So congratulations to CEO Manny Medina and the team at Outreach. The Sales engagement firm has been going head-to-head with SalesLoft to become the leading vendor in its category.
Outreach is based in Seattle and reached unicorn status earlier this year, a rather impressive feat for a five-year old company that doesn’t rent scooters. It is on track to hit 450 employees by the end of the year and has doubled its revenue growth each year since 2016.
Outreach has 3,500 customers including Adobe, DocuSign and eBay.
One area of rapid growth is in its Galaxy partner ecosystem. New partners include Seismic, BombBomb, and Sendoso. The Seismic integration allows reps to insert Seismic content into emails and multi-recipient sequences via a Seismic icon. Reps are notified when prospects view content, allowing them to “transition the prospect into a high-priority, more personalized Sequence.” Sales reps can also send follow-up content after a successful demo or meeting and modify messaging based upon which Seismic content is resonating.
BombBomb supports personalized videos which are inserted into
sequences. When a recipient watches the
video, reps can trigger an urgent call task or place the viewer into a
high-touch sequence. Recorded videos and
screen captures are also supported. BombBomb is priced at $29.99 per seat per
month with volume discounts.
Sendoso supports sequences which include e-gift or direct mail steps. Reps can also setup triggers when e-gift links are activated or direct mail items received. For example, I recently attended a trade show and received a box of mini-cupcakes afterwards with an accompanying note from the Sendoso sales rep.
I’ve been sitting on a Harvard Business Review article written by Doug Camplejohn since March due to a surfeit of news. I figured that if I couldn’t slip it into my blog in August, I would never get to it. August is when the press releases slow and there is an opportunity to speak about broader topics such as how to write a press release (or not write one).
advice takes a long-run strategic approach to building and nurturing a social
network based upon ongoing engagement, asking for advice during transitions,
and assisting others. As such, his advice dovetails well with real-world
approaches to building relationship networks.
begins by recommending that business professionals build their network with
peers instead of focusing on seniority. A peer-based network grows over
one’s career, creating a network which matures with the professional.
Furthermore, senior-executive response rates are lower than mid-level
managers. Less than one percent of VPs and CxOs respond to cold reach
“People earlier in their careers respond most often to an initial message, while VPs and C-level professionals respond the least to people they don’t already know.”
Doug Camplejohn, VP of Product Management at LinkedIn
Initial messages should be short. Camplejohn recommends three sentences that can be easily read on a mobile device. InMail messages of under 100 words work best with response rates “decreasing significantly” beyond 500 words.
also advises a hook such as an alma mater, joint interest, or a mutual friend.
“According to our research, referencing a mutual connection boosts the
acceptance rate of these messages by 51%, second only to attending the same
school at the same time (53%),” wrote Camplejohn.
notes the value of asking for advice and leveraging transitions. In
fundraising, there is an adage, “If you go seeking advice, you get money; if
you seek money, you get advice.” Likewise, transition periods are an
excellent opportunity to build your network and seek advice.
“If you’re in a transitional period — starting at a new company, switching industries, or moving to a new city — recognize the opportunity to reach out to people, ask for their advice, and absorb their wisdom.”
Doug Camplejohn, VP of Product Management at LinkedIn
recommendation is to pay it forward. Don’t be looking for immediate
benefits or strictly reciprocal opportunities. Social networkers
recognize that they are contributing to the commons, whether helping one person
or adding to the group. Sales reps and others should also continue to
nurture their network, maintaining conversations with colleagues, clients,
partners, and mentors.
“The best way to build a relationship is to help
someone with joy and with no expectation of anything in return. It feels
good, it trains your own sense of generosity, and it informs you of what the
other person values. It also sets the stage for you to ask them something
in the future. You don’t have to offer to help in every circumstance, but
make yourself available as a resource to people, particularly to people who are
just starting out in their careers.”
Camplejohn concludes that online networking should be viewed as an extension of real-world interactions: “Connect with people personally by finding common ground, then build trust and long-term relationships, rather than one-time transactions.”
Costello, which describes itself as sales co-pilot software, released an upgraded integration with SalesLoft. The app displays Salesforce Opportunities from within the SalesLoft sales engagement platform. The service is generally available to joint customers through SalesLoft’s App Directory.
displays a Deal Dashboard and Deal View from within SalesLoft for pipeline
management. Deal Status elements include deal stage, days in stage, days
active, and deal amount. Costello also calls out Deal Gaps (missing deal
fields, days past due), Stakeholders (buyers’ circle with roles and concerns),
Call Summary with notes, and a deal timeline.
reps and managers can quickly review three to five of the most important deal
details such as key buying criteria, key challenges, and desired outcomes.
“Deal View gives reps, managers, and leaders across the company a simple, streamlined view of everything that matters when managing a deal. And it gives your team an easier, more intuitive way to manage stakeholders, so you can quickly figure out who matters most, what they care about, and what their blockers are.”
Costello Chief Strategy Officer Rod Feuer
A single-pane view supports In-line opportunity edits and a unified view which supports quick updates and pipeline review meetings. Costello claims opportunity updates may be performed 75% more quickly. “This is a game-changer not only for productivity but for pipeline confidence,” said Costello CEO Frank Dale.
While most of my blogging is published here, I also write commissioned blogs where I own the editorial. This provides me with additional channels for discussing sales intelligence, sales engagement, and B2B DaaS.
Here are my ConnectLeader blogs with their opening paragraphs:
Marketing Approved Templates and Scripts, “For at least a decade, there have been discussions about sales and marketing alignment and the inability of sales and marketing teams to provide a unified go-to-market strategy. Marketing is concerned that sales reps fail to use their leads, share their copy, or conform to the company’s positioning.”
Drive Sales Productivity with Integrated Sales Engagement, “At their recent Dreamforce show, Salesforce rolled out a Sales Cloud upgrade called High Velocity Sales which helps “identify the best leads, eliminate busy work and boost pipeline.” High Velocity Sales adds customized sequences for sales teams which incorporate best practice sales cadences within Salesforce. Features include email and phone sequences, templates, and call scripts.”
Closing the Loop on Inbound Leads, “My career began as a tele-support rep for an insurance agency automation system. Our role was to quickly return calls from customers and help resolve their system problems. Speed was paramount with emergency calls placed at the top of the queue. Because inbound calls were categorized with brief descriptions and codes, we also gave priority to problems that could be quickly resolved (while it was good for our quotas, there was also no reason to make customers wait an hour for a two-minute fix).”
How to Improve Your Sales Productivity Using a Sales Engagement Platform, “As soon as I submitted my last blog on Sales Productivity, CSO Insights published an update to their quota attainment research. The good news is global sales rep quota attainment rose from 53.0% to 54.3%. The bad news is that it falls within the range of error, so we probably won’t know if sales productivity is truly improving for another year. Even at 54.3%, sales reps remain well below the 63.0% quota attainment level of 2012. When CSO Insights Research Fellow Jim Dickie looked at the underlying metrics, 22 of the 23 operational metrics declined over the past five years.”
How to Think about Sales Productivity, “Research performed by CSO Insights found that sales reps are failing to meet quota at alarmingly high rates. Global B2B quota attainment was a mere 53% in 2016, dropping ten percent over five years. That means that only one in two sales reps is likely to meet quota this year with only a small percentage entering Q4 confident that they will reach quota.”
What GDPR Means to American Firms?, “Back in May, there was a good deal of news coverage around the European General Data Protection Regulation (GDPR). Unfortunately, most of the coverage was hyperbolic with a focus on penalties and how few companies had complied. While the GDPR fear mongering has died down, there is still a need to understand GDPR and comply with the law, even if you have no operations in Europe.”
Local Presence: Handle with Care, “Sometimes, the most effective sales approach may be the wrong strategy. One of these techniques is local presence. For generalized telemarketing, it can lift call connection rates and revenue, but for strategic selling it may result in a negative return on investment”
Usually, I hate listicles. They are one of the laziest formats for blogging and feature articles, but Gong.io put the format to good use in a recent LinkedIn post titled “The 7 most horrifying sales call mistakes of 2019.” I would have gone with the “Seven Deadly Sins of Sales Calls,” but that is a minor editorial nit. Unlike most listicles, the post contained seven in-depth discussions of sales errors with supporting data.
And this data both supports the sales efforts of its clients and prospects and demonstrates the value of its Conversation Intelligence platform which assists with new rep onboarding and play recommendations.
For years, it has been gospel that sales reps should focus on a product’s unique value proposition and benefits. Features should be discussed when the prospect asks HOW, but should not be the focus of a sales pitch. In one graphic (see above), Gong has backed up this recommendation. What is amazing is how quickly a feature dump can sour a deal.
Feature dumping is to sales what bad breath is to dating. It kills “what could have been.”
Chris Orlob, Senior Director, Product Marketing at Gong.io
Chris Orlob, Senior Product Marketing Director at Gong, argues that “Most salespeople are overtrained on their products and undertrained on sales skills.”
My experience is different. It’s not that sales reps are overtrained on features, but that they aren’t trained in how those features map to benefits and their product’s value proposition. They also lack specifics around use cases and how their product provides value to specific industries. This causes them to take a least common denominator approach and hope a feature resonates. It’s the proverbial spaghetti on the wall. But this strategy leads to feature dumping and relying on your prospect to map features to benefits and benefits to value. Reps need more sales training, but they also need to understand their value proposition in the context of each prospect.
Sales reps that understand the concerns of their prospect by industry, job function, job level, and company size and can map those concerns to buyers across the buying committee don’t engage in feature dumping. They focus on their product value in the context of the customer. Features are discussed when they are must haves (“We are GDPR compliant”), but only in detail when the technical buyer or end user requests such details.
I don’t want to recapitulate what is a very strong post from Orlob. Instead, I recommend that you go see what he has to say about steamrolling objections, grand finale product demos, and four other sales sins.
San Francisco-based Revenue Intelligence vendor People.ai announced Round C funding of $60 million along with the launch of its new The Wire next-best-action (NBA) service. The round was led by ICONIQ Capital with participation by Andreessen Horowitz, Lightspeed Venture Partners, GGV Capital, and Y Combinator. Will Griffith, Partner at ICONIQ Capital, has joined the People.ai Board of Directors.
has received $97 million in funding to date. Its valuation was not provided,
but TechCrunch placed the valuation at “mid-nine-figures.”
announcement of our Series C funding represents a critical milestone in
achieving our vision for the Future of Work,” said People.ai CEO Oleg
Rogynskyy. “We’ve already enabled customers to, for the first time,
capture all of an organization’s critical business data, such as contacts and
customer activity data, and deliver it directly to the CRM. This has
significantly improved sales productivity and CRM data accuracy and liberated
the enterprise from time-consuming manual data entry. Today, we’re taking
People.ai to the next level with AI-driven intelligence that provides
customer-facing teams with a simple, personalized set of actions based on
current, historical and industry data that will help accelerate revenue.
When you use The Wire, you’ll have your most productive day at work,
was founded in 2016 and already supports Red Hat, Lyft, Zoom, New Relic, and
Splunk. The firm describes itself as a Revenue Intelligence System:
“People.ai offers the industry’s only Revenue Intelligence System (RIS) that automates the capture of all contact and customer activity data, dynamically updates CRM and provides actionable intelligence across CRM, collaboration, business intelligence, and other management tools for sales, marketing, customer success and services teams – exponentially accelerating growth and delivering actionable insights for strategic business decision making.”
People.ai fills out buying committees for active opportunities, maps contacts and interactions to accounts and opportunities, and suggests next best actions. Applying natural language processing and machine learning to buying committee discovery and NBA are the latest advancement in sales and marketing intelligence.
also supports contact updates derived from email signatures and pulls “critical
information” such as product or competitor mentions, sentiment, and buyer
recently launched Campaign360 service supports marketing attribution by
tracking opportunities influenced or generated by marketing activities.
Campaign360 is the “industry’s only AI-based solution that equips
Marketers with the real-time, full funnel campaign visibility they need at
their fingertips,” said the firm.
thrilled to partner with People.ai as they execute their vision to unleash the
potential of AI to drive enterprise revenue,” said Griffith. “People.ai
is well positioned in a highly strategic enterprise market, leveraging
automation and AI to fundamentally change the way people work.
People.ai’s product, powered by strong network effects, is delivering
insights and productivity at the scale and quality we have not seen previously.
We see an incredible opportunity to accelerate People.ai’s game-changing
technology as they redefine the meaning of the Predictive Enterprise.
People.ai is the Future of Work.”
Partners include Salesforce, Slack, Outreach, SalesLoft, Exchange, and G Suite.
On Monday, I will be covering The Wire, People.AI’s new Next Best Action service.
US sales engagement vendor VanillaSoft received a pair of investments from Quebecois agencies totaling $4 million. A $1 million loan from Canada Economic Development (CED) for Quebec Regions was announced last month followed by a $3 million equity investment from the Fonds Régional de Solidarité Outaouais (FRSO). The round supports their operations in Gatineau and will fund thirty new positions focused on artificial intelligence functionality. Hiring will be expanded in the R&D and sales functions. The loan will also be directed towards marketing campaigns in Europe and Oceania.
technology is changing the way things are done around the world and providing
companies with outstanding development opportunities,” said Greg Fergus, Member
of Parliament for Hull-Aylme. “Not only is VanillaSoft helping the
Outaouais region build a reputation as a leader in the field of artificial
intelligence, but its expertise and the innovative technology it continues to
export will allow it to create 30 jobs.”
“The financial support and incentives provided by the Government of Canada allow companies like VanillaSoft to thrive,” said Hood. “We have the opportunity to develop new markets and services and appreciate the continued support from CED for our local employees as we promote sales and business here in Quebec and beyond.”
VanillaSoft was founded in New Orleans in 2003 but shifted its operations to its Canadian subsidiary following Hurricane Katrina. CEO David Hood recognized the early help from CED and FRSO to help stabilize the firm:
“Katrina hit and wiped out the office in the U.S., and it’s the office here that grew. This would have been a company that was completely in the U.S. Instead, the majority of the employees are up here, the revenues are up here, and it’s Canada that quite honestly is really benefiting from it.”
CEO David Hood
VanillaSoft is the third major sales engagement firm to receive a funding round in the past month. Outreach and SalesLoft both received significant rounds in April.
Key features include sales cadences, email templates, VOIP dialing, call scripting, call recording, SMS marketing, SMS chat, analytics, lead scoring, and appointment setting.
Recent enhancements include geographic functionality and Vidyard GoVideo integration. New Geographical Information System (GIS) capabilities include proximity routing, directional routing, geolocation filters, and automated time zone features. The new GIS functionality helps field sales reps maximize their client and prospect routing.
VanillaSoft noted that, “with many sales reps clocking far in excess of
25,000 miles per year, the ability to group accounts by area and conduct
efficient outreach is critical.”
Directional routing provides reps with optimized maps for visiting
leads. The feature is assisted by proximity routing which identifies
leads by radius around a ZIP code or a point. For example, a sales rep
can identify leads within a fixed distance of a prospect.
Geolocation filters employ geocodes for customer mapping, helping sales operations group leads by city, neighborhood, and street for lead assignment. VanillaSoft also looks at the rep’s calendar to call out nearby appointments which may warrant rescheduling to optimize field sales rep planning.
“You can work either with latitude and longitude, or with ZIP code.
This gives companies a functionality that I’m not aware is available on any
other sales engagement platform. For appointment setting, for companies that
have salespeople out on the road, and also for understanding where your
customers and prospects are and to be able to target them geographically, this
is an incredibly powerful functionality,” said Hood.
The firm also announced that Vidyard’s GoVideo personal video messaging service will be integrated into VanillaSoft.
“Making a human connection between salespeople and their prospects is
critical for sales success,” said Vidyard CEO Michael Litt. “We know video is a
powerful tool for sales engagement and leaders in the space like VanillaSoft
see the potential of this technology for their users.”
While Sales Engagement vendors continue to expand their supported channels, email and phone remain the preferred B2B channels. Preliminary results from a VanillaSoft survey of 2,000 executives indicated that email is the preferred communication channel. SMS and Social Media were not listed as preferred channels with social media peaking at 24% during the need stage and falling to 15% during the evaluation stage
often read and hear about the rise and role of social selling at various points
in the sales engagement process,” said VanillaSoft CEO David Hood, “However, as
these initial findings show, more traditional channels – from email to phone to
simple word-of-mouth – are actually preferred by B2B buyers.”
contact grows in importance from 39% in the Need stage to 54% in the Evaluation
Media remains low, but it is a broad category and likely perceived as more of a
consumer channel. Even young professionals (25 to 34) had little interest
in social as a sales contact channel with only 18% looking favorably upon
social as a desirable sales communications channel. 41% of young
professionals favored the telephone.
Sales Navigator has had significant success as a third channel with messaging,
InMail, and PointDrive. Had LinkedIn been broken out as a distinct
category, it likely would have scored higher. SNAP connectors are now
available from Outreach, SalesLoft, InsideSales, and Yesware. VanillaSoft
is in the middle of its certification process. SalesLoft has indicated
that Sales Navigator is their top ecosystem partner.
omitted were video meetings (e.g. WebEx, JoinMe, BlueJeans, Zoom) which are
commonly used within organizations and work quite well for establishing trust
with prospects, demoing a product, and walking through documents.
“Understanding these types of reality-based findings will allow smart sales professionals to align their activities to their customers’ wants and desires,” said Hood.
LinkedIn does not permit lead/contact downloading. This is part of the privacy agreement they have with their members.
That being said, there are some workarounds. The first is to license Salesforce Navigator which maintains a set of Accounts (companies) and Leads (contacts) within the product. While not downloadable, you receive alerts on those contacts along with messaging tools (InMail, messaging, and PointDrive).
You can also download accounts and contacts (called Leads within Sales Navigator) from Salesforce or MS Dynamics to LinkedIn Sales Navigator. While company and contact data is view only within CRMs, any data entered into LinkedIn (e.g. Notes, InMails) is uploaded to your CRM.
Sales Navigator includes a set of SNAP connectors for CRM, Sales Engagement, and other platforms. This tool provides a subset of Sales Navigator and Functionality within enterprise software. Features include profile viewing, InMail, connections, and icebreakers (talking points).
Option 2 is to license a chrome extension which recognizes domain names and LinkedIn profiles and matches them against their reference database. They then provide contact details and company firmographics within a right-handed side window. These databases usually include email and phone information not available in LinkedIn. Some include other details such as company technographics, news, and Alexa scores. Vendors with Chrome extensions include Zoominfo ReachOut, DiscoverOrg, HG Insights, DataFox, RingLead, Sigstr, PersistIQ, and Pitchbook.
Chrome extensions support send to Salesforce, MS Dynamics, Outreach, and SalesLoft features. Thus, you can be researching a company or contact, click on the extension icon, and kick off a sales engagement cadence within a few seconds (longer if you pause to review the enhanced profiles). A few even include contact prospecting for companies so you can search for specific company roles and
Add them to your CRM as contacts or leads individually or in bulk
Be notified of contacts already in your CRM (to avoid duplicates)
On the heels of Outreach’s $114 million Series E, SalesLoft landed a $70 million round D led by Insight Partners with participation from HarbourVest Partners, Emergence Capital, and LinkedIn. Total funding reached $145 million.
market valuation was not disclosed, TechCrunch indicated that the
valuation was around $600 million. Last year’s Round C valued the firm at
“As the creators of the Sales Engagement category, we’ll use this investment to continue leading the innovation that has come to define the category,” blogged CEO Kyle Porter. “This means investments in our ecosystem API, the mobile application, and our AI-powered sales coaching network.”
out a vision for The Sales Coaching Network of full-time digital assistants
which “gathers data from our network of distributed sellers and identifies what
works and what doesn’t.”
Coaching Network “learns best practices, proven effective across a variety of
situations. It identifies those outlier cases where a creative seller
finds a new, better solution, and adds those techniques to its coaching. This
allows others to learn from the experience of those more creative sellers.”
advice will be tailored to individual sellers and their current activities. According
to Porter’s vision:
The Sales Coaching Network brings out the best in every authentic human-to-human interaction. Sales can never be fully automated, but machines can coach humans in ways that improve our ability to deliver the customer with the best sales experiences while making decisions that allow them to generate the most revenue.
additional funds will also be directed towards expanding their services team,
certified partner network, professional services, and global support.
past few years, SalesLoft has evolved from a cadence service to a multi-channel
communications platform which supports inbound and outbound leads, meeting
management, analytics, and a partner ecosystem. Its top partner,
LinkedIn, is also an investor.
“We are seeing the highest usage in our LinkedIn integration among all the other integrations we provide,” said Porter. “Our customers find that it’s the third most important behind email and phone calls.”
called many of the sales tools on the market “dumb databases or repositories” which
“are not focused on improving how to connect buyers to sales teams in sincere
ways,” said Porter. “And anytime a company like Salesforce has moved into
tangential areas like these, they haven’t built from the ground up, but through
acquisitions. It’s just hard to move giant aircraft carriers.”
doubled revenues the past two years and recently opened an EMEA sales and
support office in London. Recurring revenue has grown ten-fold over the
past three years.
listed a set of reasons for Salesforce’s customer success including company
purpose, reliability, adoption, and impact. SalesLoft’s purpose is to
elevate the sales profession and promote authentic selling:
SalesLoft exists to activate the authentic seller in all of us. While some focus on simply sending more email, we focus on elevating the sales professional as a whole. Today’s buyers deserve an incredible sales experience… one that is sincere, human, and relevant to their needs. They want sellers to provide insights and solve their problems. It’s essential for sellers to take a buyer-centric approach. This is the heart of what we do.
Great sellers also need to be methodical and efficient. At SalesLoft we’re dedicated to helping you codify a scalable and effective sales process so you can consistently hit and exceed your targets.
is based upon email deliverability, phone quality, and application speed.
evidenced by their leadership position on the G2.com grid for Sales Engagement
while impact was borne out by a recent Forrester “Total
Economic Impact of SalesLoft” study which measured a 329% ROI, a 20% lift
in Sales Qualified Leads to Opportunity Conversion Rates, and a 13% improvement
in customer renewal rates.
software companies build a product to meet a market need and then focus purely
on selling. SalesLoft is different. This team is continually
innovating, pushing the boundaries, and changing the face of sales,” said Jeff
Horing, co-founder and MD of Insight Venture Partners. “This is one
reason the company’s customers are so devoted to them.”