Video: 4 Mistakes to Avoid When Choosing a Revenue Intelligence Solution

LIndseyPlocekMindtickleVideoSeries

Episode summary

In this video, Mindtickle’s Director of Product Marketing, Lindsey Plocek, talks through the mistakes revenue operations leaders should avoid when choosing a revenue intelligence solution. She breaks down the difference between conversation intelligence and revenue intelligence and then dives into four common mistakes people might make when choosing a technology partner.

Key highlights 

Lindsey talks through the mistakes to avoid when choosing a revenue intelligence partner. Here they are:

  • Don’t focus on features focus on pain points you are solving and simplifying workflows
  • Don’t just stop it insights –  make insights actionable
  • Don’t just stop at the deal level
  • Don’t undervalue the quality of professional services

Video transcription

Hi everyone, I’m Lindsay and I lead product marketing for AI solutions at Mindtickle. Last time I came at you with some powerful tips lead discovery calls. And today I’m going to talk about four mistakes you should avoid making when choosing a partner for conversation intelligence or revenue intelligence.

Before I get into the four mistakes, I’m going to set the stage. So when I say conversation intelligence, I’m referring to technologies that record transcribe analyze sales conversations, sales meetings, as well as emails.

When I say revenue intelligence, I’m referring to using AI machine learning capabilities to analyze all of the activity taking place and actually predict what is going to close or not and deliver, you know, a deal score or an account health score. There’s some differences between these technologies.

But a simple way to think of it is analyzing interactions, and predicting what will actually close and how healthy your deals and accounts are. So when you are evaluating conversation and revenue intelligence partners avoid these four mistakes.

And the first is, don’t focus on features. Focus on pain points you are solving and simplifying workflows. The biggest mistake that I think people run into is they’re buying all these different sales technologies in silos. And as a former seller, that just takes time away from us being able to close deals. Your team has tool fatigue, they don’t want for 712 different places, they have to log in to get all the insights, training, and content they need to provide a better customer experience.

So when we think about sales reps, specifically, let’s think about some of the different things they need to be able to do with conversation and revenue intelligence insights:

  • Onboard and ramp faster
  • Better prepare for upcoming meetings without thinking
  • Get relevant coaching from their managers from their peers
  • Be able to self-coach
  • Share call snippets, transcripts, and mentions of competitors
  • Feedback on the product roadmap to share with other internal teams,
  • Know what content to send to a prospect or customer after an interaction
  • Easily and automatically update your CRM

So those are some of the top use cases. And of course, one is certainly using those deal and account health scores, to anticipate, which accounts you can grow to really understand those deal risks that might be deal blockers. But really put those people and those pain points first above those features.

Mistake number two, don’t just stop it insights: make insights actionable. Conversation and revenue intelligence are engines and their engines that need to ultimately power behavior change.

If you really want to maximize revenue growth and help your team win more. Insights only go so far right? We need to intelligently, as I mentioned, recommend content and training that’s going to help the rep work that deal or work that account better.

We need to give front-line managers tools to coach and sales enablement, teams, tools to bring in those best-in-class call examples, you know, to really train people. And a lot of times these these platforms are a really good way to measure the ROI of your enablement and your marketing efforts. So don’t just stop it insights make them actionable.

Tip number three, don’t just stop at the deal level. Think about the account-level view. A lot of products in this space just about deal coaching. They don’t factor in very complex enterprise, customized Salesforce instances or CRMs. They don’t let you manage multiple opportunities and ladder them up to a single account view.

But we are in the world of ABM marketing and ABM sales and you really need to give your team all the training content and insights they need to not just close deals but working grow accounts and that includes your CSM and your account growth roles, all of the GTM roles on your team. Right.

Tip number four: don’t undervalue the quality of professional services. And so that always starts with looking at the background of the people who are going to support your digital transformation.

And as I mentioned, conversation and revenue intelligence are not going to be working in a silo. So look for people with those backgrounds, but also backgrounds and things like sales, content management, training, enablement – all of the different things that are going to be integrated together to use this insight.

Look at if the company you’re partnering with provides really in-depth customer enablement, user conferences training, and things to get you started with these technologies. Look for things like content-as-a-service. If you are going to go beyond just using the insights to actually chain people look for partners like that.

And most importantly, look at someone who has a really good track record of working with enterprise-size brands to keep compliant managing user permissions and access to things like call recordings and emails. It’s very, very critical that you use the right partner to maintain compliance and in addition, really start to reduce the number of tools your team that that’s a biggie now for chief compliance officers.

So those are my four tips just to repeat them. You know, don’t focus on features focus on people and pain points and the workflows that you’re putting in place really streamlining and simplifying things for them. Don’t just stop at insights, make them actionable. Don’t just stop at the deal level, consider that account level view, and finally do not undervalue the quality of professional services, particularly when it comes to compliance. So I’d love to hear your tips as well please drop them in the comments or feel free to reach out to me and thanks for listening.


Want to learn more about revenue intelligence? Check out more posts from Lindsey outlining what to look for and how to select a revenue intelligence solution.