5/25/2016 Interview with LiveHive
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).
This week I interview Suresh Balasubramanian, CEO of LiveHive.
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?
Suresh: You know how organizations have been on a sales tool-shopping spree over the past few years? Well, the problem is that many sales organizations are starting to experience buyer’s remorse – and they want to go back to the store to make a return.
These organizations want to give back their point tools and exchange them for a single solution that easily integrates with their existing tools in their existing workflow. It’s like buying six different chairs and a sectional from different retailers and taking them home and realizing they don’t go together – at all.
Right now sales organizations have an average of 5 tools in their sales stack – and they keep buying more. The Sales Management Association recently reported that 49% of sales organizations are spending more on sales tools than they did two years ago, and 60% expect to increase that spending over the next two years.
Yet, less than 25% say their tools work well together, and only 19% are satisfied with their sales tool integration.
When you have a lot of sales tools, and they don’t work well together, it hurts your organization’s productivity and effectiveness.
Sales reps lose precious selling time. With tools that aren’t seamlessly integrated, they have to constantly jump back and forth between them, interrupting their workflow and making it difficult to focus on strengthening customer relationships.
Sales leaders don’t get the visibility that they need to effectively lead the organization. They don’t have the insights that they need understand the effectiveness of their sales processes and team behaviors across all sales stages.
LiveHive solves these problems with an open and extensible sales acceleration platform that gives enterprises a unified view of their sales processes, team activities, and opportunities on a single platform. Seamlessly integrating best-in-class sales tools with our deep engagement analytics, sales leaders get continuous and end-to-end visibility to easily scale teams, simplify management, and streamline processes.
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?
Suresh: If a sales organization tries to ‘limp along with things the way they are,’ that organization will be left in the dust. High performing organizations are already adopting a single platform approach that integrates best-in-class sales analytics technologies.
These organizations will surpass their competitors that don’t take the time to evaluate how the sales tools being added to their sales stack work and operate together. It’s not just about a prospecting tool or a qualification tool; the issue is how all of your tools function together to improve the effectiveness of your organization as a whole.
Organizations are already spending the money on sales tools, so it’s not a question of whether or not to make the investment. It’s about making the best choice to get maximum return on those investments. It’s about ease of management and use.
CSO Insights 2015 Sales Performance Optimization Study found that Global 2000 firms are spending an astounding $2.4 billion on digital sales channels and tools. Yet only 13% of sales reps are using the full capabilities of sales tools. Do you want that for your organization?
Nancy: What types of questions should sellers ask to decide whether solving this problem should be a high priority?
- Do you have a complete view of your team’s behavior and your sales processes?
- Can you easily integrate new tools into your sales stack?
- Do you know what your A players do so you can coach your entire team to success?
- Would your organization benefit by building more repeatable sales processes?
- Do you know how much you are spending per rep on ALL the sales tools combined? Are you able to easily determine the ROI of your tool spend?
- Do you currently know (or have a plan on) how to double the number of opportunities created with the same number of reps?
Nancy: This question is your choice. What do you want to answer that I didn’t ask?
Suresh: The question I’d want you to ask is, “how LiveHive uniquely solves these problems for sales organizations.”
I’d answer that using LiveHive’s powerful engagement analytics and sales force automation, integrated into a single, unified platform, sales reps are increasing connection rates by 400% during the qualification process to double the number of opportunities created.
Sales leaders get a “single pane of glass” visibility™ into actionable insights across the entire sales cycle. Through the LiveHive Sales Connect partner network, we also offer integration with best-in-class sales tools, such as InsideView and CudaSign eSignature from Barracuda Networks. These are on top of our existing integrations with Salesforce.com, Microsoft Dynamics, Act-on, Egnyte, Box, OneDrive, DropBox.
Sales organizations can choose the tools that they want and work within the tools they use everyday. Seamlessly integrated with LiveHive’s deep engagement analytics, all sales intelligence can be easily accessed in one place. We give sales leaders a ‘single pane of glass’ view across their revenue funnel, so they can quickly see activities, spot areas for improvement, and get a more accurate view of their pipeline.
Nancy: What should people do next?
Suresh: If you are considering purchasing a new sales tool for your organization, take the time to consider key criteria, including: how the sales tool will integrate with your existing solutions; how the sales tool can scale to meet your future needs; and the value that the sales tool brings to both sales reps and sales leaders.