The #revenue platforms market continues to evolve rapidly. This is due to several factors—namely that most businesses are continuing to transform their #business models to better support a “retention-focused” economy and that businesses must rethink their #growth strategies in the wake of this development. Revenue platforms, which previously focused solely on sales actions, need to accommodate more stakeholders along the journey, including #customer-success in addition to other postsale departments.
This means that revenue platforms are evolving to include more datasets, and data sources, to better support a full-journey approach to growth. In addition, the workflow capabilities need to expand to support more end-to-end processes and experiences—incorporating task management that spans #Sales, #Marketing, Customer Service, and Customer Success.
And finally, just as in many other sectors, artificial intelligence (#AI) is changing the game. AI can bring more predictive insights to revenue teams as well as streamline productivity by automating many of the more mundane and low-impact actions sellers and other revenue stakeholders perform on a daily basis. Also, generative AI (#GenAI) tools can help build revenue platforms into more intelligent full-journey tools that ideally help better orchestrate engagement in such a way that no potential growth opportunities get lost in the shuffle.
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Video Transcript (Disclaimer: this transcript has not been edited and may contain errors)
Hi. This is Martin Schneider, Vice President and Principal Analyst at Constellation Research. Wanted to talk to you really quickly about my new market Overview Report, which is called revenue platforms, how AI and focus on full journey are changing the game? One of the reasons why I came to constellation is because there's this really interesting transformation happening around a big area of tech, around sales automation, rev ops automation, and even, you know, just CX in general, where we're really transforming from these kind of commoditized and very transactional systems of record to really transformational, really supporting a full journey growth optimization strategy that companies need to have to remain competitive in this day and age, right?
So what we're really seeing is tools like AI are making not just smarter systems, but really joining up with workflow and other capabilities to create this kind of just in time, joined up full journey concept where we're really, you know, able to kind of predict how our growth is going to happen in ways that we really couldn't before we went from a big focus on kind of net new sales and really leads and the pipeline and conversion metrics and things like that, being the KPIs that matter to really looking at this full journey, holistic growth concept, it's very new, and not a lot of people have mastered it yet, and that's why, and kind of that's why I'm here.
But really, you know what we're talking about is there's some new kind of buyer requirements and new challenges we need to be thinking about when we look at our revenue platforms, and which ones are really platforms, rather than point solutions. I go over the vendor landscape and look at about more than a dozen vendors in this report, and really how they kind of hash out in terms of that platform scalability, as well as that full journey and AI focus that's really needed to be effective moving forward. And then I talk about a lot of best practices that you can be thinking about when you're either deploying a revenue platform for the first time and making that selection, or trying to optimize existing tools that you may have among the shortlist that also recently came out for revenue platforms that I just put out last week.
So check out on the Constellation Research website. Grab the report if you can, and if you remember, if you're not, become a member, because this is some really transformational stuff, and it's just the beginning. So I'll be talking a lot about this and writing a lot about this. Thank you. Applause.
