Invoca, a company committed to supporting teams with interaction intelligence, recently revealed a portfolio of new products to support all kinds of teams. The company has experienced incredible growth lately, expanding into verticals like financial services, healthcare, and telecommunications. Invoca even updated its executive leadership team too.
The growth of the Invoca brand draws attention to the rapid development of conversational intelligence as a must-have feature for CX. Increasingly, customer experience, sales, and eCommerce teams are relying more heavily on intelligent tools to understand and adapt to the needs of their customers. It’s no wonder that brands like Invoca are benefitting from the momentum of this evolution in demand.
The Growing Need for Conversation Intelligence
According to Invoca, the pandemic significantly increased customer reliance on conversational intelligence to understand ever-changing market trends. In fact, in 2020, the company achieved a 40% year-over-year increase in expansion bookings, alongside an impressive NPS score of 75.
When discussing the company’s growth, CEO, Gregg Johnson, said that the modern business environment requires revenue teams to keep up with customer needs. If businesses don’t understand the customer’s path to purchase, they could be missing out on loyalty, sales, and growth. Invoca is growing because it can help organisations to focus on the important elements of customer interaction and the things that drive higher revenue.
Conversational intelligence opens the door to endless benefits, for various kinds of companies. For instance:
- In financial services, customer intelligence insights can show companies which products are most popular for their clients. The right solutions can track which kind of customers are most likely to apply for different kinds of accounts, or loans. Customer intelligence also makes it easier to see which roadblocks prevent a customer from working with a company and determine the kind of questions that customers have before making a purchase
- In healthcare, the right intelligence can show teams when they’re more likely to see peaks in calls and bookings, so they can organise schedules accordingly. Conversational intelligence can track sentiment and make it easier for business leaders to see why patients may become frustrated with a clinician or receptionist. The same tools can easily give agents access to patient information, without compromising data privacy
- In the Insurance industry, conversational intelligence may help businesses to determine trending queries or questions that agents need to answer before a customer will subscribe to a product. These tools can also help to create effective self-service solutions for making a claim or help agents find information about a policy faster
Creating Intelligent Experiences for Customers
Customers are still picking up the phone when they need to get support and information from a company, despite the rise of various new communication methods. Fortunately for companies, these conversations with clients can contain crucial information, ideal for accelerating the growth of a brand and the reputation of the company.
However, to truly learn from the discussions they have with clients, companies need the right conversational intelligence system in place. The solution needs to scale with the growth of the business and act as a support system for agents and clients alike.
Used correctly, conversational intelligence can empower teams by giving them quick access to information about a customer in response to a verbal request. The same tools can quickly answer customer queries, create self-service opportunities, and collect useful information about customer preference or sentiment.
Conversational intelligence is the key to stronger CX.
