goodcall - getting to your first 100k mrr with outbound sales
Post on 18-Jul-2015
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Getting to your first 100k MRR with outbound sales automation
Nick Holmes a Court
Founder and CEO
SPEAKER PROFILE FOUNDED 3 VC FUNDED COMPANIES – 40 ANGEL INVESTMENTS
v
Nick Holmes a Court @nickhac
PREVIOUSLY
CURRENTLY
AGENDA
1. Finding the right target market
2. Testing for your ideal target customer
3. Optimising the right sales messaging
4. Automating outbound sales process
5. Hiring and onboarding sales reps
6. Measuring the process for repeatable growth
GETTING TO YOUR FIRST 100K MRR WITH OUTBOUND SALES AUTOMATION
1. Finding the right target market • Brainstorm all potential target markets for your customer
• Use services like ZoomInfo / GoodCall to size these markets
2. Testing for your ideal customer • Need to find their pain points / our value props
• Should you discuss your benefits or features?
Example 1: “As a marketing
manager, you may be struggling
to generate the leads your sales
team needs, our sales automation
software can 3x the performance
of your existing lists
2. Testing for your ideal customer • Need to find their pain points / our value props
• Should you discuss your benefits or features?
Example 2: “It may be time
consuming for you to produce high
quality reports for your VP Sales
manager each month, our report
wizard will give you deep dive
insights PDF with 1 click. `”
2. Testing for your ideal customer • Result: A clear understand of which customers should want to
purchase your product and why
Market Value Prop Feature / Benefit
Marke(ng Manager
Increase # Sales Leads Generated with less work
Email sales automa(on that drips emails out without sales effort
Marke(ng Manager
Improve insights from monthly reports for my manager 1 Click PDF Report Generator
Marke(ng Manager
Automate the manual process of list purchasing
Integrated database of 100M+ contacts
VP Sales Increase revenue per month with same headcount
Email sales automa(on that drips emails out without human effort
VP Sales BeLer visibility into best performing market segment
Sales performance analy(cs reports
VP Sales Save costs and eliminate need to hire SDRs which is (me consiming
Outsource your SDR to a sales automa(on plaNorm
3. Optimising the right sales messaging Combining our Markets / Value Props and Contact Lists, we are
now ready to start testing sales messaging
• A/B Testing using email platform of choice
• MailChimp, GoodCall, Outreach.io
Email Performance
• Expect 10-30% open rates
• Expect 1-5% reply rates on your first email
• Follow up automation is key to better results (more later)
3. Optimising Subject Lines • Best open rate performance we have ever seen 71%
• Industry Average 11% - Source Mailchimp
3. Optimising the right sales messaging Our performance tips for email delivery
• Always send sales emails not marketing emails
• People buy from people.
• Wednesday / Thursdays are regarding as the best days
• 8am or 3pm delivery time
• Follow up’s matter more than timing (more later)
3. Anatomy of a sales email Short and sweet, use your content from value prop / feature work
Hi Jim Saw you are the Marke(ng Manager over there at ACME. Many marke(ng managers find it (me consuming to produce month end reports for their VP sales. At NewCo, our 1 Click Marke(ng Report PDF generator may be able to save you hours. What day next week could we have a 15 minute call to review? Jim Halpert NewCo Inc 25 Taylor St, San Francisco 415-‐691-‐0706
3. Types of email asks Depending on how clear your buyer is, here are some asks
• When do you have 15 mins to talk?
• What day next week is best to chat?
• Who is the best person to speak with about this?
3. The bubble up email The average rep gives up after 2 follow-ups.
• Our research shows it often takes 7-12 attempts
Hi Jim Realize you are busy, so just bubbling this up to the top of your inbox. As men(oned, our 1 click marke(ng report PDF generator, may save you hour on your month end repor(ng and look like a rockstar to your boss. What day next week could we have a 15 minute call to review? Jim 415-‐691-‐0706
4. Automating outbound sales process If you want to scale quickly to 100k MRR, you need to automate
• Unfortunately sales is a numbers game
• But it can also be a science
• The power of polite persistence in email sales
4. How to Automate outbound sales For top of funnel sales email automation
• GoodCall.io, Outreach.io
For Cold Calling Automation
• ConnectAndSell.com – 8 Live Phone calls per Hour
For mid-funnel automation
• InsideSales.com, Close.io
For bottom of funnel automation
• Black magic
The power of polite persistence in email sales
5. Hiring and onboarding sales reps • What to look for on the resume?
• At least 2-3 years in a single sales role.
• Lots of 9 month roles a big red flag
• Interview questions?
• What makes a great company?
• How would you design a sales process from scratch?
• What is the role of marketing in helping sales?
• Why do you want to work here?
• Great sales reps always seem to ask about commission.
5. Hiring and onboarding sales reps • Always hire sales reps in pairs
• Naturally competitive
• Assume a 3 month ramp up period
• Week 1: Product training / shadowing founder or other reps
• Month 1: Booking their own meetings
• Month 2: 10 meetings per week
• Month 3: Closing their first deals
• Sales Quota
• Individual sales reps should be able to add $8k MRR Monthly
5. Managing Reps • Weekly Activity Leaderboard the whole company can see
• Meetings
• Quotes Out
• Revenue
• Top X next deals to be closed
• Commissions
• Keep it simple, make it really attractive
• EG: 20% for the first 12 months of the customers contract
6. Getting to the 100k MRR Goal Funnel Economics
Stage Conversion Rate Number
Contacts 1000
Leads 10% 100
OpportuniAes 40% 40
Customers 50% 20
How many customers do you need for 100K MRR and work back.
Is your market big enough?
6. Building a sales team to 100k MRR By combining Sales Automation and Sales Rep Hires, you can get
to 100k MRR in under 12 months
Month-‐1 Month-‐2 Month-‐3 Month-‐4 Month-‐5 Month-‐6 Month-‐7 Month-‐8 Month-‐9 Month-‐10 Month-‐11 Month-‐12
Sales Reps 2 2 2 4 4 4 6 6 6 8 8 8
New Deals /Mo (2 /Rep) 0 0 4 4 8 8 8 12 12 12 16 16
Total Customers 0 0 4 8 16 24 32 44 56 68 84 100
New MRR Per Customer $1,000 $1,000 $1,000 $1,000 $1,200 $1,200 $1,200 $1,400 $1,400 $1,400 $1,600 $1,600
MRR $0 $0 $4k $8k $19k $28k $38k $61k $78k $95k $134k $160k
The fine print:
• Assumes $1k Revenue Per Customer Per Month, growing 20% Quarter on Quarter
• Assuming 0 churn, or 12 month contracts
• Assumes new reps take 3 months to get to quota
• Assumes reps have enough lead / opportunities from sales automation to close deals
KEY TAKEAWAYS
1. Find a big market
2. Test for your customers key pain
3. Use messaging that is proven to convert
4. Automate as much sales activity as possible
5. Have a process for quickly getting reps to quota
6. Scale up your sales process to get to $100k MRR
GETTING TO YOUR FIRST 100K MRR WITH OUTBOUND SALES AUTOMATION
THANK YOU!
#startupsocials
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