Since the development of the first online shopping cart, we have been hooked on solutions that drive business and consumer product sales online. We immersed ourselves in what has evolved into the most dynamic market segment in technology, with over 2,000 firms providing solutions. For two decades, we have watched the winners and losers, and become intimately familiar with the ecosystem. Today, for a technology vendor to succeed, they have to impinge on the Chief Digital Officer’s most valued assets — time and bandwidth — and convey a compelling and credible story regarding the “lift” their solution can provide. That requires an uncommonly exceptional sales leader who takes a truly consultative approach as a business partner steeped in the problems of online commerce leaders. Our bread and butter has been getting down in the trenches with these market makers who have helped previously unknown firms rise to pre-eminence.
When a technology vendor focuses on the technical nuts and bolts of their product and does not provide adequate planning, or budget, for marketing and customer success management, they will run into the same challenges that this post-sales analytics firm did. Relaunching for a second time, the firm had few large enterprise clients, their messaging was off point, there was no sales operational process and their beta sales were not converting. Not surprisingly, they had a disorganized sales strategy and no clear sales direction. The company had no customer success function. In short, they were lacking effective revenue leadership.
The Rosenstein Group recruited a SVP of Sales with a background working within the ecommerce platform community. Further, the candidate had extensive expertise turning around startups, resulting in two successful exits.
Through a series of aggressive marketing strategies, the SVP took steps to reintroduce the solution to clients, increase effectiveness of the sales effort, and take care of CRM. These actions included meeting with existing clients to develop KPIs, satisfaction levels, and performance goals, developing go-to-market messaging featuring key differentiation features and metrics and deploying an SFA CRM system. The inexperienced sales team received mentoring in the field and effective training in the new sales messaging. A senior customer success with emphasis on utilization was hired,resulting in a 50% decrease in churn. The net results of the efforts included conversion of 90% of beta users, establishment of productive alliance relationships with major ISV partners and a 300% increase in sales in the first 12 months.
“Darrell is the best recruiter that I've ever worked with from the candidate side. We built a relationship because he was in touch with a friend of mine about a position that I was interested in personally. Darrell did a great job both screening me for the position, getting me excited about the opportunity, and preparing me for success in the interview process. He was very thorough and made sure that both the hiring manager and I were set up for success. He not only understood the domain in which the company was selling, but the personalities and preferences of the people that I went to speak with. After a successful interview, I took the job. Once aboard, I learned that Darrell had also placed two of my teammates and all three of us had similar great things to say about working for Darrell.