The early adoption of revenue intelligence platforms has just recently begun simply since brands across the globe were having issues to get a true value out of the sales information in their existing CRM software.
Powered by advanced AI capabilities the best revenue intelligence platforms are coming to solve several problems the modern startups and enterprises are suffering from:
- Get more done with AI
- Unification of siloed and outdated data
- Suggestions and predictions to improve existing work methodologies
With early adopters within this particularly new category we can see that the revenue intelligence category is booming with over 6 Billion dollars in TAM (total addressable market).
That being said, a recent Forrester study discovered that companies using revenue intelligence platforms are more than twice as likely to over-perform their sales goals and exceed their quotas.
What is a revenue intelligence platform?
This relatively new category was established by Gong.io, and in its core Revenue Intelligence platform allows capturing of your customer interactions across phone, web conferencing, and email, then it processes the data and understands what was said in these interactions, and delivers insights to help your team sales to win more deals.
The best Revenue Intelligence Platforms aim to help B2B sales teams to build better relationships, in order to drive a more data-driven and predictable revenue growth. Thanks to the adoption of Revenue Intelligence Platforms, Sales Teams can now improve sales forecasting by proactively identifying opportunities at risk, and have better visibility of your pipeline with accurate, up-to-date insights generated from the different interactions between your sales team and your customers.
Nowadays, many will consider a Revenue Intelligence platform as an inevitable part of their sales software arsenal as it combines and provides different insights from different conversations that happen at every channel your brand is using to communicate with its customers.
The benefits of using a revenue intelligence platform
Now that we know what a Revenue Intelligence Platform is, and a little bit about the way it changes the entire mindset of sales and marketing teams in the B2B SaaS space, let’s take a look at what are the actual benefits you gain by implementing the best Revenue Intelligence Platform for your business.
The ultimate alignment between marketing and sales
Everyone is aiming towards the perfect alignment and this very unique collaboration between marketing and sales teams, the one that we only see rarely only in the most successful brands across the globe. This is one thing the right Revenue Intelligence Platform can help with!
Revenue intelligence keeps both marketing and sales teams on one line about customer trends, prospects, and the best means of customer interaction. It eliminates any confusion surrounding how to approach customer relations, by having a clear plan for each prospect.
Perfecting sales pipeline forecasting
Revenue intelligence is best known for providing sales professionals a complete overview of what is happening within their company and from which channels their revenue is actually being generated from.
This unique ability to collect data from various sources across the company and track the role that each data point has in the sales process. This gives a huge benefit to anyone within the company who is looking to predict sales pipeline performance and revenue. By doing so, company’s automatically increase the accuracy of predictive sales forecasting.
Better outreach in terms of outbound efforts
One of the major challenges sales teams are facing is to make sure that they are targeting the right prospects or accounts to drive more meetings and potentially more sales. Understanding prospect outreach allows sales teams to see which of their outreach campaigns are actually working and optimize their cadences around a more revenue-driven mindset, allocating their different resources on opportunities that are more likely to buy in.
The best thing is that the right revenue intelligence platform is evaluating how engaged a prospect is based on a series of factors or goals.
Boosts team productivity
Monitoring the activity of your sales team is often considered to be a tedious task, but it becomes even harder when they work remotely and you need a robust solution to help you monitor their activity, that’s exactly where Revenue Intelligence Platforms gels in.
Revenue intelligence platforms provide real time actionable insights into sales activities across all team members allowing sales professionals to spot where issues arise and address them ASAP. This will help to optimize their performance by ensuring that sales reps are not spending their time on opportunities with low or no value and are targeting more engaged accounts with better chances to close.
Having this power to understand where your sales team is doing great and where they need some improvements will help you create a winning team that is constantly growing, improving, and most importantly hitting their quotas.
6 Top revenue intelligence platforms you should get to know
After we successfully outlined the major benefits of having the right Revenue Intelligence Platform for your business, it’s time to find out who are the top players within this booming, yet, relatively new category, and to help you find your next software to skyrocket your revenue goals.
Gong is the first company that created the Revenue Intelligence category.
The platform captures and understands every customer interaction, then delivers insights at scale, empowering revenue teams to make decisions based on data instead of opinions.
Ebsta empowers thousands of companies to drive customer engagement at scale with a suite of customer intelligence & sales enablement tools for Salesforce.
Marketing, Sales & Customer Success Teams use Ebsta’s revenue intelligence platform to provide customers with a more seamless, personal and engaging experience throughout their lifecycle with their company.
BoostUp’s contextual revenue intelligence platform utilizes buyer signals to provide actionable insights that are easy to digest. With BoostUp, your entire revenue team has the insights needed to drive predictable revenue through predictable, efficient, & reliable forecasting.
Auryc is a customer journey intelligence platform that presents real-time insights with powerful visual context across all of your digital ecommerce journeys.
Auryc helps enterprises find and resolve the customer journey issues that directly impact conversions and customer satisfaction.
With Jiminny you get smarter insights into customer conversations that empower your sales teams to grow and win more deals.
Jiminny is well known as a platform for all customer conversations. Record, transcribe and analyse your sales team’s successes and learnings so that your team is empowered to collaborate, coach and improve revenue effortlessly.
Chorus Revenue Intelligence Platform identifies and helps revenue teams replicate the performance of top-performing sales reps by analyzing their sales meetings. These insights serve as the foundation of an effective coaching strategy for sales and customer success teams and provide insight into the voice of the customer across the entire organization.
Other things to look at when consider to implement a revenue intelligence platform
You already get a good feeling on which revenue intelligence platform you’re going to implement but what are the different things one must look at before starting to evaluate and purchase their next revenue intelligence platform? Luckily, we prepared these points to consider especially for you, so you can be more prepared and make a better decision regarding your next best software.
The ability to analyze performance and track the different sets of KPIs is a HUGE game changer in terms of the new age sales teams using Revenue Intelligence Platform.
The Revenue Intelligence software reports data to your CRM to reveal different sales insights and forecast future performance. Sales teams and Sales managers use this type of analytics to gain visibility into sales activities; locate high or under-performing salespeople, products, or communications; and forecast future sales numbers.
By integrating to your existing TechStack, Revenue Intelligence Platform can easily pull and push important data that’s been generated from all your customers interactions through any supported channel. Supported channels and important integrations you should be looking at are: email, your live chat software, SMS, social media accounts, and basically any channel you use to conduct conversations with your prospects and customers.
Recordings, transcripts, and trends capabilities
One of the major benefits in having a Revenue Intelligence Platform in place is its unique ability to record, digest, transcript and identify trends within your sales team interactions with potential customers.
After the Revenue Intelligence Platform is able to record the interaction, it will then suggest relevant improvements so your sales team will be able to use it and improve with time.
Some other important features you should look at:
- What actionable insights are you getting?
- Does it have a customizable dashboard?
- Does it have any call scoring model in place?
- What are the types of alerts and or notifications your team will get?
- Can anyone on your team have pipeline visibility features, or only managers?
If you’ll have the answers for the above mentioned question answered, you can rest assured that you did the best research after the right Revenue Intelligence Platform.
Considering the fact that Revenue Intelligence is a relatively new category we can see a growing trend and increase in the adoption of these platforms especially among revenue driven teams regardless of the company size or the industry it serves.
The first in this category Gong.io are doing an incredible job in terms of their branding and are currently valued to $2.2 billion as last announced raising their Series D funding round.
With so many vendors, and features, the best revenue intelligence platform is really helping brands and their sales team to stand out from the crowd and deliver an outstanding customer experience that results in the expansion of their sales pipeline, bottom line revenue, and a better and functioning organization.
We truly hope we managed to help you in your endeavor choosing the best Revenue Intelligence Platform for your business.