AI-based approach increases revenue team effectiveness by transforming interactions into insights
Gong, the leading sales-enablement platform leveraging artificial intelligence to go beyond traditional CRM and transform revenue teams, called on sales and revenue leaders to chart a new path towards a better customer reality at #celebrate, the inaugural Revenue Success Summit. Revenue Intelligence is that transformation, leveraging AI to record details of every single customer interaction a salesperson has, both verbal and written, across every relevant channel and converting them into actionable insights for revenue leaders.
Today, salespeople spend over 50% of their time manually updating their CRM system, leading to data that is limited and stale, ultimately creating a distorted view of customer reality. The goal of Revenue Intelligence is simple, and moves away from the surface-level view of traditional customer interactions: it’s a shift from making business decisions based on opinions and gut feelings to data and facts delivered through the platform’s insights engine, which reveal true customer reality.
“Revenue Intelligence is a powerful resource because it gives us visibility into the strategies, people, and results that will ultimately impact our business,” said David Ellis, director of sales, LinkedIn. “Revenue Intelligence enables us to go from hypothesis to data to insight, which will ultimately help us improve the skills of our reps, enhance the conversations we’re having, drive greater customer success, and advance LinkedIn’s vision of economic opportunity.”
Success within Revenue Intelligence is found in three key areas: People Success, Deal Success, and Strategy Success. People Success enables you to understand and replicate the behaviors of your best team members to raise the effectiveness of your entire sales team. Deal Success gives you unfiltered visibility into every customer interaction that’s taken place for a given sales opportunity and surfaces warning signals so you can take action before a deal goes south. Strategy Success provides real-time insights into the voice of your market to inform and adapt your go-to-market plans in real-time. With Revenue Intelligence, Gong’s customers have found onboarding time decrease between 20-50%, win rates increase by at least 10%, and overall deal sizes increase by 35%.
“We are seeing a significant trend of B2B companies investing more in technology to enable customer-facing functions from sales to customer success. Our research shows that organizations across all verticals are reporting that technology is having a substantial effect on sales effectiveness and sales productivity,” said Craig Rosenberg, Co-Founder and Chief Analyst at TOPO. “One of the key drivers of this trend has been the ability to analyze customer engagement from live conversations to digital activities. Companies are starting to realize that this is much bigger than just call recording. It’s about capturing the right engagement data to create an accurate view of the customer reality.”
Revenue Intelligence augments the traditional CRM model with AI-driven automation that captures a comprehensive view of customer reality in real-time, leading to a collaborative and transparent working environment. Instead of leaving everyone to focus on their own quotas and deploying their own strategies, Revenue Intelligence brings revenue teams together with a unified view of the customer reality.
“It may seem like an impossible task, but with Revenue Intelligence, anyone who is focused on growing revenue will have insights and data behind all of the nuances and subtleties of a customer conversation,” said Amit Bendov, Gong’s CEO and Co-Founder. “Revenue Intelligence enables collaboration across the organization, welcomes a new era of transparency, and makes sales an agile sport. It will ultimately make every revenue professional as effective as possible. In five years we will look back on the time when we operated solely based on our opinions, as manually entered into the CRM, and be dumbfounded as to how we even did business. It’s high time we all said, ‘Goodbye opinions. Hello, reality.’”