More than $1 trillion is spent each year to pay sales reps in North America. $1 trillion! After learning more about this space over the past 2 years, it’s been eye-opening to see how mismanaged this massive GTM investment is across organizations. At Forma.ai, we’re taking a revolutionary approach to solving this challenge, optimizing the return on that spend by applying AI and data science to territory, quota, and sales incentive plan design and management. I’ve always admired the vision Nabeil Alazzam has for our company and this space. And it’s been exciting to be a part of his next step in this vision – going upstream in the sales process and tackling the challenge of activity-based incentives. Today we announced our acquisition of SeaMonster, a SaaS platform that provides accurate sales activity monitoring and enables sales process compliance. Our goal is to integrate SeaMonster’s capabilities into our sales performance management platform, so organizations will be able to: - Deploy incentives on any granular activity type w/ automatically validated data -Motivate their sales force in real time to complete activities that are known to drive a great customer experience, and ultimately revenue -Bring sales process, performance management, and incentives closer together Exciting stuff! Welcome to the team SeaMonster (Acquired by Forma.ai). And congrats on building a solid tool Kevin North + Jesse Lancaster. More info here on the future of activity-based sales incentives: https://lnkd.in/e38hxQ9E
Wow $1 trillion is a big number! Cool that Forma.ai is keeping their finger on the pulse, and using AI to revolutionize sales compensation / incentive plans through ABIs. As someone who's worked as an SDR before, I know how much of a boost this would give reps to a) stay motivated in real time, and b) to complete activities that are known to drive a great customer experience - which is how you generate revenue in the long term. By the way, I happened to notice that Forma.ai is looking for a Content Marketing Manager, and I was wondering if you've considered extending uses of AI in your marketing efforts - i.e. to provide real-time insights on client interactions, and sending them personalized offers or messages to retain them? Check out this article: https://www.cmswire.com/digital-marketing/feel-the-buzz-thats-ai-energizing-marketing-campaigns/
Looks like the integrated platform will be an end-to-end solution.
Congrats to both the Forma and SeaMonster teams!
Killing it Mike! Congrats!
Independent Marketing & Business Consultant
3moCongrats! Looks like leading solutions to me.