This post is part of a series of Executive Interviews of top sales and marketing solutions company executives. We ask the same questions of every executive so readers can learn about their unique positioning and their vision for the industry.
This week I interview Garin Hess, CEO of DemoChimp.
Nancy: What does DemoChimp do? What problem/s are you solving for sales and/or marketing organizations?
Garin: DemoChimp is software intelligently automates product demos, so sales people can spend less time demoing, and more time closing sales. Marketing teams have told us that they need their leads to become better educated and more qualified, and sales people are always searching for ways to be more productive and close more deals – and both need deeper insights into their prospects’ buying interests.
Nancy: How does your solution uniquely address the problem (or in what way do other solutions fall short from solving the problem)?
Garin: DemoChimp’s personalization engine that intelligently configures a demo to each prospect’s unique needs, just like an expert salesperson, so that when a prospect and sales person meet, they can get right to closing conversations. DemoChimp also tracks insights into a prospect’s buying interest and their behavior during the demo, what we call Demolytics™, so they can more intelligently lead prospects to close.
But here’s my favorite thing: when prospects share the demo with others who are weighing in on the purchase decision, we capture that too so that our customers can uncover, engage and track the buying panel. Can you imagine a sales force that had few to no repetitive sales conversations – only specific and personalized closing conversations with the right people in the buying panel? That is what we’re creating.
Nancy: What’s the most important thing that today’s business decision-makers should look for (or ask, or consider, or solve)?
Garin: You already automate a lot of different aspects of your sales and marketing process. Why continue the labor intensive live demo? Live product demos and repetitive sales conversations can be a huge drag on growth. Consider the portion of prospects that engage with a sales person or receive a product demo and don’t buy.
The wasted time and resources on these prospects is staggering when you actually calculate it (most don’t bother). That’s why we built DemoChimp, to help companies take advantage of this untapped source of sales productivity.
We’re unlocking that additional revenue growth that companies could have with the exact same sales force but are currrently leaving on the table.
So, today’s decision-makers shouldn’t be looking for more data, or even more analytics to understand that data, they should be looking for more ways to actually put that data to work every day to run their entire business.
Nancy: What are you most excited about for the next 12 months?
Garin: The success stories we’re seeing already should only improve as we continue to expand our solution. We’re hearing about 65% sales productivity increases. I’m hopeful that in the next 12 months we’ll see that rise to nearly 200% productivity gains across our customers’ sales teams. We’ll see if we can make that happen–we think so. That’s the way it’s trending.
Nancy: What do you think is the biggest underlying theme or trend for sellers and/or marketers in the next 12 months?
Garin: Personalization. As the noise level continues to rise in competitive markets everywhere, personalization will be key to continue marketing and sales growth. That is where we are putting our stake in the ground. Churn and burn may be a thing of the past, and expecting your prospects to slog through mountains of text content before making a buying decision is less and less realistic. Surgical precision–right message, right time, right sized–all personalized, and using the most capable medium–that’s video, not PowerPoint–is the answer.
Nancy: What would you challenge sellers and/or marketers to think about for the near term?
Garin: Before you hire that next person, make sure that you’ve analyzed your marketing/sales technology tool kit. Be sure you’re efficient with your current team before you add more. Whether it’s DemoChimp, or other tools, you might be surprised at the increase in revenue growth you can gain for a fraction of the cost of another employee.
For example, everyone knows that you need to use social or professional network data to help sales, but that’s not helpful. Helpful is telling your salesperson that the decision-maker at Company X was promoted yesterday, that their replacement is connected to them via a colleague in your customer service department, and then give them the replacement’s accurate email address so that they can reach out today. That’s helpful.
Note: To learn more about DemoChimp, watch their own automated DemoChimp Demo.