Enhance your b2b sales funnel metrics for hightech
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B2b Sales Funnel Metrics for Hightech
B2b Sales Funnel Metrics for Hightech How-To Guide
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How do you measure B2B sales?
10 Essential B2B Sales Metrics To Gauge Your Performance Sales Pipeline Velocity. ... Win Rate. ... Average Deal Size. ... Customer Acquisition Rate. ... Customer Churn Rate. ... Customer Acquisition Cost. ... Marketing Qualified Lead. ... Sales Qualified Opportunity Rate.
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Do sales funnels work for B2B?
For B2B businesses, sales funnels are essential as they provide structure, enhance lead nurturing, and increase a company's efficiency at converting prospects into clients. The funnel aligns marketing and sales efforts, ensuring there's an organization-wide, focused approach to turning leads into loyal customers.
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Do funnels work for B2B?
The best part about a marketing sales funnel is that you can measure your marketing team's performance through B2B marketing metrics. This way, you can easily evaluate what's working and what isn't and adapt your strategy to get buyers moving down the funnel and increase conversion rates. How to Build a B2B Marketing Funnel: Steps & Tips for 2024 Cognism https://.cognism.com › blog › how-to-build-better-b... Cognism https://.cognism.com › blog › how-to-build-better-b...
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What is a good B2B funnel conversion rate?
What are average B2B funnel conversion rates? Data from FirstPageSage and Gartner provide rough benchmarks for average B2B funnel conversion rates: Lead to MQL: 25% to 35% MQL to SQL: 13% to 26% Sales Funnel Conversion Rates: 5 Metrics to Know - Mosaic Tech Mosaic Tech https://.mosaic.tech › financial-metrics › sales-funne... Mosaic Tech https://.mosaic.tech › financial-metrics › sales-funne...
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What is the B2B sales funnel strategy?
A B2B sales funnel represents the journey potential clients take through various stages before becoming customers. Unlike B2C scenarios, B2B sales funnels are characterized by more complex and lengthy decision-making processes. The funnel is segmented into stages, each representing a key phase in the buyer's journey. What Is A B2B Sales Funnel - Steps, Tips, And Implementation Guide WPFunnels https://getwpfunnels.com › b2b-sales-funnel WPFunnels https://getwpfunnels.com › b2b-sales-funnel
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What is a good B2B funnel conversion rate?
What are average B2B funnel conversion rates? Data from FirstPageSage and Gartner provide rough benchmarks for average B2B funnel conversion rates: Lead to MQL: 25% to 35% MQL to SQL: 13% to 26%
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What is a full funnel strategy in B2B?
Top benefits of full-funnel marketing The main reason B2B businesses opt for a full-funnel approach is that it makes them stand out against competitors. It provides the target audience value from the first interaction and continues to nurture them towards a sale by continuing to be incredibly helpful. Full-funnel marketing: What is it and how does it drive B2B demand ... Roo & Eve https://.rooandeve.com › blog › full-funnel-marketi... Roo & Eve https://.rooandeve.com › blog › full-funnel-marketi...
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What is B2B sales funnel analysis?
It walks you through the sequence of steps an ideal prospect takes to become a customer. A sales funnel for B2B has five primary stages: awareness, interest, evaluation, engagement, and action.
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hello and welcome to today's webcast hosted by the sales management association our session will start in just a few moments first a quick reminder that our webcast today will be recorded we'll be making it available for playback and the sales management associations resource library our members will also find copies of today's slides available for download there our session today is one in a series of web-based sales management association presentations that feature practitioners and thought leaders in the field of Salesforce effectiveness the sales management association is a professional association we serve professions of sales operations sales enablement sales effectiveness and sales leadership if you're joining us for the first time we hope that you will consider joining the Association and also encourage you to visit us online you'll find us at sales management org additionally we encourage you to join us for our first ever online conference that's May 6th we're producing this event very quickly to meet our members many urgent needs around issues such as planning performance management coaching and development sales enablement technology and many other issues related to adapting to the current crisis our keynote speakers will include retired General Stanley McChrystal former joint special ops command under President Obama who will speak about leadership under in crisis additionally we made the first 2,000 registrations absolutely free they're going quickly if you've not already registered we encourage you to do so reserve your reservation at sales management conference calm my name is Bob Kelly I'm sales Management Association chairman today I've got the pleasure of moderating a great panel on a very important topic so I'm going to be introducing our panelists now they Brian Ellis sir from air call Francois Grenier from typeform Mike Khalid Eno from pandadoc and karthik raja ram from fret works Brian else else else uh sir is senior director of sales development at air call a marketer of advanced phone solutions that are easy to set up use and scale he's a frequent speaker and author on sales development and is a New York volunteer firefighter and a professional opera singer right we don't normally call outside hustles but in your case both are of such note that we wanted to make sure we included them welcoming thank you thank you appreciate it happy be multiband a our next panelist is francois grandiere who has been coaching me on pronouncing his last name and is a skeptical that i'll get it right before the end of our session today but we're pleased to have him he's head of technology partnerships at type form a software-as-a-service company specializing in online form building and online surveys francois previously held senior positions in business development and partnerships at watch out wand era over third technologies in nokia welcome Francois hi thanks for having me and you're pronouncing my name perfectly as far as I'm concerned okay that's a good good mic Khalid you know his head of sales at pandadoc and which is an all-in-one document automation solution Mike started his career there at pandadoc in sales as an account executive and worked previously in sales at v-- and turbo and US pavement services very happy to have you with us welcome Mike thank you happy to be here and unable to join us live video is karthik raja rom he is senior director and country head for India Business at fresh works a sales management association underwriter and maker of a suite of software solutions including French sales CRM and their products are used by more than 150,000 firms around the world before joining fresh works Karthik held sales leadership positions at Akamai Technologies Salesforce and Microsoft we're very pleased to have you with us Kartik welcome thanks Bob Kyle thanks for having me glad to be here excellent well gentlemen um let's uh let's get started our our topic is rethinking the business-to-business sales funnel you've been so kind to dedicate some time over the past few weeks to discussing these issues and so I'm going to try to organize our thoughts in a structure similar to that that we've been discussing for the past few weeks and I'd like to start if I may with just having you give us a few observations about both your firm and also kind of what you're seeing in the current environment of late Brian else else else uh sir can we start with you yeah absolutely so I think it's uh you know given everything that's happening right now you know we're directly in the middle of the co bid piece we're directly in the middle of people reorganizing themselves we've seen a lot happen right we've seen businesses that are going out we've seen businesses that are maintaining but maybe reducing spend what we've had to do is make sure that as a company we're structuring ourselves to not only have success for ourselves but have success for our customers we're air calls a very customer focused and first company and so as we think about the actions that we're taking we're trying to think about the way in which our customers are responding to this crisis so that we can meet them there what we found is that we're seeing a lot of new new I guess you would say verticals that we normally wouldn't necessarily be selling into come inbound and asking for help we've been seeing that happen in like the education and government sector for sure there's been a lot of that we've also been seeing the way in which we've approached our customers have to have to adjust its even on outbound sales side what just really where a lot of my of the majority of my time sits we think about now this idea of true one-to-one communication and really thinking about putting ourselves in the shoes of our customers to help solve the the potential issues that they're having more so than we've ever done before and I think the big shift for us has been in really reframing our strategies and our focuses in this regard even on our customer side you know we we've seen us having to be lenient and and helpful and supportive to cause to customers that are going through some difficult times to help them meet the demands that their businesses need in order to survive and at the same time make sure that we're not taxing them so we it's a it's a full-court press if you will on on strategy and thinking about new ways in which we can help our customers thank you there's a lot there to unpack we'll do our best to get to some of the details around those issues as we go through the session today Francois your thoughts it's a very interesting question I think one of the good things for from being at a forum is that our vision is that every interaction counts in any time and all values are around empathy and together nests and so right now it's actually even more relevant to own those values and really make sure that we transfer them with every interactions we have with our customers some of them are struggling some of them are new and completely new to that forum because they were brought to us by these new context and you need to run their own businesses so it's really important for us to actually continue having out a helping hand and really trying to understand how we can better help them so new type of customers are world new type of personas new types of jobs to be done and use cases that are flowing through our dimension because of this particular context so we also have to readapt I think internally the most important thing that I see right now is that everybody is trying to get closer to our customers the product team is doing some work to make things easier for those new new customers that would have never come to us before our customer success team is really dedicated to making sure that our existing customers and new customers are as successful as possible and our sales team is really trying to make sure that they're spending the time with their customers that need it the most that's great Thank You Francois Mike Palladino yeah you know some great some great topics already brought up from both Brian and Francois you know to that that really seemed relevant to to pandadoc and and the market as a whole customer centricity from brian and and empathy from from Francois these are two things that are certainly ramping up in a major way during the crisis and I think thirdly is sort of a general pragmatism that that businesses need to sort of adopt right now so when I think about those those three things it's changing at every stage and for every individual and the business of for every buyer so it's really about being empathetic to both your employees and your your customers or prospects trying to be pragmatic and and smart about any decision that we're going to make in this uncertain time and obviously paying attention to what's happening to our customer base and trying to do what we can from an empathetic lens to try to move forward in a mutually beneficial situation so so really everything through an empathetic or pragmatic lens we're viewing things that way at pandadoc and and it really is is consistent across the board based on role so those are the two things that I think have really seen an uptick in attitude over the last you know six to eight weeks as we've adjusted to remote work and we'll put thank you Mike cardigan your general thoughts you we may have lost you Karthik are you able to you hear us you guys hey guys can you hear me yes we can we could Karthik we will come back to you and give you an opportunity to respond but thank you gentlemen for kind of setting the stage for us and what I'd like to do now is maybe consider the the sales funnel and try to kind of look at it from top to bottom Karthik are you with us yeah I'm sorry I just got lost VP sorry okay dude great we're going to move on we'll come to you first for the next question though so if we consider the top of the funnel including the impact on of this pandemic crisis on demand itself can we talk a little bit more about sort of what you're seeing with demand generally but also some specific changes related to the kinds of things coming into the funnel now that that are worthy of note and Karthik we're happy to come to you first on this question absolutely thanks Bob I think like for all of us it's been a very even full past couple of months we've had to rethink a lot of things right from a scenes and marketing strategies at office and who's specifically your question right we've had to kind of relook and redefine our icpsr idol customer profiles we're seeing some newer verticals and newer industries showing a lot of interest and cutting through inbound we're seeing a lot of structure in education we see a lot of traction from some state and central governments and I think it's been a very interesting phase where we looking to obviously there has been a bit of a slowdown and demand from our traditional ICTs and which is made us rethink our marketing strategies expediting working on a new playbook to ensure that we're able to cater and service effectively the new verticals and industries that come to us for support right so I think we are looking at collaborating very closely with the marketing teams the customer marketing team second marketing teams and fresh works to build out the right kind of PlayBook strike and messaging in positioning to ensure that we are in a position to cater to their requirements and and us good thank you Karthik other thoughts Brian can we go to units well so I think in the when I think about our sales funnel currently something that I think that we have to keep in mind is that there are there are people that have an immediate need at least in air and air calls perspective there are people that have an immediate need to get set up in a very robust you know remote environment which is something the air call meets the need of we happen to be fortunate enough to be in a position of of you know help and and and be able to help these customers that need this kind of service and the environment that we're in so I mean it's uh you know it puts us in an interesting position but what we do see though on our outbound sales side very differently from our inbound sales side is that many of our our customers that maybe didn't necessarily have the hand raised to say help me we're finding that you know the conversations are just to take a little bit longer I think when I speak to my peers as well and in the space and we talk a little bit about the sales funnel or what to expect right now everyone's talking about there seems to be a lot of panic around q2 what's gonna happen what's gonna happen the uncertainty you hear the word uncertainty almost ad nauseam and I think what I've been focused on is like well good skip beyond q2 what's to q3 what's q4 like we're gonna have some element of normalcy at some point and it we it's really a matter of the work that we're doing now to make sure we're preparing ourselves to be able to meet those demands later as much as we're able to meet the end on demands of today so I think that's kind of how we're we're envisioning it it's kind of a two-fold piece yeah that's really a great concept I know a lot of companies and many of your customers they're lunging at solutions now to fix this you know sudden problem that they're dealing with but there's also an opportunity to fix what comes next you know we like to call this the next normal it's so it's not just about adapting it's about thinking ahead it's a very unusual opportunity and a friend so I'm very keen to hear your thoughts about this yeah the next wave is actually as super relevant too big for us because we see new customers coming in and I think if we go back to the initial question about top of the funnel that really is what clicks the most with us people coming in with new use cases or the typical profiles that were not necessarily a big part of our customer base is now coming in bigger crowds to us because we're basically helping them a good example is small mom-and-pop shops brick-and-mortar that never really had an online approach to their own business because they had to close the doors they still want to continue operating and generating at least a sustainable revenue to continue operating and to make sure that the store can stay open whenever the situation settles and so they're exploring where the online business and and so they're coming to us asking for help and those are people that don't necessarily have experiencing online marketing and things like that so we see not only a different kind of persona coming to us but also a persona that requires a little bit more hand-holding and support from us so the proportion of higher touch customers is definitely growing for us and that allows us surprisingly enough even though it's more time consuming to really get our heads around what they need and how we can help them it also helps us better understand what the customers that we had before that never necessarily talked to us because tie form is essentially a self-serve model actually needed and we're expecting from the tool and we're trying to work around the limitations of the tool and so on so we also able to make it a better product on the long run it's gonna take a while but where we're seeing big benefits in that space so better serving our customers again I'm going back to that it really is what what's crisis right now and good Mike anything to add yeah I mean it's a pile on top of karthik with you know seeing some new ICPs we're certainly experiencing some some new types of logos at the top of the funnel and to to mention some of Brian's points about you know folks really looking for a robust solution out the gates it's seeming that that people are much more decisive earlier stages and so by leaning into that we found you know with an empathetic gear you know actually leaning into is this something that you guys need immediately it sounds like it is we just really want to confirm that we're seeing we're seeing much faster stage progression on those types of opportunities and sobriety point on stuff that's maybe earlier in the funnel maybe in an awareness phase from an outbound standpoint it's taking a little bit more time to get them to feel that pain specifically so adjusting to those things a little bit and trying to take that pragmatic approach and follow the dollars they capitalize off them yeah let me try to summarize some of the things that we talked about in this question namely what's happening in the top of the funnel that's different and worthy of note so I think everyone talked about new types of customers coming in to the pipeline these are verticals you may not have served before so Karthik mentioned government which is a very specialized kind of customer to serve they're popping up in the funnel all of a sudden and not only are they new to you they may be behaving differently than they've behaved in the past so that's very unusual and require some some adaptation many new new opportunities are new to your solutions so they they have this kind of bipolar issue which is they may need it urgently but they also need a lot more higher touch than they've then new customers typically demand so that could has the Opera you know potential to really twist the sales effort required for that and so and then other other opportunities that may have been sort of standard core opportunities at the top of the funnel maybe taking longer now so these anyway these are the things I took away I want to talk now about the sort of middle of the funnel those kind of core opportunities that you typically always served Mike I want to stay with you on this question if I may and have you comment just on you know what's happening with the kind of bread and butter customer you used to serve are they behaving differently yeah it's a great question so fortunately for pandadoc our application and our bread and butter are ICP application is really for sales teams and sales leaders so as folks are moving more to a remote workforce across the board regardless of just whether you have a large workforce or sales workforce we're seeing you know consistent performance from our typically you know solid ICP stuff but it really depends on when the opportunity came to us so we saw a very strange performance in any opportunity that was created Priya kovat or really like pre shelter-in-place let's just say and and those opportunities performed wildly differently than things were previously so we definitely felt some stuff on pipeline that was created pre coded but like I was saying before you know due to the fact that our ICP isn't really impacted in a negative light unless the businesses are suffering we're fortunate enough to see post kovat very similar performance from our ICP cohorts and actually even even increases from other other logos that we didn't service in the past similar like to conflict with with government and in higher education so it's it seems that that the mid funnel is performing the same way from a conversion standpoint but the one negative aspect is is our average sales prices are definitely unpredictable now mostly due to the fact that no one really wants to make big budget decisions right now with all of the uncertainty happening externally so some stuff at the at the very bottom of the funnel which I'm sure we'll get to in a moment but some of that is performing from a different standpoint when we're looking at our average sales prices so that's that's the biggest impact I've noticed at least in our funnel good thank you Brian yeah I think it's as expected what I mean by that is like you have you have a lot of businesses that are really directly being affected by the crisis more so than others and an air call being the type of service that we are where we're a phone system for pretty much anybody that needs a phones especially if you have a customer care department or a sales department like week we we were there for that so if you could imagine the travel industry right vacations rentals like these are these are things that are going down in terms of usage currently just given how we're all sheltering in place and so you could imagine that the decline in business for those businesses you know it results in a reduction of need from from our service and we see that and but at the same time like to mention as we said earlier at the top of the funnel we still see those new verticals coming in from the education and government sector I think from our middle of the funnel our core bread-and-butter a lot of our core bread-and-butter is still engaged EECOM is been doing very well and in this market and so they still and probably they're probably servicing more customers and they've ever have and so therefore they need more of what we're doing then they probably ever needed before business services real estate I mean so that some lot of the the verticals that we would traditionally sell into we're seeing I think the behavior change is very on par as to what Mike just had had mentioned is that where we expect to see we expect to see certain people make decisions buying decisions in a more conservative manner in the current market but I think we also expect those same businesses to ramp up business after the successful you know completion of completion but you know end to this whole covert outbreak right whatever that may hold in store for us and many scenarios being floated out there including my favorite the scenario of a bloody recovery one that comes so fast and is so strong that it overwhelms our ability to respond perhaps the best possible outcome but still incredibly challenging so again thinking ahead these issues may not in fact get easier even in recovery which it can we hear from you on this sure I think we are absolutely seeing what Brian and Mike articulated and one of the things that that we are also seeing is there is a fundamental shift in the kind of conversations will be having customers right in fact very early in a single cycle they want us to clearly quantify the impact of our offerings and business metrics be paid incremental productivity your cost savings or any improvements or customers are because they want to be very careful and expect in where they wanna invest and where they want to spend their money in fact I was having a conversation last week with the head of customer experience of largest profits and he wanted us to do a very extensive comprehensive ROI study on what our offering could do for them right and so we built it out so in a way it is helping us kind of go back and some of the things that we always talked about about having clearly articulating business value quantifying business value now if it's become an imperative we are actually sitting with marketing be sitting with our experts to build some of those things out thank you Karthik and Francois your thoughts on the existing customer base prompts it's interesting because when you look at the global picture it's hard to really see a major difference but when you start looking into different groups of customers we see I guess two main groups one that actually goes deeper into the product and is seeking more advanced use cases and I can't really turn into power users pretty quickly because they need to implement new or workflows our good example for that is our payment integration so people that need to be able to very quickly put together a system to offer online gift card buying because people cannot show up to the store but they will eventually need to so rather than waiting until the doors reopen they buy gift cards now so those customers used to be fairly basic and now they are advancing into into the product and going into integrations and workflows and so on and we have a totally different group that actually needs to streamline operations reduce the amount of advanced campaigns they're running and really streamline their cover sector their conversations with their customers to the bare-bones essential messaging so I guess it actually spreads those two groups separately or get them to cross paths in a way which is pretty fascinating it doesn't really change overall what people take out of the product it just changes the way individually they behave around around the platform yeah these are really great nuances and they were of course require a different approach and different messaging from your sales organizations we'll talk about how we're responding to that let me first try to summarize what we talked about with this core middle of the funnel if you will so I think generally in this group there's not been necessarily a big impact in demand but you have seen some changes related to maybe lower usage by customer lower average price decisions being a little more conservative so in that way it's suppressing perhaps the overall revenue and the value of these opportunities in a Karthik spoke in a compelling way about his solution which is seeing a lot more buyers 15 toward a greater emphasis on ROI their spent is becoming more precious so when they do choose to spend it with you they need to be much clearer about the potential outcomes and return and then a friend soai you did a nice job outlining some of these nuances in the middle of the funnel perhaps not an overall value but when you look at specific segments you see the emergence of these kind of different behaviors super users popping out of typically very easy to predict kind of customers and also customers really leaning down that is cutting the scope of the solution they used as a reflection of the very lean approach to handling things during the crisis so all very good thank you let's move on to the bottom of the funnel let's talk about what's happening with retention and also with churn and customers Francois I'll stay with you here let's if you can tell us you know what you're seeing and how you're approaching these issues sure so what have been largest teams at time forum is the customer success team churn is one of the major focuses that we have and we've had for the last couple of years so we've always taken churned very seriously and one of the one of the first thing we actually did when businesses started shutting their shutting down or slowing down their operations after this this outbreak was reaching out to them identifying first that we would expect an uptick in churn which we actually saw in some in some verticals so that was fully expected but trying to understand as quickly as possible and as efficiently as possible whether it was actually linked to codeine 19 and whether there was any expectation that we didn't know about that we needed to know about and try to meet and also fully embracing the fact that some of those businesses were going to struggle and so we needed to be empathetic and try to be understanding and supportive as much as we could so churn if you have to we totally understand let us know how we can help and let us know how we can help whenever you can come back and whenever whenever you need a prop to actually get your business going again so the empathy part is really again prevalent in that whole exercise for us is trying to understand what's going through our customers lives that is making their decision necessary at this point and trying to anticipate working again with them in the future and doing it in the most humane way possible so that's super important for us the core check your thoughts on this one absolutely I think John is super critical metric for us at fresh accessible I think people have to be reaching out to a lot of our customers to offer relief be freamon's credits etcetera in fact one of the things that I'm also noticing I have been talking to some of my peers across that we are repurposing some of their capacity the seals capacity for example the hunting capacity to account management because at this point in time fashion rocks Muto's is the effective customer right and that is what you want to do we want to embody that and in fact in my team I have repurposed a bit of hunting capacity to account management to ensure that we are there with our customers to go deep we understand the pain points at once and serve them to the best of the ability that we can so those are to be seeing we are actively reaching out we are talking to them and they are mother very good outcome one outcome of this is that the collaboration between farming account management teams and customers six teams have gone up substantially more sync ups is a lot more cadence there's a lot more account planning happening so these are things that you see but yes I think there is strong customers are also adopting a wait and watch approach I think all of these things are definitely things that we see at sessions good thank you so much Brian yeah okay you know this is a this is the the most important thing that your business can take a look at right now in this market right is that how can you employ an element of compassion and and France why I think you knock that you're not going to park with that apathy piece this is where that matters look it you know if you probably already have done this but it you know I know we did it right away is we had to do a churn analysis to try to identify at risk at risk you know customers just based upon what we saw is the at risk industries that were gonna be mostly affected by everything going on with the crisis and so I think that you know first we did that and identified that but the second is to add to know that you need to approach this market with that level of compassion and flexibility in order to make sure that you're going to be able to meet demand of your cost and hopefully they see that and they come back later you know the the the truth is is that this market is going to produce market winners and market losers you're going to have companies that are gonna win in the long term and you're gonna have companies that are you know potentially and very sadly going to die but that generally speaking is how business works anyway and I don't say that without any sort of lack of compassion for what's happening because I I really do feel for for these these industries I think that I say that though just to keep in mind that like you need to make sure on your turn side that you know you you approach it in a healthy way so that you have the ability that to regain as much as that as possible when the time is right to do so and at the same time you maintain the relationships that you're going to have in there because every person that's going to lose or you know if I have to find a new job is going to still be your customer in the future you should never be selling someone once you should be selling someone multiple times through all the wonderful relationships that you build over time and I think that's been our our approach to it great Mike yeah as a you know we've we've beaten the empathy dead horse but it's obviously a huge aspect of what's going on here and and one thing that that popped in my brain went when Karthik was talking was about the the hunting aspect of account managers that's actually something that we're doing here as well the a.m. function rolls into sales so we've noticed the sort of the easy expansion dollars coming on you know renewals with a little bit of lift those are behaving a little bit differently right now so we can't rely on that to hit our new expansion revenue targets so positioning those resources with an outbound approach almost into whether its subsidiaries or you know different different departments within within the businesses that we already have penetration with putting more of a focus on the AMS on pipeline as opposed to the the dollars this month so adjusting that a little bit more to putting more hunting on the AMS is something that we're also doing it's panda dock do I understand that correctly to mean that you're focusing more on expanding relationships that you have as opposed to going out and getting new ones there's more of an emphasis on growing existing customers and that's where the reallocation is going it's more of just a focus on those specific resources because there's there's less growth and accounts that are renewing now they're more straight renewals our customer success team can can manage that type of function and make sure that churns not happening in those types of renewals so we're able to free up some time for the AMS without those types of opportunities for them to work to take more of a proactive approach into the base to try to create expansion pipeline from existing accounts yes that part you were you were correct on Bob gotcha thank you so I'll quickly try to sum up this thing at least a few points that I found especially relevant first of all this churn we're experiencing all really all businesses would be experiencing some extra normal churn and we have to treat it differently it's not typical churn in fact it has the promise of being temporary for many of these customers that are exiting or taking a hiatus and if we take the type form philosophy that every customer interaction counts these interactions where a customer is leaving you or suspending a relationship with you they count double or triple maybe more so the way you communicate at this time is extremely important and the need to do that with both empathy and also a bigger picture understanding of what's happening and why so these are all good things as well as the strategy many of you mentioned of re allocating these sales resources from perhaps the top of the funnel getting new logos to expanding business and other parts of the funnel so thank you for your insights there let's move ahead we'll talk a little bit now about how you're measuring the funnel I mean all these changes have to be impacting the way you size the opportunities in the funnel the way you characterize the behavior of you know the things in the funnel and report throughout the organization so I'm very curious to hear your thoughts about how measurement is changing and how the analytics are you know look different now in your funnels Michael stay with you sure so I mentioned obviously a ESPYs earlier in the call average sales prices so that's one of the one of the immediately noticeable changes to to funnel performance you know some of those deals coming in at a lower value the other pieces that we're seeing is you know due to some perceived increased demand with folks moving to remote working environments we are seeing an influx of volume leads at the top but the conversion rates of let's say lead to a closed one or to a logo are dipping a bit not just due to higher volume but I think also performing a little bit differently mid funnel from a demand standpoint so like I was saying before it's the average sales price that I'm seeing I'm seeing the the biggest change but we're also noticing that just a high influx of demand at the top does not necessarily equal you know consistent growth or equal growth to what's happening at the top of the funnel so it's performing a little bit differently in the middle but those are the largest things I'm seeing in terms of you know funnel metrics changing over the last 800 last eight weeks thank you Mike Karthik can we go to you next so yeah I think I can get those watch on metrics like everything price conversion rates etcetera one of the things to Brian's point earlier is we don't want you to we looking at new metrics the conversations how many conversations are you having in our eyes is the way looking at measuring STRs at the baby are looking to enable Aristeas to say okay how many conversations in a week is STR having with accounts of the ICP right because I think if you're going to take too much of a very short term you have just you to I think it's it's lost cause we don't want to do that it technically seen ESP is our past coming down we see in conversion rates taking a bit of a hit especially in the SMB side but one of the things that we're doing is to ensure that we are keeping the conversation that are not controlled right we need to clearly understand what are things which are not controlled what are things which are not right things that are controlled like doing the activity is having the conversations right getting better at our positioning getting better at our value proposition are things that we are looking to focus on and I think this is something we discussed I think last week as well been kind of briefly synched up we really plan of our reckoning secures right not purely measuring them on revenue we are bringing in india company to say okay i am getting better at product pitches are you getting better at your pipeline discipline to CRF right I am taking additional initiatives right so these are things that we are looking to do to ensure that we are able to recognize reward and measure our teams on things that are in our control very good thank you so much credits craving others we've not heard from Francois or Brian any comments I'll chime in there Karthik that's really interesting by the way that your your restructuring some of that compensation piece for the AES in a maybe a qualitative rather than quantitative way that's that's very very interesting I on our end look like very contrary to mike art cost per sale hasn't really you know our ARPA hasn't really been affected if anything we've seen increased DARPA but I think it's because the type of service that we have and what we drive and our clothes are it's very different I should say on the inbound on the outbound side of our business on the inbound side first and foremost we don't see that big drop in ARPA and we actually if anything see a have seen and it's starting to dip a little bit now but we have seen an increased conversion rate to close one people are moving quite quicker they need to have that phone set up and they're ready to rock so I think it's a matter of like the people are prioritizing the needs that they need to get in place and they're trying to figure out what those immediate needs are and if they can identify them they're rocking it and that's kind of what they're they're figuring out on the outbound side and the metrics that work we're driving yeah I have to be honest we're we haven't changed the metrics that we track I think what we have done is we've driven a new metric which is we've asked or what we call VIP touches which is another way of saying like we want to make sure that you're selecting really good contacts at the account level that you're reaching out to and when you do do that we want to make sure that the the information or the the content that we're sending them is very curated it's very much like a perfect fit and match for what we should be speaking to that person about because again everything in this market has to be that one-to-one communication and then I think it's it goes a step further we are really setting our sights on a q3 and outbound so I'm gonna dive into this a little bit we know there are businesses that are still thriving when I said this a minute ago but we we know there are businesses that are still thriving and and thriving because the market still needs them and we know that we match into those and those are typically still a piece of our ICP whereas we know the closing cycle the sales cycle might be a little bit extended we know that we're setting ourselves up for success by still going after some of that traditional ICP in accounts that we know are doing okay and that our accounts but prospects that are doing okay we know that our do we are surviving so I think it's it's a little different for us we on outbound on q2 you know we anticipate some of that like uncertainty where we're going to end up I think no one really knows exactly yet how that's going to look just because it seems to be a wave but where the last piece I'll say on this is we're approaching our outbound strategy on a weekly basis and what I mean by that is that we're taking a look at how we're addressing this market how we're talking to our customers every week to make sure that the messaging and what we're sending out is relevant to what's happening in the moment and I all this out because I know companies use like outreach or sales aloft or some sort of sales engagement platform and if you create automated messaging that is several weeks in advance you potentially are going to send a message that's not overly relevant for the moment in which it's set so we're trying to really approach it with a thought of what's happening in in that moment that's very and Francoise your thoughts I can't agree with Brad more than what he just said is actually extremely relevant to us in terms of cost of sales and interactions with our customers we probably see less requests for hands-on demos sessions and things like that from our sales teams but the ones that we still get are way more advanced needs as well people need to very quickly be efficient at that so the discovery period seems to create some sense of urgency for people to actually go deeper into the product faster so the investment spend on those particular leaders is a little bit bigger but at the same time let's hope those needs actually need that approach because a lot of them are actually trying to figure things out for themselves we barely had time to rework our onboarding documentation and so on at least not necessary specifically for this current situation but it's just a matter of people not necessarily having the patience to wait for a sales call to happen and so in trying to figure things out by themselves and we find out that they actually do figure things out by themselves and the ones that don't actually need to be speaking with people because they're trying to do fancy of things with the product so incidentally our sales team is less involved in in sales goals in general but the ones they are they are jumping on our more hands-on and they woken people from product team from the integrations teams and so on to really get those advanced use cases going for our customers that's great thank you I I'm going to move us ahead I'm going to in fact make this our last question and ask you you know in light of everything we've talked about and specifically we've talked about a lot of changes and reactions to some extremely unpredictable market circumstances so this is challenging enough for the sales organization it's also challenging to your bigger firms those who support sales or who you know may be removed from sales but are quite impacted by what's happening in the mark place can we talk just a little bit as a way of maybe summing up and you know take the opportunity to provide any closing thoughts that you might also have about these demands beyond the sales organization in your firms and that would be great friends while I'll stay with you and let you go first sure so beyond the sales organization I think for us it's extremely important right now to be efficient at the way we communicate with our customers so the current messaging coming out from the marketing team the customer success team and the sales team to that extent needs to be essential needs to be helpful and needs to be somewhat prompted by the kind of feedback that we're getting so we need to be able to back-channel all that feedback and infuse that into the messaging that we sent out so whether it's data from our current survey whether its data from sales goals that we're having or people reaching out to the support team if we see an influx in tickets or a bunch of the feature for instance that's what we're gonna try to fuel into the messaging because that seems to be the media demand and we try to be way more agile and efficient at that so the cycles are a little bit shortened again the idea is to be as helpful as possible to our customers and and making sure that they can continue operating to the best of their current abilities great thank you Mike your thoughts like it might be muted sorry about that didn't want to interrupt France wives he was given such great feedback there so what I'm what I'm noticing is almost like an all-hands-on-deck on the revenue side of things and to Brian's point of you know pushing messaging out we've actually had to push our enable make calendar out a bit to react to some of the new logos and some of the new demand that we're seeing in new verticals so from product marketing to sales enablement to sales management customer success product we need alignment on these new these new markets and we need a plan for the sales team to adapt so as opposed to doing you know some of the enablement plans we had on the calendar which were you know mostly based off of our annual goals and what we saw coming based off of our operating plan not to say that's gone out the window we've just we've just prioritized a few other things and put those things to the front so so everybody on the revenue team seems to be in that all-hands-on-deck sort of mentality to try to to try to follow what's converting and capitalized strike while the iron's hot while we can thank you Karthik we'll give you the last word before we do we'll go to Brian else also so I think that I look like what we do today what your organization does today is going to echo and I mean internally and externally is going to echo into history for your brand it's about how you are going to address everything and the choices that you make that are really going to matter so I think first and foremost everybody's mission on everyone's and every single team has to be checked the ego at the door yeah you might have a title mayor you might have a general job but I think there's never been a more important time to get scrappy to get adaptive to what's happening we have a one team mission at AER call right now which means that they're you know just because you might have been the ex person responsible for why doesn't mean that you're not porting numbers for one of our customers right now okay it's like like where we're getting all teams that may have been maybe a little less busy given that their job might be more of an office environment role we're employing them against other areas of the business where we're seeing an influx of need and I think the biggest thing is that like we have to be you have to be thinking about how do you how do you help the overall mission of the company right now in this environment if you can do that and you're gonna meet your customers needs you're gonna meet your your your employees expectations and I think it speaks for how you're going to going to be viewed and measured on the outcome on the outside of this whole crisis so yeah what you do is going to echo yeah if so well said it's you know an exercise in fighting fires for many of us will remember how we responded and your insights are especially keen given that you're literally fighting literal fires when you're not fighting the ones that we're the kind of we're fighting and Karthik will let you back clean up as if as it were and had the last word your thoughts on this sure no I think it's definitely all hands on deck for assessment we definitely see in collaboration between seniors marketing customer support customer success product marketing some of the play books that were pendings in the longest time have gotten that in a week because I think people want to ensure that they display sense of urgency and one great thing I am seeing in the organization's also that there is a lot of psychological safety that's being given people understand situation and in fact there is a very clear mandate from leadership to say okay this is the opportunity can you guys to sharpen your axes to learn and more importantly under and adapt so and be seeing that we are tracking it we're having embryos to ensure that all of that kids effectively using but yeah all in all I think even food two months and to Brian's point I think what we do now is going to define or define yes thank you well sir well the gentleman who running late and short on time so with regret I'm going to stop discussion at this point I would like to personally thank you for such incredibly useful and timely insight on this topic so a very personal and heartfelt thank you to our really excellent panel a Brian Francois Mike and Karthik thank you gentlemen thank you everyone everybody yes thank you before we leave out this remind everyone that our next event at sales management Association is our online conference may 6th if you've not taken advantage of our offer of a free registration for the first 2,000 we encourage you to do so at sales management conference com we hope to see you there for everyone at the sales management association please stay safe thank you goodbye until next time
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