Continuing from yesterday’s post that discussed revenue innovation and the Sales Execution Gap. Today I am discussing their new Outreach Commit and Outreach Success Plans.
Outreach Commit, based on their Canopy acquisition, offers sales analytics and forecasting capabilities that augment Outreach’s AI-based buyer sentiment and Success Plans, providing Outreach customers with “true visibility across the entire revenue cycle.”
“The use of deep learning and big data has the potential to transform B2B forecasting in the same way it has transformed B2C forecasting. Such changes are shifting the emphasis on forecasting from predicting the number to beating the number…Reliable activity data allows sales leaders, for example, to drive more rigorous pipeline reviews and estimate forecasts with greater confidence. It allows companies to discover and capture data about prospects and customers that previously lived in the realm of the ‘shadow pipeline’ — that murky world of secret selling that organizations have traditionally been blind to.”Forrester Research Principal Analyst Anthony McPartlin, “Enabling B2B Interaction Visibility In A Converging Sales Tech Landscape” (June 2021)
Commit provides a flexible forecasting model with multi-level views, allowing managers to view a probabilistic model of outcomes for multiple periods and teams based upon prior win-loss histories, current pipeline, and adjustable assumptions. Revenue forecasts are broken into Booked, Weighted Pipeline, and Intra-period high-velocity deals (i.e., projected new opportunities that are not in the pipeline but will close before the end of the period). In addition, models can be adjusted to account for events external to the model (e.g., new product launches, tradeshow held earlier or late in the quarter, economic shocks). The underlying KPIs that drive the models are selectable when setting them up, with the model updating every fifteen minutes.
Commit provides individualized rep scorecards based on company KPIs. Managers can set targets, coach to outcomes, and level up their team. Managerial note-taking helps them track 1:1’s, assign tasks, and track completion.
Commit supports active deal monitoring that flags deal risks and delivers insights. “Signals notify leaders of the things they need to know today. From opportunity risk identification to shifts in top of funnel metrics, Signals act as your eyes and ears–ensuring your frontline leaders are focused on what matters most to your business.” Deal risk is significantly reduced when issues are flagged early to reps, and managers can provide on-demand coaching to address nascent problems.
Commit also supports Custom Signals. Revenue Operations sets custom thresholds and unique parameters.
At a recent analyst briefing, Outreach management emphasized that they offer a tripartite value proposition: Engage (Sales Engagement), Guide (Kaia Conversation Intelligence), and Commit (Outreach Commit).
“To achieve predictable, efficient growth, every organization needs to engage with their buyers, guide their sellers through strong sales cycles, and then commit the number with confidence.”
Canopy deal terms were not disclosed. All nine employees have joined Outreach. The startup, founded in 2019, had raised $2.1 million.
Outreach also provided updates on Outreach Kaia and Success Plans at its Unleash event. Kaia, its Conversation Intelligence platform that was developed in-house, is adding real-time talk analytics, Comprehensive Search, Saved Search, and Outreach Voice Import. The new capabilities will be available by the end of the month.
Call analytics provide real-time talk-time visibility, letting reps self-correct if they are speaking too much.
Comprehensive Search provides managers with access to notes, content cards, action items, and transcripts across the sales organization. Additionally, both meeting platform intelligence and Outreach Voice cold calls are included. Thus, “leaders can identify trends and risks across teams and at various stages of the sales cycle.”
Saved Search Alerts provide scheduled intelligence on key topics, allowing managers to track competitors, pricing, functional requests, etc.
Outreach Voice Import supports post-call analysis of Outreach Voice and Microsoft Teams. Fully integrated support for Teams is scheduled for 2022.
Outreach warns RevOps not to trust the algorithm blindly. Instead, revenue teams should understand “the math behind every forecast to see what’s actually driving the number.” Accordingly, Outreach maintains the fidelity of data signals such as engagement and sentiment through transparency that displays “every opportunity and signals where sellers should take action.”
“Canopy’s Augmented Revenue Analysis engine combines advanced statistical modeling with machine learning and artificial intelligence,” states the Canopy website. “Simply put, we show our math. Instead of black box predictions, we show you every trend and variable driving our predictions, ensuring you have access to every data point necessary to confidently call your business.”
Users can also review “where you started and where you finished,” providing a post-mortem period review that “pinpoints slippage, forecasting variance, and conversion rates across any data point from any time window.” They can also generate “what if” scenarios with multiple assumptions.
Outreach Success Plans, which were announced back in May, will be generally available on October 27. Success Plans align buyers and sellers to improve action and predictability in a shared deal room. They act as a buying hub that allows buyers and sellers to agree on shared success criteria, objectives, and timelines. Success Plans also support shared access to project resources, allowing new demand unit members to quickly access project documents. Only invited individuals can participate in the Success Plans.
Success Plans provide an additional set of engagement intelligence for tracking deal risks and momentum. The Opportunity View includes Success Plan views, comments, resource downloads, and shares, providing engagement insights specific to deal planning and document sharing.
Outreach Success Plans deliver “unparalleled visibility into pipeline opportunities and risks,” blogged VP of Product Marketing Victoria Grady.
Outreach claims that two-thirds of buyers have “stopped working with a company mid-deal, simply because the competitor provided a better buying experience.” Thus, streamlining the document sharing process, framing the timeline, and agreeing on success criteria not only facilitates the process and improves deal visibility but improves the likelihood of winning each deal. Outreach supports 5,000 customers, including 19 of the 25 fastest-growing public companies and more than 60% of the Cloud 100.