Videonor – Cutting Sales Development Ramp-Up Time

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How Videonor Cut Sales Development Ramp-Up Time from 90 Days to 30 Days

 

Case Summary:

  • As of the time of publishing, over 120 Sales Development Representatives have Completed LaunchSource’s pre-hire Elearning.
  • Videonor, Inc. used LaunchSource to accelerate the ramp-up time of 2 Sales Development Representatives from 90 days to 30 days.
  • Metrics for one SDR with no previous sales experience, who went through LaunchSource’s pre-hire Elearning, were tracked during the first several months of employment.

 

“Exclusively partnering with LaunchSource to fill all SDR roles here at Videonor has been one of the best decisions we’ve made. As an early stage SaaS company, our SDR team is one of the most valuable assets to our organization, essentially acting as the face of the company with new prospects.

LaunchSource has taken the guesswork out of whether a candidate will succeed, fail, be motivated, want to be in sales, etc. The 12 module training program really set the tone for them and allowed them to hit full ramp in less than 2 months, which in my experience is unheard of.”

Philip Wilkins, VP, Sales, Videonor, Inc.

 

Problem

Industry-standard ramp-up time for SDRs is 3.8 months1. This is problematic because of the cost of carrying employees during this time of suboptimal productivity, as well as the opportunity cost of missed sales opportunities that aren’t capitalized on during this time.

 

LaunchSource Elearning Approach

LaunchSource’s SDR pre-onboarding Elearning was developed by millennials for millennials, using a blended approach that incorporates all 7 main learning styles to maximize comprehension. While many reputable sales training products exist in the market, LaunchSource has developed the only SDR-specific program that was developed specifically to reduce time to productivity for entry-level SDRs.  

LaunchSource follows up with placed candidates at several intervals post-hire and asks what skills would have made them more productive on their first day. This feedback is continuously incorporated back into our Elearning, further enhancing the product’s effectiveness.

A key distinction is that LaunchSource’s Pre-hire Elearning is not meant to replace any training offered by their employer, but rather to precede it, so that the new hire becomes more productive starting on day #1.

From start to finish, most candidates complete the entire training in 3-6 hours.

Curriculum Overview

Module 1: Introduction

Module 2: BDR Essentials

Module 3: Sales Has Changed

Module 4: The BDR Role

Module 5: Technical Tools

Module 6: Sales Development Business Case Exercise

Module 7: Prospecting and the Ideal Customer Profile

Module 8: Crafting the Unique Value Proposition

Module 9: First Contact:­ The Email

Module 10: Voicemail

Module 11: The Call

Module 12: The Debrief

Final Assessment

Final Signoff and Additional Coaching if needed

*(Curriculum as of May 2016)

Results

  • Videonor’s new hire had a clear understanding of the path for a BDR and how it aligned with his goals.
  • The new hire demonstrated a very clear understanding of the differences between inbound and outbound sales. That understanding coupled with the understanding of the value of qualifying prospects, allowed him to come in on day 1 and focus on what’s important, the outputs.
  • Qualified meetings were booked, discovery calls were completed and revenue was sourced. His ability to focus on activities that mattered versus just hitting the phones without real purpose allowed him to hit full ramp in less than 2 months.

 

“Within his first month, [our new hire] was writing blog posts about our industry, how we’re different from traditional solutions, and using the posts to show thought leadership and build his personal brand among prospects.”

 

Metrics

Weeks 1-4:

  • E-touches (email, InMail, Social): 1,331
  • Cold Calls: 671
  • Sales Qualified Meetings (SQM) Booked: 12
  • Revenue Sourced: $15,600 (ARR)

Weeks 5-8 (including the Christmas holiday week)

  • E-touches (email, InMail, Social): 3,215 (Increase of 142%)
  • Cold Calls: 1,135 (Increase of 69%)
  • Sales Qualified Meetings (SQM) Booked: 17 (Increase of 42%)
  • Revenue Sourced: $51,600 (ARR) (Increase of 231%)

The first week in the role is training based on company sales playbook, meeting with the various departments and getting comfortable with terminology. A lot of time with new SDRs is spent on understanding company Ideal Customer Profiles (ICP). This is key in lead generating and prospecting and within his first 4 weeks, During this time, the new hire added 1,138 prospects to the CRM and began outreach.

 

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Notes and Sources:

  1. https://salesloft.com/resources/blog/2016/04/sales-development-recruiting-tips-for-drafting-an-all-star-team/