Sales Engagement Platform Groove expanded its analytics with new revenue intelligence capabilities that support real-time opportunity and pipeline management and expanded ROI reporting. The new capabilities support pipeline reviews with a single pane of glass workspace populated with real-time Salesforce data.
In its 2020 State of Sales Report, Salesforce stated that “High-performing sales teams are 1.5 times more likely to base forecasts on data-driven insights.” Ensuring that data is accurate, timely, and complete has long been an issue with CRMs, requiring sales reps to spend hours each week recording their activities and updating account, contact, lead, and opportunity data.
Sales Intelligence platforms have picked up the slack around CRM data, offering DaaS prospecting and enrichment services. Likewise, SEPs capture most sales rep activity data, reducing activity tracking overhead; however, updating opportunity data and evaluating opportunity risk remain a significant automation gap.
Maintaining Opportunity data, which is critical for pipeline reviews and forecasting, is made more difficult by the data structure of CRMs. One common complaint about Salesforce is the difficulty of viewing and updating opportunity data, which is fragmented across accounts. Revenue Intelligence tools from Clari, Revenue Grid, SalesLoft, and Groove simplify the data update and review process by providing a centralized interface for updating the pipeline and reviewing it with managers. Updates are immediately written back to Salesforce, simplifying the pipeline management process and ensuring that current opportunity data is instantly synced in Salesforce.
While Clari and Revenue Grid focus on Revenue Intelligence, Groove and SalesLoft attack the issue from a Sales Engagement perspective. This functional overlap between categories has been evident since SalesLoft acquired Costello in 2019 and integrated Costello’s revenue intelligence capabilities. While Sales Engagement Platforms began as multi-channel messaging services for SDRs, they have significantly broadened their scope to include Analytics, Guided Selling, Engagement Metrics, Meeting Management, and Revenue Intelligence.
Anthony McPartin, Forrester Principal Analyst in Sales Operations, described the widening scope of these categories. “This notion of the sales engagement platform as a cockpit for sellers is likely to continue to drive further integrations between other sales tech categories and these platforms as the advantages of bringing everything to the seller where they sell (the original vision for CRM technology) become more widely recognized.”
Revenue Intelligence Platforms have also expanded their scope, assisting with opportunity risk assessment, deal forecasting, conversational intelligence, and buying team discovery.
Out of date and incomplete information is a significant issue for B2B decision-makers. According to a July 2020 Forrester study, two-thirds of B2B decision-makers are hampered by stale, distorted, or limited CRM data.
“From incomplete sales activity data to out-of-date information stored in shadow CRMs, there are many challenges that prevent sales organizations from trusting their pipeline and conducting comprehensive reviews. Today’s release solves a critical usability challenge that Salesforce users have faced since the platform’s inception, in a way that establishes transparency and trust between the rep and the seller.”Groove CEO Chris Rothstein
“We had major issues with getting our sales teams to document what they were doing in Gmail, and this is where Groove really shines,” said Bart Johnson, Director of User Engagement & Training at Aquent. “Groove isn’t just a huge timer saver for our reps, it also gives them ‘cross-vision’ into the different orgs and groups selling into [each] account.”