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Why More Leads Can Put Startups Out of Business | Sean Cahill

Why More Leads Can Put Startups Out of Business | Sean Cahill

FromThe Scale Up Show


Why More Leads Can Put Startups Out of Business | Sean Cahill

FromThe Scale Up Show

ratings:
Length:
31 minutes
Released:
Oct 20, 2021
Format:
Podcast episode

Description

Grab your Free Copy of “The 4 Biggest Mistakes That Stop Companies From 10X’ing Their Revenue” at https://www.scalerevenue.io/10xSean Cahill started his career in sales, so it’s only natural that he absolutely hated marketing. To Sean, marketing was the group that gave them garbage leads that they couldn’t sell.Eventually, he landed a job at Cisco that caused him to fall in love with marketing. From that experience, he developed a thirst for working with startups, where he started working in funnel generation for startups. This led to him starting his own company and developing a pipeline for startups and working to get them into a Series B.Today, Sean works at Unify Marketing as the National Practice Leader for Marketing. He still loves working with startups!To grow pipeline, Sean stays focused on these 3 main areas:PeopleProcessesTechnologySean realized early on in his startup phase that one of the biggest issues in the startup world is that when startups get a Series A , and they develop an MVP to take to market, and then they focus on the Series B.Typically, it takes the startup getting $1M in MRR in order to get a Series B, and founders realize the only way they can close that many sales and generate that much revenue, they have to get more leads.So they work to buy more leads, which then throws off their close rates and then they try to shorten their sales cycles and every time they try to pull another level to make up the slack, it just completely puts the entire process in chaos.Startups don’t need more leads. They need better leads.They need the leads that are the most likely to close within 30 days.They need the leads that are going to generate the highest ACV.So how can a startup go about getting all of these ideal leads for the goals they need to accomplish?This is what Sean would call the Perfect Customer Profile.To begin developing this, you could:Go into your CRM and identify everyone that has bought from you.Begin to identify commonalities among those buyers.Take those commonalities and set it against your entire database and start tracking who else has those commonalities.Begin to understand what features you can identify in prospects that could be able to trigger a sale.Then focus all of your sales efforts on that data set that is most likely to become a buyer.This whole process is called building a Propensity Model.The whole idea is that instead of focusing on more leads, you are only focusing on the better leads, so narrow your database down to 1000 of your best leads.Sean suggests targeting these better leads on a smaller level. These leads do not get the spray and pray marketing that gets blasted to the rest of the world.Nurturing these leads comes in many forms, but Sean has had the most success with the following methods:EmailPhone CallsSocial MediaVideo from a tool like Video CardSend a specific and targeted physical giftIf whoever you want to target could have a $30K ACV, then it’s ok to spend $1K targeting them.Using this method, Sean was able to get MRR from $10K to $30K and increased close rates to 50%.Because everyone is inundated with more touch points and communications points than ever, the people who end up closing business are the people who end up being creative and thinking further outside the box.The best part about this whole concept of Propensity Modeling and then following up with your 1000 best leads can be set up with automation using tools like Salesforce and integrated tools.Being able to do this in a very personalized way at scale is the magic that can truly change your trajectory.When it’s all said and done, you’ve basically automated your entire SDR process, and then you’d have your ADR or BDR just sort of co-pilot the lead through the entire process.When you follow this process, your conversion rates will go through the roof because you are targeting better, you are following up in a more effective way, which means you will close more sales!The biggest mistakes that companies ma
Released:
Oct 20, 2021
Format:
Podcast episode

Titles in the series (100)

How do you grow like a VC-backed SAAS company without taking on investors? What are the secrets that SAAS CEOs have that the rest of us don't? Do you want to create a lifestyle business, a performance business, or an empire?  How do you scale to an exit without losing your freedom? Join the host Ryan Staley every Monday and Wednesday for conversations with the brightest and best SAAS Founders, CEOs, and Entrepreneurs to crack the code on repeatable revenue growth, leadership, lifestyle freedom and mindset. This show has featured Startup and Billion Dollar Founders, Best Selling Authors, and the World’s Top Sales and Marketing Experts like Terry Jones (Founder of Travelocity and Chairman of Kayak), Gina Bianchini (Founder of Mighty Networks and prior Co-Founder with Marc Andreessen) and Harpaul Sambhi (Founder of Magical with a previous exit to Linkedin). This is where Scaling and Sales are made simple in 25 minutes or less. Saas, Saas growth, Scale, Business Growth, B2b Saas, Saas Sales, Enterprise Saas, Sales, Business growth strategy, Founder, VP of Sales, CRO, Chief Revenue Officer, Technology, Leadership, CEO, Management, Hyper-Growth.