People.ai

Whether a byproduct of 2020, the “digital transformation” movement, or a combination of both, revenue intelligence is having a moment. The sales intelligence space is expected to reach 4.89 billion USD by 2027 with a market growth rate of 11.85% between 2020 and 2027. 

It’s not just the demand that’s on the rise. More and more, we are seeing “revenue intelligence” platforms popping up all across the sales tech landscape. Unfortunately, with so many different vendors making similar claims, it can be difficult for a sales leader to know what to look for (or, more importantly, what to avoid). 

That’s why we put together a list of the three biggest pitfalls of most revenue intelligence platforms and the questions you need to be asking to avoid them.

What is Revenue Intelligence?

Revenue Intelligence is an AI-driven, data-centric process that gathers, syncs and manages data across all your customer-facing teams to drive revenue.

Pitfall #1: Data Automation Floods CRM with Data

According to one report, 91% of CRM data is incomplete, with 70% decaying annually. To make matters worse, Gartner found that most organizations surveyed lose $14.2M USD annually because of “dirty” data.

So it’s not surprising that solving the data problem is a big draw for buyers looking to purchase a revenue intelligence platform. After all, more data is better, right?

Well, it depends. 

Because the real goal isn’t about just adding more data, it’s about adding the correct data. Sales teams don’t need a data dump. They don’t have the time nor the desire to dig through hundreds of different data points to come to a decision.

They need the right data at the right time to make decisions that will move the needle forward. Examples data points could include: 

  • Time spent on specific activities
  • Internal and external roles involved in each activity 
  • Measured engagement trends across contacts, opportunities, and accounts

When evaluating platforms, make sure you’re asking your vendors about the data they’re collecting and how they will make it actionable for your team.

Pitfall #2: Weak filtering exposes highly sensitive data

Two words no business leader ever wants to hear? Data leak.

If not, you may find yourself in a similar situation where 20,000+ employee 401K statements were accidentally synced to the CRM

As the desire to automate the manual process of capturing and storing prospect and customer data into their CRM grows, so can the risk.

While 80% of customer activity data (ex: emails, meetings, phone calls) should be captured in your CRM, the remaining 20% of what’s happening in your team’s inboxes is private and limited only to the participating parties. 

Filtering is vital to avoid ingesting too much sensitive information. Intelligent filtering helps to remove noise, such as:

  • All executive assistant contacts and activities logged in CRM
  • Emails sent and received from Human Resources departments
  • Hundreds of activities logged when people go back and forth deciding when to go for drinks after work
  • All kinds of marketing and spam materials that hit your reps inboxes 

The revenue intelligence platform you select needs to understand the nature of the content, the roles of the sender, and the recipient in the business process. This is a critical sticking point with any potential revenue intelligence vendor you’re considering, so it’s essential to dig in with them on their strategy for both detecting and redacting sensitive information. 

Pitfall #3: Mismatched Data Kills Productivity

If there’s one thing worse than no data, it’s “dirty” data. 

Considering the significant investment made in your CRM, the revenue intelligence platform you stack on top of it must be improving the quality of your data, not making it worse.

And while that may seem like a simple enough task, the truth of the matter is that most revenue intelligence platforms fall short when it comes to associating activities and contacts to the right opportunity or account record in CRM. 

Let’s take a look at an example scenario to illustrate why this is so difficult to get right:

Acme, Inc. is an existing account with two open opportunities: a renewal with a close date of December 31st and an upsell with a close date of September 1st. The most recent activity on the account is a CSM meeting held in May. 

If you’re thinking the CSM meeting would be associated with the renewal opportunity, you’d be spot on. Too bad most revenue intelligence platforms won’t come to the same conclusion.

That’s because most lack the ability to make sophisticated matches that take into consideration rules around role or ownership. Based on those exclusions, bad matches like the one illustrated above can be completely avoided.Which means when it comes time to start planning next steps, teams have the right signals to drive decisions.

As you’re evaluating platforms, ask your vendors to walk you through how they approach matching, what strategies they’re employing and how they’re ensuring that the correct information is making its way to the right place in your CRM.

QUESTIONS TO ASK YOUR REVENUE INTELLIGENCE VENDOR

  1. How do you capture activity data?
  2. What types of activities are you capturing, e.g., emails, phone calls, etc.?
  3. How do you surface activity data across other platforms, e.g., CRM?
  4. How “digestible” is the data surfaced?
  5. How do you detect and redact sensitive information from making its way into CRM?
  6. How do you associate activities and contacts to the right opportunities and accounts?
  7. How configurable is the logic used to associate activities and contacts?

Why People.ai Is Your Next Revenue Intelligence Platform 

If it’s not clear by now, let’s state the obvious: you can’t afford to take chances with your data. That’s why it’s so important to choose a revenue intelligence platform that puts the power of data back in your control.

People.ai is the world’s best revenue operations and intelligence data platform, delivering industry-leading data accuracy and enterprise-grade privacy, security, and configurability. With People.ai, businesses can:

  • Automate the capture of activity and contacts from all customer-facing teams 
  • Leverage patented, privacy filters to ensure sensitive data isn’t synced to CRM 
  • Accurately associate activities and contacts to CRM records to empower data-driven decisions across the entire GTM team 
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