Macroeconomic conditions have gone from challenging to outright negative for most companies in light of recession fears and rising interest rates. As bank failures and tightening monetary strings hit the headlines, enterprises need capital efficiency more than ever. Research from McKinsey and Company indicates that 2023 could witness a recession, the first since the economic crisis of 2007-2010.
Given the central role sales play in enterprise success, improving the B2B sales process can have a significant impact on bottom line performance. One Tel Aviv-based startup, Demoleap, believes a more efficient sales process begins with the reps, more so than with their managers. As such, the company has created a new way to enable sales reps based on real time feedback and analysis to boost in-call performance.
"In today's business world, enterprise sellers are under increasing pressure to deliver results with limited resources," says Itai Sinuani, CEO and co-founder of Demoleap. "They must engage with a less receptive buyer and operate within an organization focused on cost-cutting and resource optimization. Sales leaders must re-evaluate their strategies and find new ways to demonstrate value."
Plugging cognitive gaps
Sales is a high-pressure environment and modern organizations must add value in every interaction.
The sales enablement space, as a result, is crowded with tools that promise performance boosts, many of which focus on post-call analysis. Demoleap prides itself as being the only solution on the market focusing on in-call improvement for sales reps, in real time.
Its platform is used to essentially reinforce what reps learn during their training, which is, how to make a winning sales call. Sales reps, like all other human beings, are influenced by a plethora of external factors, such as memory, focus, amount of sleep received, etc., which all compound the existing pressure they're under to close deals. This "cognitive load" often takes a heavy toll on reps and negatively affects their performance, causing them to deviate from playbooks and miss critical customer cues.
"It doesn't matter how much money and effort organizations spend on the best-in-class offline learning and coaching tools because at the end of the day, we're all humans, and we are bound by the limitations of our cognitive capabilities," says Sinuani.
Demoleap aims to plug these cognitive gaps by providing reps with all the information they need to make the right decisions during calls. To do this, Demoleap accompanies each rep with a live "AI sales assistant" that reads product and verbal cues from the rep's web browser, transcribes calls in real time, and suggests the right course of action. By offering in-context feedback and real time assistance during calls - whether qualification, discovery, demo or onboarding - the AI sales assistant acts as a sort of in-call "coach" that is always available.
Enabling consistency with real time analytics
Demoleap highlights its real time nature as a critical difference maker in the sales process. The platform measures and generates analytics in real time and delivers prompts based on audience feedback.
"Our proprietary technology identifies cues from the seller's browser, and we use an AI engine to transcribe the meeting audio in real time," Sinuani explains. "Then, our continuously evolving algorithm prioritizes those cues based on intent indicators, which trigger the right content for the seller to follow the recommended playbook step."
The recommendations range from asking the right question, pursuing the right talk track, or presenting the right content. Reps of all skill levels can use Demoleap to elevate their performance, which can close the gap between high and low performers on sales teams and improve its overall productivity.
Reinforcing cognitive abilities is the key to success
In the highly intense world of B2B sales, there is little room for mistakes, especially in today's market. It's the little things that matter, whether it's hiring the right talent or applying the right sales tech software. Demoleap believes the key is to relieve reps of their cognitive load, freeing them up to focus on their goals and enabling them to provide that human touch which is so crucial towards building trust and lasting relationships with prospects.
As Sinuani concludes, "Demoleap is changing the way organizations think about sales enablement... Our aim is to empower all sellers everywhere, to consistently achieve exceptional customer engagement. As excited as we are about our platform, we have so much more to develop with many more real time capabilities on the horizon. We're really just getting started."
