Gong Labs research shows revenue teams that use AI are realizing measurable improvements in productivity and growth
Teams that use Gong Smart Trackers for deal execution achieved 35% higher win rates; those using Gong’s Ask Anything realized 26% higher win rates
SAN FRANCISCO, Feb. 15, 2024 /PRNewswire/ — Gong, the Revenue Intelligence leader, today shared new research that shows revenue teams are driving significant value from implementing artificial intelligence into their workflows. The latest Gong Labs report, We measured the ROI of AI in sales… Here’s how it really impacts your deals, shows how customers achieved higher deal win rates when applying domain-specific AI capabilities across their revenue pipeline. The report analyzed more than one million sales opportunities across 1,418 sales organizations currently using one or more AI features within Gong.
The report looked at three AI-powered capabilities within the Gong Revenue Intelligence Platform and analyzed the correlation of teams that adopted these solutions to deal win rates. The findings showed a notable lift in win rates across deals of all sizes when these technologies were used across revenue teams. Results include:
- Deal win rates increased by 35% when Smart Trackers were deployed. Smart Trackers are the first user-trainable AI system that identifies the key characteristics of a deal by analyzing context vs. keywords. Smart Tracker insights allow teams to approach deals with a better understanding and increase the likelihood of success.
- Ask Anything, the first question-answer AI capability for revenue teams, delivered 26% greater win rates to teams who used it vs. teams who did not. Ask Anything helps revenue teams – from AEs to CROs – save significant time in reviewing key details about accounts and deals and accurately surfaces critical information for taking action.
- Email Composer delivers a big boost to rep productivity. Since February 2023, there has been a 464% increase in the number of emails teams compose using Gong’s domain-specific generative AI. This leads to meaningful productivity increases for reps who traditionally spend an average of 12.1 hours each week writing emails.
Payment platform Square uses Gong’s Smart Trackers to train its own custom trackers that understand the context of all customer interactions captured and analyzed in Gong’s platform. “Our sales cycles move extremely quickly, so we are always looking for ways to improve our teams’ understanding of the deals they are working on and improve how they sell into new accounts,” said Matt Lamb, Head of Growth Quality Assurance, Square. “AI-based Smart Trackers allow our revenue teams to get ahead of training needs and adjustments to sales methodologies. As a result of this smart guidance we’ve seen reps optimize their outcomes due to this investment in AI-enabled value selling.”
With AI adoption continuing to grow in the enterprise, companies must now prove the value of their investments. Gong’s new research shows meaningful value for teams that use AI to more deeply understand their customers and prospects. By delivering AI solutions that are trained on more than three billion customer interactions, Gong is helping companies improve critical revenue workflows that increase productivity, predictability and accelerate growth.
“As popular as AI is in the business world, if it fails to deliver true value to organizations, it will end up as just another overhyped technology,” said Eilon Reshef, co-founder and Chief Product Officer, Gong. “Our research shows that targeted AI solutions are delivering significant value for revenue teams and helping them close deals more quickly, and more often. The Gong Platform is all about increasing sales success for revenue teams, and our approach to integrating AI reflects that.”
Gong Labs is a research content series that explores the data captured by Gong’s Revenue Intelligence Platform to uncover the industry’s best sales insights and help revenue teams win more deals. For this report, Gong Labs analyzed more than one million sales opportunities across 1,418 sales organizations currently using one or more AI features within Gong. Differences in win rates were determined by comparing deals where AI functionality was used by the selling team compared to those without AI utilization.
About Gong
Gong transforms revenue organizations by driving business efficiency, revenue growth, and improved decision-making. The Revenue Intelligence Platform uses proprietary artificial intelligence technology to enable teams to capture, understand, and act on all customer interactions in a single, integrated platform. Thousands of companies around the world rely on Gong to support their go-to-market strategies and grow revenue efficiently. For more information, visit www.gong.io.
SOURCE Gong