Filling the sales pipeline.
Forecasting with accuracy and precision.
These, arguably, are two of the most essential factors impacting revenue acceleration. And one that requires a delicate balancing act — having (more than) enough opportunities while accurately (and consistently) guessing what might happen next.
We chatted with Jeremey Donovan, former semiconductor engineer turned EVP of Revenue Operations and Strategy at Insight. Jeremey comes to RevOps with an engineering mindset about how to solve problems and approach questions and processes with data and statistics.
He’s “always geeking out — a learning machine who loves to read, to consume podcasts ... everything.”
Our conversation with Jeremey on the Run Revenue Show explained several ways to “walk the tightrope.” The Insight team conducted a survey across its entire portfolio that yielded some fascinating findings.
Specifically, the data from the Insight survey suggest the following three keys to maximize pipeline and forecast accuracy:
- Foster discipline in pipeline generation and management.
- Prioritize human capital and define processes.
- Cultivate a motivated and cohesive sales force.
Let’s start with the first one.
1. Foster discipline in pipeline generation and management
The Insight survey asked nearly 100 questions, including:
What's the gap between high performers and low performers?
What are the high performers doing that the average or low performers aren't focused on as much?
Discipline and process.
The “what to do” is pretty straightforward. Almost obvious.
Given various sales cycles and win rates, you need to have a large enough pipeline to achieve booking goals in each period. Be maniacally focused on pipeline generation (PG).
But how?
One way is to be highly mindful of understanding the pipeline contribution by source — inbound, AE self-sourcing, outbound SDRs, channel, etc. Even better? Go more granular. Measure and track pipeline based on inbound demo requests vs. owned events vs. search engine marketing. And so on.
Said another way, be intentional about where deals are coming from and how valuable each deal (and source) is.
At Clari, we treat revenue like a business process (not just an outcome). We break down business processes into all their parts and then optimize each component where possible.
We do this by setting up regular meetings to:
- Carefully examine the pipeline
- Determine which leads are most promising
- Shift focus to activities that return results
- Concentrate on creating opportunities
To summarize: It's crucial to take a closer look at where deals are coming from and how valuable they really are. Treat revenue like a process and adhere to it!
2. Prioritize human capital and define processes
It’s not rocket science, but there is some science involved.
The most successful companies have a really tight cadence (process) around pipeline creation. They are stellar at:
- getting the right people in the room at the right time
- having the right conversations
- inspecting the right variables
- challenging each other
- ensuring they're aligned on those expectations for where pipeline is coming from
And this is the key: They are pros at setting and holding their teams accountable to the right activities.
We also see a positive trend to have AEs as part of the process. At Clari, the highest velocity, highest win rate pipeline is sourced by AEs.
Jeremey agrees. “I do think AEs must self-prospect — maybe a half to one day per week. It’s not an overwhelming amount.” This is especially true when an AE has a relationship and can rely on referrals and lower-friction ways to get in.
Are some SDRs more polished and more successful compared to AEs? Sure, but in terms of statistical distribution, the average SDR still has some stuff to learn.
Bonus: We see a huge lift when both AEs and SDRs are co-prospecting into accounts (Just ensure it’s a coordinated effort).
Finally, incorporate intent data to connect to prospects with precision. This requires revenue leaders to lean into creating and adhering to that same cadence that they use at the bottom of the funnel.
It’s not enough to generate pipeline; those deals must convert.
To summarize: Having a skilled team and effective processes is more crucial than just relying on technology. Focus on building a strong team to follow clear sales processes before incorporating advanced tools. These basic elements provide long-lasting stability and the ability to grow.
3. Cultivate a motivated and cohesive sales force
A motivated and tight-knit sales team is another formula for success.
Seems obvious, right?
However, one thing we’ve seen to be quite effective lately — especially for closing late-stage deals — is hosting very intimate dinners (max 12).
Jeremey suggests being very intentional about every detail, including the seating chart. The ideal table looks like this: Happy customer >> Prospects >> Salesperson >> Happy customer >> Prospects >> Salesperson
Fancy dinners can be a great motivator ... for those who attend the dinner. But what about the others?
Any sort of positive recognition can be effective.
But in a world where we’re still recovering from the shock of COVID lockdown, it’s about getting people physically together to build friendships — “probably the number one best thing that you can do,” says Jeremey. “The energy and the good vibes and everything. It happens organically. People miss each other.”
More motivation? Hitting quotas. Not shockingly, high-performing companies tend to have lower attrition rates. You make your number, and you stick around.
This concept of being able to hold on to your talent is critical to running a successful revenue operations team.
To summarize: Acknowledge individual accomplishments and create a positive work atmosphere for team bonding. Organize regular in-person events, openly praise outstanding efforts, and promote success stories that connect with clients. These practices help create a motivated and skilled workforce capable of attracting new business and maintaining existing partnerships.
Bonus: Mapping stakeholders and influencers in the sale
The results of Insight’s survey revealed that top-performing companies were much more consistent about mapping the stakeholders — identifying who they are, what their interactions are, their disposition toward your company, and what type of buyer they are.
Jeremey suggests getting comfortable with the Miller-Heiman Method and really understanding your various buyers:
- User buyer
- Technical buyer*
- Champions
- Economic buyer
Technical buyers are in the evaluation. They're usually people who can say no (legal, privacy and security, procurement, etc.).
Next level? Mapping out and thinking about the orchestration. Specifically, who do you talk to, and in what order?
Beware of single-threaded deals, which often result in considerable revenue leak. Going back to the same decision maker all the time works...until it doesn’t. If that decision maker gets promoted, transitions to another part of the business, leaves the company, or makes another move — you're in big trouble.
No matter what, you must multi-thread and map the influence and authority throughout.
PRO TIP
You must have the CEO and CRO aligned. They must care. They must buy-in; otherwise, your deal will fall apart.