104: Scaling Sales Processes with Data & Technology w/ Todd Abbott

June 03, 2021 00:28:53
104: Scaling Sales Processes with Data & Technology w/ Todd Abbott
B2B Revenue Acceleration
104: Scaling Sales Processes with Data & Technology w/ Todd Abbott

Jun 03 2021 | 00:28:53

/

Show Notes

Everybody is looking at data. Whether from a privacy standpoint, or a productivity standpoint, data is king. But how do you harness that data to inform good decision making?

In this episode, we interview Todd Abbott, CEO at InsightSquared, about utilizing data & technology to create scalable sales processes.

We talked about the key elements to consider when trying to build a scalable sales process, what data points you need to collect, and the biggest mistakes companies make when trying to scale their sales processes.

To hear this interview and many more like it, subscribe to The B2B Revenue Acceleration Podcast on Apple Podcasts, on Spotify, or on our website.

Listening on a desktop & can’t see the links? Just search for B2B Revenue Acceleration in your favorite podcast player.

View Full Transcript

Episode Transcript

WEBVTT 1 00:00:02.560 --> 00:00:08.349 You were listening to bb revenue acceleration, a podcast dedicated helping software executive stay 2 00:00:08.390 --> 00:00:12.189 on the cutting edge of sales and marketing in their industry. Let's give into 3 00:00:12.230 --> 00:00:17.789 the show. Hi, welcome to be to be revenue acceleration. My name 4 00:00:17.829 --> 00:00:23.579 is already mutier and I'm here today. We Stud about CEO of inside squad. 5 00:00:24.019 --> 00:00:27.820 Are you doing to data? Doing well with the dispensing pime with you? 6 00:00:28.539 --> 00:00:32.619 That's that's an absolute pleasure. Of thanks for coming. So to pic 7 00:00:32.700 --> 00:00:36.250 today is quite interesting and actually quite tamely, because we are looking at data, 8 00:00:36.409 --> 00:00:39.490 we are looking at making sense of it, and I think a lot 9 00:00:39.570 --> 00:00:47.329 of organizational doing that. Maybe from a privacy perspective, maybe from a productivity 10 00:00:47.490 --> 00:00:53.759 perspective, but the top at who will tackle today is utilizing data and technology 11 00:00:54.079 --> 00:00:59.079 to create scalable sales processes. So that that's you know, if we managed 12 00:00:59.119 --> 00:01:02.320 to make it walk today, people will make millions from listening to that podcast. 13 00:01:02.399 --> 00:01:07.069 So that let's go on. But before we get into the conversation, 14 00:01:07.549 --> 00:01:11.629 would you mind taking a few moments just to introduce yourself in in a bit 15 00:01:11.709 --> 00:01:17.150 more detail, as well as the company you represent, inside squad? Yeah, 16 00:01:17.230 --> 00:01:21.859 so I've done a sales and marketing exactly my whole life, then a 17 00:01:21.980 --> 00:01:26.420 cro for the last point five years or so I'm mostly in technology sales. 18 00:01:26.780 --> 00:01:30.099 Spent the number of years kind of learning the traded IBM and then spent the 19 00:01:30.219 --> 00:01:34.209 number of great years but Cisco, where I also spent three years over in 20 00:01:34.290 --> 00:01:38.930 Europe three years in Singapore, so I've been kind of a global leader for 21 00:01:40.010 --> 00:01:44.569 a good period of time. I joined the inside square eighteen months ago. 22 00:01:45.370 --> 00:01:49.799 I had been a three time customer and they had done an acquisition just prior 23 00:01:49.879 --> 00:01:53.920 to my joining. After the last company I was with the assault of private 24 00:01:53.959 --> 00:01:57.319 equity and and got exposed to some new technology that just kind of really opened 25 00:01:57.400 --> 00:02:02.870 my eyes to to being able to bring more data into the revenue analytics business 26 00:02:02.909 --> 00:02:07.310 and thought that I really want to be part of the company and help help 27 00:02:07.430 --> 00:02:12.310 bring the next phase of the sales and revenue profession to being much more of 28 00:02:12.389 --> 00:02:15.500 a science versus what we've historically been. I mean it's really been much more 29 00:02:15.539 --> 00:02:21.219 of an our. Yeah, and for now entering a new phase where analytics 30 00:02:21.340 --> 00:02:25.699 in the revenue process is now possible like never before. Absolutely absolutely well, 31 00:02:25.819 --> 00:02:30.689 is they even do it? My felt question is a wrong something that's really 32 00:02:30.729 --> 00:02:35.969 great. Everybody wants one. Everybody speak about that thing, a repeatable skate 33 00:02:36.090 --> 00:02:38.849 board. Say this process from Yo patie. What I do, key Amens, 34 00:02:38.889 --> 00:02:44.129 companies should consider, you know, though, to boot the skateboards and 35 00:02:44.250 --> 00:02:47.240 process. Yeah, I think it's a contextual question, depending upon what type 36 00:02:47.280 --> 00:02:52.159 of sales or type of a business you're in. MEAN, we're starting to 37 00:02:52.240 --> 00:02:54.960 see, or we have see beam over the last five, six seven yrrors, 38 00:02:55.159 --> 00:03:00.949 the ability to leverage technology for the repeatable process in what I refer to 39 00:03:00.069 --> 00:03:02.990 or with the marker first two as a linear sales process. Think of the 40 00:03:04.150 --> 00:03:10.469 shorter sale cycles and you've had sales sequencing technology that has enabled your bed ours 41 00:03:10.509 --> 00:03:15.099 or strs to run a process, make a call, send an email, 42 00:03:15.699 --> 00:03:17.939 weight three days, do this, x, Y and Z. So that 43 00:03:19.099 --> 00:03:23.259 linear process very common and under thirty day kind of sale cycles and that technology 44 00:03:23.419 --> 00:03:30.770 is really helped scale the top of funnel types of activities and inside sales for 45 00:03:30.849 --> 00:03:35.169 those kind of transactions. Yeah, challenge has been is in the nonlinear sales 46 00:03:35.210 --> 00:03:38.969 cross when you get to be a bit longer in sale, larger deals and 47 00:03:39.050 --> 00:03:44.479 they are historically we've all been very much focused on the hiring good people, 48 00:03:44.520 --> 00:03:47.000 people then how to sell right, the art of sale, and what we're 49 00:03:47.039 --> 00:03:52.360 now seeing is that the lack of data there is making it difficult to be 50 00:03:52.879 --> 00:03:55.830 a repeatable process. It's one of the fundament of reasons behind the life of 51 00:03:55.990 --> 00:04:00.270 a cro the tenor of the Cerro and a Peking DC that company. It's 52 00:04:00.310 --> 00:04:05.789 now sixteen, eighteen months and it's primarily because they've been unable to forecast that 53 00:04:05.909 --> 00:04:11.340 business might be going along really well then hit a tough quarter but not understand 54 00:04:11.460 --> 00:04:15.979 why. And it's because they haven't been able to establish what is that. 55 00:04:15.060 --> 00:04:21.540 That's that repeatable sales process that requires tital on been marketing products, fild enablement 56 00:04:21.660 --> 00:04:28.649 and APPS. We have never really grounded those cross functional discussions and actually what 57 00:04:28.889 --> 00:04:31.889 happens in the self process, where your friction is and how you need to 58 00:04:32.009 --> 00:04:36.689 come together as a team to be able to overcome non scripting points and enable 59 00:04:36.769 --> 00:04:42.480 your self process to actecute. We haven't really been able to do that because 60 00:04:42.519 --> 00:04:46.480 the data has been lacking. In and on with your self past. Yeah, 61 00:04:46.240 --> 00:04:51.240 yeah, we tend to see we tend to see companies who are trying, 62 00:04:53.350 --> 00:04:58.790 but it feel like pushing a square peg in around hope. So and 63 00:04:58.870 --> 00:05:00.910 what I mean by that is that we've got people who come and say this 64 00:05:01.110 --> 00:05:06.620 is the blueprint of my reputable skateable sales process and the first question we ask 65 00:05:06.620 --> 00:05:10.100 themselves okay, well, tell us about the conversion rate. Oh, we 66 00:05:10.180 --> 00:05:14.379 don't know. It's an agency at build that for us. So they're coming 67 00:05:14.540 --> 00:05:17.339 with like a process of saying, okay, we're going to get the meeting, 68 00:05:17.699 --> 00:05:21.170 meeting today. Mode they moved to prove a value. Prove a value 69 00:05:21.290 --> 00:05:25.490 to contract, contract to close, you know, to make it very simple, 70 00:05:25.529 --> 00:05:29.610 right, and I agree with you. I think in the transactional commodity 71 00:05:29.769 --> 00:05:33.250 type of business enough, you know you split to someone you want to consult, 72 00:05:33.250 --> 00:05:36.319 that conversation to a meeting, that meeting to a proposal, at proposal 73 00:05:36.480 --> 00:05:41.319 to contract, contract to close, and of you go see you later. 74 00:05:41.519 --> 00:05:46.399 That's that's customer success, taken care of you from now. But when it 75 00:05:46.680 --> 00:05:49.709 comes a bit complex, I think we see a lot of organization who are 76 00:05:50.350 --> 00:05:55.990 coming with a blueprint but they've not tested it or the blueprint may have been 77 00:05:56.069 --> 00:06:00.189 written by someone who's that the sens person. It could be like a product 78 00:06:00.269 --> 00:06:03.740 marketing person and stuff like that. So how do you get started? Because 79 00:06:03.740 --> 00:06:08.860 I get I guess to to have a repeatable scalable you need to have a 80 00:06:08.980 --> 00:06:14.139 few cells on the your Bait. And when you are a newish start up, 81 00:06:14.180 --> 00:06:16.100 or, let's say even if you've got like sixty customers, that's say 82 00:06:16.180 --> 00:06:19.730 you know which is a fifty customers to take around number. Is that enough 83 00:06:20.290 --> 00:06:26.529 data? Well, does the data gathering stock to be relevant for the for 84 00:06:26.610 --> 00:06:30.209 the repeatable scalboard process. Basically, is my pastion. You know, it's 85 00:06:30.250 --> 00:06:33.120 a good question. I mean, in order to leverage analytics, machine running 86 00:06:33.160 --> 00:06:38.160 analytics, you need to have, they would say, IMP size given point. 87 00:06:38.639 --> 00:06:44.120 Typically you need to have ideally a hundred fifteen, the two hundred wins 88 00:06:44.319 --> 00:06:46.870 under your belt. Yeah, if you have that many wins, then you 89 00:06:46.990 --> 00:06:53.310 have a correspondingly larger number of lossons. But when you get to that kind 90 00:06:53.350 --> 00:06:59.189 of point, than machine running technology can be very acceptive at being much more 91 00:06:59.269 --> 00:07:03.300 predictive and in a little more of your passing. Because what what's what's important 92 00:07:03.300 --> 00:07:08.379 to recognize is that in the revenue process, we talked about getting the data, 93 00:07:08.420 --> 00:07:13.259 but what data do we really need to be able to understand sales process? 94 00:07:13.420 --> 00:07:17.490 Because everybody starts with their sales process thinking about the sales teage what happens 95 00:07:17.529 --> 00:07:21.129 at each stage? Yeah, what are the criteria to move from stage to 96 00:07:21.209 --> 00:07:26.009 stage? You've been doing this for years and it's still very valid, don't 97 00:07:26.009 --> 00:07:29.610 get me wrong, but I think it's going to become less valid in the 98 00:07:29.689 --> 00:07:33.439 sense of looking at sessing the quality of a deal on a follow we'll explain 99 00:07:33.600 --> 00:07:36.319 in a minute. That's not to say that sales processes aren't going away. 100 00:07:36.639 --> 00:07:41.160 They are there. They're going to steamer for a long time because they help 101 00:07:41.560 --> 00:07:46.189 with your on boarding and field enablement to help develop the skills at each phase. 102 00:07:46.750 --> 00:07:50.430 But actually now, with the with machine learning and the data, and 103 00:07:50.550 --> 00:07:56.310 the data is customer engaged. There's nothing better to assess the health of a 104 00:07:56.389 --> 00:08:01.379 deal then called the customer is engaging with your team. If your value prop 105 00:08:01.540 --> 00:08:05.379 is resonating, your customer is going to respond to your team's email. They're 106 00:08:05.379 --> 00:08:07.060 going to schedule the next meeting, they're going to look at your attachments, 107 00:08:07.420 --> 00:08:11.339 they're going to engage with you because your value prop is resonating. It's worth 108 00:08:11.459 --> 00:08:16.089 their investment to learn more. And if you think about a sales process, 109 00:08:16.129 --> 00:08:20.490 it's really about a series of meetings and converting to the next week. Your 110 00:08:20.569 --> 00:08:26.370 building consensus. You're educating your aligning your value prop to the business outcomes. 111 00:08:26.410 --> 00:08:30.759 They have to ultimately get to a point where the decisionmaker is now president and 112 00:08:30.879 --> 00:08:33.039 a decision can be made. That could be eight meetings, could be ten 113 00:08:33.120 --> 00:08:37.120 meetings, could be twenty things. Depends upon the length of your sales side. 114 00:08:37.399 --> 00:08:39.879 But in reality what we haven't been able to get is that level of 115 00:08:41.000 --> 00:08:45.029 data. How is the customer engaging with your team? Because if you can 116 00:08:45.110 --> 00:08:48.870 get that data now, you get assessed very quickly. When does a customer 117 00:08:50.029 --> 00:08:56.139 stop engage? When have you potentially lost that customer? Or your question if 118 00:08:56.179 --> 00:09:00.139 you understand the sales process relative to the series of meetings and what are the 119 00:09:00.340 --> 00:09:05.820 critical meetings? When other people are brought in, the decision or the influence 120 00:09:05.940 --> 00:09:09.289 point becomes bigger, or if the decisionmaker is the cro typically, when does 121 00:09:09.370 --> 00:09:13.809 the Cerro get engaged? And and if you understand that level of your sales 122 00:09:13.850 --> 00:09:18.970 process and you can look at deals through your in your funnel, as they're 123 00:09:18.009 --> 00:09:24.169 progressing from from conversion to conversion, completely differently than what we've done in the 124 00:09:24.210 --> 00:09:26.960 past. Right, how do we today assess the health of a deal? 125 00:09:28.360 --> 00:09:31.360 We interrogate the reat we inspect the deal. How did the last meeting go? 126 00:09:31.879 --> 00:09:35.480 That is it is. Is this deal that qualified? Do they have 127 00:09:35.639 --> 00:09:39.870 the budget? I know the things that we've done for years and are relying 128 00:09:39.990 --> 00:09:43.269 on being able to get the facts from the red. In some cases the 129 00:09:43.350 --> 00:09:48.070 REP doesn't know that. The fact that that next meeting was in schedule of 130 00:09:48.149 --> 00:09:52.269 actually indicates that you might have, you might be losing that customer. They 131 00:09:52.269 --> 00:09:56.580 might be going bold. And so if you understand what data is and then 132 00:09:56.700 --> 00:10:01.779 get the data in to be able to quantitatively, machine learning assisted, be 133 00:10:01.820 --> 00:10:09.090 able to assess their reveal, that's game changing. A machine learning quantity the 134 00:10:09.129 --> 00:10:11.970 way what it's UN deal by deal, as well as your own broth. 135 00:10:11.769 --> 00:10:15.570 So so I now, having been doing this for a while, like I 136 00:10:15.610 --> 00:10:18.289 don't think about fill stayed where. I look at of fun, I look 137 00:10:18.370 --> 00:10:22.240 at how many meetings are we is the next meeting schedule? Watch the engagement 138 00:10:22.320 --> 00:10:26.360 level with the customer and to me that's like a different way to look at 139 00:10:26.679 --> 00:10:33.639 and assess and engage and it's pretty beachaming. Yeah, you you pretty much 140 00:10:33.639 --> 00:10:37.230 speaking of US something. As for me, I we don almost cut it 141 00:10:37.350 --> 00:10:41.549 pipeline hygiene, because you can see a lot of deals a lot of conversation 142 00:10:41.710 --> 00:10:46.070 and we will come across. There's two types of see get, if I 143 00:10:46.110 --> 00:10:48.429 think the put opposite. You've got the very enthusiastic sells get. Oh my 144 00:10:48.509 --> 00:10:52.820 God, has spoke to talk today. We are the cracking conversation, which 145 00:10:52.860 --> 00:10:56.620 means we basically I did my presentation to todd and todd was moving. Is 146 00:10:56.659 --> 00:11:00.220 that he was smiling at me and I pick up them. Well, right, 147 00:11:00.299 --> 00:11:03.299 because and then you've got the opposite, which is the cause. Oh 148 00:11:03.340 --> 00:11:05.970 my God, yet, no, no, nothing, nothing is moving, 149 00:11:05.049 --> 00:11:07.610 nothing in moving. I'm going to put it out there and I need to 150 00:11:07.730 --> 00:11:11.330 wait for the prospect to he made me to say that he wants it to 151 00:11:11.490 --> 00:11:13.289 for me to be convinced that they will want it. So I guess the 152 00:11:13.409 --> 00:11:18.080 pipeline engine has always been the tissue of okay, is that a real deal, 153 00:11:18.360 --> 00:11:22.279 and really the role of the of the sales manager or the CRO to 154 00:11:24.080 --> 00:11:30.000 really dismantle and ask question, to get to to basically almost create their own 155 00:11:30.120 --> 00:11:33.830 story. Right? It supposed doing the forensic as as a as a CR 156 00:11:33.870 --> 00:11:37.549 rod to make sure that things are adding up or not, but I guess 157 00:11:37.590 --> 00:11:41.710 what you are saying is forget about that. The painful Monday morning for howers 158 00:11:41.789 --> 00:11:45.909 meetings with the cells team, where some people get addressed, done down, 159 00:11:46.350 --> 00:11:48.820 some people will get the applauds. You know, forget about. What you 160 00:11:48.860 --> 00:11:52.419 need to do is to look at the stages of the meetings. Take it 161 00:11:52.460 --> 00:11:56.860 in a different manner. Have you had these three discovery meetings? Is it 162 00:11:56.019 --> 00:12:01.690 now leading to a business case discussion? What the people coming at the business 163 00:12:01.769 --> 00:12:07.490 case decision? And basically, so so I love that. Now I'd like 164 00:12:07.570 --> 00:12:11.210 to unders a bit more about the data that needs to be gathered and I 165 00:12:11.289 --> 00:12:13.450 think I will be also useful for audience, so that the meetings makes sense 166 00:12:13.690 --> 00:12:18.360 and kind of taking the process. So when say what this is, this 167 00:12:18.600 --> 00:12:20.559 is what the prospect wants, you know the way you're going to get this 168 00:12:20.720 --> 00:12:24.240 prospect is young age there and we put the prospect in the center and we 169 00:12:24.320 --> 00:12:30.629 actually sell to them based on what we've established. The need of buying to 170 00:12:30.750 --> 00:12:33.389 be okay, I get all that, but when it comes to the data, 171 00:12:35.509 --> 00:12:39.470 I contrully understand the concept. I see the value, but if I 172 00:12:39.549 --> 00:12:41.990 wanted to, and maybe that's your secret. So, so you don't want 173 00:12:41.990 --> 00:12:46.419 to speak too much about that, but what data points you need to collect? 174 00:12:48.620 --> 00:12:50.460 Well, so it much a good question and have you to talk about 175 00:12:50.460 --> 00:12:56.059 it. UN So, there's now technology in that is able to to get 176 00:12:56.100 --> 00:13:00.049 all that data, because up to this point I'm the data that is put 177 00:13:00.129 --> 00:13:05.649 in Crem, which is the database from which you're assessing, and a deal 178 00:13:05.090 --> 00:13:09.929 is all dependent upon what the REP key punches into the system right, and 179 00:13:09.210 --> 00:13:13.799 crm was never designed to be a territory management tool for the Rep. it's 180 00:13:13.879 --> 00:13:18.200 not really a rep tool. It's a company too. It's a database and 181 00:13:18.240 --> 00:13:24.360 it's a good work clong, but typically reps do not like spending time and 182 00:13:24.559 --> 00:13:28.549 in crm it takes too much time. They'd rather be outselling, and so 183 00:13:28.669 --> 00:13:31.429 we don't have the date. So the first thing that is now starting to 184 00:13:31.830 --> 00:13:37.429 fundamentally change that dynamic is there's technology that can automatically capture all of the digital 185 00:13:37.470 --> 00:13:41.220 engagement, not just with the REP, because you want everybody that's touching the 186 00:13:41.379 --> 00:13:46.899 customer B sc. You'll relay you as a manager, and so our machine 187 00:13:46.899 --> 00:13:52.299 learning since in between the CRM system and your email calendaring system and we'll keep 188 00:13:52.340 --> 00:13:58.690 track of all of the digital engagement to and from your customers. Calendars need 189 00:13:58.769 --> 00:14:03.330 beings, attachments and based upon that contact being in crm will put that automatically 190 00:14:03.370 --> 00:14:07.889 into the system with no administrative burn on the Rep. a couple things. 191 00:14:07.970 --> 00:14:11.879 What we've learned is that when we deploy this technology for customers, first of 192 00:14:11.919 --> 00:14:16.840 all we're typically finding that the most coverage you have on the context in the 193 00:14:16.879 --> 00:14:20.159 account record is about thirty percent. But reps are horrible at adding content which 194 00:14:20.159 --> 00:14:24.350 is nothing in it, for they'll put the key the key decisionmakers, but 195 00:14:24.429 --> 00:14:30.230 there's actually many more people when get engaged in a decision as certainly many more 196 00:14:30.230 --> 00:14:33.870 as you get into the longer sales. And so first of all you've got 197 00:14:33.909 --> 00:14:35.870 to make sure you get all these all the activities, and so the system, 198 00:14:35.990 --> 00:14:39.259 or all of the concepts, the system will identify when a new contact 199 00:14:39.299 --> 00:14:43.940 gets engaged, new email extreme or somebody's added to a meeting. will add 200 00:14:43.940 --> 00:14:48.980 that to the system to be able to now collect all of the engagement from 201 00:14:48.019 --> 00:14:52.009 that person as well. But I'll also prompt the rep to say, Hey, 202 00:14:52.090 --> 00:14:56.690 who is this person you just started doing gains? Here's the email, 203 00:14:56.049 --> 00:15:00.370 give me the name, giving the title, give me their persona, because 204 00:15:00.450 --> 00:15:05.330 now you can start to hold it the rep accountable to a full breath of 205 00:15:05.450 --> 00:15:09.919 context for marketing to be able to be much more effective to market by person 206 00:15:09.039 --> 00:15:13.120 ONA within an account, within an Adam struck right. And then, once 207 00:15:13.200 --> 00:15:16.080 I have all the contexts, were typically adding about ten times the amount of 208 00:15:16.120 --> 00:15:22.509 data that existed in an opportunity with this new activity cap. So now I 209 00:15:22.669 --> 00:15:26.429 have all of the engagement level. What's going on before the meeting? What 210 00:15:26.629 --> 00:15:31.110 is the level of engagement? Is it a healthy engagement? And then, 211 00:15:31.590 --> 00:15:35.700 given that we're doing so many things virtual now, the analytics of the meeting 212 00:15:35.820 --> 00:15:41.179 is now also very possible write the recording, transcription and analytics of the talk 213 00:15:41.299 --> 00:15:46.740 tracks more than just the talk time. Who talked, but what were the 214 00:15:46.820 --> 00:15:50.009 key words and then what's the ihage been? Actively, I just had a 215 00:15:50.049 --> 00:15:54.690 customer that I was engaged in yesterday. Here we are at the end of 216 00:15:54.690 --> 00:15:58.450 the quarter. Actually this conversation to the quest last week and I have follow 217 00:15:58.450 --> 00:16:03.049 up to this today, but basically I was helping him leverage the machine learning 218 00:16:03.399 --> 00:16:07.240 of is it a healthy deal on a deal that was supposed to be committed 219 00:16:07.360 --> 00:16:11.600 this month and I was able to show him that there has been like one 220 00:16:11.759 --> 00:16:15.399 engagement in the last three weeks steal. He had been the leading the wrap 221 00:16:15.480 --> 00:16:18.669 the REP was saying, Yep, it's on track, it's going to come 222 00:16:18.750 --> 00:16:22.070 in and I and this system now has the abilities showing you, like no, 223 00:16:22.309 --> 00:16:26.870 your reps actually weeks out three times. The customers come back once in 224 00:16:26.029 --> 00:16:30.750 three weeks. That is not the sign of a deal that's going to close 225 00:16:30.830 --> 00:16:33.700 in a week. And so if you if you can see that graphically, 226 00:16:34.460 --> 00:16:41.179 you can very quickly identifying the health of a deal without going through the interrogation. 227 00:16:41.340 --> 00:16:44.500 The question with the rep now is completely different. Like you said, 228 00:16:44.539 --> 00:16:47.610 this is a good deal. You haven't heard from the customer in three weeks. 229 00:16:48.049 --> 00:16:52.730 The system is kind of being the interrogation for you and it's now identifying. 230 00:16:52.289 --> 00:16:56.409 Call it that, you know my bs fere. It's hit the meter 231 00:16:56.570 --> 00:17:00.519 that says I'm suggesting that this deal is not helpful, and now it's directing 232 00:17:00.600 --> 00:17:03.960 me, as a manager, to going needs in a different discussion and so 233 00:17:04.519 --> 00:17:10.160 getting all the data in and being able to establish the profile of a winning 234 00:17:10.240 --> 00:17:15.440 deal and then bench marking every deal against that profile. That's the game change 235 00:17:15.480 --> 00:17:18.029 of technology. But the key is you want to give those insights to the 236 00:17:18.150 --> 00:17:22.430 REP as well as to the manager, because when the rep starts to see 237 00:17:22.710 --> 00:17:29.549 how a deal compares. They now can be more accountable to what in act 238 00:17:29.710 --> 00:17:34.140 how they're actually presenting the deal. If I can't defend this feel being in 239 00:17:34.220 --> 00:17:37.740 the forecast because I haven't heard from the customer for three weeks, four weeks, 240 00:17:38.099 --> 00:17:44.289 then I better move it because can't hide yeah, or I can't hold 241 00:17:44.890 --> 00:17:48.049 right. Some people hide, some people are hoping this deal is going to 242 00:17:48.089 --> 00:17:52.809 commit, and hopes never a strategy right, and so to a minute, 243 00:17:52.849 --> 00:17:56.329 certain these eyeek yeah, and it's so. The reason that the life of 244 00:17:56.410 --> 00:18:00.960 a Cerro is sixteen, eighteen months is because there's too much hoping that business 245 00:18:02.039 --> 00:18:04.599 is going to come in without being able to look at that through health of 246 00:18:04.680 --> 00:18:10.559 a funnel statistically. And that's that's the be changing aspect of this. You 247 00:18:10.759 --> 00:18:18.910 you can find the deals very quickly that are on fold or or our hiding, 248 00:18:18.670 --> 00:18:22.470 whether it's deals that are not very healthy or deals that are really healthy, 249 00:18:22.549 --> 00:18:26.259 that are in the upside, because we also have those keys. We're 250 00:18:26.259 --> 00:18:30.380 erupted, shinhly engaged, but I want to hide them when I'm just going 251 00:18:30.380 --> 00:18:34.819 to keep that one of the upside. Well, systems now will expose all 252 00:18:34.900 --> 00:18:38.819 of that. So your one on one discussions are not now interrogations, they 253 00:18:38.940 --> 00:18:44.089 move to being coaching sessions, which is what the Rep wants and what we 254 00:18:44.250 --> 00:18:48.490 want as managers. Not Absolutely, it absolutely, I think it's yea. 255 00:18:48.569 --> 00:18:52.410 There is nothing more than also having someone in your team and you touch on 256 00:18:52.490 --> 00:18:55.450 it is is kind of creating a blue print for US ourselves. Right, 257 00:18:55.839 --> 00:18:59.400 if you've got someone in your temails that performing and you contactually figure out why 258 00:19:00.079 --> 00:19:06.240 it's instead of going through series of questioning and investigating and which is painful for 259 00:19:06.359 --> 00:19:08.519 you as a manager, painful for the red because they think that they're being 260 00:19:08.839 --> 00:19:11.910 you know, drives down in a way, you could just say well, 261 00:19:11.950 --> 00:19:15.190 look, this is what we should do, this is what you've not done, 262 00:19:15.309 --> 00:19:18.750 this is what the level of interaction into oven and I think it's it's 263 00:19:18.789 --> 00:19:23.940 it's a very interesting it does a one of the thing that we've done with 264 00:19:25.019 --> 00:19:33.059 we've got a relatively small sells team and we've established what would like to maybe 265 00:19:33.180 --> 00:19:36.900 not as scalable and repeatable as we would want, but, you know, 266 00:19:36.980 --> 00:19:41.009 a good process in terms of cells, and what we found fundamentally useful is 267 00:19:41.049 --> 00:19:44.690 to actually, when you recruit someone, to actually tell them this is what 268 00:19:44.849 --> 00:19:49.009 happened, this is our selves process right there is nowhere to write, because 269 00:19:49.089 --> 00:19:52.720 this are the conversion rate out of the two hundred, let's deals that took 270 00:19:52.759 --> 00:19:57.720 place. So if you don't have a twenty percent conduction rate here from there, 271 00:19:57.759 --> 00:20:02.519 today are it's one of three shows. Okay, you've not done that, 272 00:20:02.759 --> 00:20:04.200 or the prospect got that, or we didn't speak to the right person, 273 00:20:04.319 --> 00:20:07.230 or what the etc. Etc. Etc. So we've got a little 274 00:20:07.230 --> 00:20:11.589 narrative as to the how to sort it and we put that into a cells. 275 00:20:11.670 --> 00:20:17.390 PLAYBOL. That's and to drastically in term of addressing but I guess for 276 00:20:17.430 --> 00:20:21.980 us is relatively straightforward. When you are much larger company, particularly the company 277 00:20:22.019 --> 00:20:26.539 as well, getting investments, sixty million, hundred millions of investment from DC 278 00:20:26.660 --> 00:20:30.180 and you really need to go quickly and really acquit a lot of customers and 279 00:20:30.220 --> 00:20:36.809 you've got sixty serves people across five different continents going after it is it's it's 280 00:20:36.849 --> 00:20:38.890 a bit more difficult when you've got five guys to manage. You know, 281 00:20:40.049 --> 00:20:42.009 it's every things. I'm much simpler and you get when you get spire and 282 00:20:42.049 --> 00:20:45.609 you can really give them the time. So I guess my last question, 283 00:20:45.769 --> 00:20:52.559 do you really to is what would you say is the biggest mistake. That 284 00:20:52.799 --> 00:20:56.279 all mistakes that companies are making when they try to scale that sells process. 285 00:20:57.119 --> 00:21:02.839 I think the biggest mistake I see instead of customed teams are not spending enough 286 00:21:02.920 --> 00:21:07.230 time on early stage, on our conversion. I see I get exposed to 287 00:21:07.349 --> 00:21:14.630 a lot of different analytics in my current job because I'm I'm consulting with customer 288 00:21:14.630 --> 00:21:18.099 around there what I refer to as their advance sales mat these meeting conversions. 289 00:21:18.579 --> 00:21:22.460 And if you think about the early stage one, or you think about we 290 00:21:22.700 --> 00:21:26.619 went, your win rate is hias. As a team in midtle weak state, 291 00:21:26.980 --> 00:21:32.180 we as managers to can to spend most of our time on mint to 292 00:21:32.180 --> 00:21:33.890 late stage because those are the deals that are going to make the months, 293 00:21:33.930 --> 00:21:40.410 going to make poor and we rely on enable mental marketing to kind of helped 294 00:21:40.490 --> 00:21:45.970 with or we assume that reps know how to qualify and discover. In reality, 295 00:21:47.009 --> 00:21:51.680 if you can improve your conversion rates in the in the qualification and discovery 296 00:21:51.759 --> 00:21:57.119 section and ten percent get more deals into the mentally stage of the funnel where 297 00:21:57.160 --> 00:22:03.789 your team actually executes the best highest conversion rates, it has significant throughput impact 298 00:22:04.190 --> 00:22:11.430 and I find too many customers are not spending enough time on what really happens 299 00:22:11.029 --> 00:22:17.859 in the qualification and discovery, because you're always selling qualification discover it's not just 300 00:22:17.980 --> 00:22:22.099 about asking that the five or six questions they have budget and we talk with 301 00:22:22.140 --> 00:22:26.259 the right guy, which the digity. Whatever your qualification process, you have 302 00:22:26.380 --> 00:22:30.369 to be selling. Again, think back to meeting conversions as I'm trying to 303 00:22:30.490 --> 00:22:36.890 get my information to qualify and assessed. That's a good opportunity. I also 304 00:22:36.970 --> 00:22:40.210 want to make sure that I'm selling to get the customer to want to learn 305 00:22:40.250 --> 00:22:45.279 more. Yeah, right. I find customers just don't spend enough time on 306 00:22:45.480 --> 00:22:51.279 developing those skills that can have significant impact. Do the throughput later, speak 307 00:22:51.400 --> 00:22:56.200 when when your team typically has its highest win rates. And you know, 308 00:22:56.880 --> 00:23:00.269 I completely agree with that statement. I think it's sometimes you almost feel like 309 00:23:00.390 --> 00:23:08.029 it's a dug bocking. He's on day and it's sometimes being a prisoner like 310 00:23:08.390 --> 00:23:15.380 in the jail of of that's on paper, repeatable, scalable process that we 311 00:23:15.460 --> 00:23:18.299 don't know if it's repeatable and scalable, but someone writes it down. So 312 00:23:18.380 --> 00:23:22.140 this is what we should do. And we've got customers who are you know, 313 00:23:22.740 --> 00:23:26.569 we've got different customers, obviously, and some technology are not distructive than 314 00:23:26.609 --> 00:23:30.730 other and most of our customer worth distructive technology on the stone. The need 315 00:23:30.809 --> 00:23:34.450 for education, because it's an eventualist play and you've got to go and get 316 00:23:34.529 --> 00:23:38.369 get the kapex right. Yeah, but some of the other work, maybe 317 00:23:38.410 --> 00:23:42.839 a bit more commodity or whether category is growing and maturing. You know, 318 00:23:44.920 --> 00:23:48.160 it's they want to black and white stuff. You know we we deN'tiver an 319 00:23:48.200 --> 00:23:49.759 opportunity to them, and that okay. Yeah, well, what's good meeting, 320 00:23:49.839 --> 00:23:52.720 but no opportunity and you can have okay. So what do you do 321 00:23:52.880 --> 00:23:57.069 with it? Because, you know, I spoke to talk today. It 322 00:23:57.230 --> 00:23:59.710 was like, look, I've got some of our stuff to do. This 323 00:23:59.789 --> 00:24:03.950 is very interesting, but if I'm speaking to an organization with Fivezero people, 324 00:24:03.910 --> 00:24:07.789 should not just try to go a little bit more it? Study, only 325 00:24:07.829 --> 00:24:11.460 get will make the decision. How many stuff are being both nowadays with just 326 00:24:11.700 --> 00:24:15.619 one person engage in the sells process? Not a lot, right, not 327 00:24:15.779 --> 00:24:22.339 a lot at all. And I think, I think I'd completely agree with 328 00:24:22.420 --> 00:24:25.210 you. There is a stage of saying I think there is a stage of 329 00:24:25.450 --> 00:24:30.529 creating the demand rather than qualifying the demands, and there is. If we 330 00:24:30.650 --> 00:24:34.529 were to work that way, I think we educate prospect better, I think 331 00:24:34.529 --> 00:24:37.490 we will be in a bit more of a challenge ourselves type of position. 332 00:24:38.079 --> 00:24:44.720 I think we will get prospect to think or rethink we and we would probably 333 00:24:44.839 --> 00:24:48.079 and that's what we do for ourselves. You know, we are setting pipelines. 334 00:24:48.400 --> 00:24:52.680 You know, none of our clients before starts signing a contract with operatics. 335 00:24:52.670 --> 00:24:56.470 None of them have nothing from a Piper generation perspective. In fact, 336 00:24:56.509 --> 00:25:00.309 most of them have something all right. So most of the time when we 337 00:25:00.390 --> 00:25:03.950 speak to them, the sun and not interested. I've got something in place. 338 00:25:03.910 --> 00:25:07.220 So we actually tell them that in the process of trying to get that 339 00:25:07.380 --> 00:25:10.819 meeting with them. So we know that you've got something in place. We 340 00:25:10.940 --> 00:25:12.779 know that you would have budget now, but we believe that we could bring 341 00:25:12.859 --> 00:25:15.859 something, that I can help you to add to the scale that you are 342 00:25:15.980 --> 00:25:22.210 creating at to the acceleration. Okay, and people take the conversation because you 343 00:25:22.289 --> 00:25:26.289 know, we've got a way of doing in that is interesting, and then 344 00:25:26.410 --> 00:25:30.809 through that conversation you then realize all the issues, when you let them speak, 345 00:25:30.849 --> 00:25:33.450 that they are facing with the current set up. Yeah, you that 346 00:25:33.529 --> 00:25:40.920 you probus like a doctor depended the end, and we want to just qualify 347 00:25:41.119 --> 00:25:45.400 them. God would speak to no one, we would have no meetings like 348 00:25:45.559 --> 00:25:51.430 because everybody's got something and nobody's got budget particularly resture. And did you know? 349 00:25:51.589 --> 00:25:55.670 It's a good point. I think you need to recognize where is your 350 00:25:55.789 --> 00:26:00.470 solution and that on the product market, its scale, the women are you 351 00:26:00.630 --> 00:26:07.299 in the lead identification stage of a business or in the lead generation, that 352 00:26:07.380 --> 00:26:11.940 demand generation? And I feel with a little bit of that in my business 353 00:26:11.019 --> 00:26:15.940 in the sense that our platform is very broad and and people aren't out there 354 00:26:17.019 --> 00:26:23.250 looking for a revenue intelligence platform who cansolidate analytics, and so I'm in the 355 00:26:23.289 --> 00:26:30.529 business of identifying what is the demand or the lead identification elements of my business, 356 00:26:30.529 --> 00:26:34.279 and it's typically forecast. People are looking for forecasting solutions, and so 357 00:26:34.440 --> 00:26:40.759 I have to lead identify people that are looking for help and forecasting and then, 358 00:26:40.839 --> 00:26:44.279 once I get them in, I have to then now generate demand for 359 00:26:44.319 --> 00:26:48.390 a different buying criteria, for a different set of analytics schools that they might 360 00:26:48.430 --> 00:26:53.390 not have been or work typically looking for. So in some businesses your solution 361 00:26:53.789 --> 00:26:57.829 is as reached that product mark a bit. It's a known demand in the 362 00:26:57.869 --> 00:27:03.500 market and you're in the lead identification state. which is a totally different business 363 00:27:03.180 --> 00:27:08.259 than in the demand generation to educate a mark right. So knowing where you 364 00:27:08.339 --> 00:27:15.380 are on that scale fundamentally drives a different marketing strategy in getting customers in the 365 00:27:15.420 --> 00:27:19.089 door. And then how what's the playbook? Who address the immediate need and 366 00:27:19.170 --> 00:27:27.569 expand or to educate to totally different ends of the Specter right? Yeah, 367 00:27:29.250 --> 00:27:32.319 that makes perfect sense to well, thanks for that. Thanks for sharing your 368 00:27:32.440 --> 00:27:38.960 insight with us today. If anyone wants to connect with you to discuss how 369 00:27:40.039 --> 00:27:42.279 they can make that service process more skate whatever more repeat it world or on 370 00:27:42.400 --> 00:27:45.990 theos. Know about insight. SQUIL was the best way to get toe of 371 00:27:47.069 --> 00:27:53.910 you. You can email need directly at t abbots Tabbott at insights werecom or 372 00:27:55.470 --> 00:27:59.500 hitting up on Linkedin. Happy you'll needs with anybody that wants to fork you 373 00:27:59.619 --> 00:28:03.019 dispur that's one off where. Thank you again for your time today. Tod 374 00:28:03.220 --> 00:28:08.500 was absolutely fantastic. Togy on the shore. I enjoyed the time. operatics 375 00:28:08.619 --> 00:28:15.930 has redefined the meaning of revenue generation for technology companies worldwide. While the traditional 376 00:28:15.130 --> 00:28:21.210 concepts of building and managing inside sales teams inhouse has existed for many years, 377 00:28:21.650 --> 00:28:26.930 companies are struggling with a lack of focus, agility and scale required in today's 378 00:28:26.049 --> 00:28:33.079 fast and complex world of enterprise technology sales. See How operatics can help your 379 00:28:33.240 --> 00:28:40.039 company accelerate pipeline at operatics dotnet. You've been listening to be tob revenue acceleration. 380 00:28:40.720 --> 00:28:42.829 To ensure that you never miss an episode, subscribe to the show in 381 00:28:42.869 --> 00:28:48.029 your favorite podcast player. Thank you so much for listening. Until next time, 382 -->

Other Episodes

Episode

June 05, 2019 00:20:41
Episode Cover

43: Three Keys to Building the Perfect Go-to-Market Strategy w/ Adam Stein

What does the perfect go-to-market strategy look like? Well, there’s probably no such thing as a perfect go-to-market. But, by focusing on a few...

Listen

Episode

August 05, 2021 00:23:05
Episode Cover

108: How to Deliver the Experience Your Buyer Wants w/ Josh O’Brien

Buyer experience and customer experience aren’t the same. There’s a lot of overlap, but buyer experience comes down to the answer to this question:...

Listen

Episode

May 07, 2020 00:25:30
Episode Cover

76. Marketing in an Era of Constant Change

We’re perpetually marketing in an era of constant change. Nothing in marketing ever stays the same because nothing in life ever stays the same,...

Listen