Why Data & AI Matter in Sales

Why Data & AI Matter in Sales Stephen Hurrell Ventana Research David Campbell SugarCRM

© 2021 SugarCRM Inc. All rights reserved. 3 © 2021 SugarCRM Inc. All rights reserved. Everyone is on mute Questions are welcome Recording available Before We Start

© 2021 SugarCRM Inc. All rights reserved. Sarita Kincaid Senior Global Analyst Relations Director SugarCRM sarita.kincaid @sugarcrm.com Presenters David Campbell VP of Product Marketing SugarCRM dcampbell @sugarcrm.com Sarah Friedlander G. Director, Content & Creative SugarCRM sarah.friedlander @sugarcrm.com Stephen Hurrell VP & Research Director of Office of Sales Research Ventana Research stephen.hurrell @ventanaresearch.com

© 2021 SugarCRM Inc. All rights reserved. • Introduction • Why Data and AI Matter in Sales • Trends in Market • Utilizing AI & Analytics to Address Issues • AI and Analytics Dependent on Data Quality • Perquisites for Success • Examples of AI and Analytics for Maximum Impact • The Sugar Approach to AI • Recommendations to Buyers and Customers • Q&A Agenda 5

Why Data Matters for CRMs The Importance of Data in Utilizing AI and Analytics for Revenue Growth Ventana Research Market View @ventanaresearch In/ventanaresearch blog.ventanaresearch.com Stephen Hurrell VP & Research Director, Office of Sales © 2021 Ventana Research

© 2021 Ventana Research

Revenue model • Retention, Expansion, New Importance of customer lifecycle • Lead, engagement, sale, onboard, sustained adoption • Cost of acquisition • Customer profitability Increasingly competitive markets • Pandemic impact on direct sales • Asymmetry of information between buyers and sellers • Importance of customer experience • Trust advisor and partners Trends in Market © 2021 Ventana Research

Sales • Lead scoring • Opportunity scoring • Next best actions Customer success • Support and service optimization • Satisfaction • Churn risk Expansion • Identify opportunities • Cross Sell and Upsell Utilizing AI & Analytics to Address Issues © 2021 Ventana Research

Historical CRM Data lack of quality • Reliant on manual entry • Errors and latency Siloed data • Between marketing, sales and service • Difficult to link customer lifecycle AI and Analytics Dependent on Data Quality © 2021 Ventana Research

Data quality and relevance • Automatic data capture to avoid manual entry • Communications - mail, voice, text • Meetings via calendar • Key word capture (e.g. competitor mentions) Data integration • Across customer lifecycle • Automatic linkage Time intelligence • What’s changed • Trends Data enrichment • Third-party, not just CRM Prerequisites for Success © 2021 Ventana Research

Embedded Analytics • Pre-packaged rather than custom • Link insight to action AI • Predictions linked to action • Adoption plan and demonstration of value to users Self reporting on: • Savings • Gains Prerequisites for Success © 2021 Ventana Research

• Lead scoring on likelihood to convert • Opportunity scoring on likelihood to close • Sales next-best action • Sales playbooks and communication optimization • AI assisted forecasting • Customer churn prediction • Upsell and cross opportunities Examples of AI and Analytics for Maximum Impact © 2021 Ventana Research

© 2021 SugarCRM Inc. All rights reserved. The Sugar Approach to AI 14 Artificial Intelligence The power to see the future, Time-Awareness leveraging a complete historical record, Data Enrichment and a greatly expanded perspective, Embedded Delivery without the time, cost, or technical expertise. Unprecedented predictive insight for all companies

© 2021 SugarCRM Inc. All rights reserved. Transportation Company Segment their large contact database and market to them based on likely to purchase scenarios – from VIP regular buyers to occasional customers. • 120,000 contacts and growing • Segment database manually VIP & Other • Use AI-based predictive lead scoring to divide “Other” segment into tiers • Create multiple digital marketing strategies based on “Likely to Convert” AI analysis 15

© 2021 SugarCRM Inc. All rights reserved. Mid-Sized Manufacturer Large partner network complaining about quality of leads being sent to them by the manufacturing organization. • Launched a new pipe valve product • Moved Business Development team under marketing • Use AI analysis of Leads & Opportunities to create daily call lists for the team (no touch required) • Prioritize leads that are most likely to convert to sales 16

© 2021 SugarCRM Inc. All rights reserved. Wealth Management Advisory Company Turnover in call center led to wide variation in service agent skills. Too often, needs for agent-level improvement were unidentified until after high- value account relationships had suffered. • Use AI to analyze voice and chat conversations for customer and agent sentiment • Auto-escalate critical customer situations • Identify problems areas for additional training and enablement 17

© 2021 SugarCRM Inc. All rights reserved. SugarPredict AI Engine 18 Pull leads & opportunities from the past to present SugarPredict Embellish with third party company data to build richer lead profiles for AI understanding Use AI to build predictive models for Lead Interest, Lead Fit, and Lead Conversion Back-test on actual leads & customers to determine model accuracy Time-Aware Analysis No-Touch Data Enrichment Predictive Model Build AI Model Testing

Buyers should validate • Automatic data collection • Data integration across life cycle • Automatic linkage • Prediction and recommendations linked to action • Management vs. front-line users • Proof of value in real-life examples Customers should seek • Help with adoption and usage of AI • What third-party data is right for your industry • Vertical and specialist insight Recommendations to Buyers and Customers © 2021 Ventana Research

© 2021 SugarCRM Inc. All rights reserved. Whitepaper: Why Data and AI Matter in Sales 20 www.sugarcrm.com/resources/ventana-why-data-ai-matter-sales

© 2021 SugarCRM Inc. All rights reserved. Q&A 21

Why Ventana Research for Business Success 1. Have 25+ years of experience and expertise with research across business and technology areas to provide full market guidance. 2. Independent content from dedicated professional teamwork of analyst, research, product and client professionals. 3. Actionable and interactive digital content designed to be web responsive and brand embeddable to adapt for mobile consumption patterns. 4. Market Research infused content with subject matter experts aligned and trusted by the buyers for over 17 years. 5. Provide a superior client experience that delivers value of services in the most efficient manner possible. © 2021 Ventana Research

Engage and Learn More on Office of Sales Twitter @ventanaresearch @shurrellvr © 2021 Ventana Research LinkedIn http://www.linkedin.com/company/ventana-research https://www.linkedin.com/in/stephenhurrell/ My Analyst Perspectives http://stephenhurrell.ventanaresearch.com Participate in Sales Planning Research https://www.ventanaresearch.com/dynamic_insights/sales/sales_planning/survey/ Learn More about Office of Sales https://www.ventanaresearch.com/sales

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