Hi there! I’m Steve Waters, Sr. Director of Commercial Sales at DiscoverOrg, and in today’s Discover X video, I’m showing how to leverage employee location data for sales and marketing teams to maximize pipeline and revenue.
Welcome to another Discover session!
With the introduction of the gig economy, with completely digital workforces that work from home, with companies corresponding across cities, state lines, countries, and continents – we hear a common pain point from lot of our clients: How do I know where these employees are actually located?
When you have that data, you can leverage it in some really creative ways to set more meetings, creating more opportunities, build more pipeline, and generate more predictable revenue.
Here’s how location data touches the sales process – and how to leverage these insights to make your sales process a whole lot more efficient.
1. Use location data to time your sales call
One of the worst things that SDRs can do is to call someone at 5:00 AM.
You have to be a real masochist to enjoy getting a sales call first thing in the morning! You’re groggy, you hear the name of the company – and then you just get annoyed.
There are optimal times to call organizations (and it’s not 5:00 AM).
We’ve found that the best times to engage, especially for executives and VP-level contacts, is before and after work: between 8:00 and 9:00 AM or between 5:00 to 7:00 PM. That’s when the phones aren’t ringing off the hook, and they’re less likely to be in meetings.
If you can reach these prospects at the right time, it’s incredibly valuable.
… Of course, you need to know what time zone they’re in.
Including time zone in your CRM increases efficiency
Most people view LinkedIn as the gospel for where people are located. But you can’t get that data at scale and put it into your Salesforce instance or other CRM.
And it’s not a very efficient one-off sales motion, right? You pull them up in your CRM, you go to Linkedin, you come back, you think, Oh, that person’s in San Francisco, I’m going to give her a call. That’s not a very fast motion.
If you have the employee location data in your CRM, you can run a report or a play by time zone.
If your SDR team can call through given time zones – east coast, central time, mountain – that’s going to increase the connect rate for the cold calls.
That’s incredibly powerful. If you can increase the connect rate, your SDR is going to have more conversations, and you’re going to fill the top of the funnel with more opportunities.
Having all that information native in your CRM is just going to be much, much more efficient. And you’ll have fewer 5:00 AM fiascos!
2. Use Geolocation for direct mail
Let’s be honest: 80% to 90% of the mail we get at home doesn’t matter, right?
I think Geico and MasterCard have spent thousands of dollars trying to get me to switch to them, and I just throw it all away.
CEOs get a fair amount of direct mail – but not nearly as much as they could. You can differentiate yourself in an account-based strategy by doing digital ads and direct mail from the marketing team, have your SDRs call, and have a field sales rep come and knock on the door.
(Or you could send a big chocolate foot. To get your foot in the door, right? One of our customers did this and I thought that was pretty clever!)
Knowing where the employees are located – rather than simply having the headquarters address – is a big advantage. You don’t want to send chocolate-covered strawberries to the New York office when your target is in the Austin, Texas office. Someone else will eat your delicious gift.
Again, having that data native in your CRM is just a much more efficient way to leverage the direct mail process.
3. Use location data for territory mapping
If one of your reps target SAP, headquartered in Europe, but they have big office in the United States – you want to be able to leverage that for fair distribution of territories. This ensures that they are more equally distributed amongst the sales reps.
The last thing that you want is a sales rep to say that they could not hit their numbers, because my territory is not as robust as someone else. Mapping with employee location data makes things more fair across the team
It’s also good for the distribution of inbound leads.
You know that speed to lead is incredibly important. In fact, there are stats that say if you wait more than 5 minutes to reach out to your lead, your chances of converting that lead go down by 80%.
So you really want to have that data just right in front of you all the time, so the lead can be routed to the right person. If the lead has to go to someone else, to get their eyes on it and then distributed to someone else – the inefficiency in the process really slows down how quickly you can get speed to lead.
4. Use location data to leverage on-site visits
At DiscoverOrg, our CEO Henry Schuck, President Katie Bullard, and other executives go to on-sites with client on a regular basis.
Let’s say that on-site is a lunch meeting from 11:00 to 1:00. Well, what is Henry going into between 8:00 and 11:00? And what is he going to do between 1:00 and 5:00?
If we have all the data native in the Salesforce instance, we can fill in his gaps during those on-sites.
It’s very easy to ensure that your executives have a busy schedule.
We’ll just send a report to all our sales reps and customer success managers, saying “Henry has an opening between 8:00 and 11:00 in San Francisco. Do you have any clients or open opportunities there that he could visit?”
Again, if you’re going by the headquarters address, you might be reaching out to the wrong people, and you can’t book that slot.
Sales prospecting with on-site visits
Think about the costs of going to an event: the plane tickets, the hotels, the entertainment costs.
If you can divide that cost over more meetings – whether it’s knocking on a door of a new client with a gift, or meeting with a current opportunity – knowing the employee location data is just incredibly helpful.
On-site visits for training existing customers
You can also leverage on-sites for learning and development. Customers take training a little bit more seriously if we can do it in person.
Well, when you know the headquarters addresses – versus employee locations – you can offer more in-person learning and development opportunities. That, in turn, helps you become stickier, drive user adoption, and increase renewal rate.
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5. Location data for events
Creative events like the “lunch ‘n’ learn” are a great way to reach your audience. To drive attendance to on-site events like that, you can leverage employee location data.
One of our clients had a really creative idea: Put on a sushi cruise in the San Francisco Bay! (Most people like sushi, right?)
They hired one of the best chefs in San Francisco, but they needed to fill the cruise with the right kind of contacts to sell to. So they used ZIP code data to invite attendees – because, let’s face it, no one’s driving from the outskirts of Oakland all the way through town for a sushi cruise, no matter how good it is.
The client had great success with this event, because they were targeting exactly the right people – in the right location.
Take advantage of trade shows
The most risky investments are trade shows: They’re very expensive. We want to make sure that all of this money is going to the the right thing.
If I’m spending six or seven figures at Dreamforce, I want to invite as many people as possible.
I want to know all the people attending before the event, so I can drive as much attendance as possible – whether that’s a third-party trade show or my own event. You want people in your backyard to be able to come to that event.
In the gig economy, where companies have remote workers all over the country, knowing where people are located is more important than it’s ever.
Thank you for joining me today!
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