We were delighted to host Dan Loosemore, COO of DataCentreDynamics at our recent webinar Scaling Sales Operations. Chaired by Collingwood Advisory Director Fergus Gregory and joined by Collingwood Senior Adviser (USA) Melissa Ashley, here are the key takeaways from the discussion:
The right sales strategy is critical to Scaleup success
In B2B and niche markets, sales strategy and its execution has a key impact on the speed and success of value creation.
Customer Loyalty is vital in scaling a business – The sales experience STILL accounts for majority of customer loyalty (lagging way behind are the other top factors brand, product and service delivery and price)* Challenger
The right focus for the right return is vital to scale both value and profit.
Sales has the biggest impact on strategic success but only if they are 100% aligned with the business and product strategy
Adopt a process-led approach to sales
As businesses scale they can no long rely on a personality-led sale, or on sales ‘heroes’ who will pull rabbits out of hats. By looking at the SaaS model, Dan Loosemore explained how DataCentre Dynamics have supercharged growth by splitting client interactions into business development, account management and client success experiences. Although rigorous handovers and discipline is needed to support this model, it allows each member of the team to focus on their own strengths and to deliver consistently over a clearly defined set of KPIs.
Get obsessive about data
A clear understanding of data and analytics can underpin the alignment of a client-centric business and ensure better outcomes for both clients and media businesses. By staying on top of client data and campaign KPIs, teams are able to spot red flags or obstacles early and either tackle or mitigate them to drive retention. A good grasp of the data will also help to scale inventory, identify trends and spot upsell opportunities year round.
Scale faster by prioritising high value clients
By dividing the market into tiers, media businesses can see more clearly where to prioritise their time and resources, and also work out how best to test new products or models with the market. Running the client success model for the top tiers of clients ensures a better customer experience and taking away the distraction of smaller clients from top performing teams can keep focus where it needs to be.
Build packages based on customer outcomes
By setting up a team to deliver on outcomes, media businesses can drive up average order value, customer lifetime value and market share. While some industries may still be tied to traditional lead generation methods or advertising strategies, educating clients about how they can reach their market and achieve their desired outcomes in a more considered way drives results. A focus on the products which deliver the outcomes customers need, reduction of bespoke packages and alignment of the whole team behind process for delivering the ‘lego blocks’ of a campaign, both outcome and client engagement can become much more consistent.
Use tech to boost team performance and customer experience
Shifting teams to a client success model needs discipline from all members of the team to make it work. Although sales teams have get better at logging and sharing information digitally during the pandemic, businesses must act to ingrain the effective use of tech to support communication across teams. From basing bonuses on digital accountability to troubleshooting through project management software, getting teams and tech aligned is an important factor for sales performance and client satisfaction.
Invest in sales leadership
Involve the sales leader in the business strategy so they understand the bigger picture and can communicate to the team. Understanding the WHY is not only motivating but primes the sales team to report back relevant customer feedback. Invest in the sales leader so they have the time and the mechanisms needed to coach, incentivise and train their team. In a scaling business, sales leaders should be in constant recruitment mode so they always have a bench when needed. Your talent pipeline should be prioritised and consistently measured so that it doesn’t get lost in the day to day.
Collingwood Advisory’s Sales Strategy and Development programmes are helping media entrepreneurs and their teams to accelerate growth and improve quality of earnings. Get in touch with Fergus or Melissa or the rest of the team to find out more.
- Fergus Gregory, Director, Collingwood Advisory
- Melissa Ashley, Senior Adviser (USA), Collingwood Advisory
- Dan Loosemore, Chief Operating Officer, DataCentre Dynamics
Here’s the recording:
You can also view the webinar presentation here.
Fergus Gregory, Director, Collingwood Advisory (Moderator)
Fergus is an experienced B2B media business leader who has spent over 15 years in the world of media, subscriptions, and events. He led two major profit centres at Informa, and was responsible for The Drum’s global expansion in his most recent role as Group Commercial Director.
Melissa Ashley, Senior Adviser (USA), Collingwood Advisory
Melissa has served in leadership roles at Informa, Reed Exhibitions, Bloomberg BNA and most recently ICSC before getting involved with Event Tech to funnel her energies into supporting the event industry through its next evolution. Her experience includes setting the strategies to drive scale, revitalizing mature tradeshows, restructuring teams to drive growth and efficiencies, as well as acquiring or launching new products and events.
Dan Loosemore, Chief Operating Officer, DataCentre Dynamics
Dan was previously Co-Founder and Director at 2 B2B marketing and publishing businesses with successful exit multiples. He has experience working within FTSE businesses and scaling start-ups.