I have no affiliation with Chorus.ai. I read about their Series A funding in February and upon learning about their solution, I was intrigued enough to request a demo.
Again, I only had a single brief demo, so I’m no expert. But, essentially, what Chorus.ai does is record and automatically transcribe meetings so that they can be used for review and coaching/training purposes. It also syncs to SalesForce; which is awesome, assuming that what syncs are the meeting notes or a summary of the transcription (full transcription could be too much).
“If I have a thousand ideas and only one turns out to be good, I am satisfied.” — Alfred Bernhard Nobel
In any case, I’m sure they have plenty of ideas to spend the newly minted $16M raised capital. Here are my 5 ideas for Chorus.ai:
- Give a Free (or very cheap) Single License to Very Early Start-ups. When it is early and there is no sales team, the early conversations with customers/prospects can be the foundation of training for the first sales hire. It’s hugely valuable for a new rep to hear the real pitch in action, the reception by the prospects, the objections and the overall context of how these conversations go. Founders can also get outside coaching from Advisors. And lastly, as the company grows and builds out its sales force, Chorus.ai is already part of the fabric of the company, up-selling to regular seat licenses (or whatever the model) should be easy.
- Offer a Self-Serve Single Seat License. Perhaps a company isn’t ready to bite on a company-wide licensing deal. However, individual reps could be interested. As a rep, I would be interested if there was a self service sign-up (and individual plan advertised on the website); no demo. It would save me LOADS of time putting notes into Salesforce. This should easily pay for itself in saved hours and pain of data entry. Then Chorus.ai can shift to account based marketing and level up within the org to managers/VPs.
- Target Inside Sales Teams. For the enterprise deals, target the inside sales teams first. These folks are typically more junior and need more coaching and are more open to adoption new solutions. Also, if I were an outside rep being passed a lead, I would certainly invest the time to listen to the call that qualified the lead. At that point, you’re also seasoning the outside team with the value of Chorus.ai. Lastly, if my company was using an out-sourced business development team, I would definitely want a solution like Chorus.ai in place as an oversight mechanism. This is not saying to ignore the rest of the sales org, but targeting inside sales and inside sales managers on a smaller deal could lead to accelerated deals and then easier up-sells.
- Market to Marketing Too. Have Marketing contribute to the budget (or at least get them into the groundswell. Marketing campaigns can be expensive. Therefore, Marketers usually A/B test things before they scale campaigns. Chorus.ai enables Marketing to work with a sales rep or two to test different messaging on a smaller, but still effective, scale. Also, by searching for trigger words like “competition”, they could get early indicators of new market threats and understand when it’s time to craft a campaign to combat them.
- Invest in SEO. I like the Chorus.ai tag line “Conversation Intelligence” as a branding tag line, but I doubt that anyone searches for that term. But I bet that people are searching for “sales call recording software” or “sales coaching solution” and derivatives of those. Writing blog posts and PR with long-tail terms around those core themes could help attract leads more cost effectively.
What do you think about these ideas? I enjoy these kind of brain exercises. If you’re interested in getting any kind of ideas for your company or job or other, simply drop me a private message and ask. I’d be happy to turn on the Thinkolator for you. 🙂