FullFunnel Creates New Processes so GLOBO Can Scale

Overview

GLOBO Language Solutions, a software company providing language solutions that leverage technology, qualified linguistics, and data insights sought to expand its market share and accelerate growth. While inbound marketing had been the primary revenue driver in recent years for the sales team, GLOBO had several account executives and senior sales assets also struggling to scale their outbound efforts. To diagnose and address these issues, the company engaged FullFunnel for an outside perspective on the demand generation struggles. FullFunnel's assessment revealed fragmented teams and roles that lacked structure or process within the company's entire Revenue Operations (RevOps) group.

The Company

GLOBO is a private equity-backed language interpretation services company generating over thirty million dollars in annual recurring revenue and provides on-demand language services across a spectrum of industries. The company offers over 430 languages for translation and interpretation with an average connect time of under 10 seconds, compared to the industry average of around 90 seconds. With over 80% of its revenue coming from the healthcare industry, the company has maintained its success due to the healthcare industry's demand for 100% accurate services for proper diagnosis and treatment.

The accuracy requirements in the healthcare industry are much higher than those in industries such as education, hospitality, and retail, where a lower level of accuracy, typically around 90-95%, is sufficient. This difference in accuracy requirements creates market congestion in these industries, as inferior products can still meet the needs of their customers. The high requirements in healthcare is where this client shines, able to achieve the 100% threshold. While this industry is a main driver of business, the sales process in healthcare is complicated by the fact that most healthcare providers and hospitals operate on an RFP process and timeline.

While GLOBO has achieved success through inbound channels, their outbound efforts have not yielded similar results, prompting them to engage FullFunnel to improve their sales, marketing, and customer success processes.

Challenge

Upon approaching FullFunnel, GLOBO had a Director of Sales and three Account Executives but lacked a BDR layer to fill the top of the sales funnel. While the marketing team was generating demand through traditional digital marketing channels, they were working their own leads separately from the sales team, who were tasked with sourcing their own leads and setting their own meetings. This led to several issues such as no closed-loop feedback system on leads, no warm inbound leads for the AEs to work on, and a 25% demo utilization rate at the Account Executive layer, proving to be financially unproductive and inefficient.

After conducting a thorough analysis of the sales function, FullFunnel quickly identified that the team lacked a proper lead-to-close selling process and was not effectively utilizing the CRM, resulting in the absence of historical sales data. The Account Executives were working on a "choose your own adventure" philosophy, leading to inaccurate and disparate data, rendering reporting and analytics impossible.

The client's CRM usage lacked best practices and sales industry standards, with no real pipeline, forecasting, tracking of lead progression, sales activity, or any other key metrics. These are all foundational building blocks necessary for any productive demand generation program.

With inefficiencies at almost every stage of the sales process, it was unsurprising that the client's sales program struggled to scale and achieve the goals set by stakeholders and investors.

Solutions

FullFunnel conducted a comprehensive audit and discovery process to gain a deeper understanding of the client's metrics, team composition, strategy, and historical results. Based on this audit, FullFunnel identified several critical areas that required immediate attention, which are outlined below:

Team Composition

The lack of a BDR layer within the sales team hindered their ability to focus on creating and closing qualified opportunities. As a result, the Account Executives spent valuable time on prospecting, reducing their demo utilization rate to only 25%, compared to the typical 75% utilization rate. To address this, FullFunnel hired three BDRs to work with the sales team on two main objectives: setting qualified meetings and mapping out the RFP processes for targeted accounts in the healthcare space. This led to increased demo utilization rates and a better understanding of which hospitals to prioritize outreach to, based on the RFP information gathered by the BDRs.

Technology & Enablement

After thoroughly auditing the client's CRM environment, FullFunnel developed a comprehensive plan to optimize the system and set the team up for success. More than a dozen process changes were implemented, with a few key highlights outlined below:

• The sales team was provided with clear processes for accurately tracking their daily sales activities in the system
• Enablement tools were integrated to ensure calls were recorded and dials were automated
• Leads were separated from qualified contacts and opportunities, allowing for clearer pipeline reporting and forecasting
• A CRM process document was created, providing the team with a step-by-step guide on how to effectively use the system

FullFunnel also implemented custom fields in the CRM to track relevant RFP information gathered by the BDRs, and set up reports and dashboards to monitor the entire sales function.

Fixing the Account Executive Function

FullFunnel conducted an extensive analysis of the client's team and processes, and discovered that many of the issues stemmed from a lack of best practices and processes at the Account Executive layer. To address this, FullFunnel worked with management and the Account Executives to map out their existing processes, identifying 15 necessary changes. The team then created a plan to implement these changes systematically over the course of two months, allowing for effective training and continued compliance.

FullFunnel monitored key performance indicators (KPIs) to ensure compliance with the changes and set up dashboards and reports for ongoing monitoring.

Training & Professional Development

After implementing new processes, FullFunnel identified a need for training and development for the client's sales team. To assess the team's basic sales skills, FullFunnel conducted a Sales Training Diagnostic. This involved meeting with the individual reps, listening to their recorded calls, and grading them along a range of basic sales skills. Based on the results, custom group training sessions were designed and rolled out for both the SDR and AE groups. FullFunnel also worked alongside the client team to tailor these trainings to coincide with the new processes that were being rolled out.

To ensure that the training is being applied to real conversations, FullFunnel's training and development team continues to work with the client team on a weekly basis. This helps to not only ensure compliance with the new processes, but also to uncover additional areas for training and development.

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