Building a data-driven win-loss program

Transcript

1. 1
   © 2019 Toast, Inc. All Rights Reserved.
   Building a Data-Driven
   Win-Loss Program
   Kelly Esten, Sr Director of PMM at Toast
   

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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
   

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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
   

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4. 4
   © 2019 Toast, Inc. All Rights Reserved.
   All of the above!
   

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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
   

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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
   

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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
   

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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
   

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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...
   

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10. 10
    © 2019 Toast, Inc. All Rights Reserved.
    We called wins and losses ourselves
    Interview Guides
    Team Quotas
    Sales ride-alongs
    Monthly summaries
    

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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
    

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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
    

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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
    

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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
    

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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
    

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    © 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
    

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