Home Sales Prospecting What is Revenue Intelligence? Why Gong Pioneered The Category in 2019

What is Revenue Intelligence? Why Gong Pioneered The Category in 2019

0
What is Revenue Intelligence? Why Gong Pioneered The Category in 2019

Think about a world the place you had a single, full, real-time, unfiltered, unopinionated supply of reality.

Let’s break down these “sources of reality”:

Single: No silos. No want to drag go to gross sales and advertising and buyer success to retrieve related knowledge.

Full: No “partial truths.” Not a slice of actuality. Not a couple of recorded calls and video chats. All. Full.

Actual-time: No want to attend a couple of days or perhaps weeks to get the perception you want. No motive to rent an outdoor agency to dig by means of the information and current a fairly report that’s outdated and ineffective by the point you get it. 

Unfiltered: You CAN deal with the reality. No censoring. No filters. What you hear (and what your reps say) is what you get.

Unopinionated: No person driving the narrative, softening what you heard. You get all of it. 

Excellent news: You don’t have to think about this world. It’s right here. Now. Right here at Gong, we name that Income Intelligence.

So what’s Income Intelligence?

Income Intelligence routinely captures buyer interactions, analyzes them to offer insights, and applies these learnings to find out the following greatest motion for profitable outcomes throughout a corporation’s go-to-market technique.

Onerous cease. 

That’s it. That’s all. Easy. Simple.

Maintain on. Not so quick, my pal.

Let’s strive that once more. Income Intelligence is straightforward… if you happen to use Gong (in fact).

Why Income Intelligence transforms your complete firm?

Income Intelligence faucets into your most vital knowledge supply: the unfiltered voice of your clients.

Income Intelligence supercharges your group in 3 vital methods:

  1. Unlocks actuality with full visibility into efficiency and market.

David Ellis, Gross sales Director at LinkedIn, summed it up properly — “Income Intelligence permits us to go from speculation to knowledge to actionable insights. This permits us to enhance the abilities of our reps, improve the conversations we’re having each day, drive better buyer success, and advance our imaginative and prescient of financial alternative.”

Income Intelligence does this by capturing and transcribing all buyer interactions to offer an unfiltered, unopinionated supply of reality.

However apart from simply understanding the place to search for actionable insights, Income Intelligence data and analyzes the whole lot. 

Gone are the times of gross sales groups manually describing a fraction of buyer interactions. As a substitute, each single supply and sign — emails, calls, metadata, relationships, and extra — are routinely collected with Income Intelligence. 

This implies: 

  • Listening to the shopper’s voice utterly unfiltered
  • Getting real-time suggestions to tell foundational adjustments
  • Avoiding fluff, eliminating bias, and finally deepening data about consumers

You and your staff are actually absolutely outfitted with data-driven insights… empowered to determine actionable subsequent steps.

  1. Leverages an autonomous system to drive profitable outcomes

In 2022 (and past), automation is the important thing. 

Income Intelligence works inside any go-to-market mannequin by making use of insights to offer automation. 

Automation interprets to: 

  • Improved measurement
  • Refined forecasting
  • On the spot warnings and proposals

With Income Intelligence, managers and reps have one of the best probability of success and finally drive income. 

As Morgan Jacobson, Principal Supervisor of Gross sales Technique and Techniques at HubSpot shared: “Since adopting [Revenue Intelligence], we’ve seen a major improve in our productiveness per rep. New reps are ramping up quicker and getting over 100% quota throughout the first few months of their ramp.” 

Income Intelligence means extra centered gross sales reps as the necessity to take notes throughout a name goes away. Conferences are actually extra environment friendly as each interplay is now captured routinely. Mundane duties are additionally automated. 

Income Intelligence means salespeople can now concentrate on what issues most — SELLING.

  1. Aligns income groups round buyer interactions.

Promoting is a staff sport.

Nice gross sales organizations have interaction everybody — EVERYONE — inside their firm… advertising, buyer success, product, and so forth. 

Nice gross sales organizations deal with neighboring departments as collaborators, not opponents. 

Income Intelligence helps construct and develop these interoffice relationships. #BridgeBuilders

Income Intelligence helps create a way of connection amongst numerous groups by driving reality-based collaboration, communication, and alignment.

As Aisha Wallace-Wyche, Vice President of International Coaching and Enablement at Diligent shared, 

“Income intelligence is absolutely built-in throughout all staff capabilities. Gong has develop into the inspiration of our enterprise mannequin for data sharing.”

How does Income Intelligence work?

Mentioned one other method, “How is the (Income Intelligence) sausage made?

Let’s have a look below the hood!

The beating coronary heart of Income Intelligence is what we name the conversational repository. 

This repository — powered by dialog intelligence, in fact — saves all buyer interactions and turns them into the brand new single supply of reality about your enterprise. 

Subsequent up: AI and “thrilling automation stuff.”

  • Seize interactions. Document and transcribe (routinely) all buyer interactions, from video calls to emails to straight-up old-school cellphone calls. Bonus: Native integrations with main platforms imply knowledge flows seamlessly between methods. 
  • Ship insights. Interactions are analyzed. Insights are derived. Oh, and all of that is tied to outcomes, deepening your understanding of what drives high-performing expertise, wins extra offers, and resonates inside your market. 
  • Derive intelligence. Sure. We simply used the phrase “derive” twice. The REALLY enjoyable half is when these insights drive automation — inputs for measurement improved forecasting, warnings, and proposals. All of that “derived stuff” ensures managers and reps have one of the best probability of success. AKA, they WIN extra.

capture analyze deliver chart revenue intelligence integrations

Gong clients use Income Intelligence within the following 4 areas: 

1. TEAMS

With regards to groups, productiveness is the secret.

Quickly deploying the behaviors of essentially the most profitable reps is the way you win.

Patchy name notes. Biased one-on-one conversations. GONE. 

With Income Intelligence, reps and managers work from unadulterated name recordings, permitting them to floor concrete alternatives and areas for development.

As Shimona Mehta, Managing Director of Europe, Center East, and Africa at Shopify, mentioned: “Working with Gong has exponentially improved our skill to construct a studying atmosphere for our gross sales staff and empower our gross sales coaches to help our reps of their growth.”

2. DEALS

Your group lives (and dies) with offers.

And the well being of your offers issues — loads. Income Intelligence helps to look at and analyze that deal well being. Maximize your open pipeline and shield your buyer base from churn.

That’s what Bluecat does. Jason van Ravenswaay, Bluecat’s Head of International Gross sales Operations, makes use of Deal Intelligence for the staff’s bigger offers. “It helps to actually perceive the sentiment of every buyer and whether or not or not the engagement goes up or happening…”

3. MARKET

The voice of the shopper is crucial. The unfiltered voice of your buyer is a game-changer. 

Income Intelligence means getting real-time suggestions to tell elementary adjustments in product course and Go-To-Market (GTM) technique.

“Gong has actually given us the perception to have the ability to competitively assault the market higher, to have the ability to prepare and validate that our coaching is definitely working with our reps, that they’re not simply internalizing it, however truly making use of it appropriately.” — Michael Hoy Director of Company Gross sales at Pendo.

4. FORECASTING

Understanding the fact of each deal… like what’s actually occurring… means  gross sales forecasting is not an artwork however a science. 

Higher analytics. Sharper metrics. Clearer progress indicators. #WinWinWin

This type of forecasting is paying dividends (actually) for Vinit Patel, Co-founder and COO at Filtered:  “When a rep says, ‘This deal will shut this quarter,’ we will take heed to the gross sales calls to actually unpack what’s happening. You’re telling me this deal will shut in two weeks’ time, however nobody has spoken to this buyer within the final three weeks? There’s no method this deal is closing in two weeks.”

The place does Income Intelligence match into the fashionable gross sales stack?

Social promoting instruments.

Digital dialers.

Digital presentation instruments.

Gross sales teaching software program.

Compensation calculators.

Database merchandise. 

Database cleansing merchandise.

Oh, and 461 CRMs. 

YIKES.

As of 2021, there are 1,078 enterprise gross sales merchandise available on the market.

Take a second to let that quantity soak in.

The gross sales business is among the most tech-heavy sectors.

However allow us to be clear: Know-how is our pal, not our enemy (or frenemy).

The excellent news: 2 out of each 3 gross sales organizations could have moved from intuition-based to data-driven decision-making by 2026 (Gartner). And three out of 4 could have changed conventional gross sales playbooks with AI-based promoting guides by that very same time. 

Income professionals want extra insights and actions, no more unintelligible uncooked knowledge (no more disparate, hastily-stitched collectively, point-to-point options).

A centralized resolution that delivers a seamless expertise. We name that Income Intelligence, aligning organizations across the genuine voice of the purchasers to, nicely, #UnlockReality. 

BUT WAIT. Isn’t that what so many different gross sales tech corporations are promising? A unified platform based mostly on gross sales engagement, forecasting, and gross sales assistants. Yup.

Nonetheless, “the others” depend on self-reported opinions and gross sales notes and CRM fields, and manually entered knowledge and second-hand info. 

Income Intelligence is totally different as a result of it places buyer interactions — what they are saying, write, chat about, browse, and skim — on the middle of the whole lot. It builds off what’s actually occurring. It’s the one unified platform constructed on reality, not opinions. 

Income Intelligence is your Actuality Platform. 

Gong pioneered the Income Intelligence class in 2019. Why?

Glad you requested.

It began in 2015 when Gong’s founder, Amit Bendov, was the CEO of one of many hottest enterprise analytics startups (pre-Gong).

He observed that gross sales have been falling.

These 3 phrases, it turned out, have been the spark that impressed Income Intelligence 4 years later.

Pre-2015, offers have been closing, and clients have been joyful. Gross sales. Renewals. Upsells. Issues have been buzzing. 

However then the whole lot modified. Reps have been profitable fewer offers. Income was sliding. Development was stagnant. Amit requested his government staff, “What (the heck) was happening?” 

Nothing apparent stood out. No recession. No COVID.

Each stat, determine, and metric instructed issues needs to be good to nice.

When Amit obtained into the information, it grew to become extra evident. The corporate’s CRM was nice at recording what occurred however not why it occurred. 

Certain, there have been feedback like “No Price range” or “Unhealthy Match” to suggest why offers weren’t closing, however the vagueness of those causes was not sufficient to know the true WHY.

Inaccessible and incomplete info was driving opinion-based decision-making. 

To compound the problems, departments have been misaligned, missing a typical understanding of the voice of the shopper. 

And this was not an issue distinctive to Amit and his firm. These frequent income challenges undermined in any other case excellent organizations throughout the globe. 

Amit did what any profitable entrepreneur would do — he addressed the issue head-on and provided an answer. He started listening to his firm’s most respected asset: clients and the interactions and conversations folks had with advertising, gross sales, help, and buyer success. 

By this effort, Amit discovered all of the solutions he was in search of. However… the best way he went about buying this knowledge was removed from scalable — too many calls, too few hours within the day. 

He teamed up with Gong co-founder Eilon Reshef to flip the previous CRM mannequin on its head and ship perception the place beforehand leaders had none. 

Income Intelligence was born.

Amit and Eilon uncovered that consumers had modified, however gross sales organizations have been doing issues the “method they all the time had.”

opinion-based labor-intensive misaligned

All 3 of the above “pains” decelerate worker productiveness and erode engagement… disjointed buyer journeys and needlessly improve churn.

A fast historical past of gross sales: gross sales was easy… err… less complicated. Reps have been the guardians of data. Pitch. Pitch. Pitch. Promote. Promote. Promote.

The Web — coupled with content material advertising and buyer-centric gross sales — modified the whole lot.

timeline b2b sales

Patrons have develop into self-directed and self-educating. 

Reality: Two-thirds of consumers choose to collect info on their very own and 60% choose to not work together with salespeople in any respect. 

That’s an honest measurement pivot from a couple of many years in the past, proper?

Patrons now have (method method method) extra energy… and knowledge, and data, and opinions, and so forth. And the client’s journey is much less linear than it’s ever been.

This bears out within the knowledge as nicely. For instance, three-quarters of consumers admit their newest buy was very complicated or troublesome.

Salespeople need to concentrate on significant (sales-related) work — discovery calls, writing proposals, technical discussions, and so forth. As a substitute, workloads have develop into dominated by “shallow work.”

After which COVID hit. In a single day, the world went distant. And gross sales organizations needed to pivot rapidly and onerous. The affect on gross sales groups all over the world modified was instant. And issues won’t ever be the identical.

At this time’s organizations should drive alignment throughout locationally impartial groups and modify their buildings and methods to fulfill consumers’ expectations. 

“We thought we knew what was driving gross sales excellence. We thought we knew what our companions thought of us, what the aggressive panorama regarded like, what the macro drivers of their area have been. We thought we knew what drove gross sales rep conduct change. We had an thought once we have been within the workplace, however have been removed from actual. After we moved to distant, issues obtained even murkier.” -—Stephen Capezza, Senior Vice President of Premier Agent Gross sales & Partnerships at Zillow Group

B2B gross sales haven’t responded to the ocean of change. As a substitute, leaders are counting on opinion-based insights and selections. Reps are burdened by labor-intensive work. Consequently, departments are misaligned and pulling in separate instructions.

CRMs sometimes function as methods of document for corporations. However if you happen to’ve ventured into your group’s CRM, you’ll know that they’re not precisely a beacon of excellence in relation to knowledge high quality. CRMs are notorious for being out-of-date.

CRMs are sometimes incomplete and actually solely seize a small portion of the particular name. What are the percentages the rep enters the “most vital” elements of the particular name? Nicely, it doesn’t matter what, they’re doubtless shedding near 99% of the phrases spoken within the name. Equally as unhealthy, reps are spending hours of their CRM, re-writing conversations they’ve already had.

Think about the uptick in gross sales productiveness in case your reps might reclaim a couple of days per week to really do their job -— SELLWednesdays, Thursdays, and Fridays for promoting.

Gong’s Income Intelligence to the rescue!

We ❤️ our shoppers. We ❤️ our raving followers.

There. We mentioned it.

Hubspot. Sendoso. Demandbase. Uberflip. monday.com. Filtered. These are only a handful of organizations utilizing Gong.

Learn extra about how a number of the world’s fastest-growing gross sales groups are leveraging the insights gained from utilizing Income Intelligence.

If you’re nonetheless studying this (you’re), we hope your curiosity has been piqued. We hope you’re saying, “Uh yeah. That is fairly cool? I’m all in.” … or perhaps simply .

Both method, we’ll make it foolish simple to check out the ability of Income Intelligence. 

Click on that fancy button beneath, and let’s chat:

Get your Gong demo.

LEAVE A REPLY

Please enter your comment!
Please enter your name here