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☕ Strike the gong
To:Brew Readers
Responding to ROI concerns.
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It’s Thursday. Spotify’s move to bolster its free tier is paying off for now. In Q3, monthly active users increased 11% year over year to 713 million and premium subs jumped 12%. New free tier features—Pick & Play (no more of the dreaded shuffle) and Share & Play—were credited for some of the growth. Most importantly, Spotify Wrapped is around the corner, which is all anyone will talk about for around 48 hours.

In today’s edition:

—Beck Salgado, Layla Ilchi

SALES TECH

AI ROI

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An August MIT report roiled AI-forward businesses after it found that 95% of companies are seeing no return on their AI investments. It was a sucker punch for business leaders trying to wrap their heads, and budgets, around an increasingly essential part of the corporate tool kit. If your boss forwarded you an email entitled “SOS: the 411 on AI ROI,” it might have come from an AI bot trying to save itself.

These AI platform providers and users told Revenue Brew they haven’t been discouraged by early results and gave us insight into what could be coming down the pike.

Not Gong anywhere: Revenue AI company Gong is by no means the new kid on the block when it comes to sales enterprise AI. It’s confident in the path it’s on and working with customers to become more effective. According to Gong’s co-founder and CPO Eilon Reshef, this means going beyond being an agent and tapping into its software roots to find the best solutions for specific sales tasks.

Keep reading here.—BS

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REVENUE OPERATIONS

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Go-to-market teams are often the unsung heroes of successful product launches, marketing campaigns, or strategic pivots. Once a CRO calls the play, this team needs to execute, whatever the weather or terrain. One area where this function is perhaps most tactically deployed is during international expansion.

Expanding a business across borders is a process fraught with challenges: Whether it’s following regulations, acquiring the right talent, or adjusting to the prevailing culture, it’s a potential minefield. This means GTM teams are often rebuilt to facilitate these ambitions.

Revenue Brew spoke with three professionals on why GTM teams are an essential part of the process of going global.

Keep reading here.—BS

REVENUE OPERATIONS

An illustration of Venmo's new credit cards in multiple colors

Venmo

Venmo is taking the next step in its evolution from peer-to-peer payment application to (very) common verb.

The PayPal-owned business has struck a partnership with Bilt, a housing and neighborhood rewards platform, to bring rent, mortgage payments, and other “neighborhood commerce” into the Venmo app. The partnership is part of Venmo’s strategy of evolving into an “everyday commerce platform” and will expand its reach to Bilt’s network of over 45,000 merchants.

“Our partnership with Bilt marks a pivotal first step in our journey to bring everyday commerce directly into the Venmo experience,” said Diego Scotti, general manager of consumer at PayPal, Venmo’s parent company.

Keep reading here.—LI

ACTIVE PIPELINE

An open laptop revealing sales graphs, stacked coins, profit.

Stat: $1,000. That isn’t what you’d pay for a shiny new Macbook in the future, as Apple eyes an entrance into the low-cost laptop market. (Bloomberg)

Quote: “We’ve been building and investing in this infrastructure to make it really easy to bring shopping into every single AI conversation.”—Shopify President Harley Finkelstein on the increase in the platform’s AI-driven orders (TechCrunch)

Read: Chipotle’s big bet on younger consumers is unraveling. (the Wall Street Journal)

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