Revenue Grid Guided Selling (Part II)

Continuing from Part I, a discussion of Revenue Grid and its approach to Guided Selling.


Revenue Grid looks to take the CRM system of record and supplement it with insights and actions that move deals forward.  Insights are both positive and negative.  Risk flags include “The decision-maker is not invited to the demo,” “Close data has been changed for the Nth time,” and “Pricing was discussed at the meeting, but no quote has been sent.” By delivering insights to sales reps and their managers, loose ends, which could result in deal losses or delays, are flagged.  Sales reps and managers can then act upon these insights.  Revenue Grid can also make suggestions based upon internal playbooks and best practices.

In short, AI, historical data, and real-time data are employed to build a set of insights and recommended actions.

Revenue Grid goes beyond engagement metrics at accounts. It delivers a broad set of insights that include competitor mentions, lack of recent decision-makers responses, meetings without agendas, quarterly and monthly trends, and team performance.  In January, sentiment analysis will be added to their insights.

An Opportunities view provides real-time pipeline visibility across all accounts.  Reps can quickly update any opportunity information with the updates synced with the CRM.  Sales reps and managers then have a single-pane of glass displaying current opportunities.  Managers are notified of deal size changes, close dates, and scores and can track activity flow.

The Opportunities view includes signals, next steps, last touch, and overview data, providing a quick synopsis of where each deal stands.

Conversational Intelligence records and transcribes voice and video calls, then indexes and analyzes meetings for insights.  Corporate email communications are also analyzed for insights.  Revenue teams and managers can review call transcripts and listen or view significant moments during the call, with summary topics and insights called out.  Conversational Intelligence is also available for coaching and onboarding sales reps.

Conversational Intelligence recordings and transcripts are saved to accounts and opportunities.

A meeting scheduler fronts Conversational Intelligence.  Reps can insert multiple time slots with clickable times in their emails or offer a calendaring link.  Events are automatically synced between Salesforce and Outlook or Gmail.  Other features include calendar delegation (i.e., setting up an admin or CSR to schedule meetings), recurring event scheduling, and group calendaring across the organization.

Salesforce email synching captures emails, scheduled meetings, contacts, tasks, and attachments.  Accounts, Contacts, Opportunities, and Custom Objects are available for syncing, and multiple records may be updated.  Salesforce admins can set up activity auto-log rules, triggering Salesforce processes.

Sales Coaching offers a team performance view that displays revenue booked by reps alongside leads processed and time spent on external meetings, inbound external meetings, and outbound emails.

A Forecasting report evaluates the target, best case, and committed revenue for the team with plan, commit, and open pipeline values for each rep.  Managers can also compare past periods to find trends and set triggers to send notifications when thresholds are exceeded.

An Activity view displays inbound and outbound communications from sales and marketing over time with adjustable time windows.  Unfortunately, the activity graph does not rescale, making it difficult to view activity over an extended period.

Revenue Grid also supports Relationship Intelligence, showing an Account relationship map and flagging individuals in the organization with established relationships for introductions or briefings.

Revenue Grid’s sales engagement features include multi-channel sequences, email templates, and email tracking.  Channels include email, phone, SMS, and LinkedIn.  Sequences may be managed directly from within Salesforce, Outlook, or Gmail.  All Revenue Grid capabilities are available in the native Salesforce mobile app, including email analytics, notifications, and sequences.

Admins can perform A/B testing of sequences.

Revenue Grid detects replies from one or multiple recipients, out of office notices, opt-outs, and bounces.  It then pauses or halts sequences automatically.  It even halts sequences if the recipient is mentioned in an email or meeting invitation.

An email sidebar displays Salesforce data directly within inboxes and suggests relevant, actionable Signals.


Continue to Part III.

SalesLoft Coach to Close

SalesLoft rolled out its winter release before Christmas.  The lead feature was their Coach to Close functionality that provides frontline managers with “visibility into the specific sales stages where their sellers need the most help.”  Coach to Close aids managers in identifying and proactively coaching reps on the deals that are critical to exceeding quarterly targets.

Coach to Close analyzes stage-to-stage conversion rates at the rep and team level, helping managers identify where deals are being lost and then “quickly drill down into each deal to proactively coach reps through those problem stages.”

“There are always a handful of deals that make or break a quarter.  Helping your sales reps progress and close those deals is your number one priority as a sales leader,” said SalesLoft CRO Steve Goldberg.

Coach to Close provides Deal Analytics (i.e., team and individual conversion rates), a Deal Activity Timeline that tracks account engagement across the buying cycle, and Deal Details that summarize communications, including email, phone, and recorded videos.  

“We are giving our customers the power to unlock and understand their sales data. With outcome-driven reporting and AI/ML-based activity prioritization, sales managers can now spend their time in the areas that will generate the most impact.”

Frank Dale, SalesLoft VP of Product

The other central element in the winter release was integrated support for Microsoft Dynamics 365.  Sales reps can log emails, calls, LinkedIn activities, and other cadence steps directly from MSD.  The Dynamics integration is now generally available.

“Dynamics customers are asking for help as they transform to a digital selling motion,” said Goldberg. “This integration allows companies to leverage all the data in their Dynamics instance to more effectively and efficiently prospect and sell to their customers.”

Other new winter release features include

  • Multi-touch cadence workflows that allow reps to communicate across multiple channels at the same time.  For example, a sales rep can send an introductory email and then Connect on LinkedIn.  Users can run the steps in any order, and emails can be scheduled for later in the day.
  • Bulk edits in workflow management to quickly update users.
  • Filter by Salesforce Opportunity Data lets users filter and sort recorded conversations by Opportunity Stage or other variables.  Users can “easily leverage Salesforce Opportunity data to identify milestone conversions, filter and save views, or access recordings directly from the Opportunity view with our new unified workflows.”

Integrations with Zoho CRM and Qotient talk tracks are coming soon.

November integrations included 6Sense (account data and insights), MonsterConnect (outsourced dialing team), and Vertify (CRM and MAP lead reply analytics).

SalesHood Coaching Command Center

SalesHood Launches Coaching Command Center for Front-Line Managers to Scale Virtual Sales Coaching

Sales Enablement vendor SalesHood released Coaching Command Center, a set of templates, reports, and prompts to assist front-line managers in elevating the performance and win rates of their teams.  

“We’re excited to release more innovation for virtual sales coaching,” said SalesHood CEO Elay Cohen.  “We’re committed to helping front-line managers be better at developing their remote teams and boosting their win rates.”

In a call with GZ Consulting, Cohen emphasized that SalesHood focuses on productivity and outcomes for both sales reps and front-line managers, looking to raise the bar for all managers.  The new Command Center is a coaching dashboard that analyzes performance and what sales reps are doing.  It fosters managerial actions through celebrations, risk identification, and recommending Next Best Actions.  A meetings-in-a-box feature supports coaching huddles and hands-on training, with recorded calls as input, and coaching to-dos.

According to Cohen, “curated coaching can be prescriptive” and should be performance and data-driven.  It should also be scalable and repeatable, making it easy to schedule classes, coaching, and call reviews.  Templates facilitate discussion and coaching.  Open questions and training sessions are noted, and sales reps are notified if task assignments have not been addressed before the next one-on-one.

Along with templates, SalesHood provides a library of sales training tools, including battle cards, product playbooks, and win stories.  Video recording guidance helps non-training professionals (e.g., product managers, competitive analysts, sales operations) chunk content into modules and cover key topics.

New Command Center tools include programs and coaching activities, team leaderboards, curated team videos, prioritized coaching activities, and coaching templates.

The graphical program tracker displays a data-driven timeline with drill-down tasks, helping front-line managers view programs and coaching activities.  The program tracker assists with one-on-one coaching through automated activities, notifications, tips, and scorecards.  A notification flag appears in the right corner of the top banner, letting managers immediately access pending coaching activities.  For example, if there is a recorded pitch for review, the manager can review the video and offer feedback.

Team Leaderboards summarize team performance across engagement, completion, and performance metrics.

Team videos are submitted and reviewed by managers for comments and celebration.  Videos include pitches, demonstrations, presentation dry-runs, deal wins, and stories.

Prioritized coaching activities are delivered to front-line managers on desktop and mobile devices (iOS and Android native apps) with automated coaching activities for pitch practice, role-playing, quizzing, assessments, and story submissions by their team.

SalesHood is packaged with a set of customizable templates for deal reviews, one-on-ones, and even quarterly business reviews.  Templates are customizable to reflect the industry, markets, and sales strategies of firms.

“Right out of the box, SalesHood provides solutions for more structured, more efficient, and more lucrative sales team management,” claims the firm.

“Sales coaching creates space for collaborative skill and deal development conversations.  Effective sales coaches give sales professionals the responsibility of ownership and accountability for their deal strategies from planning to preparation to close…

No longer will you be in the dark on how your reps are pitching to customers or handling common objections. You’ll be in the know as to how and if they are onboarding effectively.  Are they retaining product knowledge?  Do they understand the crucial competitive plays?  Is their messaging creating interest?  Is it aligned with the corporate message?”

“SalesHood Sales Coaching Demonstration” video

Aragon Research predicted that by the end of 2021, 55% of enterprises will have deployed digital sales coaching and learning.

“High performing sales organizations are now making sales coaching and learning a daily habit,” says CEO of Aragon Research, Jim Lundy. “Top salespeople are constantly practicing, and the best managers conduct regular coaching.”  Despite the known correlation between coaching and performance, managers and their teams have been unable to embed this practice into their daily workflows.

Aragon Research placed SalesHood in its Leader quadrant for Sales Coaching and Learning (July 2020), scoring the highest on strategy, but below the other leaders on performance.  Aragon listed a broad set of SalesHood strengths, including sales coaching and learning, sales content management, and front-line manager enablement.  However, the firm noted that SalesHood lacks market awareness.

RingDNA Releases Guided Selling

Sales Enablement vendor RingDNA released Guided Selling, a set of Next Best Actions (NBA) for sales reps.  Guided Selling advises sales reps on what to do, when to do it, whom to contact, and what messaging to employ.  Sales managers can create and deploy preferred playbooks to their salesforce, even without face-to-face training.  Both inbound and outbound selling plays are supported, helping “implement proven playbooks at scale.”

“When you know what winning deals look and sound like, you know exactly where to focus to improve outcomes,” said RingDNA CEO Howard Brown.  “Guided selling uses artificial intelligence to provide revenue teams with tools, insights, and next best actions necessary to win deals, grow accounts, maximize revenue.”

“It’s a fool’s errand to expect a 22-year-old sales development rep (SDR) fresh out of university to develop a consistent, scalable, repeatable prioritization, execution, and qualification process.  Be prescriptive in your expectations and methodical in the tools you arm your teams with…for the overwhelming majority of your team—who have never held full-time, quota-carrying roles and aren’t able to think strategically yet—you must be prescriptive.  You need to show them how to think strategically and tactically as they approach their daily work.”

TOPO analyst Phoebe Conybeare

Guided Selling is embedded into the Salesforce Sales Cloud and delivers prioritized actions for opportunities, contacts, and leads, helping reduce sales rep planning time.  The AI-powered task list recommends the tasks that will put sales reps on “the shortest path to revenue.”  The task list is dynamic, updating based upon prospect behavior.  Thus, priorities are reassessed based on prospect interaction with e-mails, web forms, multi-media, and social media.

Guided Selling includes a set of best-practices templates based upon billions of sales interactions monitored by RingDNA since its 2012 launch. Salesforce Dashboards help managers optimize cadences and messaging, allowing them to test and refine rep workflows.  Cadence activities across e-mail, phone, text, and social are synchronized with Salesforce.

Gartner stated that 51% of sales organizations have deployed or plan to deploy algorithmic-guided selling over the next five years.

“Intended to augment more traditional sales tools, such as sales playbooks, algorithmic-guided selling uses sales data to boost the seller’s ability to engage with prospects…Algorithmic-guided selling leverages artificial intelligence technology and existing sales data to guide sellers through deals, automating manual sales actions while reducing the need for individual seller judgment in the sales process.”

Tad Travis, Gartner VP of Research, “Algorithmic-Guided Selling to Have Significant Impact on Sales Productivity”

“In this new remote paradigm, companies are having to do more with less,” said Brown.  “Guided Selling is a total game-changer for sales teams, as it uses AI to focus reps on next best actions while empowering them to build stronger relationships and better solve customer problems.”

Guided Selling is Generally Available.

Brainshark – TopOPPS Partnership

Sales enablement vendor Brainshark and AI-based sales pipeline management vendor TopOPPS announced a strategic partnership that “will empower sales organizations to deliver ‘in-the-moment’ guidance that improves reps’ skills at key points throughout the sales cycle.”  The combined solution is tailored to the individual learning needs and styles of each rep across the buyer journey.  TopOPPS delivers sales pipeline insights and forecast metrics that help management “understand pipeline activity and identify deficiencies before they impact yield.”  The combined solution identifies skills gaps and then suggests Brainshark learning content.

“Many sales organizations try to do pipeline analysis through their customer relationship management (CRM) systems – but these systems are simply data repositories that provide no actionable insights for sales leaders,” said TopOPPS CEO Jim Eberlin.  “TopOPPS brings that data to life – providing activity analysis at the individual rep level, which enables a much more accurate assessment of pipeline health and productivity.  This enables sales leaders to then use Brainshark to act on this data by delivering targeted coaching that directly impacts revenue.”

For example, Brainshark training metrics are displayed in a combined Coaching view (see the figure on the right).  The view helps managers “track training processes and knowledge retention to understand the readiness of each sales rep and sales team’s ability to sell at the highest level.”  The view also includes over twenty trended sales measures, training insights, and pipeline metrics.

“Managers, a lot of times, will just coach reps generally or are guessing on what they need coaching on.  Our AI (artificial intelligence) will actually pinpoint and make it more precise on exactly what a rep needs coaching on,” said TopOPPS CEO Jim Eberlin.

The two firms have a joint go-to-market strategy and revenue sharing agreement.

The TopOPPS partnership, along with Brainshark’s recent acquisition of sales scorecard vendor Rekener, is part of Brainshark’s mission to deliver “a true data-driven sales readiness platform.”

“Through our acquisition of Rekener last month, and now our partnership with TopOPPS, Brainshark is transforming sales-readiness from art to science,” said Brainshark CEO Greg Flynn.  “With our data-driven platform and associated technologies, sales leaders will always have easy access to the information they need to orchestrate and execute effective sales-readiness strategies that deliver quantifiable growth in corporate revenue.”

Cien Hidden Revenue Assessments

Cien contends that a sales rep is only as successful as his or her weakest skill permits.  Therefore, it is best to determine skill deficiencies and coach for them.

Cien announced the availability of its Hidden Revenue Assessment report which analyzes the strengths and weaknesses of sales reps to determine which qualitative factors are limiting their success.  Cien ingests data from Salesforce Enterprise to “reveal the factors that are preventing their teams from achieving their numbers.”

Cien Head of Marketing Damien Acheson noted that firms such as Gong and Chorus are more prescriptive while Cien is diagnostic, helping managers identify skill gaps and determining where reps add or destroy value during deal flow.

Presented as individual scorecards, Cien employs over 100 AI models to identify issues in sales enablement, training, and onboarding.  Cien does not believe in cloning the best sales reps as reps have different strengths and weaknesses.  Instead, reps are assessed for value-add across the pipeline, helping determine where reps need coaching, which reps are creating value, and which reps are benefiting from a rich set of leads but not adding significant value to them.

Furthermore, their models indicate that addressing weaknesses is the best method for improving sales outcomes and reaching quota.  If a rep is weak at any of the key sales skills, he or she is unlikely to reach quota.  As reps are only as successful as their weakest skills, it is better to identify gaps and coach accordingly.  Cien holds that the best path to driving revenue growth is focusing on mid-level success reps as they are the ones with the greatest opportunity to improve their performance.

“When it comes to managing sales teams, it’s important to understand that no sales rep is created equal, and no opportunity is created equal,” contends Cien CEO Rob Käll.  “To date, Cien’s Hidden Revenue Assessments have uncovered between 20-40% worth of lost revenue due to gaps in selling skills.”

“Cien’s AI models search for correlations between reps’ skills and attributes and their impact on the final value of opportunities.  This is the basis for a set of patented algorithms called the ​Cien Value Chain​.  Cien determines the relative value of each lead as it enters your CRM and tracks its value at the end of the sales cycle.  The Cien Value Chain measures the value-added at each stage of the opportunity and the skills and attributes that drive incremental value.“

Cien FAQ

The Hidden Revenue Assessment is available as a free report to technology companies with at least ten sales reps and a minimum of one year of Salesforce data.  It provides an assessment of a few sample reps across work ethic, product knowledge, engagement ability, and closing ability.  The Hidden Revenue Assessment also evaluates CRM data quality to provide a level of confidence in the assessment.  Firms that have deployed Sales Engagement Platforms such as Outreach and SalesLoft often have complete data as they automatically gather activity data and sync it with their CRM.

Cien “Baseball Card” Profile

The Hidden Revenue Assessment includes a 30-minute walkthrough.

The Cien app, available for $49 per month per rep, provides mentor prescriptions that help prioritize coaching.  While flagging weaknesses can be demotivating, Cien inverts the model and calculates the revenue opportunity available to reps who focus on developing their skills.  Being told that you are weak at prospect engagement is unlikely to motivate a rep.  Being told that focusing on prospect engagement can retire $200,000 worth of quota is much more likely to motivate the rep to focus on his or her weak-link skills.

The Cien app provides data on all of the reps and covers a broader set of skills.  The app also provides dynamic data indicating how the reps are performing over time.

Cien is Privacy Shield certified and does not gather Personally Identifiable Information beyond rep names. Cien received a $3.5 million seed round in June.

Einstein Call Coaching

Einstein Call Coaching Dashboard

Salesforce has been teasing voice services since the last Dreamforce when they launched Einstein Voice Assistant which supports routine Salesforce CRM functions such as creating or updating customer records, getting personalized daily briefings, and exploring dashboards.  This year, they announced Einstein Call Coaching, Service Cloud Voice for transcription and AI-powered recommendation services, and Einstein Voice Skills.

Einstein Call Coaching is currently in pilot and should be generally available as a Sales Cloud High Velocity Sales (SEP) service in June.  Call Coaching utilizes natural language processing against call transcripts.  Managers view “insights and trends within conversational data.”  NLP tags keywords, alerts managers about spikes in competitor mentions, and monitors pricing discussions and objection handling.  Managers can then focus their coaching based upon individual rep needs.

“Companies with dynamic sales coaching programs see 28% higher win rates, unbelievable results.  And Einstein call coaching is your coach.  This is an AI feature that can process audio clips to serve up those key moments for this type of coaching,” said Sarah Patterson, SVP of Product Marketing.  

Being able to track keywords, discussion topics, and competitors should prove highly valuable for one-on-one and team coaching sessions and broader analytics.  Sales reps often fail to record competitor and objection details (or they are trapped in notes).  Even when custom fields are set up to capture these details, they are often weakly populated. Being able to track objections and competitor discussions provides improved coaching and product road mapping input.  This is far better than querying sales reps to be told that they lost on price or aren’t sure who won the deal.

Product tracking and objections also assist with gathering early intelligence following a product launch.  Are the sales reps balking at discussing the new offering, unable to handle objections for which they weren’t trained, or tripping on a missing feature that should have been included in the MVP?

“You launch a new product, but you have no idea whether your reps are actually comfortable selling it,” said Patterson.  “Well, now you are getting the insight you need to know if they are.  And if they’re not, you can lean in to guide them, to coach them, to help them.  More than this, you can even customize this to look for things that matter to your business.”

Call Coaching provides “management-level visibility into key moments during a sales call” allowing the coach to listen to those moments and how the rep handled them.  Those moments are then immediately available for one-on-one review or group coaching.

Call Coaching Insights include tabs for objection mentions, product mentions, talk / listen ratios, and custom topics.  For State Farm Insurance (the Dreamforce demo), this includes life events.

Call Coaching conversation trends help identify market shifts, opportunities for bundled offerings, and emerging competitors.

“73% of managers spend less than 5% of their time coaching their reps, and we wanted to make the most of that time. Einstein Call Coaching helps managers more effectively coach individuals, provides the ability to scale those learnings across teams and gain deeper insights into customer needs and experiences.”

Efrat Rapoport, Director of Product Management, Salesforce Sales Cloud

“Just like athletes can sit down with their coaches and look at video clips, now sales reps can sit down and listen to audio clips,” said Patterson.

Call Coaching also supports a library of best-practice call excerpts for new hire training and sales refreshers.


Tomorrow, I will discuss the other voice tools launched at Dreamforce.

Practice + Authenticity = Modern Sales Excellence

The Greek orator Demosthenes was said to have treated his speech impediment by talking with pebbles in his mouth and shouting above the roar of the ocean waves.
 
In high school, Larry Bird would shoot 500 free throws every morning before his first class.
 
When I started my professional sales career in 2004, I wrote out every opening, iteration, objection handle, and closing approach. I then recorded myself speaking them until I was comfortable. I iterated on each talk track 20+ times until it was authentic and the language flowed naturally. Then I ditched the scripts and went to work.

What can you do outside of your day to day operations to be exceptional at your craft?

SalesLoft CEO Kyle Porter (LinkedIn Post)

SalesLoft CEO Kyle Porter is a strong advocate for authenticity. Simply knowing your pitch is insufficient. Sales reps have to master their craft and infuse it with authenticity. This means developing a deep understanding of how to sell your product and service but then combining what is unique about your story (both personal and corporate) with passion for the product or service you sell.

It also means that you cannot be giving a robotic pitch or a one-size-fits-all spiel. Great salespeople adjust their message and approach to the prospect. This adjustment is across many dimensions:

  • Job Function – What is their department and role within the department?
  • Job Level – How high in the organization are they?
  • Industry – What is your value proposition with respect to the purchaser’s industry? How do they benefit?
  • Buyer Role – As part of a purchasing committee, are they the economic buyer, technical buyer, influencer, etc.?
  • Prospect Knowledge about Your Offering – You need to understand how knowledgeable they are about your offering and those of your competitors and then speak to that level.
  • Concerns – The larger the value or strategic importance of a B2B purchase, the greater the FUD (fear, uncertainty, and doubt). FUD is also higher if the total cost of ownership or switching costs are high. If you are inauthentic, you can raise the level of FUD. If you can connect authentically with the buyer, you build trust and drive down the level of FUD.
  • Individual – What are the individual concerns of the buyer? What is the buyer’s communication style?

Scripts work well for novice reps and those learning a new product category or vertical, but they should be viewed as building blocks towards a polished, authentic sales voice.

One should also avoid focusing on features. A feature-focused monologue says to buyers, “you figure out whether my product / service will help you because I don’t understand that myself.” The focus should always be on benefits and value with features only used to justify your value proposition or to address concerns of technical buyers.

And the conversation needs to be interactive. Meeting intelligence analytics display who is talking during a call. A sales rep can visually review whether he / she controlled the conversation or it was a true conversation.

Sales trainers have begun emphasizing the value of storytelling as a way to connect with the emotional buyer. Marketers long approached consumer sales as an emotional pitch and B2B as a rationale pitch, but are now arguing that rational B2B pitches ignore the inherent FUD involved when making strategic purchases.

As sales reps begin to be coached by sales engagement analytics (directly and via feedback from managers and trainers), they should shift away from controlling conversations and become more interactive, present, and empathetic.

LinkedIn Sales Navigator Q2 2019 (Part I)

The new Sales Navigator Coach encourages reps to explore Sales Navigator. It is located on the redesigned home page.
The new LinkedIn Sales Navigator Coach encourages reps to explore Sales Navigator. It is located on the redesigned home page.

LinkedIn Sales Navigator has been rolling out its Q2 release to customers over the past few weeks.  The new functionality includes a redesigned home page, improved keyword searching, custom list enhancements, and additional Sales Navigator Application Platform (SNAP) connectors.

The homepage emphasizes alerts and the new Sales Navigator Coach.  The Coach is a training tool with a gamification feature – a progress meter which shows your level of product mastery, from Beginner to Expert.  Reps are shown three recommended actions.  They can either try a recommended action or watch a short training video.

All of the Coach features, with the exception of PointDrive, may be executed from a mobile device.

“This is just the beginning for Sales Navigator Coach, and we can’t wait to bring more personalized education to all our Sales Navigator customers. We’re also excited to bring Sales Navigator Coach to usage reporting later this year.”

Sales Solutions VP of Product Management Doug Camplejohn.

Several features on the homepage have been moved.  The SSI (Social Selling Index) tool is available via a drop down and the newsfeed has been replaced with an alert feed.


Note: This is part one of my profile of the Q2 2019 release. Tomorrow I will be covering enhanced alert functionality.

SalesLoft Round D

SalesLoft Round D
SalesLoft Round D

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.

While the market valuation was not disclosed, TechCrunch indicated that the valuation was around $600 million.  Last year’s Round C valued the firm at $250 million.

“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.”

Porter laid 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.”  

The Sales 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.”

Coaching 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.

The additional funds will also be directed towards expanding their services team, certified partner network, professional services, and global support.

Over the 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.”

Porter 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.”

SalesLoft 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.

Porter 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.

Reliability is based upon email deliverability, phone quality, and application speed.

Adoption is 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.

“So many 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.”