8/4/2016 Interview with Yesware
Let’s Get Real.
In this series, we interview sales tool providers and get real about the problems they’re solving and why you should care (or not).
Nancy: I ask guests to answer the first question using what I call the “You know how…” format. Tell us, what does your solution do?
Mark: You know how 80 percent of sales representatives fail to consistently hit their quota each month? That’s right, the majority of sales reps are missing their marks because they lack three things: time, tools, and direction.
Time is valuable. We understand that all sales reps are in different places, but whether they’re new to the team or a more senior team leader—it’s hard to squeeze all necessary sales activities into each day. Yesware is a prescriptive sales platform that saves reps time by replacing manual activities with automation (think: Salesforce sync, email templates, click-to-call, email campaigns) and helps managers better coach reps by adding the right tools and direction for success.
Yesware gives sales managers the insight they need into rep activities and effectiveness, and provides them with data that they can easily act on. It shows which prospects are highly engaged and likely to close and identifies strengths and weaknesses across the team.
Nancy: That sounds like a problem worth solving (and a worthy solution). But let’s get real, sales and marketing organizations have a lot of challenges and they have to make choices about which to solve first. Why shouldn’t they continue with things the way they are if they’re getting by? What are the ramifications of not solving the problems you outlined?
Mark: When sales reps don’t hit their quotas, they’re bound to become discouraged, and this leads to frustrated sales reps quitting and employers having to make layoffs. Not only that, but when sales teams aren’t reaching their goals, the company suffers. Our tools help build productivity from the ground up by fixing inefficiencies, uncovering strategies that work, and closing more deals.
If the 80 percent of sales reps had more time and more direction, the results could only be positive.
Nancy: What types of questions should Sellers ask to decide whether solving this problem should be a high priority?
Mark: Sales leaders should ask what their return on investment (ROI) would be by using a sales tool. How much money will they win back compared to what they’ll pay to use a product?
Say a salesperson typically helps pull in three $800 Monthly Recurring Revenue deals a year, without using a sales tool: $800 (MRR) x 12 (months) x 3 (deals) = $28,800 per year.
They start using Yesware and it costs $55 (per Enterprise user) x 12 (months) x 20 (reps on a team) = $660 per year.
With Yesware, they help close two more deals per year, on average. Because they’re able to scale their outreach and identify and replicate the strategies that resonate with their prospects: $800 (MRR) x 12 (months) x 5 (deals) = $48,000 per year.
So they’re helping to close almost $20,000 more a year, at a cost of $660.
Is a $18,540 ROI worth it? You tell me.
Nancy: This question is your choice. What do you want to answer that I didn’t ask?
Mark: What’s new at Yesware?
As I mentioned, we’ve launched our prescriptive sales platform for sales managers. It keeps sales teams focused on action, shows real-time results, and uses data to scale success. It contains an Activity vs. Engagement Report (below), a Manager 1:1 Report that is sent by email to recap each rep’s performance, and a number of Salesforce activity dashboards.
We’re also getting ready to launch an exciting new tool for SDRS that we think will save them more time and help them with scalable, personalized prospecting. Stay tuned for that.
Nancy: What should people do next?