Zoom Video Communications announced the availability of its new Zoom IQ for Sales conversational intelligence add-on for Zoom Meetings. Zoom Phone support for Zoom IQ is in development.
“Zoom IQ for Sales analyzes customer interactions to surface key insights, actions, and content from sales meetings. Sales leaders can also use this data to help make better-informed management decisions regarding their sales teams,” blogged UCaaS Product Marketing Manager Theresa Larkin. “With actionable insights based on proven sales strategies and a wealth of data, organizations can streamline the new sales rep onboarding process, create a modern sales methodology, and further develop their sales teams.”
Zoom describes Zoom IQ for Sales as its “First Step in Conversational Intelligence.” The service is “tightly integrated” with Salesforce, Google Calendar, Office 365, and Exchange. Insights include
- Engaging Questions – Analyzes questions posed to determine the frequency with which customers respond to queries.
- Longest Spiel – Identifies the longest monologue to help reps hone their pitches and avoid monologues.
- Next Steps – Assesses whether clear next steps are outlined during the meeting.
- Patience – Determines whether reps wait for a response after asking a question.
- Talk-Listen Ratios – Analyzes whether there is a balance between lead speaker talk time and time granted to others.
- Competitor and Feature Mentions – Tags competitors and product features so reps, competitive analysts, and product teams can drill into prospect concerns, competitive statements, and potential gaps in the product.
AI provides a set of sentiment and engagement scores that assist with deal risk and health assessments. Other features include transcription highlights, filler word frequency, and talk speed.
Post-deal analytics include which topics arose most frequently, time spent in each stage, and which negotiators made the final purchasing decision. General Deal analytics include the number of conversations per deal and the duration of conversations per deal.
Zoom IQ supports a video snippets library of best practices exemplars. Snippets can be used for initial training or for reviewing how to handle specific objections, present the value of various products, or position across target verticals.
“Zoom has made strategic investments in homegrown speech recognition technologies and recruited a world-class team to produce high-fidelity transcription services that are a backbone for products like Zoom IQ…We’re developing domain-specific NLU (natural language understanding) using few-shot models to build features that will be more reliable and valuable to our users,” said Josh Dulberger, Zoom’s head of product, data, and AI. “Sales teams…want to focus on the customer, and managing the engagement rather than taking notes, but also so they can review their calls to pick up nuances, easily identify next steps, or solicit some guidance from a colleague. Managers and sales leaders can’t sit in on every call but want to understand the selling climate, when to coach, and which reps are finding the right message.”
Zoom IQ for Sales places Zoom in competition with many of its partners, including Salesloft, Outreach, Chorus, and Gong.
TechCrunch Senior Report Kyle Wiggers cautioned buyers about Zoom’s AI capabilities: “The jury’s out on the accuracy of Zoom’s algorithms, particularly given the company’s history of deploying flawed AI. Sentiment analysis algorithms are especially prone to gender and race bias, and not every salesperson will necessarily agree with how Zoom measures engagement.”
“Zoom is almost certainly feeling the pressure from investors to establish new lines of revenue,” continued Wiggers. “While the company’s earnings soared during the pandemic, guidance is down as customers begin to shift to hybrid and in-office work arrangements less reliant on videoconferencing.”
Zoom IQ for Sales is priced at $79 per month per seat.
“Half a million businesses choose Zoom and rely on it for internal and external conversations,” said Dulberger. “The Zoom platform already has a strong foundation in this area with features such as transcription, recordings, and highlights. This also gives us an opportunity to expand this type of functionality across the Zoom platform such as Zoom Contact Center and within our meetings and events solutions to help presenters pace their speech, take notes, capture action items or employ specific tactics.”
Zoom Events, Zoom’s platform for virtual and hybrid shows, is adding a backstage feature that lets panelists, speakers, and production crews meet before, during, and after events. During the session, support staff can view the webinar feed, chat with each other, answer attendees’ questions, and practice their presentations. Zoom Events Backstage should be available by the end of April.
Other new Events features include branded wallpaper that displays behind tiles and webinar reactions.