Sales Funnel for Lean Startup Seattle by Andy Chen (AARRR)
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Managing the Sales Funnel is critical for startups. Andy Chen took the Lean Startup Seattle folks through a tour of the Sales Funnel Basics, Starting with the AARRR Metrics for Pirates and walking through the details of managing the sales funnel and the sales team.
![SALES BLACK
• In first dotcom boom, it was the Idea (Yahoo!)
• In late 2000’s, it was Users (Facebook)
• Now, it’s Sales (and growth of sales)!
“The series A valuation picture, according to [big VC],
goes something like this based on month revenue rate
(MRR):
$40-$70K MRR translates to a $7M-$14M pre-money
valuation
$100K+ MRR translates to a $15-$20M pre-money
valuation”
2
is
the
new](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Sales Funnel for Lean Startup Seattle by Andy Chen (AARRR)
- 1. Lean Startup - Building an Enterprise SaaS Sales Engine May 5, 2014 Andy Chen andy@cryingbox.co m 1
- 2. SALES BLACK • In first dotcom boom, it was the Idea (Yahoo!) • In late 2000’s, it was Users (Facebook) • Now, it’s Sales (and growth of sales)! “The series A valuation picture, according to [big VC], goes something like this based on month revenue rate (MRR): $40-$70K MRR translates to a $7M-$14M pre-money valuation $100K+ MRR translates to a $15-$20M pre-money valuation” 2 is the new
- 3. What is a Sales Process? 3http://500hats.typepad.com/500blogs/2007/09/startup-metrics.html
- 4. Process is different based on your product/strategy • B2B vs. B2C • Enterprise vs. SMB • Early stage vs. Early growth vs. Scaling • Velocity deals vs. Elephant hunting 4
- 5. What we think Sales does 5
- 6. What Sales really is 6
- 7. Marketing Engine Overview Integrated Marketing Engine Campaign/Scoring Leads Lead Qualification Drip/Nurturing Pipeline Management http://www.g2crowd.com/categories/marketing-automation/compare Qualified Opportunities 7
- 8. Marketing’s goal is to create Qualified Leads/Oppty Leads Leads can be Implicit or Explicit Scores over 125 Go to top priority and guarantee a call w/in 24 hrs 8 CMO CRO
- 10. Sales’ goal is to create quantifiable deal- movement SalesMarketing 10
- 11. Use a Sales Methodology to create consistency 11
- 12. Sales Comp Structure • Enterprise rep = $7-$10k new MRR/month • Mid-market rep = $4-$8k new MRR/month #Reps Base/Var iable Target Equity MRR Notes Early Stage 1-2 75/25 Same as early employee <$25k Company-wide goal focus. Significant product co-creation Early Growth 2-5 50/50 Sliding Scale $25- $100k Individual quota. Sell what you have Scaling 5+ 35/65 Low equity >$100k Individual quota. Specialized 12
- 13. Other Sales Tips • Hire slow, Fire fast • Evaluate in weeks/months, not quarters • Don’t accept excuses from your reps • Sell what you have. Everyone blames marketing/product/service • Sales will “respect what you inspect” • Beyond closed sales, pipeline integrity is critical to maintain. Managers are responsible for Inspecting the data in Salesforce (or other CRM) • Hire for the process, not the person • Don’t buy the rolodex (unless you have to). I choose a rep that fits my process every time vs. someone with a rolodex. 13
- 14. Summary • MRR (Monthly Recurring Revenue) • Marketing Automation (CRO, not CMO) • Lead Scoring (Implicit/Explicit scoring) • Sales Playbook (1-liner, competitive zingers, etc) • Sales Automation (Pipeline, forecasting) • Sales Methodology (MEDDIC) • Sales Compensation 14
- 16. About Me • Co-founder Fogdog Sports, B2C E-commerce site, IPO 1999 • VP Product GSI Commerce, B2B E-commerce platform, $2.4B acquisition by ebay in 2011 • Head of Product, Yahoo! Shopping. B2C Marketing/lead-gen site • Co-founder PowerReviews, B2B Enterprise SaaS Solution, acquired in 2012 for $168M 16