A few years back, a significant compliance risk was averted with the help of call recording software.
An Account Executive (AE) in the banking industry was selling false commitments on behalf of the bank. And as expected, one call auditor landed on the particular call where the AE had spoken about the products and services with incorrect details.
What are Your Sales Reps Promising on Behalf of Your Company? With Call Recording Software You’ll Know.
Because call recording software was being used by the business, the Account Exec was found guilty, and steps were taken to set a critical example for the rest of the sales professionals in the organization.
The Importance of Call Recording Software
The importance of call recording software is still underestimated. Still, the software’s impact on the business can’t be comprehended without its prolonged application or till it catches a few offenders such as the AE in the above incident.
But let’s not confine our knowledge to compliance and regulations. A call recording tool is much more than that. Let’s deep dive!
What is Call Recording Software for Business?
A sales call recording software is a tool that records sales calls and video conferences over voice over the internet protocol (VoIP) or Public Switched Telephone Network (PSTN).
The tool connects to the meeting and records the call over the internet or via a phone.
The software records call and transcribe calls, stores, shares, and analyzes them.
What are Call Recording Software’s benefits, and why shouldn’t we underestimate its power?
Coaching isn’t a task that needs software or a tool — or so some leaders believe. But without a doubt, you can carry on coaching your reps with higher skill when you use call recording as a guide.
With call recording software you point out the sound of ones voice as they speak, and easily see the behavior of non-listening in the conversation and failure to answer questions asked. Best of all, you don’t need to say a word — you can have your sales rep bring you a list of three to five ways they can improve their communication skills when on a call.
When you add a call recording software tool you will augment and accelerate coaching in your business and make it more productive.
The use of a sales playbook, call recording, automated feedback, and call analysis reports makes the call recording software an asset and an assist — adding instant value to coaching sessions.
You’ll find coaching sessions using call recording software will be beneficial to both you and your reps — and best of all — your coaching and suggestions are immediately measurable.
Why would you want your team to invest time in note-making when the crew can easily invest time in core selling activities?
Call transcriptions from the call recording software cut down the manual work behind making notes and add more quality.
The chances of making duplicate entries and missing information are reduced to a large extent. Every detail is captured and noted with more information.
While the software is busy making notes, the rep can get busy asking quality counter questions to the buyers.
Better follow-up strategy
No one said follow-ups are easy.
It takes approximately eight follow-ups to catch the shark.
Everyone in business knows that a single channel can’t keep up with sales strategy make the cut. The omnichannel approach is a must when it comes to follow-ups.
The real issue is how do you get that kind of data? Who to follow? When to follow? Where to follow? And What to ask?
You need a call recording tool to assist with that kind of data.
The call transcription, client details, call recordings, etc., help you to a great extent in unveiling what clients want. All of the pieces come together to make follow-up more practical and sensible.
Moreover, if you wish to add a pinch of personalization to your follow-ups, you need to invest time in listening to the call recordings.
Better customer service and support
All businesses need customer service and support.
Your customer service department as well as your sales reps are directly involved with the customers. Each team must stay on its toes to maintain the business and company reputation. It’s essential to manage customer and sales calls on a stable platform that stays connected with other teams.
The marketing, product, and sales teams will need to stay in touch with customer calls.
The other side of the software is about service managers coaching users on different soft skills to improve calls and work with the customer service staff to improve customer experience.
Greater compliance and regulation
Like the example above, many industries face the same challenges with sales reps taking incompliant methods and intentionally breaking regulations to meet their ambitious goals.
Despite several rules and regulations by the federal government and organizations, sales professionals have bent them time and again to gain monetary benefits from them.
By the time the scam is uncovered, it’s made enough noise not to hold anyone accountable.
With call recording software, it’s easier to catch hold of such incidents, that too- at the bud stage.
Every call recording software may not offer the call quality measurable metrics, but a few conversation intelligence tools provide both.
Check out why companies should invest in Conversation Intelligence Tools here.
If you aren’t using one with call quality metrics, it may not make much difference today, but eventually, it’ll make you lose a lot of opportunities.
For one, there’s no other way to improve call performance and compare with other team members.
One of the most significant advantages I have witnessed with a call recording tool is getting authentic feedback and insights from prospects and clients, which are hard to find from secondary research.
Prospects spill out major details regarding-
- Industry trends
- Economic drivers
- Challenges and pain points
- Organization secrets
- Product feedback
A call recording software is not a must-have at this point for many organizations, but most of them have started realizing the competitive advantages it brings to the table.
If you’re someone who wants the sales team to make a significant cut this year, you must revisit your thoughts and shoot a proposal over (to the powers that be in your company) to invest in a call recording software.
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