Timo Rein Posts

How Increasing Sales Velocity Will Radically Improve Your Sales Results

There is one secret to sales improvement seasoned sales pros know and follow. Everyone with years of experience under their belts keep repeating this: you should increase the speed at which you work a deal. Push deals quicker through the sales pipeline. Drop the wrong prospects early. Get to NO faster. That’s the mantra.

There are three lessons to learn about sales velocity.

  1. How does deal velocity affect your sales?
  2. How to increase deal velocity?
  3. When to declare a deal lost?

The outcome of these lessons will teach you an important principle that has received very little attention in sales literature – without any other changes to your habits, increasing your sales velocity is the one thing that will radically improve your sales results.

That’s to say that sales velocity is something you should really learn about. (more…)

The Friday Opportunity: Big Data Shows The Weekday With The Biggest Sales Potential

As once a sales pro and sales coach, I know what a difference having good data can have on sales results. Whenever I looked at things like the amount of deals added, or the number of sales activities completed, there was almost always something that jumped out as an area of improvement. For example that “Fred should make more calls”.

There’s no agreement about the best day to sell or prospect. In an article for Forbes, the sales writer Christine Crandell argues that Wednesday is the best day for prospecting while noting that customers don’t convert well on Mondays or Fridays. Jake Atwood from BuzzBuilder lead generation software has found that the best day for prospecting is Tuesday in their Slideshare. Finally, the sales company Vendere Partners’ statistics say that the best time to call is either on Wednesdays on Thursdays. (more…)

Americans Aren’t The World’s Best Closers And What This Means For You

With customers in more than 150 countries, you really start wondering:

  “How different is sales work around the world?”

With some data and time on our hands, we started looking into it and went on a quest to find the best sales nation in the world.

What we discovered was that we can’t trust stereotypes. For example, Americans simply aren’t the world’s best closers. But that’s not the whole story – we realized that some numbers in isolation can be misleading.

We pulled anonymized meta-data generated by Pipedrive users all across the world about # of deals that were added and closed; # of activities that were initiated and marked complete, and so on – and put it in a really large database. We sliced up the data by country and removed all outliers. What we got was a clean view about the differences in conversion, length of the sales cycle, and levels of activity around the world.

Now come and see how people sell all around the world.  (more…)

Should you work harder or smarter in sales?

High sales performance requires a dynamic combination of hard and smart work… Duh. Everyone knows that. Most, however don’t know what that proportion between the two should be. Why do you perform the way you do? Could you improve? If yes, then how? These questions keep popping up whenever I hear this subject discussed. Luckily, I have an answer for this – I know whether you should be working harder, smarter, or both.

Where do you start

There are 4 sales pipeline levers that add up to achieving better sales results. The principles behind those levers are simple, and they lead to a conclusion that is relevant for all salespeople. The more deals you’re able to drive through your pipeline (#), the bigger they are ($), the better the percentage of them you are able to close (%), and the less time it takes to get a customer (T)… the bigger your revenue and your profit. (more…)

Andy McLoughlin joins our board

As you may have noticed, we’re growing fast both in terms of number of customers and employees. This means we have to get better at everything all the time, and this includes setting the longer term course for our company and business.

Andy McLoughlin - Hy! Summit - March 20, 2014 - Image by Dan Taylor-2I am therefore extremely pleased that one of our earliest investors, Andy McLoughlin, has joined the board of Pipedrive, Inc. Andy is co-founder of Huddle, one of Europe’s most prominent and awarded SaaS startups with offices in London, San Francisco, New York and Washington DC. Andy is also a highly active angel investor, working with great SaaS companies like Pipedrive, Rolepoint, Apiary, Buffer, Intercom, Bugsnag, and Import.io, as well as exciting B2C startups like Postmates, Thread, Hullabalu and Secret Escapes. Andy lives in San Francisco, is an enthusiastic (rather than skillful) skier, and an avid consumer of fine food and adult beverages.

In his own words:

“I first met the Pipedrive founders in 2011 and was immediately impressed by their hustle, vision and early metrics. Having participated in their first two seed rounds, I’ve been lucky enough to stay close to the team and watch the company mature into the great business that it is today. Joining their board and being a part of their continuing journey is a huge honor and I’m excited for their next phase of growth.”

Andy has been very helpful to us as a seed investor, and I’m really excited to be working with him on this slightly more formalized level as well.