Upgrade to Pro — share decks privately, control downloads, hide ads and more …

Why Data and AI Matter in Sales

SugarCRM
October 20, 2021

Why Data and AI Matter in Sales

To find revenue success in this new world and grow, companies need to look towards artificial intelligence (AI) to find potential gaps in their customer journeys, speed up the sales cycle, and uncover new opportunities.

In this webinar with Stephen Hurrell, VP & Research Director of Office of Sales Research at Ventana Research, and David Campbell, Vice President of Product Marketing at SugarCRM, we showcased:

- Why a Unified Platform is Key
- The Value of Embedded AI and Analytics
- AI Approaches Today
- Next Steps: Key Questions for Technology Evaluation

SugarCRM

October 20, 2021
Tweet

More Decks by SugarCRM

Other Decks in Technology

Transcript

  1. Why Data & AI
    Matter in Sales

    View full-size slide

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

    View full-size slide

  3. © 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

    View full-size slide

  4. © 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

    View full-size slide

  5. © 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

    View full-size slide

  6. 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

    View full-size slide

  7. © 2021 Ventana Research

    View full-size slide

  8. 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

    View full-size slide

  9. 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

    View full-size slide

  10. 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

    View full-size slide

  11. 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

    View full-size slide

  12. 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

    View full-size slide

  13. • 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

    View full-size slide

  14. © 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

    View full-size slide

  15. © 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

    View full-size slide

  16. © 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

    View full-size slide

  17. © 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

    View full-size slide

  18. © 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

    View full-size slide

  19. 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

    View full-size slide

  20. © 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

    View full-size slide

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

    View full-size slide

  22. 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

    View full-size slide

  23. 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

    View full-size slide

  24. © 2021 SugarCRM Inc. All rights reserved.
    sugarcrm.com
    24

    View full-size slide