If you want your revenue process to run seamlessly, you need to understand what happens at every level of your business. More importantly, you need these insights in one place so the entire revenue organization can align and execute on your go-to-market plan.
However, that’s easier said than done. Even with the right tools, managing your revenue operation is a process, not an outcome. So, how can it improve? What you need is revenue intelligence.
What is Revenue Intelligence?
Revenue Intelligence turns your data into actionable workflows to propel your go-to-market execution forward. Insights into your business, teams, territories, and deals are in one place so you can measure performance against operational metrics in one-on-ones, pipeline calls, team calls, and QBRs.
With Revenue Intelligence integrated into your cadences, predictable revenue becomes effortless. Let’s take a closer look.
Intelligence in Your Deals
Revenue Intelligence starts with your deals. You need to know if you're working the right opportunities and whether you’re deploying the right resources against them.
For every deal, it’s important to not only know if the prospect is engaged, but who is engaged—on your side and the prospect side—including any key decision makers that can make or break the deal. If you need to pull in an executive on your side to get the deal closed, you should be aware of that early so you can be proactive, rather than reactive to surprises late in the game.
Revenue Intelligence should allow you to evaluate what activity is taking place between both parties:
- Have you run any campaigns?
- Is the prospect responding to your emails?
- Have you set up any follow-up meetings?
Every deal that closes has many touch points across email, calendars, CRM, marketing automation, and other systems of engagement. Tracking this activity data in one place is the best way to make sure the deal crosses the finish line. Missing data creates inefficiencies that could be avoided.
With all this data at your fingertips, sales managers and reps can proactively discuss their active deals in one-on-ones. Based on activity signals, they can spot which deals are at risk, which deals could be accelerated, and which deals need more attention. Prioritizing the right deals is key to ensuring your team delivers on the go-to-market strategy and hits their quota.
Revenue Intelligence across Territories
Managing territories is challenging. Every account has a unique set of characteristics, and activity data is challenging to track down.
You run an analysis at the end of the year from your CRM—although we all know that data is incomplete due to a multitude of challenges. You hear what your revenue leaders and reps have to say about coverage, and you make the best adjustments you can to create equitable and effective territories.
However, without knowing what engagement looks like across accounts, you never truly know what is going on in your territories—and how to properly resource them.
- Are your reps overwhelmed by activity in some territories, but desperate for engagement in others?
- Do you have one or two reps carrying most of the burden?
- Is it time to hire additional headcount?
- Which accounts are neglected?
Knowing where your territories stand throughout the year can ensure that your team is delivering on the plan. And, in tandem, this knowledge can lead to seamless go-to-market execution.
With insights into all engagement across accounts, you can make changes to your territory in real time instead of too late. You always have a pulse on which territories need adjustments or additional support. Ongoing account reviews ensure that your territories are staying in alignment with your business throughout the year, not just at the end of the quarter.
Know what’s happening in your teams
Managing different personalities and approaches to sales can be a challenge, especially as teams work remotely due to COVID-19.
It’s hard to know where reps are spending their time, who doesn’t have enough pipeline, and how onboarding is tracking. Visibility into this information can transition team coaching from a painful process to a painless one.
With insights into email and call volume, response rates, personas engaged, and meetings set, you can tailor coaching to help your reps instead of interrogating them on where their business stands. When you have the data in front of you, patterns emerge. You can spot where reps spend too much time on opportunities with low win rates or little value, and too little time on those they could pull into the quarter.
Knowing your team’s weaknesses can help you strategize and support your reps to close more deals. Tracking successes can help you standardize your top performers’ approaches across the team. These insights empower you and your team to focus on strategy and execution in your weekly meetings and one-on-ones.
Tracking where your teams stand should not be hard—but without the right tooling, it’s nearly impossible. And, empowering you teams with this knowledge can catapult your reps to success. You can ensure that your team is executing like a finely tuned machine.
Know what’s going on in your business
If you know what’s going on in your deals, territories, and teams, you can run your business efficiently. You can make the strategic adjustments needed to ensure that your organization’s operating cadence aligns with your go-to-market strategy.
Execution becomes easy. It is clear where you need to increase investments, add additional support, and update your plan. Embedding this knowledge into your revenue process enables you to run your revenue operation with more predictability and efficiency.
Using a Revenue Intelligence System at Your Organization
If you want your revenue process to run like a predictable machine, you need more than just Revenue Intelligence. You need a Revenue Operations Platform that centralizes go-to-market insight and execution with:
- Revenue Data Platform to give you full visibility of go-to-market activity across all signals—including email, calendars, CRM, marketing automation, and other systems of engagement—over time.
- Revenue Intelligence to turn your revenue data into execution insights that track operational metrics for your go-to-market strategy.
- Revenue Execution to manage your forecast, pipeline, team performance, opportunities, and accounts.
We happen to know a platform that does exactly that. To learn more, read our ebook, “Putting Revenue Intelligence to Work: Insights That Drive Your Revenue Operations and Propel Your GTM Strategy.”