Before You Begin –
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You Can Crush Your Growth Goals
There’s a lot of ‘nice’ sales & marketing advice out there, that can help you add an extra 10% or 20%. But what can help you add an extra 200% or 300%?
It happens more often and more systematically than you may realize.
If you care about sales for your team or company, here are some PRACTICAL, REPEATABLE ideas that have been proven to make a HUGE difference in sales.
For example, these ideas helped…
- …Salesforce.com almost double enterprise revenue and add $1 billion in revenue.
- …EchoSign and the Adobe Document Services grow from $0 in revenue in 2006 to $144 million in revenue in 2013.
- …Responsys transform from a slow-growth $20 million to rocketing 10x to $200 million in revenue and get sold to Oracle for $1.5 billion in 2014.
- …Acquia (a $45 million company) get on track to adding an extra $30 million in revenue and make sure it is “when, not if” it will break $100 million in total revenue.
At a minimum, this ebook can help give you more peace of mind, predictability and clarity in how to make next year the best yet.
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In This eBook – 5 Ideas That Drive Big Growth
Meet the Authors
Aaron Ross is the #1 best-selling author of Predictable Revenue (called by Inc.com the “Sales Bible of Silicon Valley”). He worked at Salesforce.com, where he built the outbound prospecting team, which has helped Salesforce.com add $1 billion.
Aaron’s married with five children (hopefully growing to eight soon through adoption), lives in westside Los Angeles, loves motorcycles, and keeps his work to 25-35 hours a week.
Jason Lemkin is a Managing Director of Storm Ventures and writes the #1 Saas blog: Saastr. He founded & was CEO of EchoSign, where he led it from $0 to $100 million+ in revenues and through a successful acquisition by Adobe, where he then served as VP Web Services.
Jason’s married with two kids, lives in Palo Alto, and loves running every day without fail, and anything having to do with Hawaii..
Bigger, Better (Plus: Need A Review Of The Original Predictable Revenue?)
This ebook is a set of highlights from the forthcoming full book, The Predictable Revenue Guide To Tripling Your Sales, the sequel to Predictable Revenue. If you haven’t read Predictable Revenue or it’s been a while, here’s a short summary of the main ideas from the original book.
The “Triple” book will build on the original with more case studies, more details, more apps, and more ideas, so stay tuned as it’s released serially (you’ll get every update in your email inbox).
Apps That Matter
The original Predictable Revenue barely touched on useful sales & marketing apps.
Since the book came out, the number of neat sales & marketing apps has grown by one or two bazillion. It can be overwhelming. There are hundreds and thousands of useful or interesting apps. And many individual sales reps have found uses for some.
But which ones can make a difference across your entire team in repeatable, scalable ways?
Some great applications in our case studies:
- Cirrus Insight: If you use both Gmail & Salesforce.com, run – don’t walk – to get this app that lets you update Salesforce.com from within gmail.
- Gainsight: A Customer Success Management application to drive growth with “Seeds” leadgen. In my opinion, Customer Success & Gainsight are a ‘next big thing.’
- Hoopla: Increase sales team motivation with leaderboards & contests that work.
- InsightSquared: A powerful & easy-to-use Sales Analytics solution that offers actionable insights into your leadgen & sales metrics so you can make the right decisions to triple your sales.
- LeadGenius: An outsourced, on-demand prospecting team that can grow with you — offering creative & Cold Calling 2.0 prospecting approaches.
- NewVoiceMedia: Internet-based contact center software used by sales, support & customer success teams.
- SalesLoft: If your prospects are on LinkedIn, you need this tool to easily build clean lists (with emails) from LinkedIn.
- Showpad: iPad app for salespeople who visit local / physical offices. Tablets change everything for the field!
- Yesware: A sales acceleration tool that helps you understand what activities equal closed business by tracking and analyzing email communications across Gmail and Salesforce.com.
To Grow Faster, Hope Must Die
How many reps or managers count “maybes” or long-shots to get them to quota every period? You know, the deals that always “could” happen? ? Hope can make you blind to seeing what is and isn’t working or not; you need a reality check to make good decisions.
For example, the app InsightSquared helps teams more easily get “the truth” and sell smarter with live charts like this “Sales Strikezone,” which makes it easy for a rep or manager to zero in on the few best opportunities to focus their precious time on near month/quarter-end.
The Sales Strikezone:
Lead Generation Absolves Many Sins
Have any of these problems?:
- More than 20% of your salespeople missing quota
- Sales turnover > 10%
- Low close rates
- Slow sales cycles
- Demotivated salespeople
- Missed 2+ quotas in a row
- Bad breath (just checking to see if you’re still reading…)
Rather than chasing piecemeal solutions like trying to improve your demo process, hiring approach and Salesforce.com setup (though all are important), more often than not, there is “one thing to rule them all” – better lead generation solves a LOT of sales problems.
When you struggle generating enough decent leads for your salespeople, everything else needs to be perfect:
- You need perfect salespeople.
- You need a perfect sales process.
- You need a perfect product.
Because you have no buffer to miss anything.
A bigger, better lead generation machine (whether from inbound, outbound, whatever) gives you a lot of slack to get a lot of things wrong – and yet still crush your goals. As I said before, you can have a perfect sales process, but without scalable lead generation systems, you can’t help but struggle.
With great lead generation, you can get pretty much everything else wrong, and still do really well.
Your Gasoline For Growth…
The best way to triple new sales isn’t by tripling your salespeople (the traditional method) – but by tripling your qualified leads. You can have a Ferrari car, but it doesn’t move an inch without gas. LEAD GENERATION IS YOUR GASOLINE FOR GROWTH.
Yes – you do need a product or service that solves problems people care about, and happy customers, but that’s not enough, and none of that matters if you can’t proactively drive leads from both new prospects and current customers.
You can have the most amazing sales process in the world, but if you’re not getting enough leads, you’re going to struggle.
If you have a crummy sales process, but excellent lead generation, you’re going to do well!
3 Types of Lead Generation: Seeds, Nets & Spears
1. “Seeds” are many-to-many campaigns. They’re based on word-of-mouth and relationships. For most companies, this mainly will be your happy customers who generate referrals, high renewal rates, and high upsell/cross-sell rates.
Salesforce.com pioneered the “Customer Success Management” services approach to systematize this. Happy customers beget more happy customers, and are your best source of long-term revenue growth and high profitability.
2) “Nets” are one-to-many marketing campaigns, with approaches like “inbound marketing” and “growth hacking.” Hubspot and Marketo are two companies that have pioneered the whole inbound marketing industry.
3) “Spears” is targeted outbound prospecting or business development, ideally by a dedicated prospector(s). The “Cold Calling 2.0” outbound team and process at Salesforce.com has added more than $1 billion in recurring revenue to companies, including Salesforce.com and Responsys.
Keep in Mind: One is not better than another
Too many companies obsess on a single form of lead generation and ignore the others. Each type of lead can have different marketing funnels, conversion rates, sales cycles, average deal sizes, ideal target customers and methods of increasing them.
The important thing is knowing which type(s), and in what mix/balance, work best for your business.
Want a recap of the original Predictable Revenue before going on? Click here.
In the next section, I’ll dive into the “Seeds” – the pros and cons, the importance of customer success, case study examples and key metrics…