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Sounding the gong on voice capturing technology

May 27, 2019

Sounding the gong on voice capturing technology

Octopus Labs builds technology for financial advisers and investors. But Labs also understands the importance of utilising the latest, most innovative technology to improve performance within the Octopus Group. Voice capturing technology is a recent innovation being introduced to the sales team at Octopus Cash. It allows the team to gather key metrics and data points that will lead toward better training, coaching, skills and strategy.

We spoke with Tim Parker, Business Development Manager for Cash, about how his team is using Gong, the leading conversation intelligence platform for B2B sales teams.

What is Gong?

Gong captures all of your sales conversations — phone calls, web conferences, and emails. Once each call is finished, Gong uses conversation analytics technology to analyze sales calls at the individual and aggregate level. The platform becomes smarter as it analyzes more data, ensuring learnings are refined deal after deal.

How will the Octopus Cash sales team use Gong?

In a few key ways. First, for on-going call coaching. Gong measures and tracks key interaction stats like talk ratio, interactivity, and patience. It also counts how many questions are asked in a call based on voice inflection.

On a granular level of analysis, we have inputted a number of key “tracker words” relating to our product, process and competitors. Gong tracks these on every call. You can click on a tracker word within a call or search for any word. It will bring up each call where that word is mentioned and point to the exact place in the call where it happens.

So, if we’re looking at how we talk about our competitors, or what our clients think of them, we can do a simple word search to see where that name is mentioned. We can also comment with structured feedback at each specific moment in a call.

Are there specific benefits for those just joining the sales team?

When new colleagues join the team, they can easily search Gong for key topics they want to know more about. They can then hear client conversations and how these topics are being discussed by existing members of the team.

How might Gong change the business?

Moving forward, once there is more data on the system, we will see clear trends and be able to replicate effective sales behavior. This will shine a light on what our top performers do differently and drive consistency across the entire team.

What initial feedback have you received from the sales team?

Here is what the latest member of the team, Ollie Greensted, had to say:

“Once I grasped the basics of Octopus Cash, the most beneficial tool to my development was call listening. Gong really aided this. Rather than having to wait for booked calls to take place, I could listen to conversations with advisers 'on demand'. From the stats I can see I listened to 50+ calls in my first couple of weeks. This vastly helped the speed in which I could learn call structure, the various sales techniques within the team and the usual questions that arise. As a result, I'm a big advocate of Gong.”