Gong was founded to automate the manual review of recorded sales calls
“What they found out is if they were, they started like recording the sales conversations to understand what's going on. And if they listened to dozens of them, eventually they got lots of good cues. And at the time he was like, there's gotta be a more efficien…”
Reshef: In 2015, Sales Tech Had Dozens of Tools Versus Hundreds in Martech
“I was looking at the marketing landscape and there was like dozens or hundreds, hundreds, literally hundreds of companies anywhere from campaign automation, whatnot, and sales really had dozens, which is not a lot. And my thought process at the time was sales.…”
In 2015, 30% to 40% of mid-market sales calls happened over video
“I would probably want to say 30, 40% of calls were, at the time, it wasn't even Zoom, right? It was Webex and BlueJeans and all sorts of names. Sales were happening. Obviously it was more hybrid than now, mostly for mid-range customers.”
Reshef: Objective software metrics eliminate sales reps' defensiveness and speed self-improvement
“If your manager told you you're speaking 70%, you're gonna be like, no, you didn't time it right. It was necessary. The customer just didn't respond, whatever the excuses are, but when software shows you 70% and then 65 and another called 80, obviously you cou…”
Startups should defer unit economics and custom infrastructure until Series B
“I'll tell you about unit economics when we get to round B or C right now. I want to improve product market fit, right? So the idea was like, keep it very lean, almost no sophisticated stuff, but make sure you get those precious sales conversation in front of t…”
Early-stage founders should not prioritize getting paid by initial design partners
“I think early stage, I would not worry about payment as a key thing.”
Eilon Reshef personally closed only two early deals at Gong
“I probably close one or two. Two deals, not more than that in all of the relationship kind of stuff.”
Reshef: A hired AE's first deal proves sales repeatability
“I was like excited when a first AE sells his first deal. That's a big thing for a company, right? It's not like me selling. It's somebody who has been trained and can convey the value. There's some repeatability element to it.”
Strategic roadmaps should be 80% vision-led; tactical roadmaps should be 80% customer-led
“I think the strategic roadmap is maybe 80% quote unquote vision. The tactical roadmap is probably 80% customer led”
Gong allocates engineering resources: 50% core product, 25% adjacent, 25% net-new
“I'd probably say in most cases, you probably, we probably do like 50% in the core product, 25% in new, and then 25% in net new, which is, call it, constructed to lead. Some years maybe we've done a little bit more of net new, and some years we're like, okay, w…”
Virtual AI representatives will not replace human salespeople within ten years
“So I don't think they're going to go away. I mean, people are like, oh, can a virtual rep call you and sell you something? It's like, I'm not going to pick up the phone for what the next 10 years, but certainly make their work much more efficient.”
Reshef: Webcollage would have fared better with founder-led sales for 5 to 10 customers
“So I wish we had said at a time like more founder led for the first five, 10 customers probably would have been in a much better shape because sellers are not as successful. They're not as knowledgeable, and then you don't get enough feedback.”