You’ve stumbled across this article for one of three reasons (at least we’re 90% sure)…
- You’re actively looking to add a new tool to your tech stack and someone you trust has either mentioned Abstrakt or real-time call coaching software.
- You’re our competitor and want to know what we’re up to. Hopefully, this post sparks an idea for you.
- You are trying to keep up with tech trends like AI, Machine Learning, and NLP (natural language processing) and stumbled upon the article.
No matter which group you fall into, hopefully, this article helps answer your questions. If not, feel free to chat or email us at [email protected].
What is real-time call coaching software?
Real-time call coaching software helps your team in real-time, just like a co-pilot with unlimited intelligence. This means you can easily replicate your best-performing playbooks, scripts, and reps/agents, without additional manual work.
Your team can get live feedback while actually on the call to help overcome objections or answer questions being asked.
That’s exactly why we say “Hello real-time. Goodbye reactive”. You’re not waiting until after the fact to make a change.
I’ve heard of conversational intelligence software. What’s the difference?
Conversational intelligence software provides data-driven dashboards. This software is reactive but provides great insights regarding call performance.
It’s missing the “real-time” portion. This type of software is purely reactive.
So real-time call coaching software helps teams in REAL-TIME, live on a call. Conversational intelligence is after the fact.
They can work together very nicely in your team’s tech stack, or you have to weigh which is more important.
At the end of the day, if your team doesn’t spend a lot of time on the phone then real-time call coaching software might not be the best solution for you.
This is where a conversational intelligence solution that you can bring in multiple data sources could be more beneficial.
What is the difference between call coaching software and “real-time” software?
If you google “call coaching software” you’ll see a variety of results show up. See the example below.
Real-time software is a newer concept (last few years) and there are other types of call coaching software out there.
You have software that helps your team prepare for calls with an AI-driven coach where they can role-play scenarios and practice.
There are others that are post-call analytics and focus mostly on call center agents.
How does real-time call coaching software work?
We often get asked this, because most people don’t believe this type of software exists.
Utilizing Natural Language Processing (NLP) and Artificial Intelligence (AI), Abstrakt works off your computer’s audio to provide real-time responses while listening to both sides of the conversation.
Being configurable, Abstrakt is built to your specifications when it comes to playbooks, scripts, objection handling, and call feedback forms. However, we’ve analyzed over 5.8 million calls and can have best practices set up for you.
Compared to the rest of the market, Abstrakt’s real-time capabilities are the fastest on the market. Taking about 0.2 seconds to react.
Repository for all of your playbooks, battlecards, scripts, responses & more
Say goodbye to the random google docs, notebooks of call scripts, and other random places you have battlecards and playbooks hiding.
With real-time call coaching software, you can build out your playbooks & scripts so that everything is in one place.
Plus they can be easily edited or downloaded if needed.
Pretty cool, right?
What is Natural Language Processing?
NLP is the branch of AI focused on how computers can process language as humans do. This means it recreates the conversation you’re having in real-time and can also react when prompted (like our recommended responses).
The great thing about Abstrakt utilizing NLP is there is no learning period. The vast amount of calls and data is pulled from one of the largest sources.
Who benefits from using call coaching software?
There are a ton of use cases that you could argue would benefit from real-time call coaching software. But here are our top three. If these sound like you, we highly recommend taking a closer look at what this type of software can do for you.
Teams with New Hires or Turnover
- Training and onboarding are exhausting. Especially when it seems to never end and managers have a bazillion other things on their plate.
- Abstrakt customers have seen over a 67% decrease in ramp time. This is because everything is in one central repository. And reps/agents can get coaching live on every call – which helps their confidence from day one.
Overwhelmed Managers/Leaders
- Everyone is having to do more with less. It’s the nature of the workplace.
- If you’re still listening to call recordings and trying to coach your team on what you think is happening on calls, you’re wasting your time.
- Abstrakt will tell you exactly what calls to listen to and the specific parts of the calls. You can add coaching feedback directly in the system and tie it to a time stamp on the call. This allows leaders to see trends and have discussions with their team on when changes need to be made.
Leaders with Underperforming Teams
- Unfortunately, the world is full of sunshine and rainbows. Sometimes teams continually underperform (with maybe 1 or 2 high performers) and it seems impossible to move the needle.
- That’s exactly what our customers have thought. Until their team started using Abstrakt. Sure, buy-in can take time from seasoned reps, but as a leader, it’s all in how you approach the situation.
- Here is how Abstrakt can help: You will be able to identify any gaps in your current sales process and know exactly where issues occur on the phone with your team. You can also see which objections come up the most and identify any new ones as soon as they come up.
Additionally, here are some other items that you might find useful.
Iron Man has JARVIS: We rely on our cars to automatically brake, and we have SIRI on our phones, so why not have AI-driven software (like JARVIS) to help your team in real-time? The best reps/agents have good days and bad days. Technology is there to guide them and only when they need it the most.
The harsh reality of objection handling: The reality is competitors come up on less than 1% of all calls. No matter how much coaching you do, it’s not going to make them come up more often. Let’s look at the data. Product-related questions come up on about 4% of calls. Plus a mixed bag of a handful of other objections is faced, rounding out the 9% of objections faced, So what are the objections that come up more than 91% of the time regardless of industry, buyer persona, or product? And in this article, we’ll show you how Abstrakt can help.
- How did you get my number?
- I’m in a meeting.
- I’m not the right person/contact.
- I no longer work there.
- Can you call me back?
The problem of call reluctance: Call reluctance, or any reluctance at all, ultimately stems from an individual’s perceived lack of preparation, competence, or confidence to handle an unknown situation or task competently. When we talk with sales leaders, the answer to overcoming call reluctance is to increase the volume of connections. False. The main problem with the strategy of increasing the volume of connections is that it completely ignores human behavioral patterns and the psychology of success and failure.
Who are the players in the market?
AKA… who do we compete against?
This question differs based on the industry, but we’ll name a few companies with similar technology to ours.
Call Center/Insurance World
- Balto
- Observe.ai
- Cresta
B2B SaaS
- Wingman by Clari
- Pickle AI
- Salesken
Although, it’s important to remember that just because companies say they have “real-time” capabilities, it might not be the same type of real-time.
Does every competitor use the same technology?
That’s a big NO. That’s what makes Abstrakt so unique and how we can differentiate based on speed and features.
We built Abstrakt focused on real-time then added some in-depth analytics and insights. Some competitors did the opposite.
Want to compare your options?
Head over to G2 and see how Abstrakt stacks up compared to our competition. Our biggest advantage besides the tech, our customer success team. You’ll see pretty much every review mentions how incredible our team is.
Why Abstrakt
Hopefully, by this point you’ve got a good understanding of what real-time call coaching software is capable of and if it’s right for you.
Now it’s time for our sales pitch on why us… because we always hear “there is other software out there just like you.”
We don’t pretend to be like other software because we’re not.
Abstrakt was initially created to make cold calling suck a little less, but we’ve realized that it’s about giving reps and agents from any industry the tools they need to succeed.
We have SIRI on our phones and navigation in our cars, so why not have it when it comes to calls?
We’ve spent years developing Abstrakt as we knew being the fastest real-time software would make an enormous difference. When you’re on the phone, 0.2 seconds vs. 2 seconds can seem like a lifetime.
Want to see if Abstrakt is right for you?
Ask yourself the following questions:
1) How much time is spent coaching sales teams?
Sales Managers report they often find themselves coaching the same things over and over again. This is not an effective use of their time and the company’s money. That’s where Abstrakt comes in.
2) What is the average quota attainment for B2B sales teams?
Research performed by The Bridge Group shows that only 65% of B2B sales teams hit quota on a consistent basis.
Revenue leaders spent hours and tens of thousands of dollars trying to build repeatable sales motions only to fall short 40% of the time. Often the difference between marking Closed/Won or Closed/Lost can be boiled down to the simplest of mistakes or sales motions.
If the subsequent revenue lost exceeds $1,200 per year per rep, then Abstrakt is for you.
3) Are you only identifying mistakes after the opportunity is lost?
Abstrakt ensures reps are always asking the right questions, hitting on the right stories, and always handling objections correctly.
This is all done by leveraging real-time natural language processing and machine learning. This all happens in REAL-TIME while the rep is on the call. Not after it’s over.
With Abstrakt, every single objection should be handled perfectly.
ROI
If you’ve made it this far, awesome. We’ll be short and to the point.
Here is how you can measure the ROI of Abstrakt (taking you through an example):
- Maybe you nail 3 out of the 5 objections you face, and completely drop the ball on the other two. Let’s just say one out of those two you are able to overcome using real-time call coaching software.
- That is 1 extra meeting a day, 5 extra meetings a week, 20 extra a month.
- Because you use playbooks, your qualification skills are awesome and 80% of my meetings turned into Qualified opps.
- 16 Qualified opportunities per month are being added to your pipeline as a result of your 1 extra successful conversion per day.
- Your close rate on Qualified opps is let’s say 38%.
- That’s 6 new customers over the next 71 days ( average sales cycle) as a result of your 1 extra meeting per day.
- Abstrakt costs (we’ll round to the high side) $100/month or $1,200 per year per user.
- Let’s take 6 deals, times four quarters and that would equal 24 new deals at an ACV of $10,800 (for example)
- That’s $259,200 in first-year revenue on a software spend of $1,200.
Or here is a pretty picture you can look at from our current customers.
In close, we truly hope you learned everything you needed to about real-time call coaching software. If we missed something, don’t be afraid to call us out – [email protected].
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