The current macroeconomic environment calls for leaders to be hyper-aware of their end-to-end revenue process to spot risk, find gaps, and eliminate revenue leak.
What is revenue leak? The result of breakdowns in the revenue process. It represents money your company has worked hard to earn but hasn’t captured.
14.9% of a company’s revenue is lost due to revenue leak. As companies consolidate their tech stack and reduce headcount, fewer resources are available to stop that number from wreaking havoc on the business.
Many companies rely on conversation intelligence to identify potential leak, including call reviews to help reps handle objections, shorten sales cycles, and forecast with greater accuracy.
Clari recently hosted a virtual roundtable featuring Clari Copilot customers. We sat down with:
- Joe Bozzo, Global Sales Manager at Vizion
- Rohit Dey, Director of Sales - Americas and Europe at VWO
- Dan Plottner, Head of Global Sales at Fidel API
- Zack Woods, Director of Sales and Development at Alchemy Cloud
They discussed the value they see with Copilot and the ways they harness the power of conversation intelligence data. Here’s how they went from simply recording calls to using actionable conversation intelligence to achieve revenue precision.
Passive conversation intelligence can’t stop revenue leak
Most traditional conversation intelligence tools are passive.
They record calls so managers can listen and coach their reps after the fact, but at that point, it’s too late. No amount of coaching after the call can un-lose a deal.
The coaching process is painful. Traditional conversation intelligence records and transcribes calls, but doesn’t help sales managers take action to help their reps. That puts a heavy burden on sales managers who already don’t have enough time in the day to search for calls, dissect them, and figure out what to do with the call data.
How can frontline managers coach their teams and empower them to win more deals? By arming them with the insights they need to nail every call, every time.
Coach your team to victory from anywhere
Almost 300 companies are doing this today with Clari Copilot. More than a glorified call recorder, Copilot coaches reps in real time and enables them to collaborate more strategically with their managers and have better conversations with prospects. With Copilot as a part of Clari’s Revenue Platform, you can manage your call data where you manage your revenue, and scale best practices across your sales organization.
“We had scaled up a new team of AEs and BDRs, and we realized that coaching is much harder than it looks,” said VWO’s Rohit Dey. “We work in different time zones, so you’ve got to find time, understand what your reps are saying on calls, how much time they’re spending on calls, who is talking the most, and how are they handling objections.”
Coaching reps at scale is key to growth, but the global nature of revenue teams makes it a stressful endeavor.
“We’re a 100% remote organization,” said Vizion’s Joe Bozzo. “So we're challenged with timezone differences and language barriers. So when we talk about cross alignment or cross-functional collaboration, we're faced with the goal of really bringing people together.”
Simply recording calls isn’t enough to help managers coach effectively and bring their teams together. Here’s how they can improve that process.
Make your revenue process easier with actionable conversation intelligence
Managers can’t be on every sales call all at once to support their reps. Copilot removes this burden from managers and equips reps with the cue cards they need in real time so they are ready for any objection or revenue-critical conversation.
“What impressed me was the fact that Copilot was starting to offer capabilities like competitor intelligence,” says Dey. “So I could have a list of my competitors and show up on my inbox every day and see where one of our competitors was mentioned, and my new reps get a pop up that shows battle cards against competitors. Those are some features that I felt would really up our game when it comes to selling on the phone.”
Being prepared to handle objections and differentiate yourself from the competition is only half the battle. Reps still need to understand the pains of their prospects to truly provide value.
“I had no idea what the difference was between call recording versus conversation intelligence,” said Woods, Director of Sales and Development at Alchemy Cloud. “I do now. We had a real gap in our tech stack that we knew we needed to fill because of the global nature of our team. And then we needed something to fill this gap of knowledge on cold calls. We need something to fill this gap on solution mapping to really understand pains of the client.”
With actionable insights, reps don’t have to go it alone. The entire organization can leverage conversation intelligence to collaborate throughout the sales cycle and provide value for prospects across the entire revenue process.
“Copilot allows you to go back, dig deep into the items you may have missed when driving to those customers’ pain points,” says Bozzo. “The cross-functionality invites other great minds from other internal business units or geographies to really participate, and that all hands on deck approach and proper procedure ultimately leads us to having less revenue leak.”
Improve forecast accuracy with CI
Armed with the insights needed to successfully execute the sales process, reps and managers can also leverage this data to forecast better too.
One way to do this is pipeline forecasting. This method looks at each deal in the pipeline and calculates its conversion rate based on pre-set data variables, such as opportunity size or a sales rep’s win rate.
Traditionally, this process would be a guessing game. Managers would have to manually have reps submit forecast calls then parse through a number of spreadsheets for the best guess at numbers. Or, the technologically advanced sales team, would sift through the CRM to see all the opportunities their reps are working on and pray that their reps had been vigilant about updating the data. That’s like pulling teeth.
With actionable conversation intelligence within Clari, managers can easily stay up to speed on all of their reps’ calls, and reps can roll up their own forecast more easily.
“The piece that we use a lot is where we are in a deal from a pipeline forecasting perspective,” says Dan Plottner. “It’s very easy across a global team to look at pipeline and see how many calls and emails we are having back and forth. So from a forecasting perspective, I find it’s a really good way to quickly have a VP level view without having to go deal by deal and do a quick review. This allows the team to better forecast their own deals.”
Stop revenue leak with Copilot
When managers spend precious hours listening to call recordings and providing after-the-fact coaching, revenue leaks from the funnel. Actionable conversation intelligence provides the coaching insights and sales governance teams need to stop revenue leak in its tracks. Watch the whole recording here to find out how.
See a demo today to learn more about Copilot’s actionable conversation intelligence.
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