34: 3 Common Misconceptions About Business Development w/ Dan Seabrook

March 27, 2019 00:30:10
34: 3 Common Misconceptions About Business Development w/ Dan Seabrook
B2B Revenue Acceleration
34: 3 Common Misconceptions About Business Development w/ Dan Seabrook

Mar 27 2019 | 00:30:10

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Show Notes

“Isn’t it cheaper to build our own in-house sales development team?”

“How would an external, outsourced BDR mesh with our exiting, in-house marketing team?”

These are great questions, and Dan has the answers.

This episode we tackle misconceptions businesses have about external BDRs and SDRs. Also, we introduce our new co-host, Dan Seabrook.

Dan is the VP of Sales at Operatix, where he’s been for over 4 years, coaching and developing inside sales teams. He reports directly to the CEO (our co-host Aurelien Mottier.)

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Episode Transcript

WEBVTT 1 00:00:02.520 --> 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 get into 3 00:00:12.230 --> 00:00:16.750 the show. Hi, welcome to be, to be a reven new acceleration. 4 00:00:17.109 --> 00:00:20.550 My name is already am with you and today I'd like to welcome a 5 00:00:20.670 --> 00:00:24.219 very special guest to the show. His name is Dancey Brook, then and 6 00:00:24.260 --> 00:00:27.859 I have been working for quite a long way. Is actually our VP sales. 7 00:00:28.140 --> 00:00:32.979 Yeah, at operatics and moving forward it will become one of the cost 8 00:00:33.340 --> 00:00:37.490 of our B to be revenue acceleration, but gust. So welcome to the 9 00:00:37.530 --> 00:00:40.450 show then. Thanks. Right. Yeah, I'm really looking forward to joining 10 00:00:40.530 --> 00:00:43.649 the show and I think there's a lot of people that matter the years and 11 00:00:44.409 --> 00:00:48.969 events, clients, past clients, hopefully some prospects as well, that should 12 00:00:48.969 --> 00:00:51.399 be able to offer a lot of value to to the show. So, 13 00:00:51.679 --> 00:00:53.840 yeah, looking forward to getting going. I think it's going to be a 14 00:00:53.880 --> 00:01:00.399 challenge as well, so looking forward to learning here on the still, I 15 00:01:00.560 --> 00:01:04.269 am absolutely perfect. So you've been with a proactics for nearly five years. 16 00:01:04.430 --> 00:01:10.670 Nearly five years, and before we start every single podcast we ask the people 17 00:01:10.750 --> 00:01:15.390 would just coming as a guest to introduce a bit about themselves. But I 18 00:01:15.510 --> 00:01:19.579 guess what would be interesting for audience today and as you becoming our course, 19 00:01:19.739 --> 00:01:23.379 to my course, to the to the bit to be a rover new acceleration. 20 00:01:23.540 --> 00:01:26.579 But guest, it would be great if you could share a bit of 21 00:01:26.620 --> 00:01:30.859 wrong you know, your journey at operatics. While you started are your progressed 22 00:01:30.379 --> 00:01:34.730 and I think your Johnny is particularly interesting. So would you man just showing 23 00:01:34.730 --> 00:01:37.730 a little bit about your Johnny with us? Yeah, absolutely so, in 24 00:01:37.849 --> 00:01:41.969 terms of going back sort of prior to operatic, you're correct. It's interesting 25 00:01:41.969 --> 00:01:45.409 in the context of working in the industry are in, simply because I've coming 26 00:01:45.409 --> 00:01:48.799 from a sporting background. So I played a lot of sports, particularly football, 27 00:01:49.000 --> 00:01:52.760 or soccer to our American listeners, up until about nineteen and then I 28 00:01:52.799 --> 00:01:56.120 actually took the opportunity to go to university in North America. So my careers 29 00:01:56.159 --> 00:01:57.680 taking me kind of full circle. Now what would what would the involvement we 30 00:01:57.760 --> 00:02:01.549 have in the US? But yeah, in two thousand and fourteen and I 31 00:02:01.629 --> 00:02:07.069 believe I joined operatics and joined operatics and exactly the same position that everyone in 32 00:02:07.109 --> 00:02:09.509 the management team joined the company. So I joined right at the bottom, 33 00:02:09.789 --> 00:02:14.949 which is really in that that business development, sales development type role, whereby 34 00:02:15.150 --> 00:02:19.219 my remit was to work on behalf of my clients to support them to accelerate 35 00:02:19.259 --> 00:02:22.900 the volume of sales engagement they we're having with their target and users, working 36 00:02:23.020 --> 00:02:28.300 with many different interesting companies ranging from cybersecurity to fraud, to storage to big 37 00:02:28.340 --> 00:02:31.129 data. And then, after about a year there became an opening in what 38 00:02:31.330 --> 00:02:36.050 was your sales team course, and yeah, I moved across to the sales 39 00:02:36.090 --> 00:02:39.650 team. So initially I started doing exactly for the sales team what we've been 40 00:02:39.650 --> 00:02:45.960 doing for our clients, which was setting up meetings with potential prospects within target 41 00:02:46.039 --> 00:02:49.560 software companies, and they could have been small, medium or the very large 42 00:02:49.560 --> 00:02:53.840 enterprise software companies. Over the last few years my career developed further, whereby 43 00:02:53.199 --> 00:02:58.629 moved into a fulfilled sales role, which is really my responsibility to help operatics 44 00:02:58.830 --> 00:03:02.629 acquire, grow and retain clients, and then more recently, over the last 45 00:03:02.629 --> 00:03:07.069 sort of year and a half, I guess moving into a I guess sort 46 00:03:07.069 --> 00:03:09.669 of a due role, in that it's a sales management but also a quade 47 00:03:09.710 --> 00:03:15.300 to carrying roll, whereby owning the top line for operatics, but also carrying 48 00:03:15.300 --> 00:03:17.819 a quote to myself. So it's exciting that. I think what I can 49 00:03:17.900 --> 00:03:23.819 offer to our client listeners is experience going right from the bottom way through the 50 00:03:23.860 --> 00:03:27.099 business, having done the job ourselves, and obviously is, as you know, 51 00:03:27.169 --> 00:03:30.689 that's that's a methodology that we apply to everyone that moves into a management 52 00:03:30.770 --> 00:03:32.810 position operatic. Yeah, well, I've got to say so. It's a 53 00:03:32.889 --> 00:03:37.250 great journey. This is a sort of Joyet we look we love to create, 54 00:03:37.569 --> 00:03:40.169 obviously at the paratie. I think you're understood your bottom unity and done 55 00:03:40.210 --> 00:03:44.319 a fontestis. Are Bold the way through. So, but on the back 56 00:03:44.360 --> 00:03:46.439 to you. But here you are now, you know, on top of 57 00:03:46.599 --> 00:03:50.680 being a kind of a chief proven your Fisa, the top sells person, 58 00:03:51.080 --> 00:03:54.639 the person responsible for the top line within the business, here and now the 59 00:03:54.789 --> 00:03:59.750 cost of the bit of be riven new acceleration show. So congratulation. That 60 00:03:59.949 --> 00:04:03.189 was prest promotion, I guess. So I guess let's get drinking. The 61 00:04:03.229 --> 00:04:05.270 first question, because I think, I think there is a few things that 62 00:04:05.310 --> 00:04:09.389 they would like to discuss with you today around the market. We are in 63 00:04:09.590 --> 00:04:13.340 some of the misconception in the market. And the first one I often hear 64 00:04:13.620 --> 00:04:17.819 some misconceptions about sells development, business development, and the one that it is 65 00:04:18.100 --> 00:04:23.339 probably the most present at the moment when we engage risk prospect or even when 66 00:04:23.379 --> 00:04:30.089 we speak to clients, is that outsourcing your pay plane development programs is actually 67 00:04:30.170 --> 00:04:36.410 more expensive than recruiting developing an internal team. So obviously in your rule you 68 00:04:36.490 --> 00:04:42.199 meet with tons of customers right tons of prospects. You've got people from the 69 00:04:42.199 --> 00:04:46.879 day area up to Tel Aviv, going through Paris, unique London. You've 70 00:04:46.879 --> 00:04:51.040 got prospects everywhere. So I'd like to get your thoughts and if you could 71 00:04:51.040 --> 00:04:57.910 share your thoughts on on that topic of the gusts of insourcing versus outsourcing and 72 00:04:58.269 --> 00:05:01.509 is it's really cheaper to Recrut on Tim Yeah, yes, you make good 73 00:05:01.550 --> 00:05:05.509 point. I think the first thing is is indeed that geographical sort of location, 74 00:05:05.670 --> 00:05:09.019 where where you'd be looking to build a team from. You know, 75 00:05:09.100 --> 00:05:12.660 I if I take it in a very sort of simple view, really a 76 00:05:12.740 --> 00:05:15.740 lot of our clients are either building teams up in places like San Francisco and 77 00:05:15.819 --> 00:05:19.980 New York or London in a mitor obviously there's there's anomalies whereby they're built team 78 00:05:19.980 --> 00:05:23.649 from other regions, but I think they tend to send to be the main 79 00:05:24.089 --> 00:05:26.889 kind of locations where they're built team from and and as we will know, 80 00:05:27.209 --> 00:05:30.209 the theay are super expensive not only to live but also to hire and to 81 00:05:30.290 --> 00:05:35.120 build teams are both from a salary and a really state expected and it's very 82 00:05:35.120 --> 00:05:39.959 similar story in London. I think I'm just as as an interesting anecdote on 83 00:05:40.120 --> 00:05:44.360 that. I not only is it expensive, it's also really difficult to actually 84 00:05:44.399 --> 00:05:46.360 recruit both resources. But I'll come on to that point in a second. 85 00:05:46.399 --> 00:05:49.750 I think one of the one of the the obvious pushbacks we get when we 86 00:05:49.949 --> 00:05:53.389 sit down with a client, we build a business case, we put together 87 00:05:53.509 --> 00:05:56.790 proposal. It's a bit of a simplistic view on the numbers. I think 88 00:05:57.069 --> 00:06:00.110 the challenge we often run into is that a client will look at the black 89 00:06:00.110 --> 00:06:03.069 and white numbers of what an operatic business case could look like and just simply 90 00:06:03.110 --> 00:06:06.100 compare that to what the salary of an internal resource would be. And if 91 00:06:06.100 --> 00:06:09.819 you took it at phase value like that in the bay are in London, 92 00:06:09.819 --> 00:06:13.579 I would actually argue it probably wouldn't be wouldn't be too dissimilar, but it 93 00:06:13.699 --> 00:06:16.100 could be slightly. It could look look like a more cost effective option in 94 00:06:16.180 --> 00:06:20.089 hiring internally. But obviously when you work with operatics you don't incur the costs 95 00:06:20.250 --> 00:06:24.769 of things like the cost of seat, the management of the resources, the 96 00:06:25.050 --> 00:06:30.490 technology, the data and the for a one K or or pension contributions and 97 00:06:30.529 --> 00:06:33.040 all the other benefits that go with hiring an employee internally. And when you 98 00:06:33.079 --> 00:06:36.879 add those costs on to a model that the operatic provide, will it will 99 00:06:38.079 --> 00:06:42.480 it starts to actually look more expensive hiring internally versus versus outsourcing. I mean 100 00:06:42.519 --> 00:06:45.680 said that we don't really at operatics and I think you'd agree with this. 101 00:06:45.800 --> 00:06:47.990 We don't really like to sell based on the fact we're cheaper or more cost 102 00:06:48.110 --> 00:06:50.870 effective option. I think we like to sort of get a feel for what 103 00:06:50.949 --> 00:06:54.990 they're trying to achieve it in their business and one of the first questions I 104 00:06:55.430 --> 00:06:58.389 always are ask is, well, what would that internal resource be doing? 105 00:06:58.589 --> 00:07:01.139 And I think often what the feedback is, well, they'll be doing a 106 00:07:01.180 --> 00:07:05.220 lot of inbound response management, so following up on marketing qualified leads, and 107 00:07:05.379 --> 00:07:10.540 often the story that that plays out is that they probably don't have enough in 108 00:07:10.899 --> 00:07:15.730 and they don't have enough market in qualified leads to justify one full time equipment 109 00:07:15.810 --> 00:07:20.089 resource internally. So from from our perspective, operatic will probably expect a full 110 00:07:20.170 --> 00:07:25.529 time resource to require around three, two, four hundred marketing qualifiedly, depending 111 00:07:25.730 --> 00:07:30.279 on quality of the data, to keep them busy for twenty and average at 112 00:07:30.319 --> 00:07:32.360 twenty working days per month. Very often, if we're talking about a start 113 00:07:32.439 --> 00:07:35.680 up, for example, when they're they're entire they're hiring these resource for the 114 00:07:35.759 --> 00:07:39.519 first time. They don't have that volume. So therefore, what are they 115 00:07:39.560 --> 00:07:42.399 going to be doing to keep that resource busy? And and often then it 116 00:07:42.480 --> 00:07:46.069 starts to become actually a from a cost perspective, you need to upoint five 117 00:07:46.110 --> 00:07:48.589 of the resource and we can offer that that flexibility. I think that's particularly 118 00:07:48.670 --> 00:07:53.509 right when it comes to people moving to Europe. When you come into Europe 119 00:07:53.550 --> 00:07:56.589 and you may ever, don't know a little bit of quos in Italy, 120 00:07:56.990 --> 00:08:01.060 a firmount in France, a firmount in Germany, of far want in the 121 00:08:01.139 --> 00:08:03.779 UK, the basically only other budget forsree at Colt. So I think the 122 00:08:03.819 --> 00:08:07.180 beauty of being able to cut and day and having know a quart of a 123 00:08:07.259 --> 00:08:11.740 resource, Spanish Alpha for resource, German Alpha for resource, French, one 124 00:08:11.860 --> 00:08:18.050 full time resource English and being able to manage the slong which is because things 125 00:08:18.089 --> 00:08:20.529 change, is very important. Sorry, I let you carry on number on 126 00:08:20.769 --> 00:08:24.649 your shret of source. Yeah, I think that's a fair point. The 127 00:08:24.689 --> 00:08:28.279 other thing is around the productivity. So yes, you could, you could 128 00:08:28.279 --> 00:08:30.519 do the numbers, you can run some numbers in turn anything. But actually, 129 00:08:30.519 --> 00:08:33.679 yes, I can still make it cheaply because I could hire rep straight 130 00:08:33.759 --> 00:08:35.840 out school, for example in they are or London, and they'd be pretty 131 00:08:35.840 --> 00:08:39.000 cheer. But then the challenge you have to run into what is the productivity 132 00:08:39.039 --> 00:08:43.230 or what's the time for them to be productive from a productivity perspective? Often 133 00:08:43.269 --> 00:08:48.950 we see if you put, if you take purely a proactive outbound approach to 134 00:08:48.029 --> 00:08:54.149 enterprise accounts, will often see that that our benchmark operatics is significantly higher than 135 00:08:54.870 --> 00:08:58.139 perhaps what an internal resource would be. And that's be good in a business 136 00:08:58.259 --> 00:09:01.220 like such as are as we're coming from advantage point where by we have a 137 00:09:01.299 --> 00:09:05.299 lot of clients and we have best practices and data and the management structure and 138 00:09:05.340 --> 00:09:09.450 place allows those resources to be successful. Number One. Number two the time 139 00:09:09.490 --> 00:09:13.690 to be productive isn't it is a really interesting point because again, it could 140 00:09:13.730 --> 00:09:18.610 look more cost effective on paper, but if that resources and delivering any results 141 00:09:18.649 --> 00:09:20.850 for the first three months because you're having to put together a playbook, you 142 00:09:20.929 --> 00:09:24.279 having to train them, you're having to integrate technologies, you're having to go 143 00:09:24.440 --> 00:09:28.279 and find data, you're having to hire a manager to manage that rap. 144 00:09:28.519 --> 00:09:31.960 Well, then they may actually it starts to look a little bit more expensive 145 00:09:31.000 --> 00:09:35.000 if you're getting value from them three six months down the line versus what you 146 00:09:35.039 --> 00:09:39.990 could have got from a company like us almost instantly, simply. Again, 147 00:09:39.029 --> 00:09:43.149 yeah, because we have the best practices in place. So I think they're 148 00:09:43.190 --> 00:09:48.029 two really important pieces, which is around not only the ultimate productivity but that 149 00:09:48.149 --> 00:09:50.590 time to being productive. And then the other point, just to make on 150 00:09:50.669 --> 00:09:54.779 that, is hiring based on strength. What I would say is that if 151 00:09:54.860 --> 00:09:58.820 you were to hire a rest if you want to build a team purely based 152 00:09:58.860 --> 00:10:03.100 on doing inbound response management, I do believe that could actually be, not 153 00:10:03.179 --> 00:10:07.809 in all cases, but using a generalization here, could potentially be more cost 154 00:10:07.809 --> 00:10:11.970 effective and utilizing company like operatics, where we see that we often are augmenting 155 00:10:11.970 --> 00:10:16.649 an internal team or replacing that. That entire sort of proactive approach is doing 156 00:10:16.690 --> 00:10:20.759 exactly that, going to the name accounts, and again that's often where your 157 00:10:22.039 --> 00:10:26.039 revenue is being generated, because the sales team can't necessarily control where those empty 158 00:10:26.080 --> 00:10:30.440 at or definitely can't control where those mqols are coming from. The marketing team 159 00:10:30.440 --> 00:10:33.120 can do a great job, but they're still maybe not getting into the real 160 00:10:33.200 --> 00:10:37.269 target accounts, and that's where I think again, on paper it could look 161 00:10:37.269 --> 00:10:39.590 like a more cost effective option to have the team internally, but if you 162 00:10:39.669 --> 00:10:43.909 can go to your proactive target counts and be successful, go to the sea 163 00:10:43.950 --> 00:10:48.789 level and penetrate those accounts and go and win the large deals within those those 164 00:10:48.789 --> 00:10:52.139 larger organizations and name the counts, well, I think that starts to actually 165 00:10:52.220 --> 00:10:56.740 justify the expending and increase your return investment. So they're sort of a few 166 00:10:56.740 --> 00:10:58.500 of the main points. So we like to discous great I think, on 167 00:10:58.580 --> 00:11:01.340 the on the last point that you made it it's a very good point. 168 00:11:01.419 --> 00:11:05.450 I think you can't blame in say teams. We know when you've got to 169 00:11:05.529 --> 00:11:09.450 coach on following up on in balunds. People then to focus on their product, 170 00:11:09.570 --> 00:11:13.409 the then to focus about MEMMI may product and as far enough, because 171 00:11:13.450 --> 00:11:18.529 you are looking to someone would just made an inquiry or done loaded something. 172 00:11:18.879 --> 00:11:22.320 I basically gave you a signal that they're interested by your product US fromtastic. 173 00:11:22.399 --> 00:11:24.960 So obviously, when your engage with them, they already kind of you the 174 00:11:26.039 --> 00:11:28.639 process of searching, because I in the process of searching. They're probably will 175 00:11:28.720 --> 00:11:33.830 want to have a bit more of a technical conversation and they probably want to 176 00:11:33.909 --> 00:11:37.070 speak about product, and that's fine. You know you can speak about product. 177 00:11:37.110 --> 00:11:39.750 When someone come to you, they are looking to buy your car, 178 00:11:41.230 --> 00:11:43.830 they will already ask you question about okay, this is a sort of engine 179 00:11:43.830 --> 00:11:46.899 that I want, this is the sort of consumption that I want, this 180 00:11:48.100 --> 00:11:50.820 is the sort of size, because as the side of my family or whatever. 181 00:11:50.899 --> 00:11:52.100 So they will have some crate tire and you will have to be a 182 00:11:52.139 --> 00:11:56.460 bit more product driven. However, I agree with you on the point that 183 00:11:56.539 --> 00:12:00.019 when you the account base, what I personally see, when you do a 184 00:12:00.059 --> 00:12:03.450 bit more of an account based approach and you try to practively engage with those 185 00:12:03.450 --> 00:12:07.970 accounts, we see insight Ting, struggling because they've been so are going to 186 00:12:07.009 --> 00:12:09.690 use a very strong term, meal that you know. It's I think, 187 00:12:09.809 --> 00:12:15.649 is ready to being brainwashed by their product team, by their all the people 188 00:12:15.720 --> 00:12:18.440 around them and, of course, everybody in their company telling them other solutions 189 00:12:18.480 --> 00:12:22.879 are fantastic because that's that's the right thing to do, but they are sometimes 190 00:12:22.879 --> 00:12:26.600 a little bit to brain watch about the product and they forget to put the 191 00:12:26.759 --> 00:12:31.029 prospect in the center of the conversation. So, instead of speaking about the 192 00:12:31.149 --> 00:12:37.590 issues that you are facing as a prospect and making hypothesis of the pain points 193 00:12:37.629 --> 00:12:41.110 that you are suffering from and trying to fit use a case within your sin 194 00:12:41.190 --> 00:12:43.700 are you that makes sense with your industry, etc. Exeter etc. They 195 00:12:43.740 --> 00:12:48.019 tend to go straight into the product and from my conversation with syllable people, 196 00:12:48.019 --> 00:12:52.460 who could be infrastructure, you could be CMOS, it could be CIS, 197 00:12:52.539 --> 00:12:56.899 so it could be CIUSDCF was all the from the thin take perspective effect. 198 00:12:56.059 --> 00:13:00.570 Those guys are fed up with people telling them about product. What they want. 199 00:13:00.610 --> 00:13:03.250 They want someone who's got the decency to actually do their research, engage 200 00:13:03.289 --> 00:13:07.730 with them and tell them, well, I've done a bit of research, 201 00:13:07.970 --> 00:13:09.970 because I respect you as a prospect. I know that we'll have one shot 202 00:13:11.090 --> 00:13:13.480 with you only, so that's one shot. This is what I I think 203 00:13:13.799 --> 00:13:16.919 I own dost know your context. This is why I think we can help 204 00:13:18.000 --> 00:13:20.440 you. This is how we veled companies like to in the past and this 205 00:13:20.600 --> 00:13:24.320 is the value of that first engagement with us. And I think it's extremely 206 00:13:24.360 --> 00:13:28.470 difficult for internal team to do so because they may not have access to the 207 00:13:28.789 --> 00:13:33.029 intelligence, they may not have access to the the contacts and and also you 208 00:13:33.070 --> 00:13:35.110 need to have a certain level of confidence to do so. Now, while 209 00:13:35.110 --> 00:13:39.190 aground that point, I've got another question for you which is more on the 210 00:13:39.309 --> 00:13:41.220 short page of skills, and I would like to get your thoughts on that. 211 00:13:41.580 --> 00:13:46.220 In the UK we speaking about something called Brexit. It's a fantastic political 212 00:13:46.379 --> 00:13:50.179 things happening. I don't know if we were going to ever see the end 213 00:13:50.220 --> 00:13:52.820 of it, but it's happening at the moment. Now we know that this 214 00:13:54.059 --> 00:13:58.490 this will mean that they will be less resources, probably less native resources from 215 00:13:58.570 --> 00:14:01.330 France, Germany, Italy, Spain and all that coming into the UK. 216 00:14:01.409 --> 00:14:05.049 Mark, okay, coming to London, but we also know that most of 217 00:14:05.169 --> 00:14:11.200 our clients have operation centers or their head office in the UK. At the 218 00:14:11.279 --> 00:14:16.039 same time, for look at the US. You mentioned San Francisco, so 219 00:14:16.120 --> 00:14:18.720 the bay area in general. You mentioned New York, which I think is 220 00:14:18.840 --> 00:14:24.279 New York Metro Buston, also the great, great quick places and and I 221 00:14:24.509 --> 00:14:28.669 know and I'm being told that the unemployment unemployment rates, so basically that the 222 00:14:28.710 --> 00:14:31.429 rate of people who don't have a job is really low, with looking about 223 00:14:31.470 --> 00:14:35.110 the person or even sometime lesson of persons, and that's good, to make 224 00:14:35.190 --> 00:14:41.659 it very difficult when you've got another two hundred, three hundred competitors right that 225 00:14:41.740 --> 00:14:43.220 the actory trained to do the same thing as you're and trying to recruit be 226 00:14:43.299 --> 00:14:46.820 dea. So I would like to ask you what's the sort of perception or 227 00:14:48.100 --> 00:14:54.610 what's the feedback that you get from your prospect and clients regarding skill stratage and 228 00:14:54.809 --> 00:14:58.330 regarding being able to scale quickly? Yeah, so I think that's a really 229 00:14:58.370 --> 00:15:03.370 important point. So recently we've brought on a couple of clients have said exactly 230 00:15:03.450 --> 00:15:07.679 that. I think this this whole discussion we've just been having around the investment 231 00:15:07.759 --> 00:15:11.639 and comparing that hiring interning versus externally. Yeah, that's that's one. That's 232 00:15:11.679 --> 00:15:15.480 one just that's one sort of threat of discussion. The other thread for me 233 00:15:15.600 --> 00:15:18.919 that I'm having more and more now is well, actually, yes, we 234 00:15:18.000 --> 00:15:22.350 could have a discussion around price, but quite frankly, we don't care about 235 00:15:22.350 --> 00:15:24.269 the price. We just can't find the resources in the bay area, or 236 00:15:24.590 --> 00:15:28.590 well, let's use a bay area for the cent for this example. So 237 00:15:28.950 --> 00:15:31.549 a couple of the clients have recently concous and said we want to actually we 238 00:15:31.590 --> 00:15:35.590 would like to build our internal team. From strategic point of view, we'd 239 00:15:35.629 --> 00:15:37.820 like to have the team internally, but they're just not in in the region. 240 00:15:39.139 --> 00:15:41.340 Interesting anect go a had from someone as well. A lot of the 241 00:15:43.100 --> 00:15:46.379 younger guys that are going into and goals are going into colleges, universities. 242 00:15:46.419 --> 00:15:50.730 They want to and they know there's money in the software industry. They want 243 00:15:50.730 --> 00:15:52.289 to go and do computer science degrees and they want to go come out and 244 00:15:52.370 --> 00:15:56.289 go into technical roles. And actually they are saying that there's less and less 245 00:15:56.289 --> 00:15:58.490 people that are going into sales and marketing roles as there as a leaving school. 246 00:15:58.730 --> 00:16:03.169 So therefore, obviously str or Bedr role being an entry level job, 247 00:16:03.210 --> 00:16:06.600 there's less and less individuals out there. And now not only that, your 248 00:16:06.679 --> 00:16:11.159 point there's there's lots of jobs and not enough people to feel those jobs. 249 00:16:11.279 --> 00:16:15.519 And I think the other challenge that companies are having is a retention problem in 250 00:16:15.600 --> 00:16:18.110 places like the bay area, because I had a conversation with a recruiter at 251 00:16:18.149 --> 00:16:22.350 Ursa gurage conference a couple of weeks ago and they were telling me, they 252 00:16:22.389 --> 00:16:26.750 are telling people that they're speaking to or candidates their speaking to never move laterally 253 00:16:26.870 --> 00:16:30.629 through. In other words, if you've got an SDR and they go our 254 00:16:30.870 --> 00:16:33.820 go to their manager after three months and say I want a ten grand pay 255 00:16:33.860 --> 00:16:37.460 rites, probably the the managers not going to give it to them. To 256 00:16:37.539 --> 00:16:40.340 guess what, they'll go down the road and they'll get an at, they'll 257 00:16:40.379 --> 00:16:44.019 probably get a fifteen k pay rise and they'll get an SDR manager role and 258 00:16:44.059 --> 00:16:47.370 then in six months time they'll go and get an inside sales manager role where 259 00:16:47.370 --> 00:16:49.769 they're carrying where they may be carrying a quote or managing and quote carrying team 260 00:16:49.809 --> 00:16:52.570 as well. So the rate of progression, I believe it's really fast. 261 00:16:52.850 --> 00:16:56.169 I believe it's really tough to retain staff, but I think it's actually difficult 262 00:16:56.169 --> 00:17:00.730 to even attract stuff. So what we're seeing more now as well is that 263 00:17:00.169 --> 00:17:04.599 companies may head be headquartered in in a focal point like the bay area or 264 00:17:04.759 --> 00:17:08.480 like New York or like London. Then they may have different operations centers for 265 00:17:08.480 --> 00:17:11.799 their inside sales function. So, for example, a couple of companies that 266 00:17:11.839 --> 00:17:15.390 are recently spoken to. They're building teams in Austin or they're building teams in 267 00:17:15.430 --> 00:17:22.750 Chicago, because they're then the good universities. The cost of employment is lower, 268 00:17:22.190 --> 00:17:26.670 the amount of competition is lower, therefore the staff retention is higher, 269 00:17:26.869 --> 00:17:29.630 and I mean that's obviously something that we're seeing as well. Being based in 270 00:17:29.710 --> 00:17:33.380 Dallas or and actually just a fraction outside of London. We can attract staff 271 00:17:33.619 --> 00:17:37.220 and we can retain the right caliber of staff as well, but I do 272 00:17:37.339 --> 00:17:40.940 believe that's really becoming a challenge in places like the bay area. Okay, 273 00:17:41.059 --> 00:17:45.490 let's makes perfect sense. So another misconception that often come across is the lack 274 00:17:45.609 --> 00:17:52.730 of alignments of the BIDR team with the seals marketing team. So basically getting 275 00:17:52.809 --> 00:17:56.970 that blue and the Dr Function being an extension of marketing, then fitting up 276 00:17:57.089 --> 00:18:00.759 the cells team. And it seems that people seems to be or prospect seems 277 00:18:00.799 --> 00:18:04.400 to be quite constant when it comes to using an external agency. That kind 278 00:18:04.440 --> 00:18:07.519 of thinking. Well, if we've got everybody internally, we believe that that 279 00:18:07.720 --> 00:18:12.269 blue will glue. If we've got people externally, we believe that you will 280 00:18:12.309 --> 00:18:17.430 have a will ever, an issue in getting people working as an extension of 281 00:18:17.509 --> 00:18:21.190 each other. What are your sorts on that? As thinking that you comes 282 00:18:21.230 --> 00:18:25.230 back to the sales process initially. I think something that we really try and 283 00:18:25.309 --> 00:18:29.180 do within the within the sale processes, in sure that we're speaking to both 284 00:18:29.259 --> 00:18:32.420 sides of the business. So me personally, I would never sell to a 285 00:18:32.460 --> 00:18:36.700 VP sales having never spoken to the VPA marketing because a lot of time it's 286 00:18:36.740 --> 00:18:40.740 coming from a marketing budget. Likewise, I've seen large program of ours in 287 00:18:40.779 --> 00:18:44.369 the past where we've only sold to marketing and marketing have a maybe a pipeline 288 00:18:44.369 --> 00:18:48.609 generation goal or a sales engagement goal and they want to meet it but actually 289 00:18:48.609 --> 00:18:51.250 haven't told the sales team that they're going to put this initiative in place and 290 00:18:51.329 --> 00:18:56.000 guess what, the relationship between our team the sales team is broken from day 291 00:18:56.079 --> 00:18:57.400 one. So that's the first thing. I think it's really important to sell 292 00:18:57.480 --> 00:19:02.519 to both both sales and marketing. The second piece of that for me is 293 00:19:03.359 --> 00:19:07.079 when we do sell to those individuals, it is not about trying to put 294 00:19:07.160 --> 00:19:10.509 together or force together forced potal down their throat, I should say. It's 295 00:19:10.549 --> 00:19:14.069 not about just trying to put together and off the shelf proposal for as it's 296 00:19:14.109 --> 00:19:18.950 really about being integrated into their objectives, though. I think it's really important 297 00:19:18.990 --> 00:19:21.750 for us to understand what what are they trying to achieve this year or this 298 00:19:21.829 --> 00:19:23.579 quart or this second half of the year, is, whether that's from a 299 00:19:23.619 --> 00:19:29.539 revenue perspective, whether that's from a quite line of objective, or whether that's 300 00:19:29.539 --> 00:19:32.740 trying to push into a new region. We need to work back from an 301 00:19:32.819 --> 00:19:37.099 objective of the company in order to have a program in place that's actually impacting 302 00:19:37.180 --> 00:19:41.049 their business. You know, I think if you went to a kind of 303 00:19:41.089 --> 00:19:44.450 bog standard telling marketing company and you sold them a hundred hours of work or 304 00:19:44.730 --> 00:19:47.890 you saved them a hundred meeting, well, what's that really mean to either 305 00:19:47.930 --> 00:19:51.970 the sales and marketing department if it's not integrated into their objectives? That's a 306 00:19:52.130 --> 00:19:53.160 that's the first thing. So I think it comes back to the cell process. 307 00:19:53.279 --> 00:19:56.519 The other thing once we once we get into work with those organizations, 308 00:19:56.599 --> 00:20:00.279 is from day one I think that has to be absolute clarity on what success 309 00:20:00.319 --> 00:20:03.680 is. And when I talk about success, it is well, what's the 310 00:20:03.720 --> 00:20:07.789 qualification for a sales engage? What's the expect to operate? Conversion rate to 311 00:20:07.869 --> 00:20:11.029 opportunity, what is an opportunity and all those different things. So we're absolutely 312 00:20:11.069 --> 00:20:15.670 crystal clear on what success looks like and we're both going in the right direction. 313 00:20:15.950 --> 00:20:19.150 The other obvious thing is communication. I think there's there's two forms of 314 00:20:19.269 --> 00:20:23.539 communication really. I think there's the formal cadence, which is weekly, monthly, 315 00:20:23.579 --> 00:20:27.619 quarterly business reviews, and then there's the informal cadence, which is the 316 00:20:29.099 --> 00:20:33.900 relationship between our team and the sales team in general. And as an additional 317 00:20:33.980 --> 00:20:37.170 point and that, I think it's really important that we have something called the 318 00:20:37.289 --> 00:20:40.730 feedback loop, which is, if a meeting has taken place or if a 319 00:20:41.089 --> 00:20:45.450 conversations taken place, or if we've received an objection from prospect or whatever that 320 00:20:45.529 --> 00:20:48.849 conversation may be, really important that we feedback to the clients, cells and 321 00:20:48.890 --> 00:20:52.160 marketing team that the voice of the customers of what we're hearing in the market, 322 00:20:52.519 --> 00:20:56.440 likewise, what they're hearing back from prospects, that they've been engaged with 323 00:20:56.519 --> 00:21:00.319 bioperatics, so that we can track the conversion rates and we can track what's 324 00:21:00.359 --> 00:21:03.519 good and what's bad from kind of anecdotal perspective. Ultimately, if you put 325 00:21:03.519 --> 00:21:06.789 all those things in place, I think you're kind of integrated into their cells 326 00:21:06.829 --> 00:21:10.150 and marketing teams. Now, in terms of actually bridging the gap between the 327 00:21:10.190 --> 00:21:14.190 sales and marketing teams, a lot of the time we're fulfilling part of account 328 00:21:14.230 --> 00:21:18.380 base marketing. That could be that they've a hundred named accounts and those named 329 00:21:18.380 --> 00:21:22.220 accounts have been selected by the sales team. But the sales team is said 330 00:21:22.220 --> 00:21:25.380 to the marketing team, we need your initiative to go and penetrate those accounts 331 00:21:25.420 --> 00:21:29.059 for us and will fulfill a part of that, where by the marketing team 332 00:21:29.140 --> 00:21:34.009 maybe doing events and webinars and various content email campaign and we're fulfilling a part 333 00:21:34.009 --> 00:21:37.809 of that which is actually a proactive piece of finding the contacts, engaging in 334 00:21:37.890 --> 00:21:41.609 the contacts and creating the demand. And obviously, if you're integrated into that 335 00:21:41.849 --> 00:21:45.730 then and it's and it's part of a sales teams target account, well it 336 00:21:45.849 --> 00:21:49.880 kind of naturally marries the two functions together. So I think it's it's a 337 00:21:49.920 --> 00:21:55.559 few different elements that that's important. Subject I s do in order from thost 338 00:21:55.640 --> 00:22:00.039 on the objective of the end check, so everybody takes responsibility in the process 339 00:22:00.319 --> 00:22:03.670 and then start delivering thing. From May perspective, when we start a company. 340 00:22:03.710 --> 00:22:07.309 It's also learnding some of the smart your results at the beginning of a 341 00:22:07.430 --> 00:22:11.589 complex you can own the respect from both the certain marketing team. And then 342 00:22:11.630 --> 00:22:15.380 I think it's about driving honesty in a relationship. You know, unfortunately want 343 00:22:15.460 --> 00:22:19.380 the business of business development, which is a tough business. It's a saint 344 00:22:19.420 --> 00:22:22.579 not an easy one, particularly when you do it practively. It's tough, 345 00:22:22.700 --> 00:22:26.859 you know. I think everybody will recognize that, and you can just get 346 00:22:26.900 --> 00:22:30.089 it perfect all the time. So it's about being able to have a line 347 00:22:30.089 --> 00:22:33.049 off communication and be able to calibrate when needs be. I've got one last 348 00:22:33.089 --> 00:22:36.650 question for you. Know we're running a little bit of time, out of 349 00:22:36.809 --> 00:22:38.650 time, a kind of like the interactions. We're just going to go on 350 00:22:38.730 --> 00:22:44.559 for a little bit longer today. The last meet misconception at a really sometimes 351 00:22:44.720 --> 00:22:48.440 really burn me in, and particularly want to speak to marketing people. So 352 00:22:48.720 --> 00:22:52.640 we've got office, I've got a few of marketing clients, marketing friends working 353 00:22:52.680 --> 00:22:56.160 in the industry, and sometimes they get frustrated because they feel that the value 354 00:22:56.759 --> 00:23:00.029 out of the the sense of the value of these que and it is not 355 00:23:00.230 --> 00:23:03.990 realized by their insight cells tie. So let me rephrase that basically, they 356 00:23:04.069 --> 00:23:08.109 give a bunch of marketing qualified leads or leads to their cells team and they 357 00:23:08.230 --> 00:23:12.579 don't get any feedback, any written on the sit apart from the further the 358 00:23:12.619 --> 00:23:15.980 leads are not good enough. What's your opinion on that? What what's your 359 00:23:15.980 --> 00:23:22.180 writtle on experience regarding inbound leads and the way they should be managed, the 360 00:23:22.220 --> 00:23:26.819 way they should be treated by INSAC tims? So I think it's an interesting 361 00:23:26.819 --> 00:23:30.970 point. From from my perspective, marketings responsibility shouldn't be to deliver the perfect 362 00:23:30.970 --> 00:23:36.089 lead. It should be to to identify or create some sort of engagement with 363 00:23:36.210 --> 00:23:38.690 a target account or a target persona. And, with that said, with 364 00:23:40.009 --> 00:23:44.640 what we see is probably in a maximum of thirty percent of the time, 365 00:23:44.680 --> 00:23:48.920 and I'll maybe being generous there as well, that the person that's making the 366 00:23:48.039 --> 00:23:52.200 inquiry or is the marking qualified lead is at the right level within the right 367 00:23:52.279 --> 00:23:56.029 target account. So I mean out to use one of your analogies you've often 368 00:23:56.230 --> 00:24:00.670 used always, is that if, for example, if we wanted to buy 369 00:24:00.710 --> 00:24:03.309 a new desk, which hopefully with some of these new clients coming in, 370 00:24:03.390 --> 00:24:06.990 so we'll need to, if we wanted to buy a new desk for operatics. 371 00:24:07.390 --> 00:24:08.430 I don't think it. You and your role as a CEO is going 372 00:24:08.470 --> 00:24:11.099 to go and look online for the desks. You're probably going to ask our 373 00:24:11.140 --> 00:24:15.900 office manager. When you make some inquiries, the person at the furniture company 374 00:24:15.980 --> 00:24:18.740 is probably going to get very excited because there's a sales inquiry, but the 375 00:24:18.779 --> 00:24:22.460 reality is they're dealing with the person that's not actually going to have the authority 376 00:24:22.579 --> 00:24:26.769 just to putch solution or the the furniture in this instance. So that person 377 00:24:26.809 --> 00:24:30.890 will then have to go back to their manager, being you share the cost, 378 00:24:30.210 --> 00:24:33.609 go back again, nego shake, come back to you again, and 379 00:24:33.690 --> 00:24:36.690 ultimately what that means is you're not really dealing with the right person. That's 380 00:24:36.730 --> 00:24:40.279 going to create a very long sale cycle. So there's there's a couple of 381 00:24:40.359 --> 00:24:41.720 things that we do to try and get around that. The first thing is 382 00:24:42.000 --> 00:24:47.279 it is important to service that in bounded that in bound inquiry because from a 383 00:24:47.359 --> 00:24:51.920 customer experience perspective, but also there could be some extremely valuable information to be 384 00:24:52.039 --> 00:24:55.150 gained from someone at a lower level in a business. So you may want 385 00:24:55.150 --> 00:24:59.029 to engage with that analyst becds. It's JP Morgan and Jape Morgan, the 386 00:24:59.150 --> 00:25:02.190 target account for that analyst isn't a target, so you may want to pick 387 00:25:02.190 --> 00:25:04.710 up some information for that person. Then the next step is actually to really 388 00:25:04.789 --> 00:25:10.500 do turn that inbound engagement into a into a proactive approach, which is right. 389 00:25:10.579 --> 00:25:12.339 Well, we know there's some interest from JP Morgan. Who are the 390 00:25:12.380 --> 00:25:15.660 other five to ten people within that business that we would want to engage with 391 00:25:15.779 --> 00:25:21.259 typically and actually turn into a proactive approach, more of an account based prospecting 392 00:25:21.299 --> 00:25:25.730 approach, and go and engage with that those individual with the context that you've 393 00:25:25.730 --> 00:25:30.210 picked up from the lower level individual individual and articulate their value, your value 394 00:25:30.250 --> 00:25:33.849 property proposition, create the demand. I think that's kind of the the really 395 00:25:33.849 --> 00:25:37.920 important takeaway from marketing qualified leaders at they're not going to be perfect, where 396 00:25:37.960 --> 00:25:41.319 you have to use some of the into Intel that you're picking up from that 397 00:25:41.400 --> 00:25:45.119 that inquiry to turn it into a proactive approach. And actually I don't think 398 00:25:45.119 --> 00:25:48.839 enough of the inside sales teams we see are doing that and they just want 399 00:25:48.839 --> 00:25:52.829 to burn through a number of contact accent and hope they find the time and 400 00:25:52.910 --> 00:25:55.670 in the Rath well, actually there's yeah, probably a lot of dinner. 401 00:25:55.750 --> 00:25:59.349 If you turn into a proactive I guess I guess it's a relative but my 402 00:25:59.509 --> 00:26:03.829 take on that is the higher your average deal value, the more you should 403 00:26:03.869 --> 00:26:08.460 force yourself in trying to join the dots between a very average inquiry. That's 404 00:26:08.579 --> 00:26:12.140 just what's going on into the account. Sometimes what we've seen is actually with 405 00:26:12.539 --> 00:26:18.250 one customer I want mention, we realize that fifteen different inquiries from the same 406 00:26:18.289 --> 00:26:25.289 accounts but from different location and basically because the inquiries were on paper, quite 407 00:26:25.369 --> 00:26:30.410 frankly, not the right guy to to junior, probably not the right person. 408 00:26:30.930 --> 00:26:33.359 Most of them were not followed up, but no one actually joined the 409 00:26:33.440 --> 00:26:37.039 DOT. No one looked at them because you had one team dealing with that 410 00:26:37.200 --> 00:26:40.880 area, another team dealing with that as area. So maybe it was more 411 00:26:40.960 --> 00:26:45.480 for marketing, operation cells, operation management issue. But when the door joined 412 00:26:45.880 --> 00:26:48.710 and you realize that, you know you've got fifteen people over the last couple 413 00:26:48.750 --> 00:26:52.789 of ones that have been taking contents, looking at contents and all looking at 414 00:26:52.829 --> 00:26:56.230 the same thing. You can use scrape tools, Le Cells, navigate or 415 00:26:56.309 --> 00:26:59.549 mark them as did. You get some more suggestion and very quickly you've got 416 00:26:59.630 --> 00:27:02.779 that snowball effic of all the people in the food chain. And when you 417 00:27:02.900 --> 00:27:04.980 get all those people in the food chain, what you can do and what 418 00:27:06.299 --> 00:27:08.140 you should do. If, particularly if you average deal value is, I 419 00:27:08.180 --> 00:27:11.940 don't know, north of fifty, eighty hundred k dollars, where you can 420 00:27:11.940 --> 00:27:15.380 invest a little bit in your cust of cells and you should, ever, 421 00:27:15.890 --> 00:27:18.769 more proactive, be they are function and more practive. I S A function. 422 00:27:19.250 --> 00:27:23.130 It's to actually practically engage with contact and just go and talk to them 423 00:27:23.170 --> 00:27:26.049 and say, look, with in lots of activity from some of your colleagues, 424 00:27:26.130 --> 00:27:29.529 what will evel? But were just trying to understand what's going on. 425 00:27:29.890 --> 00:27:33.160 But most importantly, if you are in that approach, you can almost get 426 00:27:33.160 --> 00:27:37.559 a very soft approach of thing. Well, there is lots of information available. 427 00:27:37.559 --> 00:27:40.440 Whatever were what exactly are you looking after? So we can, I 428 00:27:40.599 --> 00:27:44.990 can boil it down and give it to you right. So in a nice 429 00:27:45.029 --> 00:27:48.230 way you're basically helping them to find information and as you are doing so, 430 00:27:48.349 --> 00:27:51.430 you also qualifying them. But I don't fortunately, I don't see that happening 431 00:27:51.829 --> 00:27:55.309 often enough. But that's that's that's it. That's a little frustration at I 432 00:27:55.390 --> 00:27:59.019 will keep and hopefully we saw that tissue out two projects for our clients. 433 00:28:00.059 --> 00:28:02.619 Then were getting to the end of the PODCAST. A shame because of probably 434 00:28:02.660 --> 00:28:06.220 have another twenty thirt equation as we could have. We could have discussed in 435 00:28:06.299 --> 00:28:10.220 length, but I really appreciate your time and insights on the question I had 436 00:28:10.339 --> 00:28:12.210 for you today. I think you couple of wall story that you share the 437 00:28:14.130 --> 00:28:17.369 close to my heart, so I've really really appreciate it as well. I 438 00:28:17.490 --> 00:28:19.490 think our audience will be delighted to are you on our future ipe. Is 439 00:28:19.569 --> 00:28:23.170 that as the cost of the show. Through your experience, through the people 440 00:28:23.210 --> 00:28:26.400 that I know in your network, I think you can also bring some fantastic 441 00:28:26.680 --> 00:28:30.640 guests to the show, so that that's going to get more exciting for audience 442 00:28:30.680 --> 00:28:33.960 and we'll be able to produce a little bit more episodes, which is which 443 00:28:33.960 --> 00:28:37.480 is also great. But before we finish, could you please leave us the 444 00:28:37.599 --> 00:28:41.230 best way to contact you, the best way to engage with you if any 445 00:28:41.309 --> 00:28:45.430 of our listen or where true, want to take that conversation of flaying with 446 00:28:45.509 --> 00:28:48.230 you and discuss any of the topic we discuss in body tails with you? 447 00:28:48.430 --> 00:28:52.029 Yeah, I guess probably the best two places would be. The first one 448 00:28:52.109 --> 00:28:56.220 be my email address, which is Daniel Dot Seabrook operatics dotnet, or the 449 00:28:56.299 --> 00:29:00.220 alternative would be to find me on Linkedin, which is which is Dan see 450 00:29:00.259 --> 00:29:03.539 work. So yeah, I'm looking forward to it. I think been a 451 00:29:03.579 --> 00:29:07.099 good conversation. Looking forward to having more of these discussions with some future guests. 452 00:29:07.220 --> 00:29:10.769 But if you want to get in touch, that the best two means 453 00:29:10.849 --> 00:29:14.529 of communication. That's great. Well, many things once again done. Really 454 00:29:14.569 --> 00:29:18.250 appreciate your time. It's great to have gen the show and very much looking 455 00:29:18.289 --> 00:29:21.930 forward to you being the course and making some great stuff and carrying on a 456 00:29:21.930 --> 00:29:26.599 journey with us the podcast. Thanks very much. operatics has redefined the meaning 457 00:29:26.640 --> 00:29:33.839 of revenue generation for technology companies worldwide. While the traditional concepts of building and 458 00:29:33.960 --> 00:29:38.470 managing inside sales teams inhouse has existed for many years, companies are struggling with 459 00:29:38.549 --> 00:29:45.109 a lack of focus, agility and scale required in today's fast and complex world 460 00:29:45.390 --> 00:29:51.869 of enterprise technology sales. See How operatics can help your company accelerate pipeline at 461 00:29:51.990 --> 00:29:56.900 operatics dotnet. You've been listening to be tob revenue acceleration. To ensure that 462 00:29:56.940 --> 00:30:00.740 you never miss an episode, subscribe to the show in your favorite podcast player. 463 00:30:02.339 --> 00:30:03.660 Thank you so much for listening. Until next time,

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