FORRward: A Weekly Read For Tech And Marketing Execs
Gong’s Latest Round Launches Revenue Intelligence Into CRM’s Orbit
Gong announced $200 million in Series D funding, following its $65 million Series C round in December of last year. Its $2.2 billion valuation undeniably validates revenue intelligence as an important technology category that helps companies harness the power of data and insights across a range of revenue-generating activities. Gong is the only unicorn in a category that has received over half a billion in funding in the past 18 months. People.ai received $60 million last May in a Series C round with a valuation of $500 million. Last month, Chorus.ai secured $45 million in Series C funding with an undisclosed valuation. Timing is everything. As businesses take on the challenges brought forth by COVID-19, there is increased urgency around deepening customer relationships, strengthening team-based collaboration, and leveraging insights to advance and close deals. Revenue intelligence solutions ingest data and apply statistical processes to inform decisions, make predictions, remediate data, and automate workflows across key revenue-generating activities and operations. This category will be featured in an upcoming Forrester Tech Tide™ report focusing on sales technologies.
Why Assume When You Can Ask? Brands Turn To Zero-Party Data
As we’ve noted in our research, personalization drives loyalty and customer obsession. But in their zeal to personalize, brands often make assumptions on customers’ interests and intent. When they assume wrong, it can lead to negative customer experiences that actually erode the relationship. Instead of guessing what customers are interested in, brands should engage the customer directly via zero-party data. This is data that a customer voluntarily shares with a brand that can be used to segment customers, tailor customer journeys, and conduct market research. Customers are more likely to share information about themselves if they receive a benefit in exchange — such as tailored product recommendations. Look out for our new report, which publishes next week, on zero-party data experiences. We’ll also be hosting a webinar on this research on August 26.
The Future Of Work (Re)Starts With Moviemaking
We’ve written that the reopening of work during phase 3 of the COVID-19 crisis will resemble science fiction. Now, Hollywood moviemakers have resumed production, beginning filming of the blockbuster sequel, Jurassic World: Dominion (itself science fiction). To address pandemic concerns, Universal Studios has created a two-tiered workforce: The outer tier — people working on construction and props, for example — will be required to wear masks and wash hands. But they’ll be largely sequestered from the closed-set “green zone,” in which cast and crew are isolated, required to be tested three times per week, and quarantined at a hotel that was rented out for the duration of the shoot. Such measures aren’t excessive; witness Major League Baseball’s struggles in comparison to the “bubbles” of the NBA and NHL. The latter have been far more successful. Balancing employee experience, safety, and effectiveness is a key 2020 pandemic challenge. For more information on how your own workplace might have to evolve, and insights into how you can address key pain points, read our report, “How To Adapt When Your Workforce Ecosystems Are Breaking.”