Business

How Venture-Backed SaaS Startups Fuel Sales Growth

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This sponsored post is produced by Mick Hollison, CMO, InsideSales.com

There has been a lot of talk recently about accelerating sales through technology. In fact, hundreds of millions of investment dollars are flowing into companies making up the growing sales acceleration category.

This is all fine and dandy, but as a business leader, you want to know how all of this hype in SaaS-based predictive analytics and sales tools is translating into increased revenue. Here too, the proof is flowing in as companies using SaaS technology to accelerate sales are experiencing dramatic revenue increases.

DoubleDutch, a provider of mobile event apps, has indicated they have experienced a 200 percent increase in annual revenue since adopting SaaS-based sales acceleration technology provided by our company, InsideSales.com.

“It has had a phenomenal impact on our business,” said Russ Hearl, DoubleDutch vice president of worldwide sales development. “We’re having more conversations, more demos are being booked, more opportunities are being created, and we’re closing more deals.”

Sales Acceleration Technology Growing as a Category

Companies are spending billions of dollars in North America on sales acceleration technology designed to help salespeople contact leads, qualify prospects and close deals faster than ever before.

Based on data coming in from thousands of companies, businesses that implement sales acceleration tools can expect to:

  • Increase revenue – anywhere from 37 percent to 200 percent in moderately short amounts of time.
  • Boost contact rates – anywhere from 2X to 10X. Companies such as Act-On have reported a 2X boost in contact rates after the first day of implementation.
  • Improve close rates: up to 34 percent. Citrix research indicates that video conferencing increases sales close rates by 34 percent.
  • Expand deal sizes: CallidusCloud reports that companies that use technology for such functions as sales coaching and compensation achieve 181 percent larger average deal sizes.

Shift to Inside Sales Driving Need for SaaS Technology

According to Mike Moorman, senior leader in ZS Associates’ B2B sales and marketing practice, “B2B companies have been ramping up their inside sales investment.”

For example, “Astra Zeneca has replaced virtually all of its field sales force support for its mature brand Nexium with a 300-person inside sales team,” Moorman reports on the Harvard Business Review blog.

As high-growth companies build large inside sales teams, it is only natural for them to look to technology to help make the overall sales process as efficient and profitable as possible.

We are definitely at a crossroads. The new SaaS-based, technology-driven inside sales model is quickly becoming the standard way to conduct sales and marketing. It is a place where science and data work together to accelerate sales – and ultimately increase revenue – for businesses of all types and sizes.

Predictive analytics can enable marketers to target the best possible prospects with the most compelling offers with surgical accuracy. It lets salespeople know how and when to communicate with those prospects based on systems that leverage every imaginable variable that affects a customer’s decision to buy.

A lot more research needs to be done and it will, but it is quickly becoming apparent that venture-backed SaaS companies are fueling the new wave of sales for the 21st century and beyond.


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