I always enjoy hearing about companies eating their own dogfood, but it is rare that it is the CEO utilizing his or her own platform to demonstrate product value post-sale and collecting meaningful customer intelligence.
Last week, Kyle Porter gave a master class on how he has deployed SalesLoft functionality to build relationships with SalesLoft’s top new clients. Not only does it magnify goodwill at the beginning of a relationship, but Porter garners insights into his company’s product and sales process while offering tips to new customers.
here is how SalesLoft leverages Salesforce and SalesLoft to delight its top
Salesforce kicks off a cadence email for each closed/won opportunity over $50,000. The email is a congratulatory note to the primary account rep who closed the deal. It includes a request for an introduction to the executive sponsor.
The email is forwarded by the sales rep to the sponsor with Porter cc’d.
Porter responds and forwards his open times (SalesLoft calendaring technology)
Porter joins the Zoom call with four objectives: Thank them for their business; solicit feedback on the SalesLoft sales experience; share the company vision and roadmap; and share three pro tips which “If they get out ahead of these, they will be wildly successful in sales engagement.” (Zoom is a SalesLoft partner)
The SalesLoft bot automatically transcribes and analyzes the conversation which is shared with internal stakeholders.
Porter sets up a follow-up cadence for six months later.
engagement, this would have required a substantial number of manual tasks and
likely have been limited to top brands or million-dollar contracts. But
with SalesLoft’s cadence and meeting management tools, it is likely that the
time involved on the sales side is four minutes for Porter (note response and
scheduling the six-month follow up), two minutes for the sales rep (email
forward), and the time meeting with the executive sponsor at the new customer
(a high-return use of Porter’s time).
At their HYPERGROWTH user conference this week, Drift announced the acquisition of email reply management firm Siftrock which tracks email replies, routes them to sales reps, and syncs data with marketing automation platforms. Siftrock will be integrated into Drift’s Assistant for Marketing.
“Last year, we started talking about reinventing email and focusing on conversations and replies instead of opens and clicks,” said CEO David Cancel. “Siftrock has built a best-in-class product that manages email replies at scale, and this acquisition will help us deliver on that vision even faster. But most importantly, this is a move that adds real value to both of our customer bases immediately.”
Drift Assistant for Marketing includes email auto-reply detection for updating MAPs and Salesforce when execs change jobs or their emails bounce. The service also drives email calls to action to conversational landing pages instead of a traditional landing page.
A new Conversational Advertising capability which builds conversations around advertising views was also unveiled. Instead of sending prospects from ads to webforms, users are brought into conversations.
“With traditional advertising it’s always been about later,” said Cancel. “You drive people to a landing page, get them to fill out a form, and then someone at the company contacts you later. But with Conversational Advertising, it’s all about right now. We can close the gap and help buyers connect with a business instantly by taking them right from an ad to a conversation to get the answers they need instantly.”
At HYPERGROWTH, Drift rolled out partnerships with Outreach, Marketo, and Demandbase. Last month, they announced Drift Intel, a lead enrichment service powered by Clearbit.
“The key to high-performing ABM strategies is connecting marketing programs directly to sales activity,” said Demandbase CEO Chris Golec. “We are incredibly excited to be the exclusive launch partner for Drift’s new Conversational Advertising product because now B2B marketers can target specific companies with our account-based advertising, and move to a conversation with sales in a single click. The time from engagement to conversation to pipeline has never been faster.”
“Great conversations are the most powerful way to drive conversion,” said Outreach CEO Manny Medina. “To accomplish this, you must have a consistent customer journey, from calls and emails to your buyer’s experience on your website. Now sales and marketing teams can share context from every touchpoint in the customer journey to drive stronger results wherever they communicate with their buyers.”
A Drift Assistant for Sales email feature helps reps prepare for meetings with briefings on the firm’s tech stack, a summary of previous conversations, and an analysis of recent website activity. Other features include no show and cancellation rescheduling and next step recommendations (e.g. meeting follow up notes),
“B2B businesses have gone digital, but we haven’t been able to move on from all of the paperwork,” commented Cancel. “Only a third of a sales reps time is actually spent selling, with over 60 percent of their time wasted on administrative tasks and meetings.
Sales Engagement vendor Outreach acquired sales training firm Sales Hacker. The acquisition amount was not disclosed.
Sales Hacker offers sales training webinars, conferences, podcasts, and online courses. Its blog draws 150,000 unique monthly visitors, and it runs meetups in more than thirty cities. The acquisition will allow Sales Hacker to drop sponsored content, raise the quality of its content, and enjoy access to a deeper set of industry insights.
“Sales is the only profession where the score gets zeroed every few months, which means the best reps are always looking for new ways to stay fresh and attack the coming quarter,” said Outreach CEO Manny Medina. “By providing relevant, unbiased and actionable content directly from seasoned practitioners, Sales Hacker plays a key role in helping today’s reps understand the latest trends, get inside the mind of their buyer, and ensure they are not left behind.”
Sales Hackers’ eight remote employees will be retained including CEO Max Altschuler who will join Outreach as the VP of Marketing. However, Medina told GeekWire that Sales Hacker will continue as an independent company and will not provide preferential treatment to Outreach in its coverage. There will be no Outreach branding on the Sales Hacker site nor will Outreach have access to the Sales Hacker database.
“Our main impediment to growth is awareness that this [sales technology] category exists,” said Medina. “Given that we are the largest, the fastest growing, and the leader in the space, I felt like it was upon us to inject the tide that will raise all boats.”
Medina argued that his competitors will also benefit from greater category awareness, but “given that we are the biggest, we have the most funding, we are the fastest growing, it’s kind of like our responsibility to make sure that the industry continues to grow and the category continues to grow,” said Medina.
“The mission is bigger than just building a company,” said Altschuler. “It’s about building a whole new category around Sales Engagement and Revenue Efficiency. Like how Salesforce pioneered the Cloud and HubSpot pioneered Inbound.”
The deal came together at Outreach’s user conference when Altschuler, an angel investor in Outreach, sat down with Medina.
“Max has this incredible asset, and every year he needs to figure out a growth plan for it, and we have an incredible need to educate the community that sales engagement exists,” Medina said. “So we came together almost magically when we sat down to map out what our problems were, what his problems were, we realized ‘hey we have a lot of alignment here.’”
Outreach is valued at a half billion dollars following a $65 million round D in May. The firm has approximately 300 employees and plans to hire another 50 before the end of the year. It has grown from $0 to $30 million in annualized recurring revenue in three years.
“Outreach has passed the inflection point where it’s less about marketing the company and more about creating a market for the company,” said Altschuler. “Investing in Sales Hacker in this way will allow us to create a better content experience for our readers and our customers.”
SalesLoft added enhanced LinkedIn SNAP messaging tools to its sales engagement services. Sales reps can now send InMails, request connections, submit introduction requests, and conduct research from within SalesLoft and Salesforce. These steps can be built into SalesLoft cadences.
“According to our data science team’s research on derived cadences, more than half of all steps outside of email and phone in SalesLoft cadences are already LinkedIn actions,” blogged SalesLoft Product Marketing Manager Sunshine Levin. “The ability to incorporate LinkedIn Sales Navigator social selling steps from within SalesLoft is important to you, and we listened!”
At SalesLoft’s 2018 Rainmaker event, Doug Camplejohn, VP of Product Management Sales Solutions at LinkedIn, cited LinkedIn research concerning InMail efficacy. While emails have only a 3% response rate, InMails average a 15% response rate. Even more impressive, the best sales reps can achieve greater than a thirty percent response rate.
“LinkedIn-specific steps help salespeople stay focused, do less application switching, and deliver a better sales experience,” said Levin. “The TOPO 2017 Sales Development Touch Report states that more than 80% of sales professionals are leveraging the triple-touch approach of email, phone, and LinkedIn in their sales cadences. Furthermore, over 50% of touches outside of email and phone are through LinkedIn.”
Reps must have active Team or Enterprise Sales Navigator accounts in order to take advantage of this new feature set.
Also new to SalesLoft is a Zipwhip app which allows reps to insert text messaging steps into their cadences. Texts can also be sent and received from a business phone from within SalesLoft. Inbound and outbound messages are grouped into conversations and displayed as part of the contact’s activity feed.
At last month’s Growth Acceleration Summit, ZoomInfo previewed a lead scoring feature which will be available later this year. Users will build models for ideal customers and the associated scores will be displayed across the product including in lists, profiles, and enriched web leads. The goal is to “customize ZoomInfo to each and every one of you,” said CMO Hila Nir at her Product Roadmap presentation. Customization also includes routing and territory management. ZoomInfo will continue to offer tools which foster sales and marketing alignment and look to “take noise out of sales and marketing organizations.”
The company hinted at email templating and territory dashboards, but did not provide details on these future product concepts beyond conference screenshots. Email templating is most commonly found in Sales Engagement services such as Outreach, SalesLoft, and ConnectLeader.
While Zoominfo has not released financials, Garlick indicated that the firm had a strong 2017 marked by “really fast revenue growth.” The firm also added over 100 staff and 2,000 customers in the past year. He attributed the firm’s success to hard work, teamwork, sweat, and tears.
ZoomInfo pricing is a hybrid between number of seats and number of records licensed. While the firm used to be transparent about its pricing, they stopped posting such details a few years ago.
Sales Engagement vendor SalesLoft acquired B2B SaaS Collaboration tool Noteninja. Durham-based NoteNinja provides meeting intelligence which transcribes, tags, and annotates meeting recordings. The service is managed by an AI bot which recognizes upcoming meetings on the rep’s calendar and attends the meeting.
“I realized our category of software was missing something important,” said SalesLoft CEO Kyle Porter. “Neither us nor other engagement solutions were solving an additional problem. Customers told me they need more insights on what’s actually happening during sales meetings. They realize (and Gartner reports) ‘three out of four customers report spending more with a company because of a positive buying experience’. Modern revenue organizations need meeting intelligence software to solve painful problems.”
SalesLoft listed a set of sales challenges that are addressed by meeting intelligence platforms:
Tagging assists with meeting review, helping users search for key moments such as pricing discussions or prospect objections. According to Noteninja, “No longer do you have to click around a meeting aimlessly looking for the right spot. Save time and quickly hone [sic] in on the moments that matter for you and your team.”
Comments can be shared with co-workers or management, providing “game-film for meetings.” These excerpts can also be used for new hire training, objection handling, and learning from top reps.
“I’m incredibly proud for what this means to our customers and the advanced opportunity they will now have to deliver a better selling experience to their customers. With the acquisition of Noteninja, SalesLoft is providing our customers with the first full suite Sales Engagement Platform that combines sales cadences with sales intelligence, serving AEs, SDRs, CSMs, managers, and execs to generate the most revenue.”
SalesLoft CEO Kyle Porter
Noteninja supports major web conferencing services including GoToMeeting, Zoom, JoinMe, and WebEx. Google Calendar, Exchange, and Office 365 productivity applications are also supported. While a SalesLoft connector already exists, the firm is working on a native integration of NoteNinja capabilities which will be offered as a premium feature set within their product line. SalesLoft is targeting August for native availability.
SalesLoft complies with state privacy laws. “We deploy call recording governance for our current dialer and will be incorporating our technology across the platform as we integrate,” said VP of Product Strategy Sean Kester. “We also work alongside the governance and compliance assets deployed by screen sharing technologies.”
NoteNinja does not automatically join meetings with generic (consumer) emails nor does it join meetings with only internal staff. However, this rule can be overridden by including the Noteninja assistant in the attendees list.
Acquisition terms were not disclosed.
SalesLoft has grown to 277 employees with offices in Atlanta, Durham, and San Francisco. SalesLoft supports over 2,000 companies including Square, MuleSoft, Alteryx and Dell.
SalesLoft is ahead of plan in 2018. Q1 was above a “very aggressive” revenue plan to once again double revenue in 2018. Q2 is tracking 120% of plan.
Approximately one-third of NoteNinja customers are joint licensors of the SalesLoft solution.
Customer engagement platform Outreach announced a $65 million Series D last week, bringing its total funding to $125 million. The round was led by Spark Capital and includes investment from Sapphire Ventures as well as from existing investors DFJ Growth, Four Rivers Group, Mayfield, MHS Capital, Microsoft Ventures and Trinity Ventures.
Business Insider placed the valuation around $500 million, more than double the Series C valuation. The firm is eyeing an IPO in 2021 subject to market conditions.
Funds will be deployed towards product development “with a specific focus on machine learning and extending the platform beyond the sales team to every customer-facing role.”
Outreach rolled out the first application of its Amplify AI platform in March for intent classification. “This feature detects the intent of an email reply from a prospect and uses that intent to automate or recommend the next best action for the sales rep to take,” blogged product storyteller Chelsey Feldman. “Our intent classification capabilities use Natural Language Processing (NLP) to go beyond reply rates and measure whether replies are positive, objections, or unsubscribe requests…The result is the ability to measure email effectiveness and classify intent at scale.”
The firm now describes itself as a Customer Engagement company that is employing machine learning “to scientifically test, measure and optimize the performance of sales teams, while also automating non sales-related tasks.”
Medina blogged about this broader company vision last week:
Our mission is to help innovators, the evangelists of new technologies who face a lot of no’s before reaching the yes, to get their products to the people who need them, to successfully build new markets, and to fund the cycle of continuous innovation. For the past couple of years we delivered against that mission by equipping sales reps and leaders to drive predictable and measurable growth, to increase efficiency and effectiveness across the team, and to improve visibility into sales activities and team performance. We pioneered a new category of technology – the Sales Engagement Platform – that drove significant bottom line results for our customers.
But achieving revenue efficiency and delivering a world-class experience to every customer is the job not just of your sales team, but of every customer-facing employee. Many of our customers have already realized the power of Outreach to drive efficiency and lift across the revenue organization and are using Outreach for account management and customer success in addition to pipeline generation and closing. The category has effectively grown beyond Sales Engagement to become Customer Engagement…
You can only make smart decisions around improving customer experience if you can measure the outcomes of every process for all customer scenarios, and understand how those outcomes directly impact revenue. The next revolution in business will be driven not by big bang AI programs that produce lofty recommendations that are difficult to put into action, but by stacking thousands of these quick wins on top of each other to drive efficiency into every corner of the business.
“Outreach has been instrumental in creating and evolving the customer engagement category, which is growing at an exponential rate,” said Alex Clayton, Investor at Spark Capital. “Outreach’s technology, approach and leadership team make it poised to capture this multi-billion dollar opportunity.”
The Series D follows after a strong 2017 where the company doubled its customer base and posted more than 100% revenue growth. Outreach also doubled its headcount over the past year to 300 employees with a goal of 350 by the end of the year. The firm has 22,000 global users and 2,400 customers including Cloudera, Adobe, Microsoft, and DocuSign.
“The customer engagement category is experiencing explosive growth, due in large part to high rates of usage, a rarity for enterprise software which is often used as a data repository or even worse, purchased and forgotten,” said CEO Manny Medina. “Our north star isn’t number of customers, it’s number of Weekly Active Users. This metric is proof we have created a technology that not only drives revenue, but also is viewed as indispensable to every member of the revenue team.”
Usage remains high with 75% of sales reps signing in daily. “Now salespeople have a place to live,” Medina said.