The opportunity for partners to participate in the AI market is omnipresent and significant. In Canada, we are leading the way, locally and globally, in amplifying human ingenuity with AI. Irrespective of industry, whether healthcare, finance, manufacturing, retail, government, or education, organizations of all sizes are exploring how to leverage AI-based capabilities to modernize their operations, improve their customer experience or more broadly, enable themselves to become a digital business.
AI will not only create endless business opportunities for partners, but also will provide competitive advantages and tremendous benefits to those who are leading.
As I indicated in my post “The incredible AI opportunity for the Canadian Ecosystem”, we have some incredible work being done by our partners to lead with AI, that we wanted to share. As the forth in a series of “unplugged” Q&A, I’d like introduce Nudge.ai, and have some thoughts shared from Jaxson Khan, Head of Marketing.
About Nudge AI, and their core business
Jaxson Khan: Nudge.ai is the leading relationship intelligence platform to access new accounts, analyze deal risk, and measure account health. Nudge.ai integrates with the tools that sales teams already use with zero setup required, including Outlook. Tens of thousands of B2B professionals rely on Nudge.ai to find and nurture relationships that generate and accelerate pipeline. Nudge.ai provides a comprehensive relationship intelligence solution for an organization, from a sales development representative, to an account executive, to front-line sales managers and sales executives.
Key use cases:
Drive pipeline through rapid target account access – Nudge.ai’s relationship graph automatically matches sales with the best connection to accounts and decision-makers
Increase response rates through personalized outreach – AI driven insights give sales the latest information from internal systems and millions of public data points so businesses can stand out to their prospects
Increase close rates by preventing deals from slipping – Nudge.ai’s relationship analytics allow businesses to see – at a glance – which current accounts and future deals are at risk. The platform analyzes deal risk through precise relationship strength measurement, so that businesses have multiple relationships with the ‘buying committee’ of an account.
Nudge.ai’s customers have already achieved notable results including $1M of net new pipeline (a significant ROI) and its insights for users have led to 6-figure deals when all other tools failed. In a world where sales automation, robot-dialers, and thousands of marketing and sales tech solutions have pushed ‘hustle’ to the extreme, Nudge.ai stands out by applying the latest AI technology to the fundamental foundation of ‘relationships’ in B2B and enterprise sales.
Thinking about your business, what type of customer/buyer do you target? Is there a specific functional area that you focus on?
Jaxson Khan: Nudge.ai primarily serves B2B sales teams, particularly those that build and maintain high value relationships. Nudge.ai also enables customer success and account management teams to engage and retain customers. Nudge.ai particularly excels in the verticals of B2B technology, professional services, and wealth management.
How have the advances in Artificial Intelligence helped your business grow?
Jaxson Khan: Artificial intelligence has enabled Nudge.ai to process and learn from millions of data points. We build models to help provide the most accurate and relevant insights on the market about business relationships. Artificial intelligence is core to the Nudge.ai and we incorporate significant amounts of machine learning.
Generally, when you engage with a new customer, what is the key business challenge(s) they are looking for your help with?
Jaxson Khan: Business challenges include:
Avoid single-threaded accounts
Accounts where sales only has one strong relationship (“single threaded”) are high risk accounts. Nudge enables sales teams to identify those accounts proactively, and understand who they need to build relationships with in order to go broader and deeper in order to secure a deal.
Long cycle deals
Long cycle deals are a major challenge in sales. When there is long term interest, but no immediate deal in play, sales needs to stay in touch. They must remain relevant and educate the buyer over time.
To help do that, Nudge monitors long cycle accounts and relationships, ensuring that sales never loses touch. Nudge also allows teams to share powerful messages – that have worked – in order to keep long cycle relationships engaged. The goal is simpler and more effective outreach.
Complete workflow integration
Nudge snaps into existing sales tools and workflow. It enables companies to bring target account lists from CRM automatically and have a daily brief on the best accounts to call on based on recent events. This enables teams to be more effective without changing the tools that they use.
Understand pipeline health
Nudge simplifies deal forecasting by providing visibility to sales as to if they have built relationships with the key people in the buying committee, so that deals can get done.
Nudge gives an accurate assessment of pipeline health – where teams are “single threaded” with just one strong relationship in an account. This enables sales to see where they lack access to the right roles in the buying center – which deals in forecast are most likely to slip.
Improve sales performance
Managing with raw activity metrics gives a poor indicator of performance. Nudge instead shows a team’s ability to grow relationships and trust in each of their accounts.
Analysis can highlight gaps in relationship coverage. Those gaps can be quickly resolved by using Nudge to give sales teams full visibility into the relationships of the entire company, from executives all the way to service professionals.
Rep ramp, rep replacement
Sales rep turnover, whether voluntary or involuntary, is a natural part of sales leadership. Losing momentum in a territory, however, is something that can be easily prevented.
Nudge enables companies to understand exactly where previous reps had relationships, and had been able to gain traction. This allows new sales reps to move into existing territories by starting them with the knowledge and relationships of the prior team member.
Is there a specific customer that you would highlight where you’ve had a direct impact on their business outcomes?
Jaxson Khan: General results: Nudge.ai’s customers have already achieved notable results including $1M of net new pipeline (a significant ROI) and its insights for users have led to 6-figure deals when all other tools failed.
Recent Wall Street Journal feature:
Cindi Stevenson, sales director at Insperity Inc., a Houston-based provider of human-resources and other business services, says her company last July deployed an automated sales assistant designed by Nudge Software Inc. that scours Twitter, Facebook and other social-media data for potential sales leads.
“It has already paid off, big time,” says Ms. Stevenson. “All this intel and data is out there in the universe, and you have to go find it.” The firm’s 450 sales reps have “too much on their plates to go digging into every prospect’s Twitter feed every single day,” says Ms. Stevenson.
Toronto-based Nudge has about 20,000 users spread across thousands of different companies, says Chief Executive Paul Teshima. Using AI, the platform “helps identify which relationships need attention and what’s going on in their world, so you can prioritize sales reps’ time,” says Mr. Teshima.
Lastly, what are your thoughts on the future of AI and its impact on society?
Jaxson Khan: Our view on artificial intelligence at Nudge.ai is that it can actually help us to be more human. In its earliest applications, AI is already enabling us to get past what is typically regarded as grunt work – tedious, repetitive, lower skill tasks – such as scheduling, research, data entry, and other tasks. So if AI’s able to handle the bulk of this work, it means we’ll have more time in society to build relationships, be creative, and focus on innovation.