Home Security Company Boosts Sales Conversion by Identifying Closed-Won Conversation Patterns

Author:

Level AI Team

Last updated:

March 1 2023

Blog /Artificial Intelligence / Home Security Company Boosts Sales Conversion by Identifying Closed-Won Conversation Patterns

Inbound phone calls are a key sales channel for a smart home security client committed to providing an excellent customer experience, with the ultimate goal of converting new customers, improving retention, and increasing upsells. With revenue targets in sight, the client in the use case below wanted to understand which conversation topics and categories resulted in higher conversion rates. That way, they could provide underperforming agents with the right strategic coaching to help them reach their growth targets.

The Challenge

The client began providing the AI with phrases at different stages of the sales cycle, such as “what got you to reach out today?” and “how familiar are you with home security?” for Discovery, and “when are you available for installation?” and “how would you like to pay for the deposit?” for Closing. As the system identified these speech patterns, it began to group customer conversations into the tagged funnel stages.

In seeing only a slight drop off in the number of customers who moved from Value Building and Price Discussed to Closing — and knowing that they competitively priced — the client deduced that value delivery during the conversation was vital in driving conversion and revenue. However, they needed more data to prove the connection between value building and closing.

The Analysis

Since the 16.2% conversation rate was the average, the client proceeded to query and rank each team’s closing percentage and found that one team was performing a few points below the others.

With this performance breakdown, the client further leveraged the depth of conversational data within Level AI to analyze how each team built value during customer calls. This analysis showed a distinct correlation between team performance and value-building. The two teams with the highest closing rates were also the teams that were more focused on communicating product value. The analysis also identified the smart central control panel technology as the most effective value builder.

The Result

Based on the results of this analysis, the client proceeded to supplement their overall sales training on effectively conveying the product value, especially the smart central control system. Along with additional targeted coaching sessions for team 3 based on the conversation pattern identified in the leading teams, the team members ramped up their efforts and successfully achieved their sales target.

For more details about this use case and how four other companies use Level AI to uncover hidden insights with contact center analytics, download the e-book,From Insights to Action: Uncover Hidden Insights and Transform Contact Center Operations.