How SalesLoft Does Sales Development - Kyle Porter
SalesLoft CEO, Kyle Porter, discusses exactly what SalesLoft does to hire, train, and succeed in the sales development arena, From culture to compensation. Transcript: So, one of the questions I get all the time is, how do you do inbound? How do you do outbound? How do you hire? How do you train? We get all these questions about sales development and uh, oftentimes on our blog, we try to showcase things that our customers are experiencing and that the industry's experiencing, but we also wake up every day and say, "If our sales development organization isn't fantastic, then we won't be representing this industry the way we want to." So, we put a lot of time and effort into making our sales development organization run smoothly. So today, I just wanted to showcase some of the things we're doing. It's not all the things, but just some of the things we're doing are unique or different that I thought, "Hey, you might want to see and pay attention to." So, the first slide I'm going to put up and show you, it's really what I consider to be some of the pillars of our sales development organization. (swallows) So what we'll do, is we'll talk about these throughout the presentation. [00:01:00] The first one here is that we glorify the role. We talked yesterday about how companies have under prioritized sales development and it's almost become like the stepchild of the sales organization. But, what we've done at Sales Loft is, we've made sure that it becomes a big priority. And so, some of the ways we do this is we run contests, we run promotions, we run things that really showcase how important they are to the company. Um, the second one on here is that you've gotta be metrics driven. This top of the funnel sales and modern selling environment is so, uh, there's so much volume and so much kind of high velocity happening, that you've gotta be able to track the numbers, and then investing in people is absolutely critical. So we want to make sure that we hire the right people, that we give them mentorship, we give them training. We give them the coaching they need, and the guidance to be successful. And then, we want to have the right process. And uh, in Ap-, in March of last year, Sales Loft raised our first institutional round of [00:02:00] financing. We raised 10 million dollars from a venture capital firm in California, and this then begun my board deck preparation, board meetings, forecasting. I guess, kind of real CEO job requirements. And so, with sales development, you can forecast sales, and you can predict the future, you you can plan for who you need to hire and how you need to hire them. So that's part of this seats pipeline. And then we want to drive efficiency. We talked a lot about how we don't want to be in an environment where we're blasting and scorching the earth of our prospect universe. We want to be efficient. So, these are the pillars. We're going to start by showing our org chart.
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How SalesLoft Does Sales Development - Kyle Porter
- 1. How SalesLoft Does Sales Development Kyle Porter, CEO & Founder
- 2. Philosophy Sales Development Tenants Glorify The Role Metrics Driven Recruit, Train, Lead Account Based + Seats Pipeline Efficiency
- 3. Team Structure Outbound SDR (4-MM) (7-SMB) SDR manager 1 Director SDR CEO VP Demand Gen Inbound SDRs (2) Team LeadSDR manager 2
- 4. Revenue Breakdown AE Sourced (12%) Outbound (49%) Inbound (39%)
- 5. Inbound Expectations Logo:SQL 15% 521I Inbound Conversions MQLS S(DR)ALs SAL Closed 3000/month 1800/month 60% conversion 900/month 50% conversion 150/month 16% conversion 40/month 28% conversion
- 6. Outbound Account Based Process Step Description Details 1 Company wide account building Data services & seats pipeline algorithm 2 Distribute evenly amongst OB reps 5-15 seats (OB) 15+ seats (MM) 3 Execute in Cadence 15% conversion (150 OB accounts) 13% conversion (75 MM accounts) 4 Convert 22 OB accounts (~112 seats) 10 MM accounts (~175 seats)
- 7. Logo:SQL 15% 21I Named Accounts Interactions Conversion SAL Closed 1500 accounts 360 accounts 250 Ops 220 Accounts 1120 Seats 300 Seats 60 accounts Outbound Expectations
- 8. Seats Pipeline April Beginning Revenue $7,500,000 Growth 10% Added Revenue $750,000 Added Revenue / Seat $1,200 Seats Needed 625 Seats Conversion 25% Seats Pipeline Needed 2500 Seats needed Rep capability Reps needed Inbound @ 39% 975 320 3 OB SMB @ 28% 700 110 6 OB MM @ 24% 600 170 4
- 9. Career Matrix SDR 1 | Ramping Rep Base: 35 K Quota: 10 Conversions Promotions: 20 SQLs SDR 1 SDR 2 | Account Based SMB Base: 37.5 K Quota: 21 Conversions Promotions: 126 SQLs SDR 2 SDR Executive | Account Based MM Base: 40 K Quota: 12 accounts Promotions: 72 SDR Exec SDR Captain | Team Lead Base: 40 K Quota: Variable Promotions: Based on leadership SDR Cap
- 10. Use sentiment and disposition Execution Lessons:
- 11. Use sentiment and disposition
- 12. Use sentiment and disposition
- 15. 0% 2% 4% 6% 8% Email Reply Rate Templatized Personalized
- 17. Meaningful discussions per 100 call openings 0% 5% 9% 14% 18% Opening 1 Opening 2 Opening 3 Other Measure call openings
- 18. Lead Pass
- 19. Go For Efficiency 20 appointments from 2,000 accounts 20 appointments from 200 accounts SDR Spencer SDR Susan
- 20. Page text or graphic Professionalized Metrics Traditional Sales Modern SDR Concept of an opportunity Concept of an account Closed won Qualified op Opportunity stages Conversion stages Sales cycle SDR conversion cycle Win rate SDR conversion rate
- 21. Thank You Kyle Porter, CEO & Founder