Announcing Revenue Attribution: The Fastest Path to Predictable ROI
At the end of the day everything a sales team does is about driving revenue. And it’s critical for sales leaders to understand how every action and investment on their team works toward that goal. If you don’t have visibility into which activities are driving revenue, you can't guide your team through the right activities and steer them away from low value tasks.
However, for far too long sales teams have only been able to measure activity with vanity metrics, which means you’re flying blind when it comes to tracking which activities are actually driving the results. Activity metrics — like emails sent, click rate, and meetings booked — are important indicators of success, but you can’t single out which activities are moving the needle on business results.
We’re on a mission to go beyond the status quo by enabling something that’s never before been possible: connecting your sales activities with revenue so you know which strategies are working, and you can invest your resources where they will have the highest revenue lift. By integrating Outreach activity data with Salesforce Opportunities, you can now see which sequences and sales activities influence your pipeline and determine which drive the most revenue lift.
The result: a lean, mean, revenue efficient team with the data that gives you confidence you’re investing in activities that drive revenue or the insight to veer away from activities that don’t.
Let’s look at how our customers are accomplishing this today.
The First Step: Enabling Attribution with the Right Reporting
To attribute activities to revenue, it’s key to have the right reporting in place. Today, our customers are able to do that with Outreach’s Engagement Panel and Salesforce.
For example, a top ten telecom company wanted to test out their new account-based strategy on Outreach. They wanted to accurately measure ROI from this new strategy without leaning too hard on vanity metrics — like activity count — that don’t actually measure revenue lift. With Outreach revenue attribution, they were able to measure the impact of this new program: their earliest adopters have attributed 50 meetings, 15 opportunities, and over $200k in pipeline to actions taken in Outreach in only 6 weeks.
The results of their new program are impressive on their own — $200K in pipeline you wouldn’t otherwise have is nothing to shake your head at! But the real power here is that without revenue attribution, this customer wouldn’t actually know how much this new business strategy is moving the needle. This customer would have measured success by their increase in emails sent, or reply rate, or meetings held, without actually knowing what the ROI of the program was. Knowing that their program is definitively driving revenue lift, they can confidently move forward investing more and rolling out their new approach to other teams.
Think of all the times you’ve made a huge, strategic business decision based on indicators, not results. Now you don’t have to. With insights like these, you can invest in the activities that mean the most to your business and back up the decisions you make with data.
If you’re interested in learning more, sign up for early access here.
Amplify: Where Revenue Attribution Meets Machine Learning
Revenue attribution on its own is a powerful tool. However, couple revenue attribution with machine learning and you have an unstoppable source of intelligence backing every move.
By augmenting revenue attribution data with the power of machine learning for sales, we are delivering an entirely new way to measure the ROI of every action you take. This will not only let you know how certain actions influenced previous opportunities in the past, but will use your historical data to make intelligent recommendations on the best path forward for each prospect in each sales cycle. And, the more you work within Outreach, the more our models will learn about your business, resulting in better predictions and recommendations over time.
Amplify is already providing insights that drive measurable lift for our early adopters. For instance, Amplify analyzed the way different reps at Glassdoor were handling objections, and the impact these actions had on revenue.
Glassdoor’s playbook told their reps to prioritize positive responses because those were the ones that would convert. Reps could respond to the negative responses if and when they had time because they were thought to have a low probability of converting.
However, with Amplify we found that, while objections don't convert as well as positive interactions (3% conversion vs 9%, respectively), those that do convert can constitute a sizable source of revenue. In fact, the analysis showed us their top performing reps were the ones who immediately replied to all objections, regardless of intent. This change in behavior alone is expected to drive a 5% lift in revenue for their team.
“The real power of machine learning is that it can help you uncover the small changes that have sizable [revenue] lift. This one blew my socks off.” Kamal Suffoletta, Global Head of Sales Development, Glassdoor
With revenue attribution and Amplify, we can enable teams to optimize every action they take for every situation and persona, using data rather than gut instinct.
The Future of Revenue Attribution with Outreach
Our goal is to make revenue predictable and measurable. Every prospect in your target market has a revenue potential to your business. We envision a world where your system can accurately predict the potential of each prospective customer and their probability of closing, prioritize your outreach, and prescribe the steps you should take to win each new opportunity. As we continue to invest in revenue attribution and machine learning, Outreach will be helping our customers maximize ROI by optimizing each area of their sales workflow. Our key areas of focus going forward:
- Connecting sales activities to the revenue they influence throughout the entire sales process
- Allowing you to test different sales strategies and tactics and measure lift
- Providing your teams with insights and recommendations in their workflow based on historical revenue lift trends
Every action has the potential to unlock new revenue for your business; however, certain actions can be more powerful than others. Gaining visibility into which activities, messages, and strategies drive the best results is the foundation of revenue efficiency.
We are committed to making ongoing investments in mapping revenue attribution in the most intelligent way to empower your team to increase revenue efficiency, improve forecasting, and optimize their actions to drive better results more consistently. When you know what works and have the data to prove it, you can focus your team in the right places and optimize their performance like a well tuned machine.
Already an Outreach user and interested in learning more? Sign up here for early access.
New to Outreach? Get a demo today.