Experiences 70% Increase in Forecast Data Quality and Saves 250+ Hours of Report BuildingThorben Grosser is the Manager of Business Development at EventMobi, a SaaS technology provider that helps event planners engage their audiences and generate further revenue while making their jobs easier and saving them money. EventMobi is the most popular event app for meetings, conferences, and tradeshows worldwide. In mid-2012 EventMobi had reached a point where they were a stable and sustainable start-up, and as a result they wanted to start asking smarter questions of their data like: Which sales reps are good at what? How many calls does it take to close a deal?
The Search for a Better Way to Build Salesforce Reports
Before InsightSquared, EventMobi measured their sales and marketing efforts by reports they built in Salesforce (sound familiar?). It became Grosser’s job to run reports in Salesforce, so he began the tedious process of building them. “It takes you days to build Salesforce reports. They don’t look good, and they are slow, painful and buggy,” he explained.
Grosser began searching for a Salesforce reporting plug-in; specifically something to build better and easier forecasting reports than what was being offered. He came across InsightSquared. “It came with all of these amazing ready-made reports,” said Grosser. “I knew this was the thing we needed to solve our problems.”
Grosser did not look for any other alternatives because he “could not find a product that did everything InsightSquared does.” InsightSquared was so easy to use, Grosser and his team ramped up quickly. Many other employees including the CEO of the company also use and have access to InsightSquared.
Wins for EventMobi Since Implementing InsightSquared:
- 70% improvement in forecast data quality
- 10% increase in win-rate
- 250+ hours a year saved by not building reports in Salesforce
- 2.5x team growth
- An understanding of why certain customers do not renew their contracts
- The ability to make hiring decisions based on the workload assessment of activities
70% More Accurate Sales Forecasting with InsightSquared
“We cleaned our CRM using InsightSquared and improved the data quality of forecasts,” explained Grosser. “We improved our sales forecast quality from around 30% to an almost constant 100% with InsightSquared. We now know if someone is having difficulties in sales, which KPIs are fine and which are not. We can now forecast properly and know which channels work better. We have managed to understand business on a much more granular level.”
With InsightSquared, EventMobi can look at retrospective reports to understand which quarters are strong and which are weak, which has proved invaluable for forecasting. “The InsightSquared dashboards keep everyone on top of what’s happening in the company,” Grosser explained. “It’s really hard to get these from Salesforce.”
10% Increase in Win-Rates and Better Understanding of Closed/ Lost Opportunities
“Since we have started using InsightSquared, our win-rate has increased by almost 10%,” said Grosser. “Personally it saved me around 3 hours of reporting per week, plus another day a month of doing out-of-the-ordinary reports.”
“Another thing InsightSquared has been great at, and we didn’t understand before, was why some [opportunities] didn’t close and who we were losing those to,” explained Grosser. “Before InsightSquared, we didn’t track closed/ lost opportunities, but now we know why we do or don’t, and have worked to change that.” Knowing this has been essential to the company’s growth.
Easy-to-Use Reports for the Entire Team
InsightSquared’s Pipeline Today report helps EventMobi understand how many leads they need to get in order to reach their monthly goal – data that was completely unavailable to them before. “If we want to reach this goal by end-of-month, statistically we know we need x number of leads to hit that goal. We then know how many more leads we need to add and where we stand in real-time,” said Grosser.
Understanding Annual Renewals and Using Data to Close Deals
One of account management’s main responsibilities is to work on annual renewals. The team uses InsightSquared to look at how many clients they have renewed and also why they have not renewed certain clients. With InsightSquared, they can dig deep to find out why someone did not renew and what they have in common with others who also chose not to. Filtering and adjusting the reports to dig deep is easy and takes clicks rather than regenerating reports in Salesforce. “Now we can look deeply and easily into why they aren’t renewing,” said Grosser. They can use the InsightSquared Won-Lost report to spot key reasons why they lost accounts.
In addition, the management uses InsightSquared to look at account manager performance. The reports help them make decisions based on reliable information instead of through subjective assessment performance.
Specifically, EventMobi uses Sales Activities reports to see how many calls an account manager needs to make in order to close a deal. Reporting in InsightSquared helped the team set accurate activity benchmarks that would help them hit their quota goals. InsightSquared is all in real-time and EventMobi uses the dashboards to showcase daily progress for lead generation, sales and activity tracking.
Using InsightSquared Data Causes 2.5x Increase in Company Size
An unexpected side effect of using InsightSquared was that EventMobi learned a lot about their sales process and with that information they were able to make data-driven hiring decisions.
“If we are hiring more employees because of a new wave of growth, we’d better know how long our sales cycle is and when it is best to bring on more people,” said Grosser. “The issue we are no longer running into is hiring somebody when we desperately need them, but hiring ahead of time so we know we’ll need them once the ramp-up time is over.”
When EventMobi started using InsightSquared, they had just 18 employees. Now they are close to 50 employees having more-than doubled the size of the company. They use InsightSquared to see who they need to hire based on how they need to fill pipeline and what actions they need to take to fill it. They use InsightSquared to figure out how many account managers they need to hire at each stage to make sure the overall goals are met.
InsightSquared Helps Manage Dispersed Global Teams
EventMobi has employees located all over the world. “InsightSquared helps us easily compare teams in different countries, giving us a better understanding of how they perform differently,” explained Grosser. “Every country has very different ways of conducting business. Does one country need to make more or fewer phone calls? Who do we need to hire and what should they get more involved with?” InsightSquared answers those questions and gives EventMobi a better understanding of cultural differences when it comes to their business. In one click, they can see how much each global team is doing. They now have the ability to drill into sales by each specific team.
Grosser’s last piece of advice: “What’s great about InsightSquared is that if I’m looking at sales data, and I’m wondering about anything, within 2 or 3 clicks I can have that report in front of me. That’s what makes it so powerful – you don’t have to wait for anyone to build that report for you. You can get a lot of data incredibly fast.”
If you’d like to learn more about how InsightSquared can help you get more from your Salesforce data, sign up for a Free Trial.