At its Work Transformation Summit event, Zoom announced “Zoom IQ for Sales”, a set of artificial intelligence-based features (primarily semantic understanding) aimed at improving the performance of sales teams.
Concretely, Zoom IQ for Sales analyzes video calls and extracts key information and indicators from them, which would thus help to take measures to earn revenue, explains Josh Dulberger, head of products, data and AI at Zoom.
IQ for Sales reviews video call transcripts using machine learning. He can signal the “Next Step” according to the questions of the customers. Post-meeting metrics also let sales reps know if they’re speaking too fast or using too many filler phrases (words and phrases that don’t add much information).
The software also makes it possible to determine how often the names of one or more competitors are mentioned during a discussion.
According to Zoom, the information extracted by this extension could advance sales teams by giving them more data on their effectiveness in closing deals. More generally, this collected data could also help design better sales strategies and practices.
Zoom IQ may also exchange information with Salesforce. The integration allows Zoom IQ to analyze all calls associated with an ongoing trade. Following a transaction that materializes, he can determine the topics most frequently discussed by the various stakeholders along the pipeline, the duration of each stage of negotiation and the sellers who made the final decision.
Zoom must diversify to revive
Video, of which Zoom is one of the biggest players in the world, has become an essential communication tool for companies, but its use has slowed as employees return to the office.
In this context, and after having praised it, the markets have very harshly sanctioned Zoom. The company was close to $560 per share in October 2020. In mid-March 2022, it fell below the symbolic bar of $100. In a year and a half, Zoom has lost more than 80% of its value.
Zoom therefore has no choice. It must explore new avenues to fuel its growth. Following the launch of a contact center cloud suite in February, IQ for Sales is its new initiative to diversify its range.
The two offers should also mix. A future version of IQ will soon concern Zoom Contact Center, promises Josh Dulberger. It will then be possible to use the in-house AI on each customer interaction, which would allow, for example, to better understand the problems they are facing (or to speed up the reporting of these problems).
One of the big differences with IQ for Sales – which performs call analysis a posteriori – is that contact center AI must be able to analyze conversations in real time in order to advise agents on the fly (and tell them, for example, if they are speaking too quickly or if they are not giving the customer enough time to express oneself).
Released in early April 2022, Zoom IQ for Sales is a Zoom extension sold for $79 per user. Support for French should arrive later this year.
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