OnBase: Smashing Sales and Marketing Misalignments Ep. 423 | RevOps Unveiled: Navigating Trends, Challenges, and Innovative Synergies
Episode Summary
In this episode of Sunny Side Up, host Devan Cohen interviews Ken Lorenz, the VP of Global Sales at Riva International, where he oversees the company's customer-facing sales team members. With a developer background, Ken's passion lies in aiding customers in using technology to address business challenges. Over his extensive 30-year career, Ken has been pivotal in helping countless customers globally to select and implement ERP and CRM solutions. A seasoned member of ITA, Ken has contributed significantly to many content committees and has made numerous presentations at ITA collaboratives. Throughout the episode, Ken delves into the evolution of RevOps, the intersection of generative AI like ChatGPT in sales, and the importance of clean data in CRM. He also sheds light on the potential challenges and implications of integrating AI with customer data, emphasizing the importance of caution and privacy.
About the Guest
Ken Lorenz is currently the Vice President of Global Sales at Riva where he looks after all of Riva’s customer-facing sales team members. A developer by background, Ken is passionate about helping customers leverage technology to solve business problems. Over the past 30 years, Ken has personally helped tens of thousands of customers evaluate, select and implement ERP and CRM solutions, globally. As a long-standing member of ITA, Ken has contributed to many Content Committees and has presented numerous sessions at ITA Collaboratives.
Key Takeaways
- RevOps is a sector that has dramatically evolved from basic personal information managers to complex systems impacting sales and marketing processes over 30 years.
- Modern technology advancements, including generative AI like ChatGPT, are poised to revolutionize sales processes, changing how businesses interact and transact.
- The key differentiator in sales remains human touch and relationship-building, even as advanced AI tools gain prominence.
- Data quality is paramount; without clean, accurate data, no amount of technology can yield successful results in the RevOps field.
- Recent years have seen a proliferation of add-on technologies around CRM systems, increasing the complexity and cost of integration.
- Organizations often grapple with data "swamps" instead of efficient data "lakes," complicating the process of gaining insights and actionables.
- ABM platforms have emerged as crucial tools to aggregate, analyze, and provide actionable insights, focusing on genuinely engaged accounts for businesses.
- Integrating ChatGPT with RevOps systems presents opportunities and challenges, especially when handling sensitive, customer-specific data.
- In regulated industries like banking and insurance, there is heightened caution about introducing any customer data into AI models, ensuring strict compliance and data protection.
- Bad actors can exploit data, and with evolving large language models, there is a potential risk of data breaches or misuse, necessitating stringent safeguards.
- Regulations might become stricter, with businesses potentially needing to disclose when content is AI-generated, emphasizing transparency in communication.
Quote
"I think it's going to be very interesting to see how the next generation of salespeople leverage that technology and allow themselves to differentiate from their competitors." – Ken Lorenz
Shout-outs
Tony Hughes – CEO and Co-founder at Sales IQ Global
Justin Michael – CRO Coach & Co-Founder at Hard Skill Exchange
Connect with Ken Lorenz | Follow us on LinkedIn | Website