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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
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
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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GoodCall - Getting to your first 100k MRR with Outbound Sales

  • 1. Getting to your first 100k MRR with outbound sales automation Nick Holmes a Court Founder and CEO
  • 2. SPEAKER PROFILE FOUNDED 3 VC FUNDED COMPANIES – 40 ANGEL INVESTMENTS Nick Holmes a Court @nickhac PREVIOUSLY CURRENTLY
  • 3. 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
  • 4. 1. Finding the right target market •  Brainstorm all potential target markets for your customer •  Use services like ZoomInfo / GoodCall to size these markets
  • 5. 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
  • 6. 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. `”
  • 7. 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  
  • 8. 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)
  • 9. 3. Optimising Subject Lines •  Best open rate performance we have ever seen 71% •  Industry Average 11% - Source Mailchimp
  • 10. 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)
  • 11. 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        
  • 12. 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?
  • 13. 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      
  • 14. 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
  • 15. 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
  • 16. 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.
  • 17. 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
  • 18. 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
  • 19. 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?
  • 20. 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
  • 21. 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