How to Create the Engine of Growth to get to Series A & Beyond
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Keynote by Kevin Beales, CEO at Refract, from #SaaStock17 Traction Stage, RDS, Dublin, Ireland, Tuesday 19th September 2017
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How to Create the Engine of Growth to get to Series A & Beyond
- 1. 1 The First $1m in B2B Sales How to create the engine of growth to get to Series A and Beyond
- 2. $1m ARR 2
- 3. $1m ARR 3 How many customers do you need? $20 ACV per month = 4,166 $100 ACV per month = 833 $500 ACV per month = 167 $1000 ACV per month = 83
- 6. B2B SAAS SALES CYCLE 6
- 7. B2B SAAS SALES CYCLE 7
- 8. OUTREACH - Email 8 • Well profiled prospect fit • Highly personalised • ‘Could not possibly be construed as a mass campaign’ • Stands out • Subject Line maximises open without misleading • Composition • Short • Compelling value prop • Easy (and appropriate) call to action • Think about social proof, must resonate • Tell stories • PS: Random personality filled proof of personalisation • Personalised Cadences?
- 11. Subject Line: Go, Dan Tyre, go!
- 12. Subject Line: Go, Dan Tyre, go! Hi Dan, Thanks for sharing the article "3 Oddball Sales Motivational Tactics That Work" as a newly appointed sales manager here at Refract, I wanted to give you some praise and say thanks, it's brilliant. When my team hit the target this week, I'll be washing cars as a result! As you rightly said " finding the thing that each individual will go the extra mile for. That’s powerful". I couldn't agree more.
- 13. Subject Line: Go, Dan Tyre, go! Hi Dan, Thanks for sharing the article "3 Oddball Sales Motivational Tactics That Work" as a newly appointed sales manager here at Refract, I wanted to give you some praise and say thanks, it's brilliant. When my team hit the target this week, I'll be washing cars as a result! As you rightly said " finding the thing that each individual will go the extra mile for. That’s powerful". I couldn't agree more. I wanted to get in touch and get your opinion on Refract. Rick Roberge from Unbound Growth described Refract as the ‘Hubspot for Sales Coaching’ I'd love to see what you think. We help global organizations like VMware, Oracle and SumTotal gain insights into the execution skills of their team, provide them with the ability to pinpoint weaknesses and missed opportunities, drive focused performance feedback and share moments of best practice - all without listening to a word of a call.
- 14. Subject Line: Go, Dan Tyre, go! Hi Dan, Thanks for sharing the article "3 Oddball Sales Motivational Tactics That Work" as a newly appointed sales manager here at Refract, I wanted to give you some praise and say thanks, it's brilliant. When my team hit the target this week, I'll be washing cars as a result! As you rightly said " finding the thing that each individual will go the extra mile for. That’s powerful". I couldn't agree more. I wanted to get in touch and get your opinion on Refract, Rick Roberge from Unbound Growth described Refract as the ‘Hubspot for Sales Coaching’ I'd love to see what you think. We help global organizations like VMware, Oracle and SumTotal gain insights into the execution skills of their team, provide them with the ability to pinpoint weaknesses and missed opportunities, drive focused performance feedback and share moments of best practice - all without listening to a word of a call. I'd love to share how we can help you increase rep productivity and quota attainment of the HubSpot team, do you have 10 minutes for a call on Thursday or Friday? Best, Stuart
- 15. Subject Line: Go, Dan Tyre, go! Hi Dan, Thanks for sharing the article "3 Oddball Sales Motivational Tactics That Work" as a newly appointed sales manager here at Refract, I wanted to give you some praise and say thanks, it's brilliant. When my team hit the target this week, I'll be washing cars as a result! As you rightly said " finding the thing that each individual will go the extra mile for. That’s powerful". I couldn't agree more. I wanted to get in touch and get your opinion on Refract, Rick Roberge from Unbound Growth described Refract as the ‘Hubspot for Sales Coaching’ I'd love to see what you think. We help global organizations like VMware, Oracle and SumTotal gain insights into the execution skills of their team, provide them with the ability to pinpoint weaknesses and missed opportunities, drive focused performance feedback and share moments of best practice - all without listening to a word of a call. I'd love to share how we can help you increase rep productivity and quota attainment of the HubSpot team, do you have 10 minutes for a call on Thursday or Friday? Best, Stuart PS - You owe me a breakfast sandwich!
- 16. ---------- Forwarded message ---------- From: Dan Tyre <dtyre@hubspot.com> Date: Thu, Aug 24, 2017 at 12:41 AM Subject: RE: Go, Dan Tyre, go! > YES I DO To: Stuart Taylor <stuart@refract.tv> Cc: Aja Frost <afrost@hubspot.com> Oh baby, Stewart What a great email Referenced one of my blog articles Told a story Small ask at the end – you are a #inboundsales LION Go ahead and book some time: https://app.hubspot.com/meetings/dtyre/dan-tyre-conference-call- Dan Dan Tyre Executive VP of Sales
- 17. Subject: I love chaos too
- 18. Subject: I love chaos too Hi Sheevaun, As you rightly said, "optimizing sales productivity should be one of the most important aspects for a business to focus on." And I totally agree that "the efficiency, effectiveness, and productivity of the sales force has a direct and significant impact on revenue." But it was your tweet: "Experience isn't an elevator, you have to take the stairs" that made me start typing. I wanted to introduce a couple of ideas how we can provide the escalator that helps your less experienced reps and new hires get to the top floor quicker; by having on demand access to best practice examples from top performers, all integrated with Ring Central.
- 19. Subject: I love chaos too Hi Sheevaun, As you rightly said, "optimizing sales productivity should be one of the most important aspects for a business to focus on." And I totally agree that "the efficiency, effectiveness, and productivity of the sales force has a direct and significant impact on revenue." But it was your tweet: "Experience isn't an elevator, you have to take the stairs" that made me start typing. I wanted to introduce a couple of ideas how we can provide the escalator that helps your less experienced reps and new hires get to the top floor quicker; by having on demand access to best practice examples from top performers, all integrated with Ring Central. We are working with the VP of Sales Enablement at VMware who uses Refract to gain greater insights into call/demo skills of her reps- we provide her with the ability to pinpoint weaknesses and drive focused feedback, analyzing a 60 minute call or demo in minutes, allowing managers to coach more without any greater investment in time.
- 20. Subject: I love chaos too Hi Sheevaun, As you rightly said, "optimizing sales productivity should be one of the most important aspects for a business to focus on." And I totally agree that "the efficiency, effectiveness, and productivity of the sales force has a direct and significant impact on revenue." But it was your tweet: "Experience isn't an elevator, you have to take the stairs" that made me start typing. I wanted to introduce a couple of ideas how we can provide the escalator that helps your less experienced reps and new hires get to the top floor quicker; by having on demand access to best practice examples from top performers, all integrated with Ring Central. We are working with the VP of Sales Enablement at VMware who uses Refract to gain greater insights into call/demo skills of her reps- we provide her with the ability to pinpoint weaknesses and drive focused feedback, analyzing a 60 minute call or demo in minutes, allowing managers to coach more without any greater investment in time. Given your passion for arming your organization’s sales force with access to the insights, experts, and data that will ultimately increase revenue, I believe you could get spectacular results with this tech Sheevaun. Can I give you a call on +1-650-278-5546 next Monday or Tuesday at 9am to discuss? Thanks, Mark
- 21. Subject: I love chaos too Hi Sheevaun, As you rightly said, "optimizing sales productivity should be one of the most important aspects for a business to focus on." And I totally agree that "the efficiency, effectiveness, and productivity of the sales force has a direct and significant impact on revenue." But it was your tweet: "Experience isn't an elevator, you have to take the stairs" that made me start typing. I wanted to introduce a couple of ideas how we can provide the escalator that helps your less experienced reps and new hires get to the top floor quicker; by having on demand access to best practice examples from top performers, all integrated with Ring Central. We are working with the VP of Sales Enablement at VMware who uses Refract to gain greater insights into call/demo skills of her reps- we provide her with the ability to pinpoint weaknesses and drive focused feedback, analyzing a 60 minute call or demo in minutes, allowing managers to coach more without any greater investment in time. Given your passion for arming your organization’s sales force with access to the insights, experts, and data that will ultimately increase revenue, I believe you could get spectacular results with this tech Sheevaun. Can I give you a call on +1-650-278-5546 next Monday or Tuesday at 9am to discuss? Thanks, Mark PS – I see the Warriors schedule has just been released. Hope Steph and the boys can rule again!
- 22. ---------- Forwarded message ---------- From: Sheevaun Thatcher <sheevaun.thatcher@ringcentral.com> Date: Wed, Sep 6, 2017 at 4:23 PM Subject: Re: I love chaos too To: Mark <stuart@refract.tv> Mark, I'm traveling through the end of next week however reach out the week of Sept 18. Btw, this is one of the most compelling prospecting emails I have received in years. I teach BDRs how to personalize emails and I've forwarded this one as an excellent example of how to accomplish this. Well done Mark.
- 23. OUTREACH - Email 23 • Well profiled prospect fit • Highly personalised • ‘Could not possibly be construed as a mass campaign’ • Stands out • Subject Line maximises open without misleading • Composition • Short • Compelling value prop • Easy (and appropriate) call to action • Think about social proof, must resonate • Tell stories • PS: Random personality filled proof of personalisation • Personalised Cadences?
- 24. OUTREACH – Blended Approach 24
- 25. DISCOVERY – Who Is Qualifying Who? 25
- 26. DISCOVERY – Go Deep 26
- 27. DISCOVERY – Go Deep 27
- 29. DISCOVERY – Stakeholders 29 “Who else care about…..”
- 30. DISCOVERY – Move The Needle… 30
- 31. DISCOVERY – Collecting Your Nuts For Winter 31
- 32. DEMO – Not A Harbor Tour! 32
- 33. DEMO – Start With The best bits 33
- 35. DEMO – Move The Needle 35
- 36. Kevin Beales kevin@refract.tv +44 7469 172 172 1
Editor's Notes
- $1m ARR Unlocks the keys to the kingdom $80k MRR 80k/ACV = number of clients Target clients per month = Time to $1m Easy, right – Predictable Revenue (SaaS Sales is an executable playbook right) Outreach Playbook Demo and Closing Playbook Scale Live happily ever after Journey for the 3rd time, 1 as VP of Sales and 2 x Founder Each journey is very unique – so many variables and nuances – product, category, target market, decision makers, pricing, funding, competitors, sales cycles, trials/pilots/freemium, av order value, added value services, exposure to legals, procurement What works isn’t the same – Personalized implementation of a framework Variable Predictable Revenue or A million shades of grey may not have sold as many books
- Prospect fit - Stands out – 100’s of emails Use shitty generic emails to your advantage to get stand out unusual words, personality, conversation Cadences – ‘Doesn’t it take 8 points of contact to create an opportunity’. Trap is unpersonalised cadences but not time/ROI to right entire personalised cadences. Yesware/Boomerang copies the original too. 15-20 a day 2 discovery calls a day/10 a week
- Prospect fit - Stands out – 100’s of emails Use shitty generic emails to your advantage to get stand out unusual words, personality, conversation Cadences – ‘Doesn’t it take 8 points of contact to create an opportunity’. Trap is unpersonalised cadences but not time/ROI to right entire personalised cadences. Yesware/Boomerang copies the original too. 15-20 a day 2 discovery calls a day/10 a week
- Subject Line - His motivational line he uses with reps Personalisation – connection Reason for a fit? The ask The PS:
- Subject Line - His motivational line he uses with reps Personalisation – connection Reason for a fit? The ask The PS:
- Subject Line - His motivational line he uses with reps Personalisation – connection Reason for a fit? The ask The PS:
- Subject Line - His motivational line he uses with reps Personalisation – connection Reason for a fit? The ask The PS:
- Subject Line - His motivational line he uses with reps Personalisation – connection Reason for a fit? The ask The PS:
- Cold calling is not dead Same principles of personalisation Demonstrate excitement at fit Before 9 and after 5 Direct Dials Use VM as a free advert All supported with social activity to create familiarisation Direct dials – US, Zoom Info, change the last digit 8 attempts before a response (check no) ROI Higher 20% of effort – 40% of results Better discovery (or straight to demo)
- Prospect fit - Stands out – 100’s of emails Use shitty generic emails to your advantage to get stand out unusual words, personality, conversation Cadences – ‘Doesn’t it take 8 points of contact to create an opportunity’. Trap is unpersonalised cadences but not time/ROI to right entire personalised cadences. Yesware/Boomerang copies the original too. 15-20 a day 2 discovery calls a day/10 a week
- Cold calling is not dead Same principles of personalisation Demonstrate excitement at fit Before 9 and after 5 Direct Dials Use VM as a free advert All supported with social activity to create familiarisation Direct dials – US, Zoom Info, change the last digit 8 attempts before a response (check no) ROI Higher 20% of effort – 40% of results Better discovery (or straight to demo)
- Qualification can seem like an inquisition – asking questions you could find out, no value to prospect, nothing to engage or excite prospect. Don’t make the prospect defensive Go deep - Create sufficient and quantifiable pain/value for future parts cycle (stakeholders/negotiation) – these are your acorns for the winter (or triggers for demo) ‘you mentioned that x was an issue, what’s that stop you achieving’ Pre-empting objections Give Examples Pick questions – dial must move proprtionately to time 15 mins discover, 5 mins of being late/pleasantries Each question could be easy 2 mins+, will this move the dial 20%+ Deals are sunk with discovery mistakes – even if your prospect is mega excited Story ‘This is the best thing I have ever seen’ – over enthusiasm, happy ears 6.8 people involved in a B2B sale on average ‘Who else cares about …..<this problem/tangible benefit>?’ Who is the REAL decision maker?
- Qualification can seem like an inquisition – asking questions you could find out, no value to prospect, nothing to engage or excite prospect. Don’t make the prospect defensive Go deep - Create sufficient and quantifiable pain/value for future parts cycle (stakeholders/negotiation) – these are your acorns for the winter (or triggers for demo) ‘you mentioned that x was an issue, what’s that stop you achieving’ Pre-empting objections Give Examples Pick questions – dial must move proprtionately to time 15 mins discover, 5 mins of being late/pleasantries Each question could be easy 2 mins+, will this move the dial 20%+ Deals are sunk with discovery mistakes – even if your prospect is mega excited Story ‘This is the best thing I have ever seen’ – over enthusiasm, happy ears 6.8 people involved in a B2B sale on average ‘Who else cares about …..<this problem/tangible benefit>?’ Who is the REAL decision maker?
- Qualification can seem like an inquisition – asking questions you could find out, no value to prospect, nothing to engage or excite prospect. Don’t make the prospect defensive Go deep - Create sufficient and quantifiable pain/value for future parts cycle (stakeholders/negotiation) – these are your acorns for the winter (or triggers for demo) ‘you mentioned that x was an issue, what’s that stop you achieving’ Pre-empting objections Give Examples Pick questions – dial must move proprtionately to time 15 mins discover, 5 mins of being late/pleasantries Each question could be easy 2 mins+, will this move the dial 20%+ Deals are sunk with discovery mistakes – even if your prospect is mega excited Story ‘This is the best thing I have ever seen’ – over enthusiasm, happy ears 6.8 people involved in a B2B sale on average ‘Who else cares about …..<this problem/tangible benefit>?’ Who is the REAL decision maker?
- Qualification can seem like an inquisition – asking questions you could find out, no value to prospect, nothing to engage or excite prospect. Don’t make the prospect defensive Go deep - Create sufficient and quantifiable pain/value for future parts cycle (stakeholders/negotiation) – these are your acorns for the winter (or triggers for demo) ‘you mentioned that x was an issue, what’s that stop you achieving’ Pre-empting objections Give Examples Pick questions – dial must move proprtionately to time 15 mins discover, 5 mins of being late/pleasantries Each question could be easy 2 mins+, will this move the dial 20%+ Deals are sunk with discovery mistakes – even if your prospect is mega excited Story ‘This is the best thing I have ever seen’ – over enthusiasm, happy ears 6.8 people involved in a B2B sale on average ‘Who else cares about …..<this problem/tangible benefit>?’ Who is the REAL decision maker?
- Qualification can seem like an inquisition – asking questions you could find out, no value to prospect, nothing to engage or excite prospect. Don’t make the prospect defensive Go deep - Create sufficient and quantifiable pain/value for future parts cycle (stakeholders/negotiation) – these are your acorns for the winter (or triggers for demo) ‘you mentioned that x was an issue, what’s that stop you achieving’ Pre-empting objections Give Examples Pick questions – dial must move proprtionately to time 15 mins discover, 5 mins of being late/pleasantries Each question could be easy 2 mins+, will this move the dial 20%+ Deals are sunk with discovery mistakes – even if your prospect is mega excited Story ‘This is the best thing I have ever seen’ – over enthusiasm, happy ears 6.8 people involved in a B2B sale on average ‘Who else cares about …..<this problem/tangible benefit>?’ Who is the REAL decision maker?
- Qualification can seem like an inquisition – asking questions you could find out, no value to prospect, nothing to engage or excite prospect. Don’t make the prospect defensive Go deep - Create sufficient and quantifiable pain/value for future parts cycle (stakeholders/negotiation) – these are your acorns for the winter (or triggers for demo) ‘you mentioned that x was an issue, what’s that stop you achieving’ Pre-empting objections Give Examples Pick questions – dial must move proprtionately to time 15 mins discover, 5 mins of being late/pleasantries Each question could be easy 2 mins+, will this move the dial 20%+ Deals are sunk with discovery mistakes – even if your prospect is mega excited Story ‘This is the best thing I have ever seen’ – over enthusiasm, happy ears 6.8 people involved in a B2B sale on average ‘Who else cares about …..<this problem/tangible benefit>?’ Who is the REAL decision maker?
- Qualification can seem like an inquisition – asking questions you could find out, no value to prospect, nothing to engage or excite prospect. Don’t make the prospect defensive Go deep - Create sufficient and quantifiable pain/value for future parts cycle (stakeholders/negotiation) – these are your acorns for the winter (or triggers for demo) ‘you mentioned that x was an issue, what’s that stop you achieving’ Pre-empting objections Give Examples Pick questions – dial must move proprtionately to time 15 mins discover, 5 mins of being late/pleasantries Each question could be easy 2 mins+, will this move the dial 20%+ Deals are sunk with discovery mistakes – even if your prospect is mega excited Story ‘This is the best thing I have ever seen’ – over enthusiasm, happy ears 6.8 people involved in a B2B sale on average ‘Who else cares about …..<this problem/tangible benefit>?’ Who is the REAL decision maker?
- Start with the money shot - don’t ‘save the best till last’ Distratcted/loss of engagement or excitement, exhausted Time runs out for one or more ‘Peter Cohen’s quote’ Not a feature dump Not a ‘harbour tour’ a trip to Ikea – 30 mins and you can’t get off ‘I don’t think this feature is very useful for you guys but just to show you….’ What – where the needle moving? Personalised, relate to discovery value/pain Not an all you can eat buffet Goal – not a linear presentation Personalised – value/pain, interest, role, objectives, time, stakeholders
- Start with the money shot - don’t ‘save the best till last’ Distratcted/loss of engagement or excitement, exhausted Time runs out for one or more ‘Peter Cohen’s quote’ Not a feature dump Not a ‘harbour tour’ a trip to Ikea – 30 mins and you can’t get off ‘I don’t think this feature is very useful for you guys but just to show you….’ What – where the needle moving? Personalised, relate to discovery value/pain Not an all you can eat buffet Goal – not a linear presentation Personalised – value/pain, interest, role, objectives, time, stakeholders
- Start with the money shot - don’t ‘save the best till last’ Distratcted/loss of engagement or excitement, exhausted Time runs out for one or more ‘Peter Cohen’s quote’ Not a feature dump Not a ‘harbour tour’ a trip to Ikea – 30 mins and you can’t get off ‘I don’t think this feature is very useful for you guys but just to show you….’ What – where the needle moving? Personalised, relate to discovery value/pain Not an all you can eat buffet Goal – not a linear presentation Personalised – value/pain, interest, role, objectives, time, stakeholders
- Start with the money shot - don’t ‘save the best till last’ Distratcted/loss of engagement or excitement, exhausted Time runs out for one or more ‘Peter Cohen’s quote’ Not a feature dump Not a ‘harbour tour’ a trip to Ikea – 30 mins and you can’t get off ‘I don’t think this feature is very useful for you guys but just to show you….’ What – where the needle moving? Personalised, relate to discovery value/pain Not an all you can eat buffet Goal – not a linear presentation Personalised – value/pain, interest, role, objectives, time, stakeholders