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Building a data-driven win-loss program

Building a data-driven win-loss program

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  1. 1 © 2019 Toast, Inc. All Rights Reserved. Building a

    Data-Driven Win-Loss Program Kelly Esten, Sr Director of PMM at Toast
  2. 2 © 2019 Toast, Inc. All Rights Reserved. • Bobby’s

    Mom • Product Marketing & Market Insights at Toast • Product Marketing and Sales at EnerNOC • MBA from the Tuck School at Dartmouth • Sales, Competitive Intelligence, Business Development, Pricing at UBS My Background
  3. 3 © 2019 Toast, Inc. All Rights Reserved. Typical Challenges

    with Win/Loss Programs • Win/loss fields don’t make sense or aren’t used • Understanding of why you are winning and losing is driven by anecdotes or opinions • Salesforce data isn’t clean enough to use • Sales people aren’t motivated to fill out win/loss reasons • Sales notes have good info, but it’s manual to get at it • Win/loss calls are ad hoc, not done or only done by sales • Team isn’t trained on how to do great win/loss calls • Wins are communicated/celebrated but not losses
  4. 4 © 2019 Toast, Inc. All Rights Reserved. All of

    the above!
  5. 5 © 2019 Toast, Inc. All Rights Reserved. What makes

    a great program? Buy-In Qualitative • **why** Quantitative • What’s happening and where • What’s working and what’s not
  6. 6 © 2019 Toast, Inc. All Rights Reserved. Did the

    Manual Work Aligned on Categories & Metrics Got Deep in SF and with Sales Called Ourselves Called in Pros Automated Surveys Generated Insights & Enablement Shared Results! How We Built It
  7. 7 © 2019 Toast, Inc. All Rights Reserved. We did

    the manual work I really did read thousands and thousands of opportunity records and sales notes (so did our founder) This allowed us to improve categories and kill “other” We manually recategorized everything and uploaded it so we could start with a full quarter of clean data
  8. 8 © 2019 Toast, Inc. All Rights Reserved. Aligned on

    categories and metrics What we did How we made it work Categories Metrics • Definitions and training are key • We made this mandatory through salesforce logic • We added review/approve steps for managers to ensure quality • We complemented sales efforts with external data sources • Aligned both sales and product marketing OKRs to key metrics; first class metrics at company level • Focused first on competitive win rate to drive it up • Then turned focus to turning ghosted and no decisions into decisions W/L Types: Won, Lost to Competitor, Lost to Upgraded Existing, No Decision, Ghosted Loss Reasons: coded top 10 by type, don’t allow “other” Feature Influence, Top Competitor, Segment Wins, Losses, No Decisions and Ghosted per ramped rep Competitive Win Rate: % of decisions won Opportunity to Deal Conversion Rate
  9. 9 © 2019 Toast, Inc. All Rights Reserved. Got deep

    in salesforce with sales Put categories, automation and rules into saleforce Shared the “why” a lot Told everyone we were really reading and using the data! Feedback, tweaking, changes, etc...
  10. 10 © 2019 Toast, Inc. All Rights Reserved. We called

    wins and losses ourselves Interview Guides Team Quotas Sales ride-alongs Monthly summaries
  11. 11 © 2019 Toast, Inc. All Rights Reserved. We called

    in pros to help Unbiased view Professional (non-leading) interviews Scale (additional interviews each quarter) Help with the “why” Quarterly themes and presentations
  12. 12 © 2019 Toast, Inc. All Rights Reserved. We automated

    surveys - “Why Not Toast” Automated 2 question “Why Not Toast” email goes out to every loss From Hubspot, answer gets sent to GTM leaders and added to a report where we can track reasons over time (and compare to what sales says!) Drop-down with top loss reasons pre-filled Open question for additional color
  13. 13 © 2019 Toast, Inc. All Rights Reserved. We automated

    surveys - Deeper Dive Offer $100 raffle each month for taking a longer surveymonkey Ask them whether they purchased, how, who, why, how much Matched with salesforce data; added more info
  14. 14 © 2019 Toast, Inc. All Rights Reserved. We generated

    insights and enablement • Quarterly sales training always has a win/loss driven component • Quantitative data and qualitative insights drive what we put on our competitive battlecards • Competitor “Take Down” plays leverage win/loss each quarter • Monthly dashboards and quarterly read outs inform corporate strategy, GTM and product roadmap
  15. 15 © 2019 Toast, Inc. All Rights Reserved. We shared

    the results widely! 20 40 60 80 100 30% 60% 66% Competitive Win Rate Opp to Deal Conversion Productivity % Improvement year-over-year • Results are tracked in monthly and quarterly metrics and OKR meetings • Summarized in monthly PMM dashboard • Deep dive in quarterly sales leadership QBR with deep dives into the “why” changes and regional differences • Part of sales leadership “Source of Truth” dashboard
  16. 16 © 2019 Toast, Inc. All Rights Reserved. We are

    hiring! toasttab.com linkedin.com/in/kellysennatt @kellysennatt Toast kesten@toasttab.com Email 401 Park Drive Boston, MA Office