These days everyone’s scaling. From start-ups operating from a garage to established enterprises trading from glass towers, everyone’s selling 24/7 right across the globe.
But this can be a bane as well as boon. Not all companies scale successfully even though their services and products are high quality and generate demand. And even within companies some functions are scaling admirably, others less so.
Marketing is one of those business operations zipping along in the information super highway. They’re generating leads at a breathless rate. But, as Irish Data firm, Datahug, point out, the sales function, whose job it is to turn a lead into revenue, is generally struggling to keep up.
Probably more so than marketers, sales people aren’t keen on spending time on administration tasks like entering data to the CRM and logging calls, and sales managers like it even less.
The more time spent doing back office work, the less time they’re out in the real world selling and if a sales person isn’t selling they’ll find it hard justifying their job.
Automating sales admin is something that’ll excite any sales team. Anything that will free-up more precious time to talk to customers and prospect new business will get a buy-in from the sales people.
Datahug’s solution aims to do just this by task automation; providing better sales intel and offering greater accuracy in sales prediction.
The company was founded in 2009 by Irish tech entrepreneurs Connor Murphy and Ray Smith. Smith is now the CEO of Datahug and operates from the company’s corporate HQs in San Francisco. They also have an office in Dublin.
They went through a big expansion in May 2 years ago, announcing their new HQs in San Francisco, a new round of funding from salesforce.com, who joined other investors including Draper Fisher Jurvetson. They also expanded their US team. All this growth is supporting their drive into the US market.
Their data analysis solution trawls a company’s sales data in its fragmented and disparate entirety and creates sales intelligence and reporting automation that helps sales teams predict revenue forecasts with greater accuracy.
They report clients having achieved 21% increase in close rates and cutting admin tasks like data entry by 80% and best of all, spend 70% less time in review meetings.
Datahug’s aim is to provide information that’s crucial to their client’s ability to sell.
Every sales guy has any number of contacts; these are people he’s trying to sell to but has only a limited amount of time to spend on them. Datahug’s “Deal Score” gives each contact an engagement score and ranks them by how engaged they are with the sales rep.
The greater the score the greater the chances of the contact buying. Once you have this information it’s simply a matter of focusing on the high scorers.
Datahug also offers a feature that identifies profile patterns and reveals why some contacts are more engaged than others and how to increase the score for contacts who are less engaged.
This can create opportunities not only for closing more deals in the short to mid-term, but increasing revenue later on in the quarter.
The “HugRank” function lets the sales team see who the company has the strongest relationship with and it’s not limited to contacts in the CRM.
The “Intelligent Insight” tool lets the agent know who the decision makers are who need to be engaged and what to do to progress the deal.
And the platform can learn from past mistakes and pass on the newly aquired smarts to the sales guy so they can put in a better performance next time.
Datahug also say that they’ll make deal review meetings a thing of the past:the software can take a pulse check on all live deals and can automate a review on each one.
It can also pull intel directly from electronic communication in the company’s servers and reduce the scope of human error by manual data entry.
Apart from revenue and margin just about all sales’ KPIs are based on pre-sales activity, which is communication with customers and contacts.
One of Datahug’s objectives is to offer analysis of this activity using the “Communication Overview tools“.
They allow the user to see how much communication was outgoing and incoming, which lets their manager know where greater effort has to go.
This includes all communication to and from the company with the customer, which is crucial for account managers, who are primarily relationship managers. They can track post-sale support and remedy any failings in the relationship.
The sales function needs number crunching in the background to support the sales reps out there selling in the market.
But the deals closed the sales come from the high quality communication and relationship building they do during the working day. Datahug is a tool that promises greater automation freeing up more sales hours to do just that.