- 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.
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.
To date, the platform has been adopted by over 2,000 customers and has captured more than 37 million sales calls. Revenue for 2021 is estimated to be around $120 million.
Gong revenue generation
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.
- 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.
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.
Main Free Guides:
- Business Models
- Business Competition
- Business Strategy
- Business Development
- Digital Business Models
- Distribution Channels
- Marketing Strategy
- Platform Business Models
- Revenue Models
- Tech Business Models
- Blockchain Business Models Framework