#437. Use Small Data to Compress Sales Cycles and Increase Conversions. With Mark Ripley.
Mark Ripley, VP of Sales for Insightly, a CRM and project management system, joins me on this episode of #Accelerate!
[:41] Mark sold retail car stereos in college, and fell in love with sales. He got an early start in technology in San Diego. He is now at Insightly, where the goal is to bring CRM to medium and small businesses around the world.
[2:06] In three years, CRMs have grown from 60 to 250, today. Insightly captures market share with its ease of use and simplicity. Insightly is the number one CRM globally for G Suite users, with almost half the market.
[4:40] The CRM market is not saturated. There are many large and small companies not using CRM. What is the big fear many companies have about CRM?
[6:23] Some of Insightly’s best features are the UI, and its integration into other extremely common tools, such as Gmail. Many Insightly activities are accessible through Gmail and Office 365. Ease of use makes adoption simple.
[8:15] Mark notes three values for SMB pain points: sales productivity; organizing all activities for a world-class red carpet customer experience; and data visibility for managing larger sales teams.
[10:33] Insightly CRM can help sales reps get a larger Return on Time (ROT). Automation manages drip campaigns and email logs. They are launching a call transcription feature this year.
[14:15] Performance and productivity vary per market and industry. Activity and skills drive productivity. If you keep effectiveness the same, increasing activity increases productivity, in theory.
[21:30] Mark sees through a customer lens and a salesperson lens. A good CRM provides pre-sale and post-sale service to grow the customer relationship through personal attention.
[25:30] Mark uses the term small data. The smart use of data should yield tangible, digestible, and actionable results in a time-compressed fashion.
[28:44] Accurate forecasting through the CRM is the next ambitious step for Insightly. CRMs will get better at putting more accurate forecasting at the fingertips of managers.
[30:50] Present forecasting methods are tied to the stage of the client along the funnel, which ignores competitors. “You can’t measure probability with a yardstick.” Mark looks at history to predict outcomes.
[33:28] Mark questions the wisdom in incenting forecasting. What problem does Mark see? It’s a very common thing to assume everyone on the team is forecasting the same way, but it is not necessarily so.