Conversations are a highly fundamental aspect of sales that deserves more attention. Finding the value in those conversations and extracting meaningful takeaways from interaction determines how effective sales meetings are and the quality of the deals you attract. 

Conversational value is one way to highlight the meaningful elements of a conversation, allowing for the precise measurement and targeting of value in customer conversations. Conversational value positively impacts the efficacy of a conversation while facilitating more effective decision-making and improving discussion insights. By improving sales meeting efficiency with better quality conversations, you convert insights into improved business value, becoming a more consistent and profitable company along the way. 

Conversational Value Improves the Quality of Your Customer Conversations 

‍

Quality conversations boost the effectiveness of sales meetings. 

To understand how to extract the best quality and most important insights from your conversations, it’s important to understand what conversational value means and how to find it. Conversational value is defined as the likelihood that consumers will talk about purchases or sales within social interactions. The higher the value, the better the conversational value will be, meaning your products or services are being talked about among your customers. 

However, conversational value doesn’t just apply to buying and selling. It also applies to productivity, establishing the most important points of a conversation within any setting, whether in sales meetings or your personal life. Conversational insights, by extension, are the measurables that show the kind of value you’re getting from your conversations. These insights go past keywords and all surface-level aspects of marketing, taking the guesswork out of it and giving businesses deeper insights into what customers really want. Using artificial intelligence, natural language processing (NLP) technology, and machine learning, businesses can analyze every customer insight and modify their respective approaches towards sales meetings, being more straightforward with their conversations.

Why Having More Valuable Conversations is Vital 

‍

The more valuable the conversation, the more customer engagements you’re likely to secure

Establishing the conversational value and extracting valuable insights from those conversations details the purpose behind a conversation while addressing all unique pain points that customers have. Many businesses are guilty of broadcasting to their customers rather than listening to them, leading to:

• Unconstructive sales meetings where meeting objectives are unclear
• A lack of compromise between all parties involved. 
• Customers’ needs being ignored or overlooked
• Less than favorable business outcomes that hamper productivity and business reputation. 
  

The fact is that a lot of businesses are measuring customer engagement, but have no clue what it is nor are they aware of the key factors to look for. By garnering AI takeaways and using conversational insights, businesses will have a better understanding of how to measure the quality of their sales meetings and boost close rates by reducing the effort on the part of the customer/client and improving business outcomes. Also, by improving conversational value, you boost customer perceived value, which is the customer’s perception of products/services, particularly when compared to a competitor’s product. The better the conversation is, the more likely the customer is willing to engage with your product or service, potentially leading to a better deal and brand loyalty. It’s easier to understand consumer behaviors and habits when you have AI takeaways to analyze the finer points of what consumers need, making sales meetings more effective. 

Using an AI-based conversational assistant solution helps to extract the most important information from remote meetings and sales interactions, providing software for automated note-taking and extracting key insights. But using conversational assistants, you garner a better extraction of conversational insights while also creating action items for remote sales meetings. AI-based conversational assistants optimize customer relationship management (CRM) for businesses. Sales teams spend less than 20% of their time examining CRM insights. Having AI-based conversational assistants to aid with this important aspect of sales help professionals to seek insights that help best improve their chances of closing deals with their consumers, making consistent and data-driven decisions. 

What are the Benefits of Prioritizing Conversational Value? 

Focusing on Value

By focusing on the value of conversations for sales meetings, it’s easier to direct sales efforts to the appropriate channels and to guide customers through the customer journey. By using conversational AI, businesses can best develop their data sets and algorithms to analyze what’s being said in sales meetings. Conversational AI creates customer intent data that help businesses to understand how customers talk and what their biggest points of emphasis are, driving outcomes that are beneficial to the business. 

Extracting Key Takeaways

By transcribing meetings, extracting AI takeaways, and automating data entry, businesses can recap what matters and get useful feedback on engagement. The takeaways, in particular, provide more opportunities for sales teams to follow up with customers in meetings, driving home the more important aspects of conversations while garnering engagement signals to improve conversational value. As a result, businesses improve their productivity and maximize their meetings, so additional ones don’t have to be called to repeat the same points.

Customer Insights are Crucial

Every customer insight is crucial to boosting the quality of sales meetings, and conversational AI best gauges these insights to help businesses improve their close rates. Versational provides a conversational assistant solution to ensure you reap the improved business value from boosting your conversational value. Try our product for free today.