The Company
[image source_type=”attachment_id” align=”right” source_value=”26024″ width=”196″ height=”197″ quality=”100″] MarketStar is a pioneer in outsourced sales and marketing that manages more than 80,000 commercial accounts, interacts with over 8,000 customers via phone, and influences more than $13 million in sales for their clients every day. In 2013 MarketStar executives realized that they needed better visibility into their business, marketing efforts, and sales process. They hired Adam Price, Director of Sales & Marketing Operations, to dive in and get them the insights that they needed to better run their business.The Problem
When Price came on board to enable MarketStar’s sales and marketing teams, he had several complicated issues to tackle regarding their reporting capabilities. First and foremost, MarketStar executives did not have visibility into their marketing efforts, specifically Marketing ROI and Marketing Pipeline Contribution. In addition, Price needed to evaluate, refine, and document the company’s sales processes and transition to a new CRM (Salesforce).
What it boiled down to was that Price needed to provide executive-level reporting, and actionable metrics to his teams as quickly as possible. To provide all of this information, Price needed to build reports – really good reports. His biggest challenge was that the custom, internally built reporting system the team had in place was far too time consuming to meet the demands placed on him for daily, weekly and monthly reporting.
Wins for MarketStar:
- A year and a half saved in development time
- $200,000+ saved in custom development costs
- Almost 500 new job opportunities created at the company
- 100% pipeline accuracy
The Solution
Price evaluated many options before ultimately choosing InsightSquared. Although he researched solutions such as Domo and GoodData, he saw great value in InsightSquared’s immediate implementation. When he learned that the tool could be up and running in a matter of days (not the months-long implementations of typical BI), he realized that he had found the right tool for better Salesforce reporting and analysis. Price even shared that he was, “Actually shocked by how fast InsightSquared was up-and-running. Our initial estimate was that it saved us a year and a half in development time to produce what InsightSquared provided out of the box. InsightSquared gave me immediate access to early funnel data, out of the box, something no other product could do.” It also saved him money, “Partnering with InsightSquared easily saved me a couple hundred thousand dollars in custom development costs not counting all the time it freed up for me to focus on enhancements to our sales process, sales rep efficiency, marketing attribution, etc.,” said Price.
“InsightSquared stepped up to the plate and tackled my frustrations head-on,” said Price. “It passed the design test, as it is both easy to navigate and provides a rich, beautiful user interface. When looking at some other business analytics products, I noticed that most are painful to look at and difficult to navigate and filter. InsightSquared really stood out to me.”
The Benefits
Price was able to immediately put InsightSquared to use for his executive team to give them visibility into the business. He now uses InsightSquared when creating his slide deck for monthly executive business reviews. This 30-page deck is sent out once a month and is a complete deep-dive into the business. “I can’t imagine being able to do anything like this in Salesforce,” said Price. “I can put together these 30 pages in just a couple of hours. InsightSquared is extremely valuable in that it’s a huge time saver and I know the data is accurate.” The CEO, CFO, COO, EVP of Business Development and Marketing, VP of Direct Sales and many other company executives look at this deck.
Price also sends a custom one-page report to each executive on a weekly basis. This one-pager is created exclusively with InsightSquared and is specific to each executive, showing them the metrics most important to them. These reviews provide the executives with the visibility into the marketing and sales data they asked for. It solves the many challenges Price was initially brought on to solve. MarketStar executives can now easily see all the reports they need in order to make accurate and effective business decisions.
In addition, since implementing InsightSquared, the entire sales and marketing team has been given access to the reporting, and Price is able to train his reps and marketers in under an hour how to navigate, filter and email reports in InsightSquared.
He has also been able to easily and visually track progress towards goals. With reports like InsightSquared’s Lead Trajectory report, he can track the team’s daily progression towards meeting their marketing lead goals. It also helps him understand what the best lead sources are, so the team can be more successful at lead generation.
The sales team uses InsightSquared to manage their pipeline and forecast more accurately. Because of InsightSquared, MarketStar has a much cleaner pipeline. “100% pipeline accuracy is what we now aim for,” said Price. “There is no excuse for having an opportunity in the wrong stage.”
[image source_type=”attachment_id” source_value=”44410″ align=”center” width=”797″ height=”471″ quality=”100″]An Unexpected Benefit
Price continues to find innovative ways to use InsightSquared that positively affect the whole company. “I created a new dashboard view that has gained traction with the executive team,” said Price. “We are a values driven company and it’s important to both myself and the company that the individuals know they are contributing to the common good and doing more than just selling things. I was able to translate our business development revenue into number of jobs created, which really gives meaning to the numbers. It’s not just millions of dollars in revenue, but selling our solutions provides employment for hundreds of people. It’s another way of saying what you do is important and provides value not just for you and the company, but also for many families across the country and the globe. InsightSquared allowed me to visualize this in minutes with its dashboard creating tools and new customization features. This year so far we’ve created almost 500 new jobs.”
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