Gong is an Israeli revenue intelligence platform for B2B sales teams. The SaaS company was founded in 2015 by Amit Bendov and Eilon Reshef. Bendov got the idea for the company after witnessing multiple instances where sales teams could not close deals due to poor communication.
Gong makes money by selling various annual subscriptions to customers based on the type of intelligence they require. Prices are available on request, but sources suggest the company charges a base rate of $5000 per year plus $1200 per onboarded user.
Gong also makes money by selling branded merchandise in its Gong Merch store.
Business Model Element
Analysis
Implications
Examples
Value Proposition
Gong’s value proposition centers on offering an AI-powered platform that analyzes sales calls and meetings to provide actionable insights for sales teams. It helps improve sales effectiveness, close rates, and customer interactions. Gong emphasizes data-driven decision-making, coaching, and collaboration among sales teams, ultimately leading to revenue growth.
Provides an AI-powered platform for analyzing and improving sales interactions. Offers insights to enhance sales effectiveness and close rates. Encourages data-driven decision-making, coaching, and collaboration among sales teams. Attracts sales organizations seeking to boost revenue through better customer interactions. Fosters a culture of continuous improvement within sales teams.
– Sales teams use Gong to analyze call and meeting recordings, gaining insights into their communication and sales strategies. – The platform provides recommendations for improving sales conversations and strategies based on data analysis. – Gong fosters a data-driven approach to sales, enabling teams to make informed decisions and optimize their processes. – Sales organizations looking to boost revenue and improve customer interactions leverage Gong’s platform. – Gong’s focus on coaching and collaboration supports a culture of continuous improvement within sales teams.
Customer Segments
Gong serves a broad customer base, including sales organizations, sales teams, sales managers, and individual sales professionals. It caters to various industries and company sizes, offering solutions for B2B and B2C sales. Gong’s platform is suitable for both small businesses and large enterprises looking to enhance their sales effectiveness and customer interactions.
Addresses the needs of sales organizations, teams, managers, and individual professionals. Supports sales in various industries and company sizes. Offers solutions for both B2B and B2C sales. Provides value to small businesses and large enterprises seeking to improve sales outcomes. Appeals to sales professionals looking to enhance their skills and performance.
– Sales organizations and teams use Gong’s platform to analyze and improve their customer interactions and sales effectiveness. – Sales managers benefit from insights and coaching tools to better lead and guide their teams. – Gong’s platform is adaptable to sales in various industries, including B2B and B2C. – Small businesses and large enterprises seek Gong’s solutions to enhance their sales processes. – Individual sales professionals use Gong to improve their skills and performance in customer interactions.
Distribution Strategy
Gong primarily distributes its platform as a cloud-based software solution accessible through the web and mobile devices. It leverages digital marketing, partnerships, and sales teams to reach potential customers. Gong offers free resources, such as webinars and ebooks, to educate and attract users. It also provides integrations with popular CRM and sales tools.
Ensures accessibility through a cloud-based platform accessible on web and mobile devices. Utilizes digital marketing and partnerships to reach potential customers. Offers free educational resources to attract and engage users. Provides integrations with CRM and sales tools to enhance user experience. Attracts sales organizations and professionals looking to optimize customer interactions.
– Users can access Gong’s platform through web browsers and mobile apps, allowing flexibility in usage. – Digital marketing efforts include online advertisements, social media promotion, and content marketing to reach a wider audience. – Free resources like webinars and ebooks educate users about sales best practices and the value of Gong’s platform. – Integrations with CRM and sales tools streamline the user experience by incorporating Gong into existing workflows. – Gong’s target audience includes sales organizations and professionals seeking to enhance their customer interactions and sales outcomes.
Revenue Streams
Gong generates revenue primarily through subscription plans, offering various pricing tiers based on the number of users and features. It charges users on a recurring basis, typically monthly or annually. Gong also provides custom enterprise plans tailored to the specific needs of large organizations. The subscription model ensures recurring and predictable income.
Relies on subscription plans as a primary source of revenue. Offers tiered pricing based on the number of users and features. Provides custom enterprise plans for large organizations. Ensures recurring and predictable income through subscription billing. Offers value through continuous platform updates and support. Diversifies pricing options to cater to different user needs.
– Users subscribe to Gong’s platform by choosing from different pricing tiers, allowing them to access the platform’s features based on their needs. – Custom enterprise plans are available for large organizations with specific requirements. – Subscription billing ensures consistent and predictable revenue for Gong, supporting ongoing platform development and customer support. – Gong continuously updates its platform to provide ongoing value to subscribers. – Diversified pricing options cater to various user needs, promoting user retention and growth.
Marketing Strategy
Gong’s marketing strategy includes content marketing, digital advertising, partnerships, and participation in industry events. It focuses on educating the market about the benefits of AI-driven sales insights and coaching. Gong actively engages with the sales community, sharing insights and success stories. The company also leverages customer testimonials and case studies for credibility.
Utilizes content marketing and digital advertising to educate the market about AI-driven sales insights. Partnerships and participation in industry events expand brand visibility. Actively engages with the sales community, sharing insights and success stories. Leverages customer testimonials and case studies to establish credibility. Attracts users seeking innovative solutions for sales improvement.
– Gong’s blog, webinars, and ebooks provide educational content that highlights the value of AI-driven sales insights and coaching. – Digital advertising campaigns reach a broader audience interested in sales optimization. – Partnerships with industry organizations and participation in events boost brand recognition within the sales community. – Gong actively shares success stories and insights to demonstrate its platform’s effectiveness. – Customer testimonials and case studies provide social proof and build credibility among potential users. – Gong’s marketing efforts attract sales professionals and organizations seeking innovative solutions for sales improvement.
Organization Structure
Gong operates with a centralized structure overseeing product development, marketing, and customer support. It collaborates with sales experts and industry leaders to enhance its platform. Gong maintains a strong customer success team to assist users with onboarding and ongoing support. The platform actively engages with the sales community through webinars, forums, and knowledge sharing.
Employs a centralized structure for product development, marketing, and customer support. Collaborates with sales experts and industry leaders to enhance the platform. Provides customer success teams to assist users with onboarding and support. Actively engages with the sales community through webinars, forums, and knowledge sharing. Focuses on continuous platform improvement to meet evolving user needs.
– Gong’s product development teams work on enhancing the platform’s features and AI capabilities. – Collaborations with sales experts and industry leaders help Gong stay at the forefront of sales technology. – Customer success teams assist users with platform onboarding, ensuring a smooth experience. – Gong actively engages with the sales community through webinars, forums, and knowledge sharing to foster collaboration and user growth. – A commitment to continuous platform improvement allows Gong to adapt to evolving user needs and market trends.
Competitive Advantage
Gong’s competitive advantage lies in its AI-powered platform for sales analysis and improvement. It offers actionable insights that help sales teams enhance their interactions and close rates. Gong’s focus on data-driven decision-making, coaching, and collaboration sets it apart. Its active engagement with the sales community and the credibility gained from customer success stories contribute to its leadership in the sales technology space.
Provides an AI-powered platform for sales analysis and improvement, offering actionable insights. Focuses on data-driven decision-making, coaching, and collaboration among sales teams. Actively engages with the sales community, sharing insights and success stories. Gains credibility through customer testimonials and case studies. Sets itself apart as a leader in the sales technology industry.
– Gong’s platform is recognized for its ability to provide actionable insights that improve sales interactions and close rates. – The focus on data-driven decision-making, coaching, and collaboration sets Gong apart in the sales technology market. – Active engagement with the sales community fosters collaboration and knowledge sharing, contributing to Gong’s leadership position. – Customer testimonials and case studies build credibility and trust in Gong’s platform. – Gong’s competitive advantage is reinforced by its commitment to innovation and continuous improvement in the sales technology space.
Table of Contents
Origin story
Gong is an Israeli revenue intelligence platform for B2B sales teams. The SaaS company was founded in 2015 by Amit Bendov and Eilon Reshef.
While managing some of the most successful hyper-growth start-up companies, Bendov noticed that many of these companies could not understand why their sales teams were consistently losing deals.
In search of a solution, he reviewed multiple sales calls and discovered team members were only hearing part of the customer conversation.
What’s more, sales executives and their teams would spend hours reviewing CRM notes because they lacked an efficient means of accessing and synthesizing customer communications.
This resulted in many important business decisions being based on guesswork.
Bendov then turned to engineer friend Eilon Reshef, who suggested artificial intelligence could solve this problem.
Together, they developed a software product that could record and process customer conversations by understanding exactly what was said.
Importantly, artificial intelligence also captures the methods employed by top salespeople to guide less experienced sales teams. To that end, Gong helps these teams increase their production, lead generation, and deal closing ability.
Gong is now the self-proclaimed number one rated sales software on the planet, offering services across deal intelligence, people intelligence, and market intelligence.
Gong makes money by selling its intelligence platform solution to other businesses on an annual subscription basis. In other words, there is no monthly billing option.
There are several subscriptions available according to the type of intelligence the client desires.
These include:
Gong For Deals – for businesses that want to understand their pipeline, proactively unblock deals and help their teams win. Deal intelligence is provided in a single view to help sales teams understand the sentiment of each client and determine whether engagement is increasing or decreasing.
Gong For Teams – a product for scaling and driving consistency in an organization’s coaching culture. Going For Teams also drives better alignment between teams, functions, and the enterprise.
Going For Markets – which measures the success of strategic initiatives and analyses the buyer reaction to these initiatives. Businesses can use Gong For Markets to better understand their buyer and speak directly to their challenges. They can also quantify market competition and determine whether the training Gong provides is actually being applied by sales teams and not simply internalized.
Gong Enterprise – an all-in-one solution incorporating the above three plans. Some of the sales teams using this option include those from LinkedIn, Zillow, Hubspot, Slack, and Morningstar.
In terms of pricing, Gong encourages potential clients to submit a form for a custom quote depending on the size of their team.
Having said that, various sources suggest that the company has a minimum base charge of $5000 plus an additional fee of approximately $1200 per user per year.
Merchandise sales
The company also sells merchandise in the Gong Merch store, with items for sale including water bottles, t-shirts, stickers, deal-closing pens, ceramic mugs, tote bags, and caps.
Key Takeaways
Origin Story:
Gong was founded in 2015 by Amit Bendov and Eilon Reshef in Israel.
Amit Bendov noticed sales teams losing deals due to poor communication and lack of customer insight.
He teamed up with engineer Eilon Reshef to develop an AI-powered software that could record and process customer conversations to provide valuable insights.
The platform now offers deal intelligence, people intelligence, and market intelligence to help sales teams increase productivity and close deals.
Revenue Generation:
Gong sells its revenue intelligence platform on an annual subscription basis, offering no monthly billing option.
Different subscription plans are available based on the type of intelligence the client needs, including Gong For Deals, Gong For Teams, Gong For Markets, and Gong Enterprise.
Pricing varies depending on the size of the team, with a minimum base charge of $5000 per year and an additional fee of around $1200 per user per year.
Merchandise Sales:
Gong also generates revenue by selling branded merchandise in the Gong Merch store.
The merchandise includes water bottles, t-shirts, stickers, deal-closing pens, ceramic mugs, tote bags, and caps.
Impressive Figures:
Gong has been adopted by over 2,000 customers.
The platform has captured more than 37 million sales calls.
Estimated revenue for 2021 is around $120 million.
Key Highlights:
Founding and Origin Story:
Gong is an Israeli revenue intelligence platform founded in 2015 by Amit Bendov and Eilon Reshef.
Amit Bendov observed sales teams losing deals due to communication issues and lack of customer insights.
He collaborated with Eilon Reshef to create an AI-powered software that records and processes customer conversations for valuable insights.
The platform offers deal intelligence, people intelligence, and market intelligence to enhance sales teams’ productivity and deal-closing abilities.
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