Do you feel lost in your sales journey?
And wish there would be someone to guide you in your path?
We hear you!
Sometimes the sales process could get quite overwhelming due to tons of data. Data must be analyzed, assimilated, and organized to use effectively.
Data is the most precious asset because it contains the insights that form the base of your sales process. So how do you use data effectively to sell more?
The answer is – Revenue Intelligence Software.
The revenue intelligence software is a solution designed to tackle sales data analysis problems faced by sales teams. It uses artificial intelligence, algorithms, and automation to provide data-driven insights that’ll help you sell more!
In this blog, we’ll discuss how revenue intelligence software can help you sell more with the right use of data.
Without further ado, let’s get started!
What is revenue intelligence software?
Revenue Intelligence is an AI-powered, data-backed software tool that captures human emotions, sentiments, and intent to provide data-driven insights. These insights help to determine the critical factors in selling.
Astonishingly, 55% or more salespeople are guilty of not storing lead, opportunity, and customer data in their CRM. Sales reps who voluntarily spend time entering data spend almost 30% of their time each week manually entering data.
The revenue intelligence software works on three primary parameters:
Image: Show three primary parameters of Revenue intelligence software
Artificial Intelligence, Algorithms and Automation
Artificial intelligence in sales is booming rapidly because of the crazy data it generates.
Let’s say you have piles of data about your ideal clients, and now you want to pick the leads that’ll qualify. AI will do it for you in a fraction of a second.
are the set of rules that software uses to find the patterns that’ll work best for you. For instance, in split testing, the marketers experiment with several copies and headlines to finally choose the one that works best. It’s possible because of the well-captured patterns by an algorithm.
Manually uploading data into CRM can be a daunting task, and it takes hours of your time and energy that you can spend to grow your business. When the revenue intelligence software solution is implanted in CRM, it captures customer interactions. It provides ideas on strategies you need to work on to level up your sales.
The revenue intelligence software is not just a tool; it’s an idea, a concept. It can revolutionize sales in the coming years.
Who should use Revenue Intelligence?
CEOs can focus their revenue teams across customers most likely to convert. CEOs can use revenue intelligence software to foster a culture of growth and improvement.
Sales leaders can help account executives focus on the most likely to close sales deals. They can also perform sales forecasting to get accurate insights.
Sales managers can track the performance of new sales reps with the help of revenue intelligence software.
Sales reps are often newbies; they need guidance at every step of the sales process. Revenue intelligence software can provide insights that’ll make them confident with their approach by feeding them decision-making data.
The crucial function of the DevOps teams is to break the siloed patterns in the group and work together. The functional silos occur due to differences in the opinions of the team members. The revenue intelligence software breaks the functional silos within the teams by providing real-time data insights.
Why should you use revenue intelligence software?
Here’s why you should opt for revenue intelligence software
1. It makes the team’s tasks easy
The revenue intelligence software helps teams review hours-long tasks.
If a single SDR makes 100 calls daily, each of which is 45 minutes long. Consider a team of 20 SDRs: how many hours per week do they spend on calls?
Isn’t this a problem from elementary school? This is a real issue that salespeople encounter daily. Reviewing and offering comments on the entire team’s hour-long calls can be a nightmare.
SDRs, on the other hand, can report automatically with revenue intelligence. Sales leaders may also observe hour-long calls on the dashboard in seconds and provide comments.
This would genuinely assist SDRs in understanding the strengths and shortcomings of their teams. And, finally, offering effective instruction.
2. Align with your sales & marketing team.
Some team members may give their opinions about working in a certain way. But sales don’t work on one person’s views; it needs real-time data.
Consider a scenario where the objective of both the marketing and the sales team is to increase brand awareness. But, both team members are working on creative ideas in their minds rather than focusing on what the market needs.
With the support of revenue intelligence software, there’s no need to depend on a single person’s views because it provides accurate data from real people so that teams focus cohesively on one goal at a time.
Recommended Podcast: Importance of bridging the gap between sales and marketing
3 Makes the sales process proactive
With the kind of data-packed insights revenue intelligence software provides, it’s easy for the teams to sell proactively.
The workflow would look something like this:
- Once the sales call is done,
- Get feedback from the revenue intelligence software,
- And prepare a follow-up strategy.
This way, sales teams get sufficient time to prepare for the next steps.
How Honeywell used revenue intelligence to skyrocket their sales
Honeywell is a 115-year-old, publicly-traded, multinational corporation that leads multiple teams across the globe. It has spread its wings as an international leader in industrial automation, technology, and manufacturing, operating across 200 countries.
- The biggest challenge that Honeywell faced was the haphazard management of CRM. The CRM environment was disconnected across the business units.
- They faced difficulties in predicting both long and short-term sales opportunities.
- The teams were scattered and unable to perform with high accuracy.
- They faced difficulty in getting real-time data and insights. Plus, outdated call recording tools and untapped CRM licenses made it challenging to manage the workflow.
Here’s how revenue intelligence solved a problem
- Brought Alignment: The sales managers and teams were brought closer to work together and focus on resolving the same problem.
- Customized solutions: It has provided customized solutions with inbuilt columns and hierarchies.
- Focused on persona: The customer persona was vital to the sales strategy to win more deals.
- Tools to capture emotions: The revenue intelligence software captured sentiments and intent from the calls, emails, and web meetings.
Benefits for Honeywell:
- Saved a CRM cost of $1M and increased topline revenue to $100M+
- Increased the number of virtual customer encounters and sales pipeline.
- Due to better sales forecasting accuracy, sales leaders and managers shifted their focus from forecasting to team building and coaching.
- “Single pane of glass” solution
- That provided real-time business insight to each user.
Are you ready to become the next market leader?
Yes! You heard us right!
With the ninja power of revenue intelligence software, you can skyrocket your sales in no time!
Revenue intelligence software equips you with data-packed insights, directs the workflow, and simplifies your work by automating the time-consuming and monotonous stuff. Take a leap of faith in your sales journey, and invest in revenue intelligence software.