Customer Experience
Conversational Analytics Software: Our Top Tools for 2024
Article written by Parvathi Vijayamohan
Content Marketer at SurveySparrow
12 min read
12 June 2024
Customer Experience
Article written by Parvathi Vijayamohan
Content Marketer at SurveySparrow
12 min read
12 June 2024
“Listen closely, and reply well.” A good rule of thumb for any customer conversation! But if it was this easy, why do some businesses nail it while some fail? You guessed it – they have conversational analytics software.
In fact, Gartner had predicted that by 2026, conversational AI within contact centers will reduce agent labor costs by $80 billion. It’s not hard to see why. By partially automating the process with AI, conversational analytics can save costs on sales outreach, agent labour, data analysis, and reduce interaction time by up to a third.
That’s why conversational analytics software is crucial. To help you out, we have shortlisted seven tools that can drastically improve the quality of your sales conversations and customer interactions.
Here’s a breakdown of the top 7 contenders in 2024:
SurveySparrow is a full-fledged survey platform whose core strength lies in data collection and analysis. It has a range of powerful features including survey logic, real-time reports and mobile-friendly forms. So, what makes it one of our top picks for conversational analytics software?
Weak points: SurveySparrow currently lacks an in-built functionality for capturing phone conversations. To solve this, you can integrate it with your current VoIP tool via Zapier.
Pricing: Starts at $7 per month. The only drawback is that CogniVue is not part of the main pricing plan, but we’ll be happy to show you how it works with a free demo.
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DialerHQ is a contact center solution that’s primarily famous for its cloud phoning system. However, it also has a range of features that help improve communication with customers.
Weak points: DialerHQ focuses on call metrics, and does only basic sentiment analysis. So it might not be the best option if your business uses multiple channels.
Pricing: Starting from $24.99 per user per month.
Despite its name, CallRail lets you analyze both forms and calls; you can also club both modules together for a more in-depth analysis. What we really want to talk about though, is their conversational analytics software.
Top features:
Weak points: CallRail focuses on lead attribution and conversion tracking, not in-depth conversation analysis.
Pricing: Pricing starts at $30 / month for the Essentials plan, which includes call tracking, recording, and analytics.
Used by some of the top SaaS companies like Facebook and Paypal, Gong has a range of features for analyzing and optimizing sales conversations. It uses AI to analyze conversations from various sources – including audio and web conferencing platforms like Cisco WebEx, GoTo Meeting and Zoom.
Weak Points: Gong’s focus lies heavily on sales conversations. So if you want a full-fledged analysis of all customer service interactions, this is not the tool for you. Plus, it’s more expensive compared to other tools on this list.
Pricing: Pricing starts at $25 per user per month for the Basic plan, which includes conversation intelligence and analytics.
For sectors that thrive on direct interactions with customers – like consulting, real estate, financial services or event planning – Avoma is an incredibly handy tool. This conversational analytics software helps you capture key customer information before, during, and after meetings.
Weak points: While Avoma offers sentiment analysis, it’s limited. Also, if you find it hard to keep up with highly technical, jargon-filled conversations, unfortunately, so does the AI.
Pricing: Plans start at $25 per user per month for the Basic plan.
While Avoma is a comprehensive software that offers features beyond meeting notes, MeetGeek is more of a stripped-down tool. It focuses on simplifying the workflows that happen after a meeting.
Weak points: MeetGeek lacks advanced conversation analytics like sentiment analysis.
Pricing: Plans start at $25 per user per month for the Basic plan.
If you’re looking for a more reasonable priced alternative to Gong, check out HubSpot Sales Hub. It is a comprehensive platform with a built-in tool for conversation analytics.
Weak points: HubSpot has a reporting and dashboard feature, but you’ll have to purchase that separately. Also, it does not have omnichannel capabilities on the same level as other tools on this list.
Pricing: Starts at $50 per month for the Starter plan, which includes basic sales analytics and integrations.
“Conversational analytics” and “conversational intelligence” are often used interchangeably. And indeed, they both focus on extracting data from conversations. But there are a few key differences.
| Category | Conversational Intelligence | Conversational Analytics |
|---|---|---|
| Definition and Purpose | Processes and manages conversations in real-time. It analyzes the emotional and social context of a conversation, helping your team to better understand its nuances, build trust, and improve relationships. | Analyzes recorded conversations to extract insights. It uses technologies like natural language processing (NLP) and machine learning to analyze speech and text data. The goal is to uncover patterns, trends, and sentiments. |
| Core Functions | Real-time conversation analysis and feedback | Sentiment detection to guide your responses | Communication coaching tools | Training tools for active listening | Post-conversation data analysis | Transcription and keyword extraction | Sentiment analysis and trend identification | Reporting and visualization of CX metrics |
| Applications | Improving a team’s real-time communication skills| Employed in customer service interactions, training, and leadership programs | Analyzing customer service calls, sales conversations and other interactions | Used to improve products, customer service strategies and marketing campaigns |
| Outcomes | Better communication skills, customer interactions, and enhanced emotional intelligence. | Actionable insights from past data, better business decisions, improved business processes. |
| Tools and Tech | Real-time emotion and sentiment analysis | Interactive feedback systems | Communication skill-building modules. | Speech and text analytics | Machine learning models for pattern recognition | Dashboards for visualizing conversation data |
In short:
Conversational intelligence is about using incoming data smartly, while conversational analytics is about using past data to make your processes better. And, there are plenty of tools in the market that can do both. That’s why we created this shortlist.
That wraps up our list of the top conversational analytics tools for 2024.
Now, choosing the right tool depends on your specific needs. You need to consider factors like budget, the types of conversations that you want to analyze, and existing tools that you need to integrate with.
With this guide, you’re well on your way to unlocking the power of conversational insights. Adios!
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