Salesforce, Inc. (CRM) Earnings Call Transcript & Summary

Good morning, everyone. Welcome to the Easy AI webinar on Einstein Conversation Insights and Call Summaries. Today, we may talk about some products that are not generally available. So we'd just like to let you know, please make purchasing decisions on currently available solutions that are available today. And good morning to you. My name is Tom Bruerton. I'm a solution engineer in the small-to-medium business segment. I will be presenting to you today the ECI platform. And I also have my colleague, Josh Browne, here today as well. Over to you, Josh.

Good morning, everyone. My name is Josh, and I'm excited to be here today to present to you how you can leverage Einstein Conversation Insights and Call Summaries.

Thank you, Josh. So in terms of the agenda today, what we're going to go through is we're going to start with how Einstein Conversation Insights and Call Summaries work. Then we're going to touch on how you can get started along with 2 feature demonstrations that we're going to cover these components in some more detail. And then as we wrap up the webinar towards the end, we'll have an opportunity for you to browse the resources that will be available through the ON24 platform, which is available under your resource section, and then we'll have a Q&A where you can ask any questions that you may have throughout today's webinar. So we know that companies are currently battling inflation, supply chain bottlenecks, regulatory uncertainty and political disruption. Amongst all these uncertainties, sales teams are under pressure to keep going and stay productive. A recent Gartner survey said that 80% of sellers are actually burning out. They have a higher intent to leave and a lower quota attainment. Sellers are juggling many hats and as they adapt to change the consumer demand, evolving buyer preferences and new ways of selling. One way to reduce this seller burnout is to look for how to drive productivity and new ways to improve business processes. Many sales teams have turned to data to help them adapt and use new sales strategies. A report by Gartner, the future of sales within 2025, revealed that 60% of business-to-business organizations will transition from experience and intuition-based selling to data-driven sales by 2025. My question to you is, are you on this path of being one of those organizations? Data-driven sales teams see growth and accelerated deal cycles. If we can all agree that data is important, why is it that few companies leverage data from within their sales calls? With digital selling on the rise, more of our sales calls are happening virtually than ever before, yet we're still relying on some of these traditional manual processes of taking notes, putting things in our phone or even writing them down on paper and then transferring them manually to the CRM as an after fact when we may have forgotten some of those key points that we had in the conversation. Customer conversations contain a wealth of insights around what customers are saying, what they are talking about your competitors and their general intent around what it is that they want to get out of the conversation or those other key buying decisions. They also provide visibility into how your reps handle objections, answering pricing-related questions or pitching a product. Unless you're in the room for every single one of these sales calls, your reps are providing detailed notes of every sales call, there could be an opportunity that you're missing out on a lot of insights from those calls and conversations that can help you accelerate your deal cycles and hopefully win more sales. So we just wanted to throw out there for a poll to ask everyone in the audience, how is it that you're currently analyzing sales data and conversation in your organization? And we've got a bunch of options here for you to select through. So please, if you could, over the next 30 seconds or so, fill in where you sit in terms of how you're analyzing sales conversations in your organization. Great. So later in the presentation, what we're going to do is we're going to come back and review the results of this poll. So now that we've talked about the context of how data-driven conversations and calls are somewhat being missed in the traditional processes, we're now going to pivot into what is Einstein Conversations and Call Summaries and how is it going to be able to drive all of those data-driven decisions based on the conversations that are being had. So Einstein Conversation Insights, it analyzes your sales data to give conversational intelligence within the flow of work. Within Einstein Conversation Insights, or ECI for short, managers can easily identify customer trends related to pricing, competitors and products or many more topics that you may define. These insights help you redefine what your selling enablement strategies are, empowering your frontline sales teams to always have the right conversation. ECI services coachable moments very quickly, so managers can spot risks in pipeline and provide feedback in context. They can also dig deeper and understand into pain that some of the reps are having around key components within items that haven't been actioned on in the conversation or particular keywords that have been mentioned and even talk-to-listen ratios throughout the conversation, which is something that I personally find quite valuable when evaluating my conversations using ECI. To drive consistency, managers can also scale best practices by sharing individual calls or creating libraries of what great looks like within the team or accelerate onboarding for new people that have joined the business so that they can be inspired by the best reps in the team and know how to proactively have a conversation in context of your selling motion. And the best part is that we have Einstein Conversation available in our Unlimited Sales Cloud addition and other additions based on add-on components that you can configure. So how do we unlock deals with customer singles? ECI features automatic insights, as we mentioned before, being able to provide those -- that guidance around different types of objections, next steps or even pricing indicators. You can also create custom trackers, if you'd like, including your products, your competitors' individual names to gauge the sentiment around your products and competitors. With ECI dashboards and reports, you can easily spot customer trends. For example, if there's a particular competitor that's being mentioned more and more over time or a new product that's been released that's really resonating with the audience that you're selling to as opposed to the traditional offerings. ECI insights and text snippets also appear within pipeline inspection in Sales Cloud. So when you're working through your pipeline, your insights from calls are automatically available there for you and handy to provide context within the deal depending on what stage it's at. So how can we reduce the burnout of our sales reps' incentives because we know that they're under a lot of pressure right now with selling becoming ever more complex in today's digital age? ECI allows them to improve their productivity quite significantly. With automatic transcripts, reps no longer need to make notes during a meeting knowing that everything that was said will be captured in Salesforce. They'll also get a notification when their call has been promised a follow-up and it's been processed. So if they promise to send an e-mail follow-up with the customer, they can actually create a task right away within the context of the activity on their opportunity or inside the call viewer. And the Actions tab can find insights that require their attention specifically such as objections raised by the customer over budget, authority, need and time. With ECI, you can also find coachable moments quickly by jumping into the identified insights within an individual call without needing to listen to that entire call. You can then leave comments for your sales reps with the information by clicking on the actual call recording and writing notes under the specific component inside the video player viewer or the call viewer. The best calls can be added to call collections, which can be used to reach the team alignment and speed up onboarding, as I said before, or provide an opportunity for coaching in a one-on-one consultation with a sales manager or leader and an individual rep who may be having some challenges with a specific topic. Again, as I mentioned, the value of ECI is providing that uplift in productivity across the platform. A new addition to Einstein Conversation Insights as part of our 252 release for Enterprise Edition, Unlimited and Einstein 1, customers will now have access to Conversation Hub. Conversation Hub is a personalized landing page that gives relevant metrics on recent conversations and top signals if you set up the sales signals functionality. You can also filter relevant conversations using the new conversations tab. And this is available now, as mentioned, on the Enterprise Unlimited and Einstein 1 sales additions. We understand that sales leaders require comprehensive data-driven solutions that make informed decision-making earlier with a goal of increasing overall revenue. With ECI, you can already track meetings and activities as mentioned. Today, we're introducing AI-generated meeting summarization for sales calls and sales meetings. That, we believe, is going to be a significant game changer for your organization. Our AI-powered summarization provides concise, structured summaries from conversations, helping your teams identify key takeaways, action items and customer sentiment, all leveraging the power of Einstein AI within the Salesforce platform. So no longer do we need to scroll through those tedious elongated transcripts. Your sellers don't need to spend that valuable time on those tasks, and they can edit the summary at any time, update the sentiment or simply share it across the Salesforce platform inside Slack as well. Because Call Summary is subjective, users need to be able to customize the input. So that's why, although you get a standardized summary, as you can see here on the second window that's been highlighted, we can actually have custom questions as well. And we do that in Call Explorer, powered by Einstein's generative AI skills. This is something that Josh will show later in the presentation -- the demonstration rather, that will allow you to ask questions from different perspectives and really interrogate what it is that happened on the call. Every persona that uses Einstein Conversation Insights will be able to explore the conversation and provide concise information on every subject. Where I've personally found this useful a number of times is you might have a call that goes for an hour to 1.5 hours and there are lots of different things that are brought up, you may not remember every specific component. Where this is super valuable for me personally is I've been able to go in and ask questions about that particular topic and get the information that I need. So let's have a look at from a poll perspective how is everyone currently analyzing their conversation data. From what we can see here, there is quite a significant number of you on the call that don't have a formal process yet or a manually reviewing call recording. So hopefully, what I've talked through today and you'll see shortly in the demonstration, you can see how the value of Einstein Conversation Insights will be able to leverage that. And so those that have either started trialing these functionality, whether it'd be on Salesforce or another platform or leveraging some of the AI-based conversations, it's great to see that there are people out there leading the forefront of using data from their conversations to drive their sales outcomes. So what we're going to do now is hand over to Josh, who's going to walk through a demonstration of Einstein Conversation Insights. Over to you, Josh.

Hi there. My name is Josh, and I'm very excited to be here today to present to you how you can leverage Einstein Conversation's Insights and Call Summaries today. As we've discussed, Einstein Conversation Insights and Call Summaries empower sales team to extract valuable information from customer conversations, enabling them to make data-driven decisions, to improve customer relationships and enhance sales performance. Today, I'm logged in as a sales rep and straightaway, I navigate to my Conversation Insights tab. What I'm seeing here is an overarching view of all the topics and themes that have been captured during some of the conversations with my customers. I'm able to see sentiment analysis and as well as the number of mentions within a particular topic or a particular theme. I can see all the calls that have happened within the last 7 days. But if I want more information, I can drill into my conversations tab and start to filter in or filter out relevant attributes. If I'm a sales leader, I can filter in my team's conversations as well as being able to drill in by particular participant, whether they'd be internal or external as well. Now by applying those filters, I'm able to see, at a high level, all those key conversations that are coming in from Microsoft Teams, Google Meet or Zoom. I can hover over the conversation and see some of the key insights such as those takeaways, what I need to actually do, next steps wise and being able to get more information, I can actually drill into the call. On the left-hand pane, I have all the key insights captured throughout the conversation. I can see pricing discussions, I can see objections related to budget or costs. I can even filter in those conversations and get those insights real-time. Within the context and the conversation itself, I can also request feedback or tag relevant individuals within ECI Salesforce. So here, I'm requesting from one of my peers some feedback around the discussion on some of the pricing and the objections that the customer mentioned. Now because we're recording all those rich insights within the Salesforce platform, I'm able to traverse the transcript. I'm also able to summarize the conversation using Call Summaries. Here, I can get what the customer's sentiment or impression was, what was the actual body of the conversation as well as tangible next steps. It will even provide generative insights such as key takeaways, challenges and concerns raised by the customer as well as future business opportunities, perhaps cross-sell and upsell in the future. And being able to have those rich insights, then allow me to take action. So whether it might be sending a follow-up e-mail or reminding myself to action certain topics and tasks off the back of our conversation. Now I've got a new opportunity that has been assigned to me, and the former sales rep actually left the business. So what I want to do is understand what actually happened in the conversation prior. So being able to drill into the previous conversation as well as ask questions of the conversation. So in this case, I want to understand what was the context around the renewal opportunity within this particular discussion and leveraging some of the key capabilities with Einstein Conversation Insights, I'm able to determine that this renewal opportunity is coming up in a couple of weeks. And all of this rich information is captured here within the conversation. Navigating back to my conversations tab. Here, I'm able to get an overarching view of all the key analytics, the conversations that have happened, the top mentions around perhaps pricing, competitor mentions and anything else that I want to track and maintain. If I'm a sales leader, I'm able to then reflect on some of the coaching moments that have happened with inside the platform and being able to record that accordingly. I'm now going to hand it back to Tom to talk us about how we actually go about setting up this. Thank you very much for listening.

Thank you, Josh. What a great way to see live in action how Einstein Conversation Insights can drive those sales conversations. So we have a great announcement on this webinar today for Enterprise Edition customers that have Sales Cloud, we actually have 10 licenses available for you to consume and use right now. So there's no additional licensing or engagement with your fellow account executive. You can just log into the Salesforce platform and start provisioning Einstein Conversation Insights to get started. And one other thing that we'd like to highlight is whilst the demonstration that Josh showed us is predominantly from a video perspective, we can also leverage Einstein Conversation Insights for voice platforms as well. And there's lots of documentation on the Salesforce Hub website in terms of the platforms that we can configure that with. A reminder, if you do have any specific questions about what I've talked about so far or what you saw in Josh's demonstration of the platform, please feel free to use the questions and answers components so that we can support you at the end of the webinar. So now we've talked about what it is that Einstein Conversation is and how it can provide value to your sales teams, we're now going to talk about how to get it set up. So within the Salesforce Sales Cloud platform, we've announced a new setup process called Sales Cloud Go. And what this is doing is providing a streamlined way so you can quickly set up adoption of features and explore the information around the specific features in the context of the setup wizard. And as you can see, it's on the right-hand side here before we jump into the second demonstration with Josh. It's essentially a one-stop shop for you to understand all of those different components that Sales Cloud offers and how you can easily configure the platform to get them set up as opposed to using the traditional setup process. So now I'll pass back again to Josh, where we're going to walk through the setup process of the Einstein Conversation Insights platform. Back over to you, Josh.

Welcome back, everybody. In this demonstration, we're going to go ahead and walk you through how to set up Einstein Conversation Insights as well as Call Summaries. Now you'll notice on the cogwheel on the top right, there is a new setup page for Sales. Going into the Sales setup, we'll now give you a one-stop shop for all your Sales Cloud functionality and this is where I can go ahead and search for new capability, new features that are, again, just a click of a button away. Here, I'm able to scroll through all the capability as it relates to certain features and functions. I'm also able to dive in and get a tour of either existing functionality or new functionality as it relates to Sales Cloud. In this example, I'm getting a tour of Einstein Conversation Insights and what it can do for my team. So once we are happy with the product, the capability, I want to go ahead and turn it on. Now this is a one-stop shop. All I need to do is select the functionality and hit turn on. Now we've turned on these call capabilities or features, I need to go ahead and configure the relevant permissions as well. So for Einstein Conversation Insights, I'm going to go into the Einstein Conversation setup tab, and I'm going to enable Conversation Insights. And by enabling it, I am connecting my Salesforce instance to either a third-party voice recording provider or I'm connecting it to the likes of Google Meet, Microsoft Teams as well as Zoom. And there are some other features that I can turn on, whether it's speaker separation to ensure the representation of different speakers within the meeting. I can select and ensure that, that meeting is aligned to an opportunity, an account, a contact and I can also get weekly, daily, monthly highlights from all the conversations that are happening inside my Salesforce instance. Once I've gone ahead and enabled Einstein Conversation Insights, I now want to go and turn on Call Summaries. So Call Summaries was the ability for my team to be able to summarize those conversations and get some real understanding of call summary, call resolution as well as key insights that were captured in the conversation. Diving into permission sets, Einstein Sales Call Summary Permission set. I want to go ahead and assign the relevant permission to the various users that have or should have access. This permission set is enabled through the Einstein for Sales license. So if you don't have that license, be sure to speak to your account executive. Now I'm assigning this permission to one of my key users, Xavier, and I'm going to toggle back to the setup page and make sure I can see that conversation call summary is on the right page. So whether it is on the account, the opportunity, on the contact, all I need to go to is the app page and make sure that I add the call summary-related list to the page layout. Now I've completed the call summary setup. The next thing I want to do is enable Call Explorer. You'll remember Call Explorer allows me to essentially interrogate and ask questions of the conversation. Using generative capability, it will understand the conversation, the context and provide a response in the Call Explorer window. And all I need to do to enable that is assign, again, the relevant permission to the relevant user. And this is all part of the Einstein for Sales license. I'm going to go ahead and assign that permission. And as soon as that is done, my users now have access to Call Summary, Call Explorer and Einstein Conversation Insights. And this is all available today for you to get started through the Sales Cloud setup page. Thank you very much for listening.

Thank you, Josh. And what a great way to cover through the simple setup process of turning on Einstein Conversation Insights and Call Summaries. Salesforce and ECI is safe and secure with your data. And as you can imagine, whilst we've been going through this webinar with you this morning, there may be some questions around what happens to the data that is sent through and stored by Salesforce to provide you these rich insights. ECI is a secure solution to handle your sensitive data. Call transcript access can be controlled through Salesforce role hierarchies and sharing rules similar to all of your existing records within the platform. When using telephony providers for voice call recordings, they're stored in a Salesforce S3 storage bucket and are available for you up to a default of 2 years. Video calls are a little different. We actually directly stream those from the video streaming provider, whether that be Microsoft Teams, Google Meet or Zoom video recording platform. So what this allows us to do is not duplicate the data that is required in order to store all that content. It is stored directly within your existing video platform. And we just stream that so that it's visible in the context of your CRM records and customer conversations. Sensitive PII is not included in AI model training, but it will be in the recording or the video, as you are aware of that from the conversation that we've had, and that is stored in your provider's platform. Also, as we know, call recording is a quite sensitive topic depending on the environment, the local regulations from a country or state perspective or certain geographical regions. Regardless of the local laws within your specific region, we highly recommend that you liaise with your operations and legal team to consider using a selective opt-in process for call recording. And ECI does not do the call recording process itself. It essentially accesses it from the underlying provider, but we definitely recommend always getting -- we strongly advise to always get call consent before starting the recording process in your recording platform. So who are the people that use Conversation Insights? Hopefully, by the tail of this webinar that we're wrapping up, now you have a good understanding of the benefits from a sales perspective of how this can be leveraged, particularly around inside sales to produce productivity across your reps, decreasing onboarding time and gaining those insights on pipeline and opportunity and this also extends to field sales teams that are more on the go. But I'd like to highlight that sales is not the only beneficiary of Einstein Conversation Insights. Think of service delivery organizations, contact centers, customer agents that are responding to inquiries. We can use Einstein Conversation Insights to gain information across all of these sub-verticals within your organization to again provide those data-driven decisions within your business, to improve productivity and decrease onboarding time across new employees within the organization and overall make more informed business decisions. So I'd like to direct you now to the Resources tab inside your ON24 console that we're using to run this webinar, where we have a bunch of links that have been provided to help you get started and understand more about Einstein Conversation Insights. And after reviewing that, we'd like to open the floor up for any of you that have asked a question already, I know that we have mentioned that Josh and I will now handle some of those questions live. But if you haven't raised the question and you would like to understand a little more, please do use the opportunity whilst we're here. And as we wrap up the formality part of the presentation, I'd really like to thank you all for spending the time over the last 30 minutes of listening to what the benefits of Einstein Conversation Insights could be for your organization, and we look forward to helping you on that journey to use call information to drive data -- sorry, data-driven decisions. So over to you, Josh, to handle the question.

Thanks, Tom. So thanks, everyone, for your engagement today. Really appreciate your time. There are a few questions here that we'd like to answer with you live. One of those questions was around the availability of a voice platform and does that include phone calls as well? The answer is yes. Salesforce has an open API. So we do have the ability to integrate with third-party voice platforms. Those platforms, again, some of them are available today. So as an example, we've spoken about Google Meet, Teams and Zoom. But there are also a number of other third-party telephony solutions like CloudTalk, NanoBox, Aircall. We can share some documentation and lengths around that. But I'd also encourage you to reach out to that voice provider to see if they have the ability to integrate. And again, we have an open API policy. So being able to integrate with those third-party platforms then allows you to leverage the likes of Einstein Conversation Insights and Call Summaries and the information that you've seen today. And there's another question here about face-to-face meetings. Is there any way that we can leverage this in a similar vein? Right now, what we're currently focused on is the ability to integrate with third-party providers like Zoom, Google Meet and Hangouts and those voice telephony providers as well. At the moment, I'm not aware of any sort of road map to capture face-to-face meetings, but we'll be sure to take that on note and sort of follow up around what road map looks like in potential product innovations as well. A question here around other Conversation Insights and Call Summary transcripts kept in a person's contact record. Where can we refer to for later usage? It's a great question. Again, you can store or virtualize or visualize the call recording on a contact record, on an account record as well as an opportunity. So you have the ability and the flexibility to relate that conversation to any sort of standard or custom record that's within your Salesforce environment. So there is that flexibility for you to associate, provided you have the contact details and account details. Do you have an integration with [ Voz.io ] calling platform? I'd encourage you to reach out to the [ Voz.io ] platform itself. As I mentioned, we do have open APIs, so we can integrate with third-party platforms. I'd again, encourage you to reach out to that provider to see if they can -- if they have an open API to integrate with Salesforce.

Also, I'd just like to share on the [ Voz.io ] calling platform. On our publicly facing help documentation, we have a number of solutions on the help documentation that provide the APIs to configure with any voice platform. So as long as you have an API on the [ Voz.io ] side, you can work with either your internal teams or a Salesforce implementation partner that's certified in the voice platform is our recommendation to help configure that. But in terms of bringing that data into Salesforce, it is possible. We just need the API and the voice files passed into Salesforce so that they can be transferred and then analyzed to get the insights that we've discussed. Great question, Daniel. What are the costs? Josh and myself are both solution engineers, so primarily on the technical side. So what we would recommend is for you to reach out to your relevant account executive to be able to talk about the cost because there are a number of ways that can be structured. And what we will be able to do from that is provide an accurate estimate of what the pricing may be for the platform. There is also publicly facing pricing on our website on salesforce.com under Sales Cloud Einstein Conversation Insights. Josh, I'll pass back to you for a couple of the other questions.

Thanks, Tom. Again, we have a few more questions here, conscious of time, and we might not be able to get to all of them. So again, I appreciate the questions coming through and the engagement. Do we have the person speaking via MS Teams listed lead or contact to enable ECI to record and attach the record? What I would recommend is speaking to your account executive to enable that integration with Microsoft Teams. Again, there are a number of public-facing documentation links to help set up that integration. But again, like I mentioned before, being able to associate it with a lead or a contact that is possible. Again, I would also encourage you to speak to implementation partners should you need help with setting that integration up. So going to wrap up there. I appreciate we couldn't get to all the questions. We will follow up with any questions that we couldn't get to today. But thank you very much for your time, your engagement, and I hope you have a wonderful day. Thanks, everybody.

Thank you. Bye-bye.