Once again, I’m writing about a SalesTech or B2B MarTech firm that had strong growth during the pandemic. Simply, B2B firms sped up their digitization and looked for online methods for internal and external communications. With WFH and the recognition of subscription revenues over the life of contracts, it is highly likely that 2020 strength will continue into 2021. In the case of Brainshark, they increased both their new business contracts and multi-year renewal rates. Brainshark also announced off-the-shelf learning content from a pair of training companies: ValueSelling Associates and 2Win!.
Sales Readiness vendor Brainshark posted sixty percent growth in platform usage last year with a 38% increase in new business. 71% of the new contracts were multi-year, with multi-year renewals up 40% year over year.
“Companies across the globe had to completely rewrite their playbook when the pandemic began disrupting business one year ago,” said CEO Greg Flynn. “Many realized improving their sales readiness was a way to gain a competitive advantage. They also realized Brainshark’s proven, award-winning platform was just the tool they needed. We’re especially thrilled to see our customers utilizing our coaching solution more than ever because we’ve seen first-hand the impact it can have on an organization’s bottom line.”
Citing a CSO Insights study that found that firms with dedicated sales enablement teams had a 15.3% higher win rate on forecasted deals, the firm stated, “Brainshark can be the foundation of a successful sales readiness strategy, helping organizations equip sales reps with the knowledge and skills they need, measure preparedness, and connect readiness to revenue.”
Last year, the firm launched Sales Readiness Scorecards, which “provide more powerful, instant, and comprehensive visibility into whether reps and their teams are prepared to engage with clients and prospects.” Scorecard data is pulled from Salesforce, providing firms with pipeline and performance KPIs. In 2021, Brainshark plans to deepen CRM integrations for expanded metrics and coaching tools.
“The questions sales enablement professionals need to answer go beyond ‘Are our reps ready?’ The more important question is, ’Are our readiness and enablement programs working? Scorecards provide that clarity. Enablement leaders can discover which reps need help with certain parts of the sales process, and then build learning programs to address those areas for maximum impact. At the same time, sales managers have critical performance data at their fingertips that allows them to be better, more strategic coaches.”
Brainshark Chief Product Officer Greg Keshian
2Win! training “helps sales professionals master demo, presentation, client success, and storytelling skills, especially in a virtual world.”
Julie Thomas, CEO of ValueSelling Associates, said, “Our eValueSelling Fundamentals is a fast track for those who want to learn value-based selling. By blending real-world examples with interactive exercises and quizzes, users learn how to prepare for a sales call, assess the health of opportunities, and ask questions that engage prospects. This program makes for a perfect integration into Brainshark’s platform, allowing sales enablement leaders a simple and convenient way to build their training content and accelerate their results.” Brainshark lists BCI and go1 as additional training content partners.
Highspot became the latest Seattle-area unicorn following a Series E that valued the firm at $2.3 billion. The Sales Enablement platform, which was launched nine years ago by three former Microsoft employees, closed on a $200 million round led by Tiger Global Management. Bain & Company, CONIQ Growth, Madrona Venture Group, OpenView, Salesforce Ventures, Sapphire Ventures, and Shasta Ventures also participated.
“Sales enablement is about more than sales. It connects everyone from marketing and sales to post-sales in delivering a unified buying experience that wins, retains and expands customer relationships,” said Robert Wahbe, CEO, Highspot. “Scaling your go-to-market strategy is a complex process with a large gap between strategy and action. We close this gap. Our single, unified platform improves sales performance by turning strategy into successful execution.”
Customers have deployed the Sales Enablement Platform for sales onboarding, ongoing training, content management, guided selling, rep coaching, engagement intelligence, and 360-degree analytics. They include DocuSign, General Motors, John Deere, Nestle, and Verizon Media,
The firm has over 500 employees in Seattle, London, and Munich. It plans to open an office in France and enter the APAC market in 2021. In May 2020, it opened up a Munich office to support its D-A-CH operations. Highspot doubled its EMEA revenue in 2020.
Highspot supports users in 125 countries.
Highspot does not disclose its revenue but told Bloomberg that ARR increased 900% over the past three years.
Last year, Highspot connected over three million salespeople, channel partners, services reps and customers in digital sales experiences, with usage double that of 2019. Highspot’s community of sales enablement professionals, Sales Enablement PRO, reached 13,000 members.
“Salesforce changed sales 20 years ago. Marketo changed marketing 10 years ago. Now, Highspot’s vision is to fundamentally change the way companies go to market,” said John Curtius, Partner, Tiger Global Management. “Highspot’s secret is an authentic commitment to people – their employees, customers and partners – that inspires a tremendously collaborative and resilient culture. We believe they’re capable of sustaining unmatched levels of innovation to achieve their vision.”
“There’s a famous Harvard Business Review article that 70% of strategic initiatives don’t work. Sometimes it’s not because the strategy isn’t right, it’s because they can’t translate it to the actions taken every day by their frontline sales team. We allow them to do that.”
Highspot CEO Robert Wahbe
The new funding will “accelerate platform development, including deeper insights into go-to-market strategy and execution offered through Highspot’s industry-only Scorecards.”
HighSpot also plans to grow its partner ecosystem, expanding its sales methodology training partnerships, technology partners, and Sales Enablement PRO community.
To fuel its growth, Highspot is hiring across “every business function.”
“Over the past year, sales enablement has emerged as a strategic imperative,” said Mark Kovac, Head of Bain & Company’s Global B2B Commercial Excellence Practice. “Companies that have built world-class enablement teams and technology are managing change and uncertainty at scale, while others struggle with agility and inconsistent performance. We believe Highspot’s differentiated approach will become the foundation upon which modern businesses achieve consistent revenue growth and market share gains.”
I had four tradeshows canceled this month and next. They were opportunities for me to meet with customers and prospects (and conduct research for my industry newsletters). At this point, I’m assuming that at least two more will fall by the wayside in H1. I’m sure many of you are in a similar boat. Your marketing calendar is in a shambles, your field and inside sales reps are cloistered at home, and you are uncertain about how to manage remote workers.
Here are some ideas about how to retain momentum and deploy technology to mitigate pipeline and operational risks:
If you haven’t deployed video widely across your workforce, due so ASAP. Vendors such as Zoom, WebEx, BlueJeans, Join.Me, and GoToMeeting provide reliable video conferencing solutions for multi-party meetings, demos, and document sharing. Video Meetings are a do not pass Go, donot collect $200 requirement. Every customer-facing, development, management, and planning employee should be able to join meetings from home or the office.
Setup scheduled video meetings for the next three months so they are blocked out on team calendars. This could be a 15-minute corporate call every few weeks, weekly team calls, and one-on-ones. Standing meetings should all be web-based. Office-based employees are going to feel disconnected socially, so build in some social fun at the team level (e.g. recognizing birthdays and work anniversaries, celebrating wins and releases, etc.)
I would also build training time into video meetings. It shouldn’t be all top-down. Give your staff the opportunity to cross-train peers. A sales rep could discuss her latest victory with lessons learned or provide insights into a target vertical. Marketing can review the latest product positioning and new collateral. Product Management can train on new products, review the product roadmap, and discuss the competitive landscape. The goal is to provide training, communications, coordination, and social interaction.
Record meetings and make them available to those who miss meetings with Slack or Team links. Expect that meetings will be missed due to illness, parenting requirements, and meeting conflicts.
As event marketing is off the table, marketers will need to be flexible in how they deploy their budgets. For those that planned on hosting events, they should at least proceed with their Keynote as a webinar. For H2, a roadshow in September or October can be planned, but mitigate risk in your contracting and through joint shows (shared cost and risk).
Marketers will need to deploy or expand their use of other channels including webinars, press releases, analyst outreach, blogging, social, and video. Direct mail is problematic as prospects are likely to be working from home, but e-gifting is a viable option. Look at e-gifting vendors that are supported by your Sales Engagement platform (e.g. Sendoso, PFL, Alyce)
Here is an opportunity to test additional channels and provide your event marketing team with some cross-channel development.
Canceled shows are also a reason for re-engagement campaigns. You can restart the marketing nurture process with a message around “not being able to talk to you this season.” Keep the message short and serious. You don’t know if your prospect is worried about his or her job, family members, or personal health. Also, don’t appear to be taking advantage of the situation. Be empathetic, not opportunistic.
Also, make sure to reschedule meetings from those cancelled conferences. These are likely to be phone or video calls, but reps and executives should reconfirm calls now.
Once you have standardized meetings, make sure they are recorded and transcribed. This is particularly true for sales meetings. Conversation Intelligence vendors such as Gong, ExecVision, and Chorus record calls, transcribe them, and perform NLP/AI processing on the conversations. Conversation Intelligence allows sales reps to be more present during calls as they no longer need to focus on note-taking.
Transcriptions and analytics have multiple benefits:
Sales Reps can quickly review calls and return to key topics and issues (e.g. pricing, next steps).
Sales Managers can review calls related to accounts and opportunities at risk to provide coaching tips to reps.
Analytics identify both the strengths and weaknesses of reps versus their peers. They also flag missed actions (e.g. discussing next steps), customer concerns, and competitors. To assist with training and opportunity scoring, Conversation Intelligence vendors identify filler word frequency, monologue length, and conversational engagement.
Reps can forward snippets to peers for questions and help. If there is a question about a bug or support issue, the snippet can be forwarded to support personnel for an update. If a sales rep feels that they handled a question or issue poorly, a snippet can be forwarded to sales management or training for advice on how to better handle the issue next time. Snippets allow peers to hear the voice of the customer.
Snippets can be stored in a library for training purposes. These would include exemplars for objection handling, competitor parrying, value discussions, etc.
Product Managers can perform bulk analysis of sales calls to identify requested features, competitor discussions, and product issues. Vendors allow for keyword customization and analytics.
Sales Cadences, also called sequences, are at the core of Sales Engagement. Cadences set up a structured set of multi-channel outbound communications supported by email templates, dialers, social, and SMS text. Cadences improve sales efficiency by eliminating follow up tasks, recording activities to CRMs, and deploying A/B tested content (emails, attachments, cadences, call scripts). While most commonly used for SDR outreach, cadences can also be used for meeting reminders, setting up quarterly account reviews, and training follow up.
SEP vendors understand that authenticity is the key to sales success. Simply blasting mindless emails at prospects is futile. Cadences can be customized by target role, industry, company size, technographics, and stage in the buyer journey. Furthermore, reps are expected to personalize emails before sending them out (SalesLoft says 20% is the optimal level). Most of the vendors now support 1-1 embedded videos from Vidyard, Hippo Video, or Videolicious.
SEP Vendors also provide a deep set of analytics. Initially, these focused on communication efficacy (e.g. open and click-through rates, best time of day to call), but now analytics assess conversations, call out deal risks, prioritize accounts, and suggest next best actions.
SEPs are now commonly deployed amongst SDRs and Inside Sales, but may still be foreign to field sales reps; however, field sales reps will be operating more like inside sales reps for the next quarter, so deploying SEPs to field sales makes sense.
Beyond outbound communications, SEP vendors are beginning to support meeting management (setting up calls), conversational intelligence, and opportunity management. SalesLoft and Outreach are the farthest along in supporting these emerging feature sets. SalesLoft acquired and integrated NoteNinja (meeting management) and Costello (opportunity management) into its platform.
SEP Vendors have taken two approaches to partnering. SalesLoft, Outreach, and Xant have partner App Directories while the other vendors integrate key vendors (e.g. Vidyard, LinkedIn Sales Navigator, Zoominfo) into their offerings without a formal partner ecosystem directory.
For B2B sales, there is no social platform more trusted than LinkedIn. Sales reps can leverage their networks by sharing marketing content (they should include some comments of their own) as well as writing their own content.
LinkedIn also offers an excellent Sales Intelligence product called Sales Navigator. It is available as both a desktop and mobile solution and provides additional communications channels:
InMail: An outbound email alternative, InMail allows you to message prospects for whom you lack emails and direct dial numbers.
Chat: A quick short-message way to keep in contact with members of the buying committee. It is also useful for quick reach out after establishing a LinkedIn connection with a prospect or to send a quick, congratulatory note. Chat messages are retained archivally, providing a conversational log. I have had success providing my Calendly link with initial chats, providing a mechanism for new connections to easily schedule a call (my Calendly includes my video meeting details so there is little friction).
Smart Links: Forward one or multiple attachments to a prospect via social, InMail, or email. Viewing and forwarding are tracked by LinkedIn, helping reps know which content was viewed and when. Forward tracking helps expand their understanding of the buying committee. Smart Links maintain corporate branding.
Sales Navigator provides several other high-value features:
SNAP connectors display LinkedIn content and Navigator functionality (e.g. icebreakers, mini-profiles, InMail) within Sales Engagement Platforms, CRMs, and other enterprise software.
TeamLinks allow you to leverage co-worker relationships for reaching out to prospects.
Build a List lets reps assemble Lead (contact) and Account lists within Sales Navigator. Lead and Account lists may also be synced from the CRM, allowing reps to track news and updates about key companies and contacts. While LinkedIn does not permit upload of account and contact data, they make exceptions for notes, tags, and messages entered by the rep in Sales Navigator. They also just added a thin record upload of contacts to CRM and the ability to flag execs that have left a company.
List Sharing — After building a list, users may share them with co-workers who have Sales Navigator licenses.
Sales Navigator can be a bit pricey, so running a test amongst your inside sales and field sales reps makes sense, particularly if you are concerned about H1 pipeline delays. Given the difficulty of reaching anybody by phone (made worse by prospects working at home) or email, adding additional sales communications channels is well worth testing out.
There are other LinkedIn services worth investigating or trialing. LinkedIn Marketing supports highly targeted B2B campaigns. Unlike other platforms, LinkedIn can target by company, job function, level, industry, geography, and education. LinkedIn provides campaign metrics and allows marketers to set daily budgets. Both CPM and CPC pricing are available. Pricing is based upon second-best auctions (you pay 1 cent above the second best bid price).
For larger companies, LinkedIn Elevate should also be considered, particularly with remote workers. Elevate provides a curated feed of content to company employees for social media distribution (e.g. LinkedIn, Twitter, and Facebook). Elevate amplifies corporate messaging and reduces the level of effort for sales reps and other employees to share content through social networks.
LinkedIn Learning is offering sixteen courses at no charge covering topics related to working from home, remote management, tools, and mindset.
“In the coming days, we will make 16 LinkedIn Learning courses available for free including tips on how to: stay productive, build relationships when you’re not face-to-face, use virtual meeting tools (Microsoft Teams, Skype, BlueJeans, Cisco Webex and Zoom), and balance family and work dynamics in a healthy way.”
Ryan Roslansky, LinkedIn SVP of Product
Sales Intelligence services help sales reps build prospecting lists, quality leads, refine account messaging, expand into new departments and locations, track accounts, and target additional buying committee members.
Many sales intelligence services also offer B2B DaaS services for updating CRMs and MAPs. Salesforce data hygiene is maintained through Lightning Data connectors, a sub-category on the AppExchange. Because data is synced with CRMs and MAPs, it is continuously updated, ensuring that firmographic data is accurate and that departed contacts are removed from sales and marketing activity (BTW — contacts decay at 30% per annum, so maintaining your enterprise software contact data is a valuable investment)
Sales Intelligence vendors also provide full workflow integrations into CRMs which allow reps to build lists; view and update accounts, contacts, and leads; and perform account qualification and account planning within CRM I-frames.
Sales Intelligence vendors include
Zoominfo: Deep contacts, emails, org charts, and technographic content. They are the leader in technology sales intelligence and recently added visitor intelligence, trigger-based workflows, and webforms. Zoominfo (FKA DiscoverOrg) also supports Ideal Customer Profiling (ICP), email verification, and B2B DaaS.
D&B Hoovers: The deepest set of global company intelligence for strategic sales reps. Includes full family trees, public company financials and filings, analyst reports, industry market research, SWOTs, European private company financials, and sales triggers. Dun & Bradstreet also supports ICP, B2B DaaS, Visitor Intelligence, Programmatic Marketing, and Customer Data Platforms.
InsideView: A global database with greater depth in North America and Europe, InsideView offers strong sales triggers and integrated social media viewing. InsideView also supports B2B DaaS and ICP.
Sales Genie: The best solution for reps that sell to both companies and individuals (e.g. insurance agencies, mobile, office supplies, landscaping). Features include light sales force automation for firms that have yet to implement a CRM, new businesses, new homeowners, email templates, integrated dialer, and marketing services (SEO, site design, direct mail).
RelPro: A specialist vendor targeting financial services companies.
Artesian Solutions: A UK-based social selling vendor with deep sales triggers and mobile-based meeting prep. They also offer a US solution.
Cognism: A UK-based sales intelligence vendor with sales engagement functionality, B2B DaaS services, and ICP tools.
Vainu: A Nordic-based sales intelligence vendor that also covers the Netherlands (France, US, and the UK are in beta). They also support B2B DaaS and trigger-based workflows.
Research has shown that firms that continue to invest during recessions come out of the downturns much better prepared to grow market share and revenue than those that stop investing. Marketing is an investment in your pipeline and brand. B2B Data-as-a-Service is an investment in your data quality and ability to target prospects effectively. It also reduces sales and marketing waste in efforts directed at weak prospects and departed contacts. SalesTech and MarTech purchases are investments in your revenue generation capabilities.
This is also an opportunity for your sales and marketing teams to cross-train, develop new skills, and test out new tools and processes.
When we come out of the backside of what, hopefully, is a short-term recession, you want to be better prepared to meet latent demand for your products and services. While cutting back on investment and cash burn may be necessary for survival at some companies, don’t cut back on your ability to serve the market in 2021 unless you have to do so. Let others sacrifice the future of their revenue generation operations out of short-term concerns. Bank your savings in travel expenses and event marketing, but don’t cut back in other areas unless necessary.
We are entering a terra incognita for the next three to six months, so steady, empathetic leadership should be your objective. On 9/11, our CEO pulled us into the room and talked to us. I don’t remember his words, but I remember that he was calm and understood that we were all upset and anxious. Business was the least of his concerns that day. He wanted to show a steady hand at the tiller and sent us home to be with family.
Our raison d’être is not to work, and sometimes we are jolted back into that reality. Family, friends, and health are a higher priority. COVID 19 is not the new normal, but simply a bad storm that will pass.
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.
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
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.
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
firms have a joint go-to-market strategy and revenue sharing agreement.
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 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.
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
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.
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.“
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.
Hidden Revenue Assessment includes a 30-minute walkthrough.
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.
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
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.
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.
Phil Garlick joined sales enablement vendor Brainshark as their VP of Corporate Development and Strategic Partnerships. Garlick held a similar role at Zoominfo prior to its February acquisition by DiscoverOrg. Before Zoominfo, Garlick was a founder of OneSource Information Services, a pioneer in the sales intelligence space. He guided the sales and marketing functions before ascending to President. He is joining Brainshark at a point when partnerships and integrated workflows are critical for sales and marketing teams.
“Phil’s deep experience in the sales intelligence and sales enablement markets, and his track record of success driving business growth, make him a valuable asset to our leadership team,” said Brainshark CEO Greg Flynn. “As Brainshark continues to expand its network of strategic partnerships, we’re confident that Phil’s expertise and customer-centric approach will help us continue to forge strong alliances that deliver great value to clients and improve their sales outcomes.”
Brainshark supports content authoring & management, sales training,
video coaching & practice, dashboards & analytics, and creative
Over the past half-decade, there has been a steady flow of former OneSource sales reps and management to Brainshark. Brainshark’s Chief Sales Officer, Colleen Honan, held a similar role at OneSource alongside Garlick.
“I’ve long admired Brainshark’s commitment to helping companies improve the readiness and results of their sales teams. This is a persistent challenge for organizations across industries and an area I’m passionate about. As Brainshark continues to innovate and enable sales teams to maximize their productivity, it’s an exciting time to join the company.”
Phil Garlick, Brainshark VP of Corporate Development and Strategic Partnerships
Note: Garlick was the President of OneSource Information Services while I was a Product Marketing Manager.
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.”
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.”
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.