The name of the game in Revenue Acceleration is Digital Engagement. There are many forms of engagement that are now being captured (emails, chat, meetings, webinars, etc.), but offline events seemed to be beyond the scope of capture; however, Chili Piper, the calendaring company, has designed tools for scheduling meetings at trade shows and from trade show floors.
The new Chili Events service offers an “all-in-one Event Meetings Management solution for generating more meetings and maximizing ROI from in-person conferences and trade shows.” In short, Chili is looking to facilitate meetings and gather engagement data from in-person events.
As in-person events return, it is vital to gather registration data as event attendees are likely to be part of the demand unit. According to Chili Piper, “81% of conference and trade show attendees have buying authority.”
“In-person events are hugely important for B2B revenue teams,” said Chili Piper CEO Nicolas Vandenberghe. “With Chili Events, we’re making it possible for marketing and sales to not just automate booking conference and trade show meetings with key prospects and customers, but to treat those meetings like any other digital touchpoint in the customer journey, with quantifiable results and data.”
Chili Events features include URLs to pre-book meetings, meeting space availability, unified meeting calendars, automated reminders and rescheduling via email and SMS, and an event management dashboard. Chili Events are integrated with GSuite and Outlook365. Additionally, check-ins and no-shows are synced to Salesforce Campaigns.
Chili Events also supports meeting scheduling from trade booth floors via QR codes for mobile phones, computers at the booth, or register on the prospect’s behalf via Chili’s Instant Booker Scheduler.
Engagement intelligence supports multiple revenue acceleration features including engagement scoring, deal health signals, and deal risk alerts. It can also be used to identify and upload missing contacts in the CRM and build out the buying committee.
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.
Salesloft CEO Kyle Porter suggested that the answer to overwhelmed sales reps is not more technology and data but better-designed tools and workflows that address the “Revenue Performance Gap.” Salesloft’s Modern Revenue Workspace offers
“Proper insights at the right time
The ability to take action
The ability to communicate
The coachable moment”
Instead of a series of tools, Salesloft is positioning itself as one of Gartner’s “alpha platforms” that broadly ties together sales workflows and channels. Gartner noted a set of attributes of these platforms:
– “Alpha Platforms are hyper-aggressive vendors who are broadening capabilities at a breakneck speed.
– It’s not just M&A, some companies will evolve into alpha platforms by building capabilities. This is totally doable, they just have to be able to work fast.
– Alpha platforms aren’t necessarily buying competitors in the same category – they are buying into adjacent categories.”
“It’s a time to tell a new story about sales and provide you with a complete, digital go-to-market solutions your sellers and sales teams need,” said Porter.
According to Salesloft Chief Product Officer Ellie Fields, this advanced sales platform is “built for sellers.” It reduces workflow friction, allowing reps to “take faster action” and prioritize their time. The platform also serves as a centralized engagement hub with the “most critical tools for digital selling,” including email, phone, SMS, meetings, social, etc.
The Modern Revenue Workspace deploys data and AI within the workflow, delivering insights such as the most engaged prospects, deals at risk, and “trends that improve outcomes.”
The Salesloft platform acts as a hub for digital selling, driving alignment across the revenue team. Along with Deals, Conversations, and Cadences, the platform synchronizes data with a system of record (Salesforce, MS Dynamics, or HubSpot) and supports sales intelligence and workflows with over 115 ecosystem partners.
The new release is based on a set of advanced objectives:
Take Action Anywhere – Communications channels are available throughout the platform. For example, reps can call, email, book a meeting, or send an SMS message within the Deals view. Digital communications are then captured and analyzed, helping identify “the most engaged prospects, stalled but winnable deals, and trends that help revenue teams adjust course to improve performance.”
Know What Changed in Your Deal – Reports identify which opportunities were updated, how long the deal is in the current stage, and whether the close date or amount changed. For example, progression indicators are now displayed in Pipeline Review and Deals reports.
Enterprise Ready Conversations – Salesloft continues to enhance its communications channels with support for Microsoft Teams, native Zoom and WebEx support, improved transcription, and governance enhancements. The native Zoom support is more reliable than the previous bot tool. Salesloft also added Consent to Record for MS Teams and will be adding it for other platforms and its dialer. They also added English language recording announcements with additional language announcements in development.
The enhanced Conversations transcription engine offers “improved accuracy, searchability, and filtering” that helps managers and sellers “easily identify buyer and market trends and coaching opportunities to set more meetings, build more pipeline, speed deal cycles, and improve the chances of winning more deals.”
A new Conversations Summary is delivered to inboxes.
Unify Communications across Channels – Conversations in Activity Feed provide updates on important meetings.
Understand Outcomes across the Platform – Outcomes in Step Analytics identify which steps are working, helping improve Cadences.
Insights Anywhere – A Meetings panel on the home page summarizes pending meetings to assist with call prep.
Automate No-Show Workflows – New cadence workflows help reps reschedule missed meetings. A “partial show” workflow also provides the call hyperlink and summary to those who missed a meeting.
At a high level, the goal is to remove friction in the sales process by reducing the need to jump from app to app. Instead, reps can engage with shareholders and obtain insights from anywhere in Salesloft.
Future items include SHAKEN/STIRRED registration, native Google Meeting support, and Salesforce Event field logging.