Issue 57

IN THIS ISSUE

Here we are at the end of February, with the end of Q1 just a few weeks away.

Today's Driven leads with a timely, relevant topic:

How to fill your revenue pipe and make it flow faster.

REVENUE

How to fill your revenue pipe faster and get keep it flowing

"Get your legal team involved in your red zone offense by creating a fast-turn version of your contract that contains only your minimum required terms."

Challenge

Your company has to generate revenue fast. You're feeling a little sick in the pit of your stomach.

What are the best things to do now?

Ideas to consider

David Kellogg, a serial entrepreneur and investor in SaaS companies, shares 8 tactics to accelerate current pipeline.

He also suggests 9 techniques to generate new pipeline that moves fast.

Kellogg offers no earth-shaking new insight. Or at least it's not new for highly experienced revenue leaders.

But maybe you've overlooked a few ideas you should consider.

Here's my favorite for developing new pipe:

Selectively cut your sales development reps (SDRs) out of early work with potentially high-value accounts.

Why? Because a prospect's initial contact with a junior seller may slow things down. A more experienced seller could accelerate a new account by using a better discovery process.

Resource

"What To Do When You Need Pipeline in a Hurry." David Kellogg. February 8, 2021. Kellblog.

SALES & SELLING | LEADERSHIP | CULTURE | DIVERSITY

How your company's sales culture may be hurting your revenue performance

"Before you know it, your entire organization will be a collection of carbon copies the CEO insisted on hiring because they’re people they 'could drink a beer with.'"

Challenge

It's the time of year when many companies are rearranging their sales teams.

Is your company missing a big opportunity by not seeking—and protecting—more diversity among your sellers?

Is it possible your company has a culture that makes it hard to attract and keep talented sellers who aren't like the ones you already have?

Opportunities

Why should you want a more diverse sales team?

Because diversity improves the quality of your decision making.

It can also improve the way you support your diverse customers.

An idea to consider

Make it clear during your recruiting process that you value and protect people who don't fit the profile of your current sales team.

Resource

"It's Time to Leave Sales 'Bro Culture' in the Past." Stefanie Verardo. December 11, 2020. RevGenius Mag

SAAS | INDUSTRY TRENDS

Don't let the product-led growth megatrend catch your enterprise SaaS company flat-footed

"Product Led Growth is often synonymous with viral, freemium, and bottoms up sales.

But it’s much more than that. Any company – even those selling to large Enterprises or operating in niche vertical markets – can adopt PLG principles to improve user experiences and increase go-to-market efficiency."

Challenge

Companies that sell enterprise software are not isolated from the trend for SaaS companies to build go-to-market models on the strategy of product-led growth (PLG).

So how can companies that sell enterprise SaaS applications adapt to the trend, and even take advantage of it?

Why it matters

Increasingly, customers and prospects want enterprise software that looks and feels like consumer software.

Many also want SaaS products they can buy more easily, with less involvement of a sales rep.

These trends appear to be accelerating.

You may not be feeling them yet in your corner of the market. Even so, your buyers will increasingly expect the same of your products.

So it's smart to start moving in that direction now.

SaaS companies that pursue a PLG strategy typically have much lower selling costs and higher profits. Their valuation multiple is likely to be higher than for SaaS companies that still invest mainly in a direct-sales model.

An idea to consider

Commit to following this trend so it doesn't take you by surprise.

Resource

The Ultimate Product-Led Growth Resource Guide. Kyle Poyar. January 14, 2020. OpenView Partners blog.

SHORT TAKES

How to interview anyone effectively

"As an interviewer, your job is not to become a subject matter expert. Instead, you are a conduit for your readers’ questions."

Apart from hiring and job-seeking, it's important for nearly everyone on a revenue team to know how to interview people effectively.

Here are some examples of times you'll need good interviewing skills:

You must gather information or insights for use in a podcast or webinar,
You're interviewing a customer about the value they got from your products or services. You want good material for a testimonial or a case study.
You want to learn from potential prospects how they would choose a SaaS offering like yours.

Resource

"How to Interview Someone for an Article." Ryan Law. Whitney Rhodes. February 10, 2021. Animalz blog.

How sellers and marketers can create more effective digital content

"Consider replacing the typical table of contents page with one main message supported by three to four concrete, action-oriented phrases."

With so much of sales and marketing being done remotely, smart B2B revenue teams are using more digital content.

Buyers also say they prefer digital content over other formats, provided it's well done.

Here's the challenge:

Digital content is more important than ever.
Yet much digital content is done poorly.

Companies haven't taken time to rethink it for effective remote presentation.

A new report, prepared by a neuroscientist, provides ways to ensure that your digital content is engaging and memorable.

One key finding: About 60% of respondents in a survey of B2B sellers and marketers said they think it's very important to use animation or movement in slide presentations. And nearly as many say their visuals are mainly static.

Resource

Inside the Buyer's Brain: The Neuroscience of Digital Content. How Buyers Make Decisions (or Not). Carmen Simon, Ph.D. February 2021. DecisionLabs and Corporate Visions. [Downloadable PDF. 29 pages. No charge.]

WRAP UP

If you have ideas for topics you'd like to see in Driven, please email me with a quick suggestion. Or go here to share your ideas fast and anonymously.

It'll take only a few seconds. And it'll save you time to have me work on your topic for you.

If you've enjoyed this issue, please share it with a friend or colleague.

See you next on March 13.

Best,

Dave Vranicar

ABOUT DRIVEN

Driven is a fortnightly digest for busy revenue leaders in business-to-business (B2B) SaaS.

It's likely to be most useful if your company sells higher-ticket products that require moderate to heavy involvement of professional sellers.

Driven is here to help you:

Achieve your most important goals
Overcome your biggest challenges
Solve expensive problems
Become a better version of yourself.

You'll find an online archive of back issues 12 through 43 at this link.

About links, commissions, and endorsements

When I provide links to articles from vendors, does it imply an endorsement?

Only of their content. Not of their products or services.

If I recommend a service or a book, it’s because I think it’s likely to help you. Period.

I get nothing from providing links to any commercial service, including the books for which I provide a link to Amazon.

That may change. I’ll tell you when it does.