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5 Ways Smart Sales Managers Optimize 1:1 Coaching Time

QstreamIn a perfect world, sales managers would spend quality time coaching their teams. The challenge is that sales managers are always pressed for time, so they need to be continually armed with specific feedback on how individual reps can improve their skills and win rates. While the needs of reps will vary from session to session, and potentially quarter to quarter, there are some consistent things effective sales managers do again and again to derive the most impact from their coaching time.

They understand the specific sales competencies and behaviors necessary for their reps to be successful.

Just as no two salespeople are alike, the same can be said for no two sales positions. Regardless of whether your rep is a new hire in his first sales role or a more experienced professional who has been selling for a dozen years, there are dynamics that are unique to each industry, business segment and product or service offering. Understanding these dynamics, and the specific competencies required to successfully navigate them is critical to effective coaching. You don’t simply want your reps to be better sales people, you want them to be more effective at selling your products and services.

They understand the unique skills and knowledge gaps of each of their team members.

Generic selling tips or techniques might work for some, but smart sales managers understand that each of their reps is individuals with specific strengths and weaknesses. Steve might be a terrific prospector with a strong early pipeline, but require additional help with negotiation and closing to consistently hit his quota. In contrast, Christine might possess a strong complement of selling skills, but lacks the market or technical knowledge to successfully win over customers.

By focusing their valuable coaching time on the individual needs of each rep, supported by real-time performance data and analytics from solutions, sales managers can maximize their coaching impact and help each rep progress along their own personal development path.

They understand the underlying motivators of each individual seller and take action to maximize them.

Some sales leaders believe that a quota and a compensation plan are enough to motivate sellers to perform. Yet, research has proven that for many sales people, it’s a little more complicated. People are motivated by any number of factors (not always money), and it’s the sales coach’s job to determine what that is from seller to seller.

SiriusDecisions released a report on what high-performing sales reps really want, and the results might surprise you:

  • 93% of high performers said meaningful work was more important than compensation
  • 82% of Millennials ranked access to leadership, meaningful work and company vision as equal to targeted earnings in importance
  • 70% of high performers see coaching and collaboration as very important to their job performance

They ask a lot of questions. 

One of the biggest mistakes sales managers (well, really any manager) can make is believing they personally have all the answers. When a sales manager treats a coaching session as a “let me tell you” conversation, they miss the opportunity to help their reps develop a strong sense of self-awareness and independence.

Asking good questions – whether it’s about a specific deal you’re trying to close this quarter or a common business scenario your team is facing in the field – forces your reps to think critically about their own behavior and focus on the quality of their execution.

Asking good questions drives deeper engagement, and allows your reps to be an equal partner in their own growth and development.

They consistently document the actions and follow-up steps required for each coaching conversation and hold their reps accountable.

The best coaching session in the world will be wasted if your reps don’t understand the expectations for follow-through, and if you, as their manager, don’t hold them accountable for progress and change. This can be as simple as a bulleted email that documents your agreed upon steps and can be reviewed during your next meeting together. The secret is to capture the notes quickly and accurately and then set the expectations for follow-through and reporting.

One of the simplest ways to hold your reps accountable?

Don’t leave a specific coaching session before setting up the next one, or just set a regular cadence with each rep, perhaps once every few weeks, and schedule them ahead for the whole year. This helps make coaching a habit for both managers and reps and delivers a message about its importance to the organization.

Any time a sales manager meets with his or her rep, they should be helping their sellers maintain high levels of focus, energy and enthusiasm to perform.

Sales managers must rise to the challenge of building up their team from the inside out, rep by rep. This can be achieved by tapping into both the intrinsic and extrinsic motivators for the individuals on their team. A customized approach to coaching time with individual reps allows sales managers to equip every single rep with the skills and knowledge they need to reach their unique goals and improve win rates for the whole team.

Allego Survey Uncovers Best Practices for Sales Rep Competency

High-performing sales teams rely on peer coaching, one-on-one mentoring, and more frequent assessment to achieve success, according to data

Allego, the sales learning and coaching platform, announced the results of its survey on how sales leaders assess sales rep competency and popular strategies for effectively hiring and training sales reps. The study’s findings, which are summarized in the e-book “The Ultimate Guide to Assessing Sales Rep Competency” and in an infographic, reveal that ride-alongs (68%), activity tracking (61%), and peer feedback (46%) are the most common means of assessing sales rep competency.

Additionally, the survey found that high-performing* sales teams not only value different skills and training practices than lower-performing teams but that they also asses sales rep competency more frequently than sales organizations that struggle to meet their numbers.

“One of the results that stands out is that sales leaders who achieve the fastest ramp time put more emphasis on manager interaction and peer mentoring to develop reps”

 

Top-Performing Companies Had a Different View of the Most Important Sales Skills to Asses

Andrew Hally
Andrew Hally

“One of the results that stand out is that sales leaders who achieve the fastest ramp time put more emphasis on manager interaction and peer mentoring to develop reps,” said Andrew Hally, CMO of Allego.

Andrew added, “Having an ongoing focus on coaching and mentorship supports our belief that sales training isn’t a one and done activity. To truly achieve success, top performing teams must continuously coach and assess their reps’ skills to ensure that each and every salesperson is as prepared as possible when they pick up the phone or walk into a customer meeting.”

Read More: Great Sales Intelligence Encompasses Fit, Intent, and Opportunity for Faster Revenue Growth

The survey also looked at eight sales competencies and found the three most commonly assessed by managers were: the ability to close (70 percent), the ability to prospect new opportunities (69 percent), and the ability to retain existing clients (59 percent).

  • Top-performing companies had a different view of the most important sales skills to assess, with 80 percent citing sales messaging – the ability to pitch their solution and its value – as the most important skill, versus only 53 percent for other teams.
  • The top-performing companies assess more competencies overall, including communication skills, pproblem-solvingskills, and customer feedback, than their lower-performing peers.
  • When it comes to how often organizations asses their reps’ skills, the survey found that 85 percent of high-performing teams assess their reps at least monthly, while only 70 percent of the general population does the same.
  • When faced with sales rep competency gaps, high-performing teams were three times more likely to increase training rather than use a Performance Improvement Plan, the most popular choice among their lower-performing peers.

The results also suggest that more comprehensive and frequent sales rep assessment will be a growing trend, as more than half of respondents believe that they should expand their capabilities in this area.

Read More: Millennials are a Powerful Buying Force in Every B2B Sales Equation

Ramp Time Varies by Industry

Across the industries surveyed, only about half of respondents (54 percent) stated that they fully ramp new hires in less than six months. 82% of life sciences sales teams fully ramp their reps in six months, compared to only 32 percent of high tech companies.

Not surprisingly, the survey found that rep ramp time is tied closely to product complexity – the more complex the product, the longer the ramp time. Additionally, companies with complex products reduce ramp time by 20 percent by hiring reps with previous industry knowledge.

Read More: Sales-Marketing Partnership Critical to Drive Revenue Growth for Businesses

Sigma Systems Appoints Vice President of Channels and Partners

Sigma Systems, the global leader in catalog-driven software, has announced the appointment of Marc Hayden as Vice President of Global Channels and Partners.

Marc joins Sigma from gen-E, a strategic partner to large Enterprises and Communications Services Providers in North America. In his role, Marc successfully led the company to over 300% growth in revenue and a successful sale of the company. He has held senior-level positions in Operations, Product Management, Sales and Marketing with CSG Invotas, CHR solutions and Redknee Solutions in a 23-year career in the technology and communications industry.

In his new role, Marc will be spearheading Sigma’s global channels and partners program focusing on fostering strategic partner relationships and driving new business across Sigma’s global footprint.

Simon Muderack
Simon Muderack

Simon Muderack, Executive Vice President and Chief Commercial Officer at Sigma Systems commented, “Sigma’s business continues to expand globally, with continued support for companies whose mission is to rapidly introduce new innovative services to the market. Marc has extensive experience in the communications industry and is well positioned to support our existing customer base, drive new channel and partner business, and propel us forward. I am delighted to welcome Marc to the Sigma team.”

Marc Hayden
Marc Hayden

Marc Hayden added, “My career has been focused on closing business with fortune 100 enterprises and large communications service providers and developing strong and high-level partnerships with global consulting and systems integration firms. Sigma has an excellent reputation with its award-winning create-sell-deliver software portfolio, which is facilitating the digital journey for communication service providers, Smart Cities, IoT companies and high-tech enterprises. For these companies, getting the next product or next business innovation launched is paramount to successfully driving top-line growth. I’m very excited to join Sigma and help the company continue its strong growth trajectory.”

TeamViewer Integrates with Microsoft Dynamics 365

Sales and Support Agents Can Now Remotely Access Customer Devices to Accelerate Sales and Improve Customer Experiences

TeamViewer, a leading global software provider for IoT, connectivity, monitoring, support and team collaboration, announced that its remote control functionality can be easily embedded within the Microsoft Dynamics 365 platform.

TeamViewer remote control functionality can now be easily embedded within the Microsoft Dynamics 365 platform.

Alfredo Patron
Alfredo Patron

“We continue to look into ways to leverage Microsoft technologies and innovate together,” says Alfredo Patron, VP of Business Development at TeamViewer.

Alfredo added, “Microsoft Dynamics 365 users can now have secure remote access to customer and prospect devices to better help them with all types of issues regardless if they are at their office or on the road anywhere in the world. All types of organizations can use remote assistance to accelerate their sales cycles and improve overall customer experience.”

Key features and benefits include —

  • Easy one-time setup by Dynamics administrator
  • Remote sessions can be initiated at any time from within several Dynamics pages
  • One agent can support many customer interactions simultaneously with the smart notifications feature
  • Fast problem resolution improves the customer experience
  • Immediate remote assistance accelerates sales cycles
  • Advanced reporting and dashboard capabilities allow an operation manager to audit and measure improvements of lead conversion and issue resolution with TeamViewer

While all Dynamics users will be able to leverage this new integration, support and sales agents are likely to benefit most, as they often need to access customer devices to more quickly identify and resolve customer issues. Now, customer service, sales, and pre-sales reps can initiate secure remote sessions with the most relevant context during customer interactions from within Microsoft Dynamics Contacts, Accounts, Cases, Leads and Opportunities screens.

With one click, customers are notified of a remote session request, which can be accepted immediately, or queued for later problem resolution. Additionally, the line of business managers and administrators can document and create a variety of reports and dashboards to understand how TeamViewer remote sessions are used – from the length of sessions and number of cases to how prospects are contacted and assisted more quickly.

Cecilia Flombaum
Cecilia Flombaum

“Through Microsoft AppSource, customers around the world can easily find, buy, and deploy partner solutions they can trust, all certified and optimized to run on Dynamics 365,” said Cecilia Flombaum, Director, Strategy and Planning for Microsoft Dynamics 365 at Microsoft Corp.

Cecilia added, “We’re happy to welcome TeamViewer to the growing AppSource Marketplace ecosystem.”

TeamViewer integration for Dynamics 365 can be downloaded from Microsoft AppSource. Moreover, TeamViewer integration is also available for Microsoft Dynamics CRM versions 2013/2015/2016 both Online and on-premise deployments. Customers can contact TeamViewer directly for more information and access to these versions.

TeamViewer is also integrated with Microsoft Intune, the remote mobile device, application and PC management platform. End users or administrators can initiate remote support sessions from within Intune on any device.

B2B Companies in Washington, D.C. With Best Client Reviews Announced by Clutch

Research firm Clutch released its annual ranking of B2B services companies in Washington, D.C. to help buyers find the best-fit company for their next big project.

In a recent report, Clutch named the top-performing marketing, design, development, and IT companies in Washington, D.C. Rankings are determined by each company’s client reviews, work quality, services offered, and market presence.

Top Advertising and Marketing Agencies in Washington, D.C.

Top development companies in Washington, DC in 2018
Top development companies in Washington, DC in 2018

SEO: WebMechanix, Foster Web Marketing, Mindgrub, Cogo Interactive, Knucklepuck, Interactive Strategies, Blue Water, R2integrated, Dreamscape Marketing, The Berndt Group, Magnero Digital Marketing Agency, Imagine, New North, Bluetext, Adventure Web Interactive

Public Relations: Pinkston Group Inc., Racepoint Global, Sensis, Bluetext, Strategies 360

Advertising: Sensis, GKV, Foster Web Marketing, Brand+Aid, Kapowza, ONeil Interactive, Strategies 360, Exit10, ds+f / Don Schaaf & Friends Inc., Cohere

Social Media: PBJ Marketing, Interactive, Borenstein Group Inc., The Brick Factory, Racepoint Global, Imagine, Yes& Marketing Agency, Old City Interactive, Magnero Digital Marketing Agency, obo. Agency, Strategies 360, Dreamscape Marketing

Leading digital marketing agencies in Washington, DC in 2018
Leading digital marketing agencies in Washington, DC in 2018

Digital Marketing: PBJ Marketing, Cogo Interactive, Magnero Digital Marketing Agency, Foster Web Marketing, R2integrated, WebMechanix, New North, Imagine, The Brick Factory, Borenstein Group Inc., Knucklepuck, Whittington Consulting, RELEVANCE, Blue Water, obo. Agency

Digital Strategy: Viget, agencyQ, nclud, Cogo Interactive, The Brick Factory, Centretek, Blue Water, Alliance Interactive, PBJ Marketing, Borenstein Group Inc., Interactive Strategies, Imagine, Boldr Strategic Consulting, NJI Media, Foster Web Marketing

Full-Service Digital: Blue Water, Foster Web Marketing, Imagine, Borenstein Group Inc., Cogo Interactive, R2integrated, WebMechanix, Interactive Strategies, New North, Yes& Marketing Agency, The Brick Factory, Bluetext, Xtreme Websites, Mindgrub, BlueTreeDigital

Inbound Marketing: WebMechanixPBJ MarketingCogo InteractiveThe Brick FactoryFoster Web MarketingBlue WaterImagineBorenstein Group Inc., RELEVANCEInteractive StrategiesBlueTreeDigitalOld City InteractiveBluetextAlliance Interactive, iTec Web Solutions

Naming: BluetextncludJake GroupSensisBates CreativeTeal Mediads+f / Don Schaaf & Friends Inc., Sutter GroupForum One, Illustria80PortBlueTreeDigital

PPC: WebMechanix, Mindgrub, Blue Water, Interactive Strategies, Foster Web Marketing, PBJ Marketing, Magnero Digital Marketing Agency, Dreamscape Marketing, Knucklepuck, BlueTreeDigital, Strategies 360

Content Marketing: Racepoint Global, RELEVANCE, Brand+Aid, Knucklepuck, Foster Web Marketing, Borenstein Group Inc., The Brick Factory, obo. Agency, Bluetext, Magnero Digital Marketing Agency, iTec Web Solutions, Benevolent Tech

Branding: DMI (Digital Management, Inc.), Borenstein Group Inc., LAI Video, nclud, Jake Group, Brand+Aid, Bluetext, Bates Creative, Teal Media, Imagine, NJI Media, Sensis, LightMix, Yes& Marketing Agency, ds+f / Don Schaaf & Friends Inc.

Top Creative and Design Agencies in Washington, D.C.

Web Designers: Taoti Creative, Unleashed Technologies, Interactive Strategies, Blue Water, WDG, Foster Web Marketing, Fastspot, Borenstein Group Inc., Centretek, nclud, Jake Group, Teal Media, Xtreme Websites, Plethora Design, Imagine

Digital Design: DMI, Brave UX, Echo&Co, Taoti Creative, Blue Water, Unleashed Technologies, Mobomo, Centretek, WDG, Interactive Strategies, Teal Media, Savvy Apps, nclud, Forum One, Bates Creative

Print Design: VigetBrand+AidLightMixIllustriaJake Groupds+f / Don Schaaf & Friends Inc.Boldr Strategic Consulting

UX: Brave UX, Echo & Co, DMI, Savvy Apps, Mobomo, Centretek, Fastspot, WillowTree Inc., nclud, WDG, Movel, Teal Media, Blue Water, Simpalm, Viget

Video Production: LAI Video, RaffertyWeiss Media, Storyfarm, TalkingTree Creative, Bennett Street Media, Fastspot, Sutter Group, Kapowza, Cohere, GKV, ds+f / Don Schaaf & Friends Inc., Exit10

Top Developers in Washington, D.C.

Mobile App Developers: WillowTree Inc., Mobomo, DMI, Simpalm, Technology Rivers, 3Advance, 10Pearls, Savvy Apps, NS804, Clearly Innovative, Apollo Matrix Inc., Achievion Solutions, Movel, SmartLogic, Mindgrub

Android App Developers: DMI, Mobomo, 10Pearls, Simpalm, Savvy Apps, 3Advance, SmartLogic, Technology Rivers, Apollo Matrix Inc., Segue Technologies, Clearly Innovative, Movel, thoughtbot, Achievion Solutions, Schrödinger’s Cat Laboratory

iPhone App Developers: WillowTree Inc., Mobomo, DMI, 10Pearls, 3Advance, Simpalm, NS804, Apollo Matrix Inc., Savvy Apps, Technology Rivers, Movel, Segue Technologies, SmartLogic, thoughtbot, Clearly Innovative

Web Developers: Unleashed Technologies, Orases, WDG, Schrödinger’s Cat Laboratory, Mobomo, Materiell, Modern Signal, Viget, Interactive Strategies, Creative2, agencyQ, Blue Water, Segue Technologies, Centretek, Technology Rivers

Software Developers: 10Pearls, AgileEngine, Segue Technologies, GenB Inc., SADA Systems, niftic agency, new target inc., thoughtbot, Movel, Dito, Innolance, TDMK Digital

Drupal Developers: Unleashed TechnologiesMobomoWDGSegue TechnologiesCentretekInteractive StrategiesTaoti CreativePlethora DesignncludAlliance InteractiveBates CreativeagencyQApollo Matrix Inc.Schrödinger’s Cat LaboratoryForum One

WordPress Developers: WDG, Mobomo, Materiell, Unleashed Technologies, Jake Group, nclud, Apollo Matrix Inc., Bates Creative, Segue Technologies, Alliance Interactive, 80Port, niftic agency, Taoti Creative, Elevated Web Design, Interactive Strategies

PHP Developers: Unleashed Technologies, WDG, Centretek, WebMechanix, Materiell, Taoti Creative, Plethora Design, Jake Group, new target inc., nclud, iTec Web Solutions, Viget, agencyQ, Schrödinger’s Cat Laboratory, Sutter Group

Ruby on Rails Developers: Viget, thoughtbot, 10Pearls, Technology Rivers, NotionTheory, Schrödinger’s Cat Laboratory, nclud, Fiat Insight, MICA Interactive

.NET Developers: 10Pearls, 3Advance, Interactive Strategies, Segue Technologies, Simpalm, SADA Systems, Centretek, agencyQ, MICA Interactive, AvigoSystems

Top IT & Business Services Companies in Washington, D.C.

Cloud Consultants: SADA Systems, 10Pearls, Dito, Cube84, Celedon Partners

IT Services: SADA Systems, BroadPoint Technologies, 10Pearls, Celedon Partners, Dito, Cube84, Forum One, DataLab USA, Fidelis Cybersecurity, cBEYONData, Innolance, new target inc., ECM Universe, Benevolent Tech

Call Centers: Direct Answer, Inc., A&A Communications, Morae Global, obo. Agency, Bay Business Group

“These DC-based agencies, consultants, and developers demonstrated their expertise in a very competitive environment,” said Aaron Morales, business analyst at Clutch.

Aaron added, “These companies not only delivered high-quality projects and results but also provided a gratifying experience for their clients.”

It’s free to get listed on Clutch, but only the best companies in each industry are recognized as leaders. Clutch’s research is ongoing, with new companies and reviews added daily. For a chance to be featured as one of Clutch’s 2019 Washington, D.C. Leaders, apply now. It’s a simple, two-step process that takes less than 20-minutes.

1105 Media Offers Leads with Predictive Intelligence

1105 Media Inc. announced “Leads Powered By Prophyts,” an initiative that will run all campaign-generated leads through the powerful Prophyts prediction engine, giving marketers a deeper level of purchase intelligence related to their traditional demand-gen and lead-gen efforts.

The powerful predictive Prophyts algorithm is able to identify early-stage buyers that are in-market to purchase products within specific technology categories. By overlaying this AI with traditional campaign-generated leads, marketers can hyper-target and prioritize their campaign-generated leads, in essence, super-charging their efforts.

“We know that 21st-century marketing teams are a revenue center within today’s organizations, and we need to be able to provide the very best ROI using every resource and technology that’s available to us. The Prophyts prediction engine, which is tuned to identify early-stage buyers, is a perfect complement to any lead campaign that runs with us,” said Henry Allain, COO, 1105 Media.

Cvent Closes Acquisition of QuickMobile

Cvent announced that it has closed its previously announced acquisition of QuickMobile, a pioneer of mobile event apps, based in Vancouver, British Columbia. The close of the acquisition will broaden and deepen Cvent’s already world-class mobile event app and onsite solution capabilities and help the company extend its reach in the marketplace through QuickMobile’s extensive partner network.

Reggie Aggarwal
Reggie Aggarwal

“We are extremely excited to complete our acquisition of QuickMobile and officially welcome them to the Cvent family,” said Reggie Aggarwal, founder and CEO of Cvent.

Reggie added, “The addition of QuickMobile’s platform ensures we continue to provide leading mobile event app technology to our clients worldwide, and QuickMobile’s 100-member team brings deep domain expertise in – and a passion for – the meetings and events space, something we both already share.”

David Smith
David Smith

“This is great news for our customers, as it is for all of us here at QuickMobile,” said David Smith, CEO of QuickMobile.

David added, “Like us, Cvent is a leader in mobile event apps and is committed to helping organizations run successful live events through technology. It’s exciting to add our talent and capabilities to a market leader that shares our passion for the events world.”

Together, the combined entity —

  • Serves more than 25,500 customers, including 80% of the Fortune 100
  • Has delivered 16.7 million app downloads
  • Employs more than 3,100 people worldwide
  • Offers more than 950 product support professionals to ensure customer success

Paycom Software Announces San Diego as Newest Office

Paycom Software, a leading provider of comprehensive, cloud-based human capital management software, announced the opening of an office in San Diego, California, its latest nationwide.

“We’re excited to expand our sales presence in a business-rich area that is constantly looking for innovative ways to engage their workforce, and our software will better enable employers to do just that”

“We are excited to open our San Diego office,” said Paycom’s founder and chief executive officer, Chad Richison.

Chad added, “This marks our fourth office in the Southern California area, which we believe will provide even greater penetration of this heavily populated region.”

Jeff York
Jeff York

The San Diego office is Paycom’s seventh in California, joining 2016 additions to Sacramento and Pasadena. A current Paycom sales manager will lead, hire and develop new sales talent to drive growth at the office and, as with existing offices, this latest will house additional personnel for client relations and implementation.

“We’re excited to expand our sales presence in a business-rich area that is constantly looking for innovative ways to engage their workforce, and our software will better enable employers to do just that,” said Paycom’s chief sales officer, Jeff York.

Ranked second on Fortune magazine’s 100 Fastest-Growing Companies list for 2017 and fourth on Forbes’ Fast Tech 25 list the same year, Paycom now has sales offices located all over the US.

Tien Tzuo, CEO and Founder of Zuora, Launches SUBSCRIBED, the First Book on the Subscription Economy

Zuora, the leading cloud-based subscription management platform provider, announced that the company’s CEO and Founder Tien Tzuo released the definitive guide for how to succeed in the Subscription Economy, “SUBSCRIBED: Why the Subscription Model Will be Your Company’s Future – and What to Do About It” at Zuora’s annual conference Subscribed™ in San Francisco. More than 10,000 people attend the Subscribed series of events each year to learn how to succeed amidst the most disruptive business model shift in a century. On 5 June, not only will attendees hear from Tzuo, the foremost expert on the Subscription Economy®, the entire world will have access to his playbook.

Marc Benioff, Chairman and CEO of Salesforce, said, “Tien Tzuo, who I was lucky enough to hire as my eleventh employee at Salesforce, has written the definitive playbook for anyone navigating the most important business model shift of our time. The subscription model is exploding everywhere, and nobody knows how to steer through this shift better than Tien.”

According to SUBSCRIBED, we’re at a pivotal moment in business history, one not seen since the Industrial Revolution. The world is moving away from products and toward services. From Netflix and Salesforce to Spotify and Amazon, subscriptions are exploding because billions of digital consumers increasingly favor access over ownership.

Tien Tzuo
Tien Tzuo

Yet most companies are still built to sell products. They’re not prepared for the next hundred years of business and this means huge opportunities are up for grabs. According to the Subscription Economy Index™ (SEI), Zuora’s proprietary index that tracks the growth of the Subscription Economy, subscription revenue growth rates have continued to accelerate every year since 2012.

“Industry after industry, businesses understand that subscriptions are the future of revenue growth. But they’ve been clamoring for a how-to succeed guide. That’s why I wrote SUBSCRIBED – a blueprint to win in the Subscription Economy,” said Zuora CEO and Founder Tien Tzuo.

Aaron Levie
Aaron Levie

According to SUBSCRIBED, inventing and launching a subscription business is the easy part. Wrapping the entire business operations around the customer is the challenge. The changes required are transformational and SUBSCRIBED is focused on providing a practical guide for any business seeking to succeed in the Subscription Economy.

Aaron Levie, CEO and Founder of Box said, “This book is ostensibly about subscription models, but it’s ultimately about the future of business. In SUBSCRIBED, you’ll learn from the masters of this business model and fundamentally change the way you think about your product, customers, growth, and talent — no matter what industry you’re in.”

In the book, Tien Tzuo demonstrates how to use subscriptions to build lucrative, ongoing, one-on-one relationships with customers pointing to case studies from:

  • Adobe who has transitioned from selling enterprise software licenses to offering cloud-based solutions for a flat monthly fee, quadrupling its valuation.
  • Fender who evolved from selling guitars one at a time to creating lifelong musicians by teaching beginners to play and keeping them inspired for life.
  • Caterpillar who uses subscriptions to help solve problems — it’s not about how many tractors you can rent, but how much dirt you need to move.

According to SUBSCRIBED, shifting the mindset from product-centered business to consumer-centered business will allow businesses to move beyond the linear. Organizations can be fluid and cohesive, recurring and responsive, informed and inspired, and this book will help guide companies on how to prepare and achieve maximum results, rather than trying to catch up later.

Comments on SUBSCRIBED 

Maynard Webb, Author of ‘Rebooting Work: Transform How You Work in the Age of Entrepreneurship’ said, “Tien Tzuo is the godfather of the subscription economy and now he shares his unparalleled wisdom in this book. A must-read for anyone who wants to have a breakout company.”

Scott Galloway, Professor of Marketing at NYU Stern and Author of ‘The Four,’ said, “Tien dissects the building blocks of what may be the greatest shift in business in the last 20 years; the move to a recurring revenue/subscription-based model. For any business looking to break the chains of episodic, transactional commerce, Tien’s book is a must-read.”

Caryn Seidman-Becker, Chairman and CEO, CLEAR said, “Subscribed is the ultimate playbook for customer-first companies.”

Baba Shiv, The Sanwa Bank, Limited, Professor of Marketing, Stanford Graduate School of Business said, “Subscription economics are radically different from traditional product-based models. Tien Tzuo has written an invaluable guide for anyone who wants to understand the dynamics behind what Microsoft CEO Satya Nadella calls the ‘secular movement’ towards subscriptions.”

Cvent Acquires Kapow to Deliver Unique Event Experiences That Drive Engagement and Increase Sales

Cvent, a market leader in meetings, events, and hospitality technology, announced that it has acquired Kapow, a leading online platform that allows companies to find and instantly book unique venues and curated experiences via a credit card.

Currently, Kapow offers more than 10,000 special event venues and experiences that can be booked directly through Kapow’s website. Some of the unique event venues include restaurants such as Fogo De Chão for authentic dining adventures in private rooms; retail experiences at Nike stores for personalized fittings; and movie theaters, including Regal Entertainment Group, for private screenings of popular new movies.

Read More: Sales-Marketing Partnership Critical to Drive Revenue Growth for Businesses

Kapow events can be purchased online with all logistical details organized in advance so organizations can easily book the event and focus their efforts on inviting and engaging attendees. Companies that use Kapow for sales-related events routinely close 20% more deals because of the increased face time delivered through tailored experiences. Organizations also use Kapow to book exclusive internal meetings that drive employee engagement.

At its core, Cvent technology gives organizations the power to source, create, and manage live events more efficiently than ever before. Acquiring Kapow enhances Cvent’s ability to deliver world-class live events by:

  • Offering companies – and their distributed field marketing teams – tailor-made event experiences at a scale that their sales teams can use to close important deals. Current customers include Samsung, Hewlett Packard Enterprise, Google, Facebook, Lenovo, Dell, Microsoft, and more.
  • Giving event planners and marketers pre-built, pre-negotiated event experiences that they can instantly book quickly and easily as needed. Event planners can now turn to Cvent to book unique, turn-key events in addition to using Cvent solutions to easily promote events and drive increased attendance.
  • Adding more unique venues to the thousands of hotels and venues already offered by the Cvent Supplier Network. In 2017, nearly $15 billion of sourcing volume flowed through Cvent.

Read More: Millennials are a Powerful Buying Force in Every B2B Sales Equation

Chris Brown
Chris Brown

“We are thrilled to continue the Kapow journey with Cvent, a company that understands how important face time at live events is to meeting corporate goals,” said Chris Brown, CEO of Kapow. “By leveraging Cvent’s research and development resources and market reach, we can more quickly add new venues to Kapow’s platform and offer unique event experiences to more organizations than ever before.”

Reggie Aggarwal
Reggie Aggarwal

“Since we were founded in 1999, Cvent has embraced the philosophy that well-executed live events deliver game-changing benefits for organizations,” said Reggie Aggarwal, founder and CEO of Cvent.

Reggie added, “Tapping into the power of the human connection to build relationships and get business done is more important than ever in our increasingly virtual world, and this central idea continues to drive our investments at Cvent. That’s why we acquired Kapow – to give our customers easy access to unique live event experiences that they can book whenever the need arises. We are extremely excited to add Kapow to our portfolio of solutions and to welcome our newest team members to the Cvent family.”

Read More: Great Sales Intelligence Encompasses Fit, Intent, and Opportunity for Faster Revenue Growth