When you launch a product, there’s always a bit of hold your breath, wait and see. Sure you’ve tested it, but established relationships are much different from broad market availability. That’s what makes the momentum surrounding the InsightSquared Revenue Intelligence Platform—featuring six integrated solutions in 1—so powerful.
It’s been just over a month since our GA and we couldn’t be more excited to report very strong momentum with already more than 100 customers signed up for the InsightSquared Revenue Intelligence Platform. The need for an integrated Platform has never been more clear!
What is behind this momentum? It’s the ability to go beyond reporting to deliver advanced analytics, which help customers take action that accelerates the business, including:
- Drive accountability down to the Sales Rep … Specifically data hygiene and forecasting!
- Easily identify dying or dead deals by leveraging machine learning.
- Spot real upside deals within the quarter to de-risk and meet your forecast commit.
A complete Revenue Intelligence Platform should unite several key technologies, addressing first and foremost, the data and analytical limitations that have long hindered Ops teams.
At InsightSquared, we incorporate a new level of data and the corresponding level of analytics to your business. The result is true Digital Transformation of the sales process that is accelerating at a pace previously not possible. Those who take advantage will see the impact quickly, while those who delay risk falling behind the competition.
There are five elements that are critical to developing your Sales Digital Transformation Strategy:
1. Robust Activity Capture that is broad and deep
According to Gartner, 80% of sales interactions will be digital by 2025. Top sales teams recognize that capturing these interactions and leveraging the data for predictions, process improvement and coaching is critical. However, success is dependent on both the quality and quantity of data. You will need to capture these digital interactions without burdening the sales rep.
Emails captured separately from call recordings will not help your team improve. Call analysis separated from forecasting, again will slow coaching and improvement. Likewise, capturing seller activity without aligning executive engagement or SE involvement, will leave you sub-optimized.
With the addition of Conversational Intelligence, InsightSquared goes both broad and deep, capturing all the engagements from all the personas. Remember, if you are only capturing AE engagements, you’re missing out. If you are only capturing the Opportunity stage, you’re missing out. If you are only logging emails and contacts, and ignoring phone calls, you’re missing out. With InsightSquared, there’s no more missing out.
2. Advanced Analytics to understand the “Why” and “How”
Winning is great. But understanding why and how you win – so you can repeat it – is even better.
That’s why we launched Advanced Sales Math. Within just a few weeks of deployment, our customers receive their first machine learning-driven Advanced Sales Math insights—an interactive dashboard that identifies the inflection points in a company’s unique sales cycle where they win or lose deals. Key moments include:
- Number and type of activities that translate to a win;
- Profile of conversations for winning deals; and
- Marketing lead effectiveness by source, deal type and segment
Our goal is to take your revenue intelligence to the next level to ensure sales leaders know exactly where to focus their attention and coaching. With next level analytics you spend less time search and more time improving processes to boost funnel health, stage progression and win rates.
3. Machine Learning to validate human inputs and improve forecasting
Meeting your forecast commitment is critical to staying the role and yet we are still dependent on human inputs and judgement to assess the quality of the funnel to cover the commit. We should be leveraging every datapoint to validate your plan before you step into the boardroom.
The new scale of data is too much for any human or excel spreadsheet analytics. It requires a new data lake architecture, a correlation/context engine and machine learning capability so you can analyze complex, unstructured, custom objects, digital interactions and more into an analytical engine to support your analysis of the business.
Of course the top line number is only step one. A strong Revenue Intelligence Platform should allow you to drill in deep and understand the meaning behind the calculations. Machine Learning can deliver a weighted pipeline, projected monthly bookings, manual forecast, and historical trends with likely ranges of outcomes for each.
4. Self-Serve, Custom Report Insights to reduce time spent reporting
Being able to run your own reports and view your own data without having to wait for an internal Ops or IT resource, is essential if you want your sales managers to make data-driven decisions.
Operations teams now spend up to 30% of their time responding to data requests, and waiting for analytics slows down execution. The InsightSquared Revenue Intelligence Platform offers flexible, easy and FAST real time filters for delivering real time reports. You can filter data and update insights all without any coding or business analyst assistance.
The library of best practice reports makes this process even easier, giving you a view of what questions you should be asking your team, even if it wasn’t a metric you tracked in the past.
We also allow users to modify dashboards based on your sales Hierarchy. This means you can create role-based designations and adapt the analytics of your forecasting reports as well as all revenue intelligence reporting and analytics. Want to analyze activity by team? Or by a specific rep? Easy. By default, we use the CRM role hierarchy, but you can also take advantage of our self-hosted custom hierarchy.
5. Conversational recordings, transcripts, trends and analytics integrated into other revenue operations
Data hidden in silos that can’t be analyzed doesn’t count. As we discussed above, the most successful revenue teams—the ones that will be meeting and exceeding their numbers in 2021—will be the ones with the richest dataset. Those datasets need to be integrated and analyzed as one. That’s why Conversational Intelligence has moved from a “nice to have, stand-alone tool” to a “must have, integrated component” of a Revenue Intelligence Platform.
This is a big change. In fact, as call recording/transcript tools emerged, they were frequently owned by Sales Enablement. However as the ability to analyze the data alongside other revenue processes arrived, we’ve seen a big push for Ops to own the process and optimization, to ensure their team is looking beyond pure coaching to get much more out of these tools.
The reality is the analytics are much more valuable than the recording. Think about it. The life-span of Conversational Intelligence recordings is days. With machine learning, the analytics can deliver benefits for many quarters to come.
We’re thrilled to see the excitement around the new Revenue Intelligence Platform and look forward to bringing more users on board. Want to see if for yourself? Request a demo today.