October 27, 2011
Screen-sharing demo tool from Glance Networks helps Reed Construction Data reduce sales cycles/time-to-revenue by 60 percent
Chief Customer Officer, Reed Construction Data
Reed Construction Data, headquartered in a suburb of Atlanta, is a leading information provider to the construction industry, delivering targeted and timely project information, cost data and market intelligence that simplifies decision-making for Architecture, Engineering and Construction (AEC) professionals throughout North America.
Demonstrations are a key element of the selling process for Reed. For years, rather than providing one-on-one demos, the company had used a homegrown demo system that gave prospects access to its production data for a short period of time. The access was unguided, which caused several problems; chief among them, many prospects simply accessed the data they needed but then didn’t purchase the service from Reed.
Another downside of the homegrown system was that it did not automatically track prospect demo activity, leaving it up to the salesperson to manually update records in Reed’s sales force automation (SFA) system. Often reps neglected to do that, meaning follow-up sales efforts post-demo were erratic and sales managers not could accurately track demo activity or the impact of demos on closure rates.
How Glance Helps
Reed’s management team decided it was time to scrap its existing process and bring on a real demo tool to help its sales reps take charge of the process. Fiondella discovered that several inside salespeople had already adopted an instant screen-sharing tool called Glance to give demos, and it had helped
improve their closure rates considerably.
Simultaneously, Fiondella was working on an upgrade of Reed’s SFA, from an internally developed system to Salesforce.com. When she learned there was a version of Glance for Salesforce, she made the decision to move forward and implement Glance across Reed’s entire sales force.
With Salesforce CRM and Glance for Salesforce now in place, Reed reps can now launch demos from within Salesforce. Participants are connected with one click, in just seconds. All activity is automatically recorded with no action necessary by the reps, and Reed sales managers can easily access reports such as number of demos per rep, average demo length and the impact demos have had on conversion rates.
According to Fiondella, Glance for Salesforce has helped the Reed sales team:
– Build Salesforce stickiness by providing reps with all the apps they needed within the Salesforce.com interface.
– Reduce sales cycles by 60 percent.
– Improve lead conversion rates by 40 percent.
– Increase the volume of demos to new leads by 66 percent.
Fiondella says other benefits include:
– Reducing inside sales-cost-per-close by improving the lead conversion rate.
– Reducing the marketing-cost-per-close.
– Reducing the costs associated with its former demo system.
Overall, Reed estimates that it achieved payback on its investment in Glance for Salesforce in just four months.
“Reed is constantly striving to build a stronger sales force and Glance for Salesforce has transformed our sales process,” says Fiondella.
She says that the reporting in Glance for Salesforce has given the Reed sales management team unprecedented insight into inside sales activity, including the quantifiable impact of demos on sales. It has also enabled Reed to target and improve its training and development for sales reps in order to make them more successful.
“Demo-related metrics are the most important ones we track from an efficiency and effectiveness standpoint, because demos have such a strong impact on our close rates,” says Fiondella. “The analytics that Glance provides have vastly improved our ability to move the needle. We now have a much better understanding of the drivers for success.” Based on this success, Fiondella reports, a number of additional business units within Reed have recently begun using Glance for Salesforce.
Learn more about Glance for Salesforce.com Here.