Retrieval Augmented Generation for Sales Calls: How AI is Revolutionizing the Sales Process
Sales calls are an essential part of any business’s sales strategy. They involve a sales representative reaching out to a potential customer to pitch a product or service and hopefully close a deal. However, the traditional sales call process can be time-consuming, repetitive, and often ineffective. This is where retrieval augmented generation (RAG) comes in – a game-changing technology that combines natural language processing (NLP) and generative AI to enhance sales calls and improve overall sales performance.
In this blog, we will discuss the concept of retrieval augmented generation for sales calls, its benefits for researchers, marketers, and organizations, and how it can revolutionize the sales process.
The Definition of Retrieval Augmented Generation
Retrieval augmented generation is a technology that combines two powerful AI techniques – NLP and generative AI – to improve the quality of generated text. It involves using a large language model, such as GPT-3, to generate text based on a given prompt or input. However, unlike traditional text generation, RAG also incorporates retrieval mechanisms that allow it to retrieve relevant information from a knowledge base or a set of documents. This combination of generation and retrieval makes RAG an incredibly efficient and accurate AI tool.
The Benefits of Retrieval Augmented Generation for Sales Calls
As a researcher, marketer, or organization, there are numerous benefits to incorporating retrieval augmented generation into your sales call process. Let’s explore them in detail.
1. Enhanced Personalization
One of the key benefits of RAG is its ability to personalize sales calls. With traditional sales calls, the sales representative often follows a script and struggles to tailor the conversation to the specific needs and interests of the potential customer. However, with RAG, the large language model can generate personalized responses based on the customer’s input and retrieve relevant information from the company’s knowledge base. This results in a more engaging and personalized sales call, increasing the chances of closing a deal.
2. Time-Saving and Efficiency
Sales representatives are often overwhelmed with the number of calls they have to make, and the traditional sales call process can be time-consuming. However, with RAG, the large language model can generate responses in real-time, saving the sales representative’s time and increasing their efficiency. This allows them to make more calls, reach out to more potential customers, and ultimately close more deals.
3. Consistency in Messaging
With traditional sales calls, there is always the risk of human error, such as forgetting key points or not addressing specific customer concerns. However, with RAG, the generated responses are consistent and accurate, ensuring that the messaging is always on point. This is especially beneficial for organizations that have multiple sales representatives, as it ensures consistency in messaging across the team.
4. Data-Driven Insights
Another significant benefit of RAG for sales calls is the ability to analyze and track data. With traditional sales calls, it can be challenging to collect and analyze data on the effectiveness of the sales pitch, customer responses, and closing rates. However, with RAG, all interactions are recorded and stored, providing valuable insights for researchers and marketers to analyze and improve the sales process.
The Future of Sales Calls with Retrieval Augmented Generation
The use of RAG in sales calls is still in its early stages, but it has already shown immense potential in enhancing the sales process. As AI technology continues to advance, we can expect to see even more sophisticated and accurate RAG models that will revolutionize the sales call process. Not only will RAG improve the efficiency and effectiveness of sales calls, but it will also free up sales representatives’ time to focus on building relationships and closing deals.
Conclusion
Retrieval augmented generation is a game-changing technology for sales calls. Its combination of NLP and generative AI enables personalized, efficient, and consistent sales calls. As more organizations adopt RAG into their sales process, we can expect to see a significant shift in the sales landscape, with increased efficiency, data-driven insights, and improved sales performance. If you want to stay ahead of the curve and revolutionize your sales process, it’s time to consider incorporating retrieval augmented generation into your strategy.
How To Use Speak’s Retrieval Augmented Generation For Sales Calls
Step 1: Create Your Speak Account
To start your transcription and analysis, you first need to create a Speak account. No worries, this is super easy to do!
Get a 14-day trial with 30 minutes of free audio and video transcription and analysis included when you sign up for Speak.
To sign up for Speak and start using Speak Magic Prompts with retrieval augmented generation, just visit the Speak app register page here.
Step 2: Upload Your Sales Calls
We typically recommend MP4s for video or MP3s for audio.
However, we accept a range of audio, video and text file types.
You can upload your file for transcription in several ways using Speak:
Accepted Audio File Types
- MP3
- M4A
- WAV
- OGG
- WEBM
- M4P
Accepted Video File Types
- MP4
- M4V
- WMV
- AVI
- MOV
- FLV
Accepted Text File Types
- TXT
- Word Doc
CSV Imports
You can also upload CSVs of text files or audio and video files. You can learn more about CSV uploads and download Speak-compatible CSVs here.
With the CSVs, you can upload anything from dozens of YouTube videos to thousands of Sales Calls files.
Publicly Available URLs
You can also upload media to Speak through a publicly available URL.
As long as the file type extension is available at the end of the URL you will have no problem importing your recording for automatic transcription and analysis.
YouTube URLs
Speak is compatible with YouTube videos. All you have to do is copy the URL of the YouTube video (for example, https://www.youtube.com/watch?v=qKfcLcHeivc).
Speak will automatically find the file, calculate the length, and import the video.
If using YouTube videos, please make sure you use the full link and not the shortened YouTube snippet. Additionally, make sure you remove the channel name from the URL.
Speak Integrations
As mentioned, Speak also contains a range of integrations for Zoom, Zapier, Vimeo and more that will help you automatically transcribe your media.
This library of integrations continues to grow! Have a request? Feel encouraged to send us a message.
Step 3: Calculate and Pay the Total Automatically
Once you have your file(s) ready and load it into Speak, it will automatically calculate the total cost (you get 30 minutes of audio and video free in the 14-day trial – take advantage of it!).
If you are uploading text data into Speak, you do not currently have to pay any cost. Only the Speak Magic Prompts analysis would create a fee which will be detailed below.
Once you go over your 30 minutes or need to use Speak Magic Prompts, you can pay by subscribing to a personalized plan using our real-time calculator.
You can also add a balance or pay for uploads and analysis without a plan using your credit card.
Step 4: Wait for Speak to Analyze Your Sales Calls
If you are uploading audio and video, our automated transcription software will prepare your transcript quickly. Once completed, you will get an email notification that your transcript is complete.
That email will contain a link back to the file so you can access the interactive media player with the transcript, analysis, and export formats ready for you.
If you are importing CSVs or uploading text files Speak will generally analyze the information much more quickly.
Speak will automatically embed your data in a well-architected vector database which allows you to use retrieval augmented generation for Sales Calls.
Step 5: Visit Your File Or Folder
Speak is capable of analyzing both individual files and entire folders of data.
When you are viewing any individual file in Speak, all you have to do is click on the “Prompts” button.
If you want to analyze many files, all you have to do is add the files you want to analyze into a folder within Speak.
You can do that by adding new files into Speak or you can organize your current files into your desired folder with the software’s easy editing functionality.
Step 6: Select Speak Magic Prompts To Analyze Your Sales Calls
What Are Magic Prompts?
Speak Magic Prompts leverage innovation in artificial intelligence models often referred to as “generative AI”.
These models have analyzed huge amounts of data from across the internet to gain an understanding of language.
With that understanding, these “large language models” are capable of performing mind-bending tasks!
With Speak Magic Prompts, you can now perform those tasks on the audio, video and text data in your Speak account.
Retrieval augmented generation is what makes these Magic Prompts work so well.
Step 7: Select or Create Your Assistant Type
To help you get better results from Speak Magic Prompts, Speak has introduced “Assistant Type”.
These assistant types pre-set and provide context to the prompt engine for more concise, meaningful outputs based on your needs.
To begin, we have included:
- General
- Researcher
- Marketer
- Sales
- Recruiter
Choose the most relevant assistant type from the dropdown.
You can also create your own custom Assistant Template Type.
If you visit the new page Account Preferences, you can see there is now an area where you can create your own custom Assistant.
This allows you to set the context of the engine for higher quality and more consistent outputs.
For example, you could say:
“We are [COMPANY NAME]. We are analyzing [DATA] to understand how to improve [GOAL]. We want all responses to be concise and in table format.”.
This becomes a reusable template in any of your manual or automated Magic Prompts.
You can create multiple templates for different use cases.
As an example, the analysis you run on a focus group may be different than a one-on-one interview.
Step 8: Create Or Select Your Desired Prompt
Here are some examples prompts that you can apply to any file right now:
- Create a SWOT Analysis
- Give me the top action items
- Create a bullet point list summary
- Tell me the key issues that were left unresolved
- Tell me what questions were asked
A modal will pop up so you can use the suggested prompts we shared above to instantly and magically get your answers.
If you have your own prompts you want to create, select “Custom Prompt” from the dropdown and another text box will open where you can ask anything you want of your data!
Step 9: Review & Share Responses
Speak will generate a concise response for you in a text box below the prompt selection dropdown. With Chat enabled, you can also continue to query that data to reveal more insights and reformat the information to your needs.
In this example, we ask to analyze all the Sales Calls in the folder at once for the top product dissatisfiers.
You can easily copy that response for your presentations, content, emails, team members and more!
Speak Magic Prompts Pricing
Our team at Speak Ai continues to optimize the pricing for Magic Prompts and Speak as a whole.
Right now, anyone in the 14-day trial of Speak gets 100,000 characters included in their account.
If you need more characters, you can easily include Speak Magic Prompts in your plan when you create a subscription.
You can also upgrade the number of characters in your account if you already have a subscription.
Both options are available on the subscription page.
Alternatively, you can use Speak Magic Prompts by adding a balance to your account. The balance will be used as you analyze characters.
Completely Personalize Your Plan 📝
Here at Speak, we’ve made it incredibly easy to personalize your subscription.
Once you sign up, just visit our custom plan builder and select the media volume, team size, and features you want to get a plan that fits your needs.
No more rigid plans. Upgrade, downgrade or cancel at any time.
Claim Your Special Offer 🎁
When you subscribe, you will also get a free premium add-on for three months!
That means you save up to $50 USD per month and $150 USD in total.
Once you subscribe to a plan, all you have to do is send us a live chat with your selected premium add-on from the list below:
- Premium Export Options (Word, CSV & More)
- Custom Categories & Insights
- Recorder Customization (Branding, Input & More)
- Media Player Customization
- Shareable Media Libraries
We will put the add-on live in your account free of charge!
What are you waiting for?
Refer Others & Earn Real Money 💸
If you have friends, peers and followers interested in using our platform, you can earn real monthly money.
You will get paid a percentage of all sales whether the customers you refer to pay for a plan, automatically transcribe media or leverage professional transcription services.
Use this link to become an official Speak affiliate.
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Just use our Calendly link to find a time that works well for you. We look forward to meeting you!
