directly from your team at their convenience, ensuring timely responses and reducing wait times.
• Missed Call Alerts: Notifies your team of missed calls instantly, ensuring no customer inquiry goes unanswered and improving follow-up efficiency.
• API: Track all customer interactions across various channels, including live calls, SMS, email, and chat.
• Dynamic Numbers: Assigns unique phone numbers to specific campaigns or channels, enabling precise tracking and tailored sales engagement with leads based on their source.

We’ve covered AI’s numerous applications and given you a sneak peek into the market’s leading AI sales call platform.

You’re likely quite eager to get started. But before you dive head-first, let us help you get your AI adoption started on the right foot:

4 Essential Sales AI Best PracticesFollow these steps to maximize your AI integration:Create a Clear Action PlanWith the overwhelming amount of AI technology on offer, it’s difficult to hone in on which are most relevant. This leads to a lot of time wasted on integrating unimportant features and generating irrelevant data. When creating your action plan, be sure to:

• Define specific goals for AI integration within your sales process to ensure alignment with overall business objectives.
• Outline measurable KPIs to track progress and success throughout AI adoption so that you can make adjustments as needed.
• Highlight and organize your pre-existing data to ensure each insight your AI tool generates is accurate.

Customize Your AI ToolYou need AI sales tools tailored to your unique use case and customer interactions for maximum effectiveness.A generic tool may provide some benefit but you’ll ultimately miss out on the key insights that a dedicated call tracking, sentiment analysis, or lead scoring tool could provide.That’s why iovox works directly with our customers, to guide them through setup. For example, we helped Logic-Immo with a customized iovox solution for their use case.Using a combination of Dedicated Numbers, iovox API, and WebCallback, Logic-Immo gained valuable quantitative call data to show their clients the quantity and quality of leads their platform helped produce.

Ensure Adequate Data Protection MeasuresEnsuring your data management practices are up to standard is the first step in protecting your customers’ information and preventing legal issues.If customers don’t feel secure in using your product, it’ll undermine their trust and ultimately lead to poor retention rates.Fortunately, iovox implements robust security protocols to protect sensitive customer data while using artificial intelligence technologies in the sale process:

• We help you stay compliant with regulations by using multiple layers of security between customer data and the internet.
• We also use multiple layers of security to limit the risk to customer data and all software changes are logged and audited, so you’ll always have peace of mind.

Maintain a Human TouchBalance automation with personal interactions by ensuring that customers have access to human support when needed. While generative AI solutions are sophisticated, they can still produce generic and robotic responses that disengage your customers.Leads need to feel a connection with your company if they’re going to make a purchase. And they’re not going to connect with an AI chatbot, so focus on using generative AI to enhance your interactions rather than replacing them.

AI is a powerful tool for boosting your sales operations if you know how to implement it correctly. Let’s explore some of the results you can expect when you have iovox to guide you.