Gong, a seven-year-old business that develops business-to-business (B2B) sales teams, has today launched a key new feature inside its frontline Reality Platform, called Economic Pulse. This new feature records, transcribes, and analyzes all sales calls, and then identify, tracks, and alerts sales and revenue leaders when economic trends are mentioned in customer conversations.
Economic Pulse allows sales managers to see how these changes are affecting deals over a period of time, recognizing potential hazards and allowing for swift action that can protect an opportunity and the overall pipeline, according to Badani.
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Badani said Gong takes a look at whats happening in those interactions and understands why it happened. She explains that it's not just that it happened, but that it's what's actually in the substance of those conversations. We then provide recommendations to the [sales] rep and the frontline manager leadership on what to do next.
Gong.io, which has raised $583 million in venture capital since its founding in 2015, already has integrations with LinkedIn and Salesforce and with sales intelligence providers Apollo, Clearbit, and Cognism.
Early identification of economic headwinds is key.
According to Gong, go-to-market teams need to be aware of headwinds that might impact deals, renewals, and ultimately revenue goals. It's also critical that they obtain early warning signals when talking with customers and prospects.
Economic Pulses' secret sauce is a good deal of keyword research. The SaaS-based platform comes prepackaged with a set of common economic uncertainty keywords such as recession, inflation, decline, and slowing economy, among others that are tracked in customer conversations.
Economic Pulse, a proprietary AI engine, automatically captures conversations, issues warnings, and gives executives drill-down analysis to see what deals are at danger, allowing them to take action before it's too late, according to Badani. The platform also learns over time and autonomously identifies additional words and phrases in the appropriate context related to economic conditions and the health of transactions.
Gong's chief product officer and cofounder Eilon Reshef said the last thing a business wants is to be caught off guard when market fluctuations impact their customers.
Along with MeetRecord, SalesLoft, Chorus.ai, Execvision.io, Wingman, Avoma, and Fireflies.ai, Gong.io is competing in a next-gen sales intelligence marketplace.
Economic Pulse is expected to include other customer touchpoints, including email and instant messaging, later this year, according to the company.