Category: Enterprise Sales

What are Targeted B2B Introductions from Swarmsales?

What are Targeted B2B Introductions from Swarmsales?

The Problem

Companies of all sizes need to break into accounts. Tenured Enterprise Sales Professionals have developed dozens of trusted relationships. These relationships might be active, or dormant if the sales professional no longer covers those accounts.

The Solution

On Swarmsales, companies create sales campaigns in which they indicate the solutions to sell, target accounts they wish to break into and compensation for the sales pro upon completing a successful targeted intro to a decision maker.

How much does it cost?

Typically companies will pay the sales pro a small retainer in the range of $500/mo for them to invest 5-8 hours sending out emails, making phone calls and getting intro meetings scheduled. An intro consists of a face to face meeting or a conference call brokered by the Swarmsales Sales pro and includes the decision maker at the target account as well as a designated executive at the vendor company to whom the opportunity will be handed off to should there be next steps.

Upon completing an intro, sales pros will collect a payment in the order of $300-500 for achieving that only milestone, and they will hand over the opportunity to the vendor company’s internal sales team or to a business partner to continue progressing the opportunity to closure. If the opportunity is won, an influencer fee in the range of $1000 to $10,000 will be paid out to the sales pro as well.

What is the ROI with Swarmsales?

Check out this spreadsheet and let us know if we need to walk you through it

How do engagements work?

By using Swarmsales, companies can invite sales professionals to broker introductions into accounts and viceversa. Sales professionals can review a vendor company’s sales campaign and could suggest an account they’d like to broker an introduction for. Companies and Sales Pros have the ability to Accept or Decline engagements based on their level of interest.

Is your company looking for targeted introductions to b2b decision makers?

Contact Us:

After all, vendor companies just need targeted b2b introductions to decision makers.

After all, vendor companies just need targeted b2b introductions to decision makers.

If you’ve been a startup founder or you’ve been part of a startup from it’s inception, you’re well aware of the fact that the product or service that gets you to Product Market Fit, delights customers and achieves the hockey stick growth effect that your VC’s invested in is most likely not the initial product you envisioned on day one.

Many have written about how to iterate to get there and there are several methodologies out there to follow which will most likely get you to that PMF (Product Market Fit) point faster. The lean startup process  “Build, Measure, Learn” is probably the most famous one out there and I highly recommend that you follow it if you’re in the pursuit to disrupt something with a software based product.

When we started Swarmsales, our thesis was that we could build a marketplace that would connect Vendor Companies and Proven Enterprise Sales Pros to break into accounts and close deals faster. We implemented a milestone based compensation system for companies to only pay sales professionals based on completing milestones (Introduction, Demo, Pilot, Win) successfully and that was a great value proposition for Companies (Demand Side of our marketplace). I won’t get into all the details about what we had to iterate on but here are some of the most important ones:

  1. Supply is King: As Andrew Chen says it well in his recent post. All of these Uber for X companies failed because they couldn’t keep their supply side engaged (in our case the Enterprise Sales Pros are our supply side) because they just couldn’t pay the bills with what they made on Swarmsales.
  2. Sales Pros needed a lot more attention, training and support than we initially envisioned and those that ended up becoming experts with products/services that they found on Swarmsales would eventually be offered a full-time position by the companies that engaged with them.
  3. Because we were suggesting that Swarmsales sales professionals could do everything in the sales process from Identification of an opportunity through Validation, Qualification and Closing the deal, this posed a huge conflict of interest with the vendor company’s internal sales force (inside sales primarily) or with their channel sellers who are the real independent sales forces for our vendor companies.
  4. We had a lot of early stage companies join Swarmsales initially and they all had products that were still not “Sales Ready” and they were themselves trying to co-build their solutions with the enterprise to become relevant. Many of our independent sales people complained that they found out a few weeks or months into the sales process that the vendor company’s solution wasn’t really ready for prime time and they had invested a lot of time to ultimately loose the deal to a more mature player.

These 4 findings led us to come up with a better way for Swarmsales to be of value to both vendor companies and sales pros, and here is what we are now suggesting as the best course of action:

 

  1. Sales Pros need to pay their bills just like everyone else and if you want to tap into their rolodex, you should pay for the time it takes them to get you those discovery calls/intros to decision makers. We’re suggesting that companies can pay a sales pro $500-$1000/mo and ask them for 5-15 hours of their time to draft emails, send email and text messages to get you those great intro calls your company needs.
  2. This is a platform and not a marketplace. You’ll have to assign someone to run the “B2B Targeted Introductions” effort in the same way you assign someone to run your “marketing automation” efforts with hubspot. If you just turn Swarmsales on and wait for sales pros to engage with you and get deals done for you, it just won’t happen. Ideally you’ll want to arm our Sales Pros with the basic info for them to have an intelligent 15 min conversation about the business problems or use cases your company can solve for and use that to get you in front of their rolodex at your target accounts.
  3. Just use the Swarmsales Sales Pro for a “Highly Qualified Introduction” and have them hand over the opportunity to your internal sales specialists or use these opportunities to build pipeline for your business partners such as Resellers or ISV’s and have them do all the rest. Our Swarmsales Sales Pros should collect a nice payment for that qualified intro ($350 to $600 seems right) plus an influencer bonus when your sales team or channel seller wins a deal. We expect this bonus to vary anywhere between $2,000 to $10,000 per closed deal.
  4. Our goal for 2018 and beyond is to bring in more companies like DropBox, SungardAS and Globant who are already customers and all joined Swarmsales for the “B2B Targeted Introductions”

If your company has a Sales Ready Product and you’re looking to break into new accounts while lowering your cost of sales, feel free to drop us an email at info@swarmsales.com or start here.

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Army Lessons Applied to Sales

Army Lessons Applied to Sales

As a new writer for this blog, I’ll begin my first post by introducing myself. My name is Sergio Areiza, I’m 26 years old, and I recently started working in Business Development with Swarmsales. I’m, also, a recently transitioned military officer and Swarmsales is my first job in Business. At the age of 17, I joined the Colombian Army, so I never learned much about this business until now. Still, this new chapter of my life has been exciting and challenging at the same time. I’m frequently asking myself: How do I approach leads? How do I generate them? It didn’t take me long to realize that there are many similarities between my current job and my old one. This reminds me of some army lessons I learned as a Lieutenant.

Lessons #1: Methodologies, the SOPs of Business

I served as the 2nd in command of a company of 144 newly recruited soldiers. I’m talking about 17-19-year-old kids, just out of high school going into their mandatory service time. I was in charge of planning everything for these soldiers, from their training schedules to their meal plans. Thankfully, I had a good team of Drill Sergeants assigned to my unit and they brought me up to speed quickly. Out of all the lessons, I was taught, the lesson that made my life the easiest was organizing my processes into what we called SOPs (Standard Operational Procedures).

What did this mean? It meant that we, as leaders, had a standard plan for any possible situation. Someone got hurt? We had a plan; A soldier lost a piece of equipment? We had a plan for that too. Basically, we brainstormed what might happen in day to day life and prepared our solutions ahead of time. Through our company’s SOPs, we created a framework and an order of business for our day to day life. Today, I learned that this Army mentality is very useful for how we do sales, so I started to look into it. Sales methodologies exist, like MEDDIC and SPIN, that are very organized approaches to sales.

Lessons #2: Don’t Shoot in the Dark

There’s saying in the army: By failing to plan, you are planning to fail; There’s another saying too: No plan survives the first point of contact. It sounds counter-intuitive, but we still have to learn to work with it. The first saying, I learned, was the absolute truth. If you went into anything without a plan, it was more than likely going to go all wrong. I draw parallels to sales because in my learning process, I have seen some salespeople who approach business in a very fluid manner. This isn’t a bad thing, on the contrary, being fluid and adaptive is definitely a must in this world.  It is, however, useful to have some sort of structure to our approach. This structure lets us organize our thoughts and actions, which in turn, makes for a smoother process when generating and following up leads.

Lessons #3: Always Carry a Backup

The second saying, I learned, is only true if you are very lucky. A plan going perfectly in the first run is like seeing a shooting star, very unlikely but it might happen. Planning is a good thing but also the fact that plans tend to not always work isn’t meant to be a contradiction. It means that in order to make up for this fact, we need to plan a little more, not ditch planning altogether.

If you have some sort of structure set up and you feel confident about it, grab that plan and save it for later. Break out a new piece of paper and plan everything again from scratch, except this time, do it completely differently. These plans are called alternates, and they’re there for exactly that; Whenever the primary plan doesn’t work, just jump over to the alternate. This applies to sales because having alternate plans is fundamental to any planning process, no matter if you’re in the Army or in the business world, it still applies.

Things to Think About

The purpose of this post is to share some lessons I learned in my time with the Army and how they apply to my current job with Swarmsales. This doesn’t mean that they’re laws and absolutes.

It’s good to have a structure and to have a method but if there’s a solid opportunity that needs immediate action, jump on it, there’s no reason not to. Second, planning is important but it shouldn’t take so much time that you’re greatly limiting your time for other parts of your job. Also, create and follow your plan but also stay on your toes, don’t lose that flexibility that we all need in this world. Finally, create different plans for different solutions and keep working at it, but if it isn’t working no matter how many attempts you throw at it, move on. Again, time is valuable so don’t spend too much of it in one approach.

If you want to learn more about Swarmsales and what we do, you can visit us here.

 

Swarmsales Now Allows You To Monetize Your Linkedin Network.

Swarmsales Now Allows You To Monetize Your Linkedin Network.

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What if I told you the era of Return on Relationships is finally here? Every day we help freelance enterprise sales professionals realize the ability they possess in being able to unlock their own network and increase their own net worth.

However, until recently, we were working to identify these relationships manually. How? By asking sales professionals to input their own data and to identify which accounts they would like to engage the companies on Swarmsales in to.

Well, that changed yesterday. And it moved the needle drastically in our ability to predict, intelligently, which one of your Linkedin relationships is highly monetizable.

“This is what I always imagined Linkedin’s Sales Navigator to do.”

 

Here is how it works:

  1. Sign up for Swarmsales as a sales professional.
  2. Simply go into your Linkedin Account and extract your archive file (takes 24 hours to get it via email from Linkedin.)
  3. Upload the .zip file into Swarmsales
  4. Our AI algorithms will process your data and allow you to select the most relevant connections, work history, and endorsements.
  5. Companies start matching you and inviting you to submit opportunities.
  6. Start getting paid!

This entire process will take you less than 5 mins to complete. (Please note you must have your archive file prior to initiating this process).

We recently showed to various sales leaders and investors this feature; and as a result, they commented: “WHOA, this is what I always imagined Linkedin’s Sales Navigator to be” said John Faxio, Sales Professional on Swarmsales. “Now I know what my network is worth!” said Karl Woolfenden.

This feature will be widely available in all Swarmsales Sales Professionals profiles by end of June 2018.

Want to see it action? Check it out below.

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Sales Reps and their Future Roles

Sales Reps and their Future Roles

Since the industrial revolution, the world has constantly improved due to technological advances in the different fields. Technology has changed the way in which many jobs are carried out and sales reps were also affected. The rise of technological tools like email and social media has made the traditional form of selling obsolete. With so many tools, sellers do not need to invest their time in going to meetings to sell a product. Now with social media, they can make a list of potential clients and reach out to them. Even though technology has clearly impacted on the way sales are carried out, it doesn’t mean that salespeople will be jobless.

Nowadays, people choose to buy (or not) a product by the reviews posted online about said product. Prospects are doing online research about the varieties of products that exist in the market. They are researching the products they believe will satisfy their needs. If the product has good comments and reviews it is very likely that the prospect will purchase it. “The process where the salesperson used an aggressive pitch with the buyer doesn’t exist anymore” (Sales Hacker, 2018). If prospects don’t want a sales rep that is aggressive and on top of that are doing all the research by themselves, then where does the salesperson fit in?

The new role of sales reps

It’s clear that roles have changed. Since buyers trust reviews and likes on web pages more than a salesperson in a store, sellers transformed into some sort of advisors. Sales Hacker (2018) points out that the role of the salesperson now is to establish a relationship with the prospect, understand what the prospects’ needs are, what are the challenges that it’s facing at the moment and based on that information, explain to the prospect if the chosen product is the most accurate to satisfy its needs or to solve its problem. It is essential that the salesperson becomes an ally to the prospect. The sales reps need to listen to the client and help him find a solution to the challenges that arise in its business.

It doesn’t matter how technological our world becomes, a salesperson will always be necessary because “humans will always need emotional and rational help” (Steli Efti – founder and CEO of close.io) and that’s the kind of help that only humans can give. Technology will continue to change sales reps’ job. However, technology can’t build a meaningful and trustworthy relationship with a prospect. Only humans can do that. Sales reps must forget the old way of selling and shall start listening to what clients are expressing. It is key that sales reps begin to understand their clients if they want to stay in the business. As Simon Sinek said, “if you don’t understand people, you don’t understand business”.

Coming out of college and ever thought about becoming a freelancer? Try Enterprise Sales!

Going into sales is not always extremely appealing to millennials that are finishing up their undergraduate careers. Millennials fear that they will get bored of selling the same product over and over again, and going after people in efforts to convince them to buy products/services that the customers don’t need. However, millennials have not taken into consideration or learned about the opportunities of freelancing. Freelancers are self-employed and are not committed to particular employers in the long-term. Instead, freelancers get a chance to work multiple jobs, and they get to choose the companies and projects they work in.

Today, the market for jobs is constantly changing. In fact, over 54% of the U.S. workforce lacks confidence that their jobs will exist in the next 20 years (Edelman Intelligence, 2017). However, freelancers have an advantage. Over 65% of freelancers work to update their skills and keep up with the market changes. In comparison, only 45% of full-time employees do the same. (Edelman Intelligence, 2017).

For this reason, going into sales and freelancing should be extremely appealing to many millennials that are finishing up their undergraduate careers. An even better career as someone coming out of college is going into freelancing within enterprise sales.

Enterprise sales are very different from product/service sales. In product sales, one is selling the same product on an ongoing basis. On the other hand, enterprise sales sell solutions. A sales practice that is strategical and works towards facilitating other enterprises’ problems and everyday operations.

Here are some reasons why you should consider freelancing in enterprise sales:

1.) The ability to utilize your connections

As a student coming out of college, and most importantly as a millennial, we are connected to hundreds of people. With your connections, you can open the door and connect vendors and enterprises and allow them to build a relationship and close a deal. While using your already existing relationships, you will be opening doors for vendors and further grow your network.

2.) Exposure to different industries

Coming out of college you may be interested in sales and freelancing, but you may not know what exact industry you would like to go into. Freelancing in enterprise sales allows you to try different industries and work with multiple vendors and companies. Hence, allowing you to find what industry suits you best.

3.) Sales experience is extremely valuable

As mentioned in the first two points, working with multiple companies furthers your network and your career. With these experiences in multiple enterprises, you learn a lot about what works well in sales, the vendor and enterprise side of a deal, the industry needs, and what companies need help on. This makes you extremely valuable. It allows you to share what you learn with other companies to help them, while also showing them what you are capable of and further advancing your path in enterprise sales.

4.) Quick turnaround for your time

Companies will pay you large sums of money to open doors for them into other sectors by utilizing your already made connections for them. With this, opening the doors and closing deals for the companies usually have a short sale cycle and do not require you to stick to a specific enterprise, allowing you to manage who you work with and for you to decide your turn-around rate with enterprises.

With about half the hours of work, enterprise sales pay as well as the positions of Wall Street Bankers. As a Wall Street Banker, you will find yourself working anywhere from 80-100 hours a week (Wall Street Oasis, 2018). Alternatively, as a freelancer, your pay will be the same with only 40-60 hours per week. These shorter hours are due to the fact that you work directly with corporate clients. Whereas in other sales positions, you are only in front of customers for maybe 2 hours a day.

5.) Diversified Income

With the ability to work in different industries, and hold multiple deals at the same time, your income is diversified. Allowing you to reduce the volatility of your work.

Interested in learning more about Enterprise Sales? Fill out the form to find out about Swarmsales, how you can be a freelancer in this field, and how you can receive free sales training from Meddic and Spin Selling!

Visit our website: https://www.swarmsales.com/index.php