Mindjet is a platform to drive enterprise innovation at scale by providing the platform to build sustainable, predictable, and repeatable innovation process. Mindjet is headquartered in San Francisco with offices throughout the US, UK, France, Germany, Japan, and Australia and has over 100 enterprise sales reps.
Mindjet brought in a new data driven sales executive, Todd Clyde, to drive the next stage of revenue growth for the company. Clyde came to Mindjet as a seasoned leader in the B2B enterprise software space and is known for his ability to define and articulate sales/market strategy based on performance data.
Challenge: Given the challenge of driving significant revenue growth, better quarterly revenue consistency, and merging sales organizations from two distinct companies, Todd capitalized on the opportunity to optimize its sales culture from the bottom up – creating merged objectives, process and platforms for a high-performance sales organization.
After a few months of analysis, Todd concluded that in order to develop accurate forecasts, the company must improve data quality and deal visibility. He understood the root cause is based on lack of rep data entry as they hate to be tied to desktop and a stale UI.
“DealSignal does what we need” and replaced other products to achieve better results. “And that saves us a great deal of time and money”.
-Todd Clyde, SVP, Sales Mindjet
Todd needed to fix his data, processes, get his reps engaged in accounts and drive more deals in the first year.
What – To achieve his goals he concluded that he needed four key items from the new sales organization –
- Collect and enrich CRM with data that will help Reps sell more effectively – add more real-time, relevant and actionable information about target prospects based on actual task level data in the CRM system
- Drive Reps to engage and advance deals, using data from past wins and losses to determine ideal customer profiles, target prospects, suggest milestones and activities to advance deals
- Reduce non-selling time and increase effectiveness of engaging prospects, using tools that integrate Email, Calendar, CRM and everything publicly available about a prospect or customer,
- Increase forecasting accuracy, to provide better forward guidance to the Board and Executive Staff, as past performance had been very un-predictable
How : Todd sought to apply big data and machine learning to sales, like Mindjet applies to Innovation.
Todd licensed DealSignal to help solve his challenges after researching other products in the market place as “DealSignal pretty much does what we need” ““DealSignal optimizes sales automation the same way a tool such as Marketo optimizes marketing automation and was exactly what I was looking for”. Both systems use a similar scientific approach to prospect engagement driven by big data and predictive analytics over time. Based on three years and terra bytes of CRM data, we have been able to improve the level of accuracy in our forecasts; achieving our goals.
All Based on DealScience, DealSignal has three components and real-time connections to CRM and Marketing Automation systems:
DealPulse, a delightful, data-driven native mobile app designed to help Reps sell more effectively and collect data for forecasting in DealCloud
DealCloud, using DealScience and predictive analytics to create and DealScore, rules, suggestions and alerts in DealPulse and DealDirector
DealDirector, a Web-based predictive analytics app used by executives to enhance and inspect deal performance in real-time
“When comparing the DealSignal predictive analytics models and SFDC forecast models, we expect DealScore to be significantly more accurate when viewed over time.”
-Todd Clyde, SVP, Sales Mindjet
“With DealSignal products, we are able to save money on redundant applications, save rep data entry time to and considerably improve forecast accuracy with quality and actionable data.”
The company has been very responsive to our needs with both the product and services teams.