What Is Zoom Revenue Accelerator? Revamping Sales IQ

The complete guide to Zoom Revenue Accelerator

6
What is Zoom Revenue Accelerator Revamping Sales IQ - CX Today News
Data & AnalyticsInsights

Published: September 15, 2023

Rebekah Carter

Zoom Revenue Accelerator is just one of the updated generative AI tools introduced by Zoom in the last month. Specially designed for sales teams, the solution aims to rival competing solutions from brands like Microsoft, such as the new “Sales Copilot” offering.

Announced alongside the new “Zoom AI Companion” service (an upgraded version of Zoom IQ), Zoom Revenue Accelerator promises to bring the power of generative AI to contact centers everywhere. However, while the Zoom AI Companion is free to all users with a paid Zoom plan, prices for Revenue Accelerator are uncertain.

Currently, Zoom’s website encourages users to “talk to an expert” if they want to access the full features of the AI toolkit.

So, what exactly is Zoom Revenue Accelerator, and what can it do?

Here’s everything we know.

What is Zoom Revenue Accelerator

On a basic level, Zoom Revenue Accelerator is just a revamp of the former, less successful Zoom service, “IQ for Sales.” It builds on the same technologies used by Zoom for its companion app, including proprietary and third-party large language models.

Zoom IQ for Sales, or “Sales IQ,” offers users a variety of tools to help them review metrics, track their performance, and potentially improve productivity in the sales landscape. It could automate routine tasks like risk assessments and conversation summaries.

IQ for Sales could also gather customer data, track essential KPIs, and coach team members to improve their sales and presentation skills. Zoom Revenue Accelerator combines all of these features, as well as new generative AI enhancements, under a revamped name.

According to the head of AI applications and products at Zoom, Mahesh Ram, despite a 400% increase in sales over the first quarter after announcing Sales IQ, the solution didn’t generate as much hype as expected. The team and Zoom customers agreed that “Zoom IQ for Sales” wasn’t the best name for the product.

They believed changing the title would help reignite the interest of their customers while demonstrating their commitment to next-generation AI development.

What Can Zoom Revenue Accelerator Do?

While Zoom Revenue Accelerator builds on the previous capabilities of Zoom IQ for Sales, it’s not just the same product repackaged. The solution now has a more mature AI stack and more advanced generative AI features to offer.

Zoom has branded Revenue Accelerator as a comprehensive “conversation intelligence” software. According to the company, it will help organizations shorten deal cycles, enhance productivity, boost revenue predictability, and more, with insights from each crucial interaction.

Zoom has outlined several potential benefits the app can deliver to different sales team members. For instance:

Sales and Revenue Leaders

Leaders in the sales team will be able to access actionable feedback generated by an AI assistant. The solution offers comprehensive post-meeting analyses, including transcription highlights and engagement and sentiment scores.

Plus, leaders can access insights into deals by stage, size, team, opportunity name, and more, using analytics to track competition, number of interactions, and other metrics. Zoom will even help companies forecast more accurately, with insights integrated into your CRM to give context on deals that need attention, pipeline trends, and sales funnel opportunities.

Moreover, leaders can track words and expressions across customer conversations with proactive alerts that assess opportunity health and assist with positioning products in pitches.

Sales Reps

For Sales reps, the generative AI tools built into Zoom Revenue Accelerator should help to improve workplace efficiency. The toolkit can quickly take notes, summarize conversations, and add information to a CRM. It can also provide next-step suggestions and offer insights into talk-listen ratio, talking speed, and customer sentiment.

Sales Reps will also be able to use the AI tools to access a single source of truth for all conversations. Zoom says the solution will make preparing for sales calls, onboarding sessions, and collaborative meetings with the sales team easier.

Marketing and Sales Enablement

Marketing and sales teams working together can use Zoom Revenue Accelerator to access best-practice guidance, curated playlists of recording snippets, and training tools. Teams can also generate and compose messages and emails with Zoom’s generative AI tools.

Plus, the system comes with in-depth insights into engagement and performance insights to help you track which messages work best. There are tools to help you track competitor mentions if you need help separating your company from other leading brands.

What’s Next for Zoom Revenue Accelerator?

While most of the features included with Zoom Revenue Accelerator today are the same as those on Sales IQ, innovation is on the horizon. Zoom is already experimenting with access to chapter and meeting summaries created by generative AI to boost efficiency.

Plus, users of the Zoom kit will also be able to access the Zoom AI Companion to leverage smart compose features for emails, chat messages, and more.

Zoom AI Companion, similar to Copilot for Teams, can help users summarize threads and conversations, generate ideas for whiteboarding sessions and meetings, and automate important tasks. Soon, this solution will also be able to summarize SMS threads and Zoom phone calls, which could make it even more valuable to sales teams.

In recent months, Zoom has already announced upcoming enhancements to Zoom IQ for Sales, which will likely transfer into the new service. For instance, users can access a virtual coach, which delivers dynamic, personalized training to team members in real time. It can conduct objective assessments of performance and provide presentation and messaging tips.

Additionally, Zoom has introduced “Deal Risk Signals,” which allow companies to use rules-based engines to alert specific team members if a deal doesn’t move forward in a set period. There’s also a “Discover Monthly” service, which can uncover trends by tracking topics and competitors mentioned on calls and summarizing insights into visual formats.

Will Zoom Revenue Accelerator Improve on Sales IQ?

Zoom hasn’t released nearly as much information about its Revenue Accelerator toolkit as it has about Zoom Companion AI. With that in mind, it’s challenging to know what kind of impact the new solution will have on sales teams using Zoom.

Zoom IQ for Sales was already shaping into a pretty robust solution. It could provide personalized feedback after and during calls, help users make evidence-based decisions based on conversational context, and enhance seller productivity. It even kept track of calls, accounts, and pipeline stages for each individual user.

Since Zoom Revenue Accelerator will include all of the same features offered by Sales IQ, it’s likely to provide similar benefits. Right now, employees can already use the toolkit to get AI-driven guidance on improving sales pitches and asking more engaging questions.

If Zoom’s investment in new generative AI solutions continues, Revenue Accelerator could become even more powerful in the months ahead. Zoom might even introduce some new generative AI from the Zoom Contact Center to its sales tools.

For instance, Zoom recently introduced the new “Claude” AI assistant for its CCaaS solution, created in partnership with Anthropic. Though very little has been revealed about this new technology, Zoom has suggested Claude will “guide agents” with access to insights and information.

A similar kind of virtual assistant could make its way into the Revenue Accelerator program if Zoom continues down the Gen AI path.

How to Access Zoom Revenue Accelerator

Zoom Revenue Accelerator is available to access now on the Zoom website, alongside some helpful whitepapers and webinars created by Zoom. The solution will integrate with Zoom Meetings and Zoom Phone directly and will require a subscription to the Zoom service.

Overall, Zoom Revenue Accelerator seems to act as evidence that Zoom is listening to the feedback of its customers. The company is consistently taking steps to innovate and create tools that appeal to a wide range of contact center agents.

For now, however, we don’t have any clear insights into how much the service will cost. In the past, the Zoom IQ software extension added an extra $79 per host per month to the subscription fees. However, now that Zoom is introducing Zoom AI Companion for free, there’s a chance the pricing could be a lot lower.

Interested companies can contact the Zoom team for a quote.

CCaaSGenerative AIUCaaS

Brands mentioned in this article.

Featured

Share This Post