Research giant Forrester’s report New Tech: Revenue Operations & Intelligence, Q4 2021 is a tsunami of much-needed insight and information into a rapidly growing and constantly evolving category. They have dug deep into the tools available, and explored the expanding role they play in driving revenue in today’s data-driven world. Most significantly, Forrester’s research recognizes the approach of empowering peak performance by understanding and orchestrating buyer relationships to drive revenue acquisition and retention.
In this report, Forrester provides an overview of revenue operations and Intelligence tools that provide much-needed revenue operations and intelligence. They have dug deep into the tools available, and explored the expanding role they play in driving revenue in today’s data-driven world.
- What are revenue operations and intelligence tools?
- Revenue operations and intelligence is a booming sector
- The problem with revenue operations and intelligence tools
- The bounty of data opens the door to real customer insight
- Introhive included in revenue operations and intelligence report
What are revenue operations and intelligence tools?
The report defines the category as:
Technologies that leverage buyer signals and interactions to produce insights that allow go-to-market functions to continuously improve execution performance and optimize the revenue engine across multiple areas: engagement and productivity, revenue cadence and forecasting, and the overall optimization of the revenue engine itself.
It’s a mouthful, but what it means is that these tools provide data-driven insights into customer activities and communications that increase performance and productivity within revenue teams. They put nails in the coffins of old-school concepts of using gut instinct to guide sales strategy and cold calling, and replace them with fact-based strategic plans and warm introductions into prospective business opportunities.
Revenue operations and intelligence is a booming sector
The demand for these tools is booming. The Forrester report goes into detail about the huge amount of VC funding, M&A activity, and market demand and adoption for revenue operations and intelligence tech. These all indicate a category that has become a critical component of a company’s go to market system.
There are a variety of forces driving this high demand, things like:
- Buyer expectations
- Seller preferences
- The digitalization of sales
- The rise of revenue operations
New technologies like artificial intelligence and machine learning have given rise to the ability to analyze data in ways never before possible. This means that databases that were one simple repositories of information can now be mined for valuable insights that help direct revenue teams toward optimal paths to opportunity.
The problem with revenue operations and intelligence tools
A key problem with many revenue operations and intelligence tools: they tend to focus on the sellers. The tools are designed to help the sellers sell more. Which might make sense on the outside, but it misses the real point of selling, and in doing so gives the wrong focus to the tools.
The point of selling is not to sell your product; the point of selling is to provide the customer with something they need.
It’s the customers that revenue operations and intelligence tools ought to be geared towards, not the sellers. The focus should be on what can be done to optimize the customer experience to give them what they want and need.
Yes, enabling revenue teams to sell is important, but revenue operations and intelligence tools are most effective when applied toward the outcome of building trusted relationships and delivering outstanding customer experiences. Making your customers happy—making them feel respected, appreciated, and heard—will ultimately drive more revenue.
The bounty of data opens the door to real customer insight
The Forrester report describes in particular the rapid digitalization of sales, which makes vast amounts of previously unrecorded customer information available. The businesses that successfully capture and transform relationship and business activity data into actionable insights will have a competitive advantage.
All this customer data flooding into CRM creates a stream of digital exhaust—a trail of data breadcrumbs prime for capture and transformation into insights. This is exactly what Introhive does.
Introhive included in revenue operations and intelligence report
Introhive was named in the report as one of the late stage vendors (over $100 million in investment) in the space, and we have been there from the beginning as pioneers of revenue operations and intelligence with our Revenue Acceleration platform, which delivers revenue operations and intelligence tools to organizations of all sizes across the globe.
We do this by enabling both revenue teams and the existing technology they rely on to be more effective through a complete understanding of the customer’s needs. Introhive boosts customer service and satisfaction, and that is how we grow our customers’ revenue, relationships, and retention.
We believe we have helped shape the growth of revenue operations and intelligence tools as we have grown our Revenue Acceleration platform, and we remain excited to continue to help shape this important tech category.
Download a complimentary copy of the report here.