Outreach, the first and only Sales Execution Platform built for intelligent revenue workflows, announced a suite of new features designed to help sales and account management teams improve retention and expansion for enterprise customers. With Outreach’s latest release, account teams improve collaboration, gain full lifecycle visibility, and always take timely, relevant action that lead to account growth. These features enable revenue teams to take the right actions at the right times with customers, allowing for more cross-sell and upsell opportunities.
In the Sales 2024: A revenue data analysis report, Outreach found that 30% of companies expect expanding existing customers to be their primary source of revenue in 2024, while 38% expect a 50/50 split between net new and expansion revenue. However, nearly half (46%) cite customer retention as a top challenge to revenue growth – underscoring the critical need for robust sales tools and workflows that support retention and expansion efforts.
“Retaining and expanding current customers has never been more important. At the same time, customer expectations are rising, and organizations face tighter capacities and resource constraints on their customer teams,” said Abhijit Mitra, President of Product and Technology at Outreach. “As a result, each team member must understand customer interactions, opportunity history, and product adoption to effectively execute coordinated workflows that land, retain and expand accounts. Our latest release delivers full lifecycle visibility, while enabling teams to take relevant and timely action that leads to account growth.”
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Key additions to the Outreach Sales Execution Platform include:
- Full Customer Lifecycle Visibility – Display product licensing and usage data directly within Outreach (including competitive and complementary products). Licensing insights like value and volume of products and contract dates allow for easier multi-product selling, uncovering upsell or cross-sell opportunities, and even indicate ideal times to approach replacing the competition. Line-item forecasting allows for more precise forecasting at the product level and key metrics around customer health to facilitate proactive account retention and expansion strategies.
- Retention and Expansion Sequence Blueprints – Sequence blueprints for account management streamline workflows related to onboarding, customer training, NPS detractor management, and expansion. These pre-configured sequences enable teams to deploy strategies more quickly, ensuring consistent and measurable results.
- Time Based Triggers – Trigger tasks based on specific dates such as an upcoming renewal, account check-in, key milestones such as trials, implementation deadlines, or in relation to marketing communications and events.
- Custom Objects – Bring custom data into Outreach to unlock unique selling workflows by creating new sales automations triggered by changes in custom objects. Just like with standard objects, enterprises can create new sales automations triggered by changes in custom objects. For example, you can trigger an email sequence in Outreach when a prospect has been associated with a specific campaign in Salesforce.
- Smart Kaia™ Coach for Conversation Intelligence – AI assisted coaching at scale. Simply select a meeting recording for review and apply the appropriate card. Kaia uses AI to streamline coaching by identifying answers to questions. Furthermore, quickly understand what topics are trending in buyer and seller conversations.
SOURCE: BusinessWire