AI-driven sales planning — Chris Cabrera // Xactly
- Part 1 AI-driven sales planning — Chris Cabrera // Xactly
- Part 2Inflation’s impact on budgets — Chris Cabrera // Xactly
Show Notes
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02:11High performing sales teams embracing AIHigh-performing companies are using AI throughout the whole marketing process. However, many other companies who say theyre using AI, are actually just using data.
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03:08AI driven sales and the importance of a robust datasetAI refers to computers finding patterns that humans cannot. Bigger datasets will enable the computers to be more effective at finding those patterns and better enable sales leaders, CEOs, etc.
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04:41What sets Xactlys proprietary dataset apart from othersXactly has 17 years of data and billions of transactions going through their system monthly. As a result, theyve amassed a large dataset, allowing their AI to be more predictive and prescriptive for customers.
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08:11Areas AI can be adopted to help sales leadersIn terms of forecasting and closing deals, AI can help CROs do better at sales planning. Theyre able to produce more data-supported quotas and can figure out how to close deals better.
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12:50Organizations adopting AI as a part of their sales planning processMost companies dont have the datasets necessary to do correlations between top-performing companies and determine the quotas. If they can find those types of datasets, they can get access to a roadmap on how to invest.
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15:15The evolution of the CRO roleUpcoming CROs are more willing to embrace the available technology. As more old-fashioned CROs become obsolete, the new wave of CROs understand that competitors are using technology, and they should also use it to stay ahead.
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18:19Planning on an ongoing basis vs planning annuallyMajority of companies do sales planning on an annual basis, in spreadsheets. The issue here is that the data isnt good enough to support all their assumptions, and the plan needs to be ongoing.
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21:59The main reason clients adopt Xactlys technologyInitially, clients approach Xactly because they have sales comp problems. However, new sales leaders are focused on profitability and the quality of revenue which spreadsheets aren't equipped to drive intelligent revenue.
Quotes
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"Everybody's doing every AI for everything. But, when you peel back the onion, a lot of it's not really AI, it's just data. You have to separate the two." - Chris Cabrera
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"The bigger, more robust the dataset is, the more valuable and effective those computers are at distinguishing and finding patterns that humans can't find. Its those patterns that are AI." - Chris Cabrera
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"Billions of transactions go through our system each month. And we've been doing this for 17 years. Think about how big that dataset is and how meaningful that can be in terms of being predictive on what works." - Chris Cabrera
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"Imagine you're a CRO and you've got 600 sales reps. Weve created a model that takes 80 different inputs and its able to say, this rep is at risk of leaving based on a whole bunch of inputs." - Chris Cabrera
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"It's important that people recognize how much a little bit of data, with a little bit of AI can literally change the dynamic of how people are forecasting and how deals get done." - Chris Cabrera
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"The least effective comp plans, when looking at actual empirical performance data, have 10 ??things that they pay on. We've seen some that are greater than 10 and performance just drops off a cliff." - Chris Cabrera
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"Its embarrassing that in 2022, people are still doing sales planning on spreadsheets in one and done, stick it in the drawer, once they get approval, manner. But, that's the majority of how people do it." - Chris Cabrera
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"There are still arguably more than 50% of the companies that are running their comp systems on spreadsheets or homegrown systems." - Chris Cabrera
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"Modern sales leaders are thinking about quality of revenue, not just quantity. They want profitability." - Chris Cabrera
- Part 1 AI-driven sales planning — Chris Cabrera // Xactly
- Part 2Inflation’s impact on budgets — Chris Cabrera // Xactly
Up Next:
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Part 1AI-driven sales planning — Chris Cabrera // Xactly
Chris Cabrera, Founder, and CEO of Xactly, talks about how revenue leaders can use AI in their sales strategy. Xactly is an intelligent revenue solution that has been in the game for 17 years. Over these 17 years, they’ve been able to gather a large amount of proprietary data, putting them a notch above the rest in terms of sales planning best practices. Today, Chris discusses AI-driven sales planning.
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Part 2Inflation’s impact on budgets — Chris Cabrera // Xactly
Chris Cabrera, Founder, and CEO of Xactly, talks about how revenue leaders can use AI in their sales strategy. When your forecasting tool isn't fully integrated with your comp tool and your planning tool, you’re essentially using siloed apps. However, to achieve long-term profits and growth in today’s market, the apps you use must communicate with one another and use data across the platform of apps. Today, Chris discusses inflation's impact on budgets.
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