After experiencing a surge in popularity during the Covid-19 pandemic, Zoom has since expanded its portfolio of solutions, entering into the CCaaS and conversational analytics spaces. Zoom IQ for Sales is its first solution in the latter field.
What Is Zoom IQ for Sales?
Zoom IQ for Sales is a conversation intelligence software that listens to sales conversations across the Zoom Meetings and Zoom Contact Center platform to gain meaningful and actionable insights. These insights aim to improve seller performance and customer satisfaction.
In the video below, Josh Dulberger, Head of Product, Data, and AI, at Zoom, talks exclusively with CX Today, discussing the solution in more detail.
As Dulberger suggests, the solution uses cutting-edge AI to highlight particular customer reactions, evaluate selling skills, and isolate possible pain points within the conversation.
While the move is the company’s first official foray into sales automation and analytics software, Dulberger suggests many more to come – as does Zoom’s May 2022 acquisition of bot provider Solvvy.
Such innovations and deals are enabling Zoom to meet impressive revenue projections, with Verified Market Research estimating that its value could grow to a whopping $7.3 billion by 2028.
How Does Zoom IQ for Sales Work?
Zoom IQ for Sales allows users to review metrics, compare performance across the sales team, and pinpoint individual improvement opportunities.
These metrics also help to identify excellent sales calls for reward and recognition, while users can take clips from the recordings and share them as examples of best practice.
For users to start using Zoom IQ, admins must purchase the appropriate licenses and assign Zoom IQ participants. After this, all participating sales personnel will have all their Zoom meetings recorded and sent to the cloud – so long as they provide consent.
Once a meeting is over, the cloud recording gets automatically transcribed and analyzed by Zoom IQ’s powerful statistical algorithms to reveal valuable metrics and analytics.
Then, it is left to managers to review this data and extract insights – which should not prove too difficult, thanks to Zoom IQ’s user-friendly web portal.
Zoom IQ for Sales Features
Here are some of the most eye-catching features of Zoom IQ.
- Organizations can gather data that highlights what most attracts and deters potential customers.
- Sales personnel can improve their presentation skills with insights such as talk-listen ratio, talking speed, patience, use of filler words, sentiment analysis, and more.
- IQ for Sales also automates tasks for sales teams, such as writing up next steps and making risk assessments.
- IQ for Sales tracks the progress of sales deals by stage, size, and teams.
- The technology listens out for mentions of competitors and measures customer sentiment.
- Users can streamline the scheduling and recording of meetings with Zoom IQ’s native integrations with Google Calendar, Office 365, and Exchange.
4 Benefits of Using Zoom IQ for Sales
Potential benefits of harnessing Zoom IQ as an add-on extension to Zoom itself may include:
- Sales Performance Growth
The principal benefit of Zoom IQ for Sales is generating the insights to improve sales performance. These may include uncovering success rates of various sales techniques, emerging customer objections, and successful sales tactics used by the best sellers.
Another excellent example is pinpointing which competitors prospects mention most and understanding why the company is winning or losing against them.
All this information is valuable for maintaining continuous improvement and revenue gains.
- Sales Efficiency Improvements
Zoom IQ for Sales improves seller productivity through automated risk assessments and next step transcriptions. With these tools, sales agents can spend more time engaging with prospects.
- Workstream Consolidation
Closely integrated with Google Calendar, Office 365, and Exchange, Zoom IQ for Sales consolidates workstreams while providing an aggregated view of conversations while presenting new opportunities.
- Enhanced Scalability
With on-demand scalability, businesses can quickly add users as and when required to monitor individual and team sales performance continuously.
Zoom IQ’s intuitive web interface also allows for enhanced data analysis, as users can view and access insights from recordings and transcripts.
Pricing and How to Get Started
The Zoom IQ software extension product adds a $79 per host per month fee to the Pro Zoom Meetings license itself, which is available at $149.90 per year per license.
To get started, users simply sign up for a Zoom account and then add on the IQ option by chatting with one of their experts.
For more insights from the Zoom team regarding its Zoom IQ for Sales solution, read our article: Zoom Launches a Conversational Analytics Solution
