The 5 Revenue Execution Platform Uses You Need to Know About

min read
The 5 Revenue Execution Platform Uses You Need to Know About

The buying experience is more important in 2024 than ever. According to research, 76% of customers will stop doing business with a brand after a single bad interaction. However, tracking and optimizing buying experiences has never been more challenging. Buyer journeys have become increasingly fragmented, as consumers bounce between touchpoints and devices on the path to purchase. This challenge becomes even more pronounced when consumers leave the digital journey and complete their transactions on the phone.

To compete in today’s marketplace, companies need to create seamless experiences that drive conversions and loyalty. This responsibility falls on the shoulders of revenue teams, but many are unable to deliver on it because of data silos and issues with marketing and sales alignment. To solve these challenges, industry leaders use revenue execution platforms.

Revenue execution platforms are software solutions that connect the entire customer buying journey. They work by bridging the data gap between the marketing team that engages customers and the sales teams that close the deals, creating a cohesive view of the revenue journey.

In this post, we’ll cover five impactful ways you can use revenue execution platforms to create seamless customer experiences that drive revenue growth and build brand loyalty.

1. Improve the Value of Phone Leads

To provide a seamless buying experience, you need to meet your customers where they are instead of forcing them into whichever conversion path is most convenient for you. Sometimes, customers who want to make an online purchase are forced to call you because they’re encountering barriers to purchase on your website. This creates a frustrating experience — especially if they have to wait.

Revenue execution platforms enable you to detect when your consumers leave your digital buying experience to place a phone call to your customer service team. These are critical moments when your consumers face potential barriers to purchase.

Once you’ve identified the pages that are driving digital abandonment, you can use AI to automatically locate trends from the calls. This will allow you to discover the “why” behind the digital abandonment on each page. You may learn that your checkout process is overly long and complicated, the online shopping cart was stalling due to a server or backend issue, or the page lacked critical information the caller needed to make a purchase.

After you’ve diagnosed the issues, you can make the appropriate changes to correct them. For instance, you can send a support ticket out to fix the technical issue with your shopping cart or update your product pages to answer callers’ FAQs. This will divert low-quality calls to digital and improve the quality of phone leads you send to your contact center. As a result, callers will experience shorter hold times and your agents will get to spend more time with high-quality leads who require their expertise to make a purchase.

2. Activate Call Conversion Data in Your Tech Stack

A major issue that prevents revenue teams from collaborating effectively is siloed data. Customer journey insights are spread out across many different platforms, leaving no central source of truth for marketing and sales teams to rely on. 

Revenue execution platforms can be instrumental in solving this all-too-common issue. A revenue execution platform isn’t just another tool to add to an already-crowded tech stack — it has deep integrations with the software your team uses every day. This allows marketing and sales teams to easily share data and collaborate to improve the customer journey. 

Below are some common revenue execution platform integrations:

  • Adobe Audience Manager: Enrich customer profiles with insights from phone calls, such as product or service interest to improve ad targeting.
  • Facebook Advertising: Track how many phone leads and conversions your campaigns drive.
  • Five9: Give your contact center pre-call insights about the caller’s digital journey to improve conversations.
  • Google Ads: Give the smart bidding algorithm the conversion data it needs to drive more high-value phone leads.
  • Google Analytics: Optimize your website experience to drive high-quality phone leads.
  • Salesforce: Automatically update customer records with insights from their phone conversations.

Check out Invoca’s full integration library here

Sample revenue execution platform integration with Google Ads

Success Story: Rogers Communications Drives More ROAS with Invoca’s Google Ads Integration

Rogers Communications uses Invoca’s AI to understand not just which customers convert over the phone, but the average value of the conversion for each customer type. They then feed this revenue data into Google Ads to inform Smart Bidding. Smart Bidding weighs their bids in proportion to their returns, decreasing their cost per acquisition by 82%. They also use Invoca’s call conversion data to inform lookalike targeting and suppression across their entire martech stack, so the right prospects get the right ads at the right time.

“The results with Invoca’s Google Ads integration have been phenomenal, to say the least. The benefits are constantly compounding with such minimal lift for the returns. I’ve never had a product where I spend more time selling people on the results than doing the work to get it going,” said Charlie Farrell, Senior manager of search engine marketing at Rogers.

Read the full Rogers Communications case study here

3. Give Agents the Pre-Call Preparation They Need to Close More Deals

According to our research, 47% of consumers expect a high level of personalization when they call a business. They expect you to know who they are and what they want without having to tell you again, and again, and again. 

PreSense helps you deliver these kinds of stand-out customer experiences. It gives contact center agents insights about the caller’s digital journey before the call begins so they can serve them better. Just imagine the difference between hearing “Hello, thank you for calling, before we get started can I have your name?” and “Hi James, I see you’re looking for high-speed internet. I’ll happily help you find a package that fits your needs.” This level of personalization can eliminate lengthy exchanges that irritate customers, waste valuable agent time, and drive up costs. It can also be the difference between a sale and a one-star review.

4. Automate Tedious After-Call Administrative Work

On top of answering droves of customer calls, your contact center agents have to complete tedious after-call administrative work like summarizing conversations and updating the CRM. After-call work eats up time your agents could spend on higher-value activities. These administrative tasks can also increase hold times at your contact centers or locations, as agents need to complete them before they can take the next call in the queue.

Revenue execution platforms can help you remove unnecessary administrative work from your agents’ workflows so they can focus on assisting customers. For example, Invoca can automatically send call outcome data, such as what a customer purchased, purchase amount, and more, to a CRM in real time, eliminating the need for agents to manually enter the information. It can also use generative AI to automatically summarize calls so agents don’t have to do this work themselves. 

5. Improve Contact Center Coaching with Deep Conversation Insights 

Your contact center agents are the voice of your brand — they’re often the first human interaction your customers have with your company, so you need to make sure they’re making a great first impression. This means doing quality assurance to ensure your agents are hitting the right talking points and adhering to your standards.

Some companies listen to a small sample of their calls to perform quality assurance and score agent performance. However, this method is flawed — your quality assurance is only scratching the surface of the calls you receive. It’s probably not an accurate sample size to truly assess agent performance — you could be catching your best agents on their worst days or vice versa. Not to mention, listening to hundreds of calls and manually scoring them is tedious and extremely time-consuming.

To solve this issue, leading contact center care teams use revenue execution platforms to automate call quality assurance. No two sales organizations are the same — that’s why Invoca allows you to set your unique criteria to score sales agent success. For example, you may want your sales agents to start with a greeting script, mention an upcoming promotion, and then ask the caller to schedule an appointment. The call scorecard uses AI to automatically detect which of these criteria are met on each call and assign a corresponding score. Invoca also allows you to track caller and agent sentiment, get alerts when call handling issues occur, and quickly dive into specific call recordings and transcripts for review.

With automated quality assurance, you can ensure that every phone conversation at every location lives up to your brand’s standards. Your agents will also receive instant and objective feedback about how well they’re performing. This will allow them to quickly make pivots to better serve and delight your consumers. As a result, you’ll build brand loyalty and drive more revenue.

Success Story: Kinetic by Windstream Drives More Revenue with Automated Call QA

In the past, the Kinetic sales team performed QA on only a small sample of the 30,000 phone calls they received each month, which led to inaccuracies. Now, with Invoca’s AI, they’re able to automatically QA 100% of phone calls, without any additional lift from their QA team. Invoca also gives Windstream’s sales team automated scorecards so they can see each agent’s strengths and areas for improvement. This gives supervisors more time to be analytical and focus on coaching, rather than listening to calls. As a result, the team drove a 40% increase in average revenue per sales call.

Read the full Kinetic by Windstream case study here

Download the Forrester Landscape to Learn More about Revenue Execution Platforms

Is your team struggling to track fragmented, multi-channel customer journeys? Revenue execution platforms are the missing link: they tie together online and offline customer journeys, allowing your marketing and sales teams to create seamless experiences. When you deliver exceptional customer experiences, sales and revenue growth follow.

Get The Forrester Wave: Real-Time Revenue Execution Platforms, Q2 2024 report here to learn more about the value you can expect from a real-time revenue execution platform.

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