How to choose the right conversation analytics software for your business

Choosing the right conversation analytics software is one of the most important aspects of a successful marketing strategy.

To gain a deeper understanding of your customers, learn what drives conversions, and receive actionable insights to enhance your marketing, conversation analytics software is the ideal solution.

In this article, we’ll explore what conversation analytics software is, what key features you should look for in a platform, and how a provider like Mediahawk offers the perfect system.

Understanding conversation analytics software

Conversation analytics software – also known as speech analytics software – is one of the most effective ways to drive leads and sales – using detailed insights from phone call conversations.

Conversation analytics is a process that involves analysing the content, context, intent, sentiment, and other aspects of conversations. This process uncovers actionable insights that help improve customer experiences, enhance service quality, and enable organisations to make more informed business decisions.

Powerful conversation analytics software quickly processes data from conversations, transcribes every customer call, and picks up important details mentioned during the conversation. This enables you to gather insights that help you understand more about your customers’ needs and preferences. It also gives you a more accurate picture of how your marketing campaigns drive leads, conversions, and revenue.

Some conversation analytics platforms provide AI-driven capabilities that take your insights a step further, with data on details such as the reason for the call, purchase intent, and customer pain points

Conversation analytics software is often a feature within call tracking software, or a customer relationship management (CRM) system. Where a system like call tracking focuses on monitoring and tracking phone calls, conversation analytics software aims to provide more granular insights from the phone conversations themselves, on both a micro and macro level.

By analysing conversations between your business and customers, you can manage relationships more effectively – gaining insights on how to engage, guide, and inform them to ensure a successful experience.

Key features to look for in conversation analytics software

When selecting the best conversation analytics software for your business, there are some essential features to look for that will give you the insights you need to give your marketing strategies a competitive edge. Here are the key capabilities to consider:

1. Call tracking and caller data

As mentioned, a robust conversation analytics solution should be included in your advanced call tracking platform for the most comprehensive insights for your marketing.

For instance, with each interaction, you’ll be able to answer questions such as:

• Who answered the call?
• What was the purpose of the call?
• Did the caller achieve their desired outcome?
• Was this a sales-related enquiry?
• Were contact details collected for follow-up?

Call tracking software will show which marketing activities and channels your calls are coming from, and the detailed insights from conversation analytics will reveal the why and how – as well as providing you with actionable data that you can use to improve call outcomes.

Together, these systems provide the ultimate weapon in your marketing arsenal for monitoring, analysing, and optimising customer calls.

2. Outcome and action tracking

Tracking call outcomes is a critical feature for any conversation analytics software. Unlike sentiment analysis tools that focus solely on tone and emotions, tracking call outcomes provides more measurable and actionable data.

For example, Mediahawk captures key details such as:

• Was a follow-up meeting or call scheduled?
• Did the call result in a new enquiry or sale?
• Were specific customer needs addressed?

This approach ensures your team focuses on concrete outcomes to improve operational efficiency and tailor your services to meet customer expectations – creating a better customer experience and boosting loyalty.

3. Real-time insights and custom reporting

Having access to real-time data is invaluable in marketing, allowing you to effectively spot opportunities immediately, and take advantage of customer trends and behaviours.

Conversation analytics software provides immediate insights and detailed reports that enable you to adapt quickly to emerging trends. For example, Mediahawk’s real-time reporting capabilities allow you to create customised dashboards that clearly display the metrics that matter – such as the number of calls, who answered, the channels that generated the call, the visitor-to-call ration, and more. You’ll more efficiently identify key insights from customer calls, then take the right actions to drive leads and sales.

Whether you need to track call outcomes, monitor campaign performance, or evaluate customer satisfaction, features like Parameter Connect, for instance, will keep you focused on what matters most.

Why Mediahawk is an ideal choice for conversation analytics

When it comes to choosing the right conversation analytics software, Mediahawk stands out as an industry leader for businesses of all sizes. Here’s some of the many reasons why:

• Accurate transcription and categorisation: Speech recognition technology converts recorded calls into text, which is then analysed for keywords, phrases, and patterns. This allows you to categorise calls effectively, uncover valuable leads, and identify trends critical to your business.
• AI-powered insights: Leverage advanced AI algorithms to extract detailed insights from transcribed calls. Whether you need to evaluate call outcomes or identify trends, Mediahawk provides clear and actionable answers tailored to your specific questions.
• Actionable reporting: With detailed dashboards and intuitive reports, Mediahawk presents a complete picture of your customer interactions. Easily access the data you need to refine marketing strategies and improve business outcomes.
• Strategic alignment with business objectives: Mediahawk adapts seamlessly to your business needs, with the support of a dedicated Client Excellence team. From capturing meaningful insights to creating custom dashboards and reports, you’re equipped with the tools you need to optimise customer interactions and drive significant results.

Pushing your business forward with conversation analytics

Choosing the right conversation analytics software is vital to the success of your business.

A comprehensive platform like Mediahawk provides data that transforms customer conversations into actionable insights – enabling you to improve the effectiveness of your marketing strategy.

Unlock valuable insights that improve customer interactions and drive growth for your business. Get a demo from Mediahawk today.