June 13, 2019
We’re back for Day Two of SaaStr Europa 2019! Follow our live blog from the event.
Catherine concludes that in order to implement this process in your business, you need to do several things:
The result will be a stark increase in your closed win rate, and let’s face it, what business wouldn’t want that!
It is all about creating value, and by this we mean: sharing knowledge, simplifying the buying and buying process.
This approach to sales empowers sales reps, because it can:
Below you can see the impact that using incremental commitments had on the closed win rates at Ometira.
Catherine has now taken to the stage. She is discussing increasing closed win rates with incremental commitments. How do we keep and maintain momentum in the funnel by using incremental commitments?
How do we get prospects to incrementally commit in the sale process?
Catherine explains that it’s through using next steps. But how do we get our prospects to actually commit to them? What value as a rep can I add during the process so that you can make those incremental commitments.
So to recap: the winning formula to a cadence that converts involves 3 key numbers: 45, 25 and 17. Cognism has grown from $0 to 4 million ARR in under 2 years. What has been unique about this growth is that almost 85% of it has come from outbound. This success has very much been driven by finding cadences that convert and by applying this winning formula.
Nazma is now showing 2 cadence sequence examples. She is explaining why sequence 1 is the top performer. Importantly, the first step of any winning cadence will be multi-step, and it will include a phone call as a part of this first step.
Then as you can see in the slide image below, the placement of video in the sequence is also key. While using video will increase engagement with your cadence, you need to look at where you place it. Video should come further down the sequence and using it at the start of a cadence is unscalable and won’t have the same impact on engagement rates.
*Sequence 1 is the winning cadence structure here
Moving onto the final number in the formula: 17.
17 represents the number of steps you need to create in a winning cadence.
It may sound like a lot. But it reflects the following facts:
Moving onto the next key figure in the formula - 25.
25% represents the percentage increase in conversions you can expect to see when you use video in your cadence.
When you think about your buyers being millennials, it makes a lot of sense that video should play a key role in the way that you engage with your prospects today.