Wed, 19 July 2017
I am excited to bring you a fellow CEO who made his way up through the function of sales. It’s rare to find a Chief Executive Officer with sales and marketing expertise. Get ready to take notes of these rare insights from the owner of the corporate strategy who knows exactly how to leverage the sales function to achieve growth objectives. Today we are going to demonstrate how to fill the funnel with real sales opportunities.
Our new Revenue Growth Diagnostic tool gives you the ability to test your corporate strategy’s ability to hit the number, and determine if you are likely or unlikely to make your number.
Our guest today is Henry Schuck, the CEO and co-founder of DiscoverOrg, a sales and marketing intelligence platform. DiscoverOrg solves one of the biggest problems facing sales and marketing teams, and that's getting great data on the companies they're targeting. This includes the prospects at those companies, getting that flowing through their CRM and marketing automation systems and making it actionable for their reps to call on for their marketing teams to send campaigns on and to really drive the funnel.
Why this topic? Marketing is going to contribute ~30% of the pipeline, which means sales needs to generate ~70% of the sales opportunities. Pipeline per rep varies too much without a standard prospecting process used by all. Lead quality and lead-to-opportunity conversion rates suffer when prospecting is left up to each individual sales rep.
We begin the show by learning about Henry’s sales and marketing team. The marketing team at DiscoverOrg contributes 50% of the leads and 52% of the revenue, which is well above the benchmark of 40% for world class marketing organizations.
The sales team at DiscoverOrg is 100% inside sales. We discuss the organization structure and approach to drive revenue. Listen as Henry describes the prospecting process that SDRs use at his company to drive qualified leads.
“At a point last year, we brought in a sales ops person who went through the entire prospecting process and really dialed it in. The prospecting process today starts with data that flows into Salesforce, leads that come from marketing that flow into Salesforce, get distributed to the right SDRs, go inside their queues. We use FrontSpin as a dialer. We use Outreach as an outbound email system. Leads sort of flow through that process and get followed up on and then go to an account executive. Each SDR, whether inbound or outbound, is responsible to hit a certain number of demos each day, really over the month, but each day. We're tracking that every single week.”
Henry demonstrates how to fill the funnel with real sales opportunities by executing a prospecting methodology that helps sellers facilitate the investigation of their problems early in the purchasing process. Listen as Henry share his team’s recipe for success, and provides a comparison view on how his team compares to the competition in terms of sales cycle length, lead to opportunity conversion, and average pipeline per rep.
In the final segment of the show we discuss what resources the sales team needs to successfully execute the prospecting process. Henry describes how his team leverages technology to make the prospecting process easy to execute.
Finally, we conclude the show by outlining the key metrics to track to indicate success and/or failure of the prospecting process. This is a show you will want to take notes and forward to your entire leadership team.