Dave Govanjoined us in the Bowery Capital studio this week to record another episode of the Bowery Capital Startup Sales Podcast: “Creating An Effective ‘Total Universe Of Accounts.’” This topic is one that every early-stage startup has spent plenty of time working through: compiling that list of potential customers that your startup plans to target when it first goes out to market. While different founders take different tacks, Dave walked us through the importance of formalizing the process and building a strategy piece that he aptly calls a “Total Universe Of Accounts.” As we’ll learn, there’s a right way and a wrong way.Dave has a stellar background as a long time CRO in the SaaS and marketing technology spaces. Over the last decade or so, Dave has served as an SVP leading North American Enterprise sales at VeriSign, and as an EVP at Sailthru, where he led global sales and oversaw a period of rapid expansion into the company’s growth phase. Currently, Dave is the CRO of DynamicYield, a fast-growing provider of SaaS website revenue yield optimization solutions. Finally, Dave is a prolific speaker on sales best practices in marketing SaaS and has authored a book on the topic calledCrisis In The Enterprise.Creating a “Total Universe Of Accounts” seems—on first glance—like a relatively straightforward exercise. But there are clear pitfalls and common mistakes that can lead to a confused and unfocused sales team early on in the life of a startup. As the CRO of DynamicYield, and a longtime SaaS, head of sales, Dave draws out a number of points that we hope you can use as a guide to improve your sales org. While no Total Universe Of Account is—or can be determined—the same, we lay out a clear process to built a focused, data-driven strategy that can help ensure that your early-stage sales team hits the ground running.EndFragment
Raphael Cartyjoins us to talk about a topic that’s likely near and dear to the hearts of many salespeople, but doesn’t often get much coverage: webinars. Raphael is currently the founder and CEO ofCallida Energy, a software solution that powers building optimization—from energy usage and sustainability to facilities management and automation. Raphael also brings with him a long history of thought leadership in the marketing space, having previously served as Head of Marketing forDealertrack, the market leader in vertical software solutions for the automotive industry and a company with one of the fastest times-to-IPO in recent history. He’s also taught marketing at Harvard Business School and worked in various other CMO and leadership roles in the past. One challenge that he repeatedly faced over the course of his career was driving high-quality leads in a cost-effective way—no doubt a topic top-of-mind for most startup sales leaders out there. In this episode, Raphael joined us to talk about one tactic in particular that he found both dramatically raised the quality of his leads, but also ended up reducing his org’s total spend to acquire them.While we’re all familiar with the traditional screen-shared product demo that an SDR or inside salesperson may walk a potential client through, the concept of a webinar—at least as we’ll define it today—is quite different. While a pointed approach and no doubt a cornerstone of startup sales, the standard demos aren’t effective lead-generation methods. They focus on driving one opportunity home, but because they are usually one-on-one, they are a bit hard to scale and aren’t always optimal tools for lead nurturing or market education since they are more transactional (i.e. “salesy”).Webinars done correctly—as Raphael will describe—are just the opposite: they are focused on educating the lead by discussing best practices more so than individual products (though there’s a time for that too). They give the lead a chance to ask questions and learn about their own industry. They feel like a webinar sign-up is less of a commitment upfront and more of an opportunity to absorb knowledge. Should you be selling into a vertical market, this educational aspect has even greater appeal, which you can emphasize by leveraging industry experts and even product managers to lead sessions.At the same time, webinars draw very high-intent leads and—structured correctly—are perfect venues for leads qualification and scoring (e.g. do they use a competitor but aren’t satisfied, do they have no current solution, did they even know there was even a product available, or are they actually just there to learn?). Even sign-ups who don’t end up attending are often better leads than your standard MQL. Raphael shares with us a few particular anecdotes in which he was able to use webinars to achieve an average conversion rate 3-4x higher than other channels. We hope today’s podcast will clue you in as to how you might execute a similarly successful strategy at your startup.EndFragment
We're back this week with another great edition of the Bowery Capital Startup Sales Podcast with Jon Parisi joining us in the studio to talk about "SDR Training Programs." The topic of SDR Training has been a major passion and interest of Jon's through the years and he has written extensively on this with some great presentations out there for any SaaS founder to follow. He's currently the Director of Revenue Development at GuideSpark and we thought it would be great to have him on to follow up from our prior podcast around scaling sales with SDRs. If you don't know how to train them and grow them, how can you scale them? That's the theory we were playing off of and Jon joined us in the studio to share his knowledge and practical advice.In our podcast Jon and I discuss why developing an SDR training program is absolutely necessary to any SaaS company that is in growth mode and what it takes to build a simple framework for training SDRs (or as GuideSpark calls them RDRs or Revenue Development Reps). We talk about GuideSpark specifically and their SDR training program. Things like how long they do classroom training versus practical or more real world training (spoiler: get them on the phones ASAP!) are really important to this and we go into detail on it. We walk through the materials that Jon's marketing and sales teams provide to the newly minted SDRs, how their ramp times look over the course of the first day, week, month, and then finally what the top level benchmarks need to be to know whether or not an SDR is being effective or not. For GuideSpark, the company doesn't really believe that an SDR is going to be fully ramped until about 3,000 calls which we found to be pretty interesting relative to some other SaaS companies we know. We then touch on identifying your best performing reps and what to do with them as well as what to do with those that aren't making the cut. Jon walks listeners through the concept of a performance improvement plan and how GuideSpark uses it as well as instilling the concept of teamwork and collaboration to help everyone in the organization achieve their goals. We close on some tools and software that Jon's team uses to both create the SDR training program as well as what his SDRs use on a daily basis. This was a fun one and another informative podcast for any SaaS founder who is working heavily with SDRs and developing an SDR training program.