Prospecting into your target accounts doesn't have to be a time-consuming, labor-intensive process. In fact, the majority of your reps' time should be spent selling. Not researching.
With the right data foundation in place, your organization can easily deliver timely information to sales reps in order to automate and scale everyday processes. Especially with external signals enriching account data and streamlining outbound sales, your sales team becomes empowered to spend more time selling.
During our most recent webinar, How To Automate Your Outbound Sales Engine At Scale, we had the opportunity to take a deep dive with the InsightSquared sales ops team to unearth exactly what works best. From prioritizing accounts, mapping territories, to distributing company signals, InsightSquared shared how best to automate and work at scale.
An Account-Based Approach
To automate anything, you first need to make sure you're allocating resources in the right places to begin with. That starts with transitioning to an account-based selling approach.
For InsightSquared this means associating one AE and one BDR with every account. This way, when a lead comes in, it first gets matched to an account and is then routed to the correct account owner. Rather than having six leads from the same company receiving follow ups from six different reps, an account-based approach provides the consistency needed to streamline outreach initiatives.
Parallel to an account-based approach comes a need to focus on data quality. Enriched account data not only drives your ability to properly evaluate qualifying events for prospects, but is also the foundation to run further analysis (account scoring, territory management, etc). InsightSquared looks at data quality as a closed loop system made up of three steps.
"Something that often times gets overlooked is that you have to have a strong foundation. You need to have all of this information organized in a consistent way that you can depend on in order to accelerate." - Maxwell Lydstone, Senior Director of Business Operations at InsightSquared
Confident with all the right data in place, it's important to evaluate the aggregate data points on every account in such a way that they indicate a measure of quality. An account scoring model provides a standardized measure of quality so you can automate the account selection process and scale your ability to surface best-fit accounts. For InsightSquared, an account score is composed of four key components.
"For company signals, which is a big part of DataFox and a big part of why we moved forward with them, we are able to highlight signals that are positive external indicators. So if an account makes a key hire, just raised a round of funding, or shows very strong growth, then we score that account higher." - Phoebe Farber, Sales Operations Manager at InsightSquared
By having identified which data points are indicators of buying activity, InsightSquared assigned each data point a weight and compiled all weighted criteria into an account score. Instead of leaving this evaluation process up to rep discretion, account scores provide a quick and transparent view into relevant account insights. These insights also enable strategic territory management.
"In terms of high-level strategy, the reason we came up with this account scoring model based on different attributes is to have a very open and observable methodology for how to balance territories. Not only so sales ops has a repeatable process to follow but also for the sales team themselves because this is what gives them the ability to be successful. It's really important that they understand the data and trust the methodologies being used to balance territories in order to make sure they're fair, even, and equal." - Maxwell Lydstone, Senior Director of Business Operations at InsightSquared
Following all of the data evaluation processes is InsightSquared's robust tech stack helping to automate workflows. Primarily in the data management and enhancement bucket, you can find powerful tools that steamline and scale processes supporting outbound sales.
"Specifically contributing to our account-based approach at the highest level are DataFox and LeanData. While LeanData does our lead to account routing so we have the ability to think through all of that logic, DataFox is our strong tool for account-level information and it's been very strong obviously in firmographic, technographic, and signal data. There's also a lot of value that can be found in DataFox that can help with account-level data hygiene as well as informing all of the data points you found to be important." - Phoebe Farber, Sales Operations Manager at InsightSquared
Another important factor of automation is delivering timely information. Especially with signal data being captured in real-time, you need to make sure that your reps receive this information as fast as possible. InsightSquared collects three types of signals and distributes them directly to their reps, arming them with contextual outreach initiatives that lead to higher conversions.
"We use the DataFox API to specifically pass over signals and then the DataFox Slack integration is something that we use heavily for sales. So we put thought into which of the signals would be useful to sales and then we give them the opportunity to kind of tweak that and make sure that as individuals they're getting the most value out of the signals that DataFox provides." - Phoebe Farber, Sales Operations Manager at InsightSquared
Measures of Success
As with anything you're looking to improve, make sure to measure the success of your initiatives and adjust accordingly. For InsightSquared, this means first creating a loop that is collecting feedback from sales. Either directly through reps or their managers, it's important to listen and understand how reps are interacting with your systems. Are they receiving relevant signal data in a timely manner? Are they receiving too much signal data? Do they understand why an account is a high-value prospect?
Taking feedback into consideration, the ultimate measure of success at InsightSquared is territory balance and opportunity influence. Are you giving every single rep the same opportunity to be successful in their territory with their assigned accounts? This gets measured by account score and pipeline generated in relation to signals. Evaluating both depends on your ability to use quality data and effectively build out automation process, but with both in place it should be easy to iterate.
Check out How To Automate Your Outbound Sales Engine At Scale to learn more!
Read how LinkSquares Built A Custom Account Scoring Model for their account-based strategy!