The Mythical VP Sales?

Bruce Cleveland, a general partner at InterWest Partners and an investor in Marketo, blogged about the Mythical VP Sales and Marketing. I dont agree that the VP Sales and VP Marketing cannot be combined.

The traditional VP Sales role is dying. Sales leads are generated by inbound marketing, and nurtured, not cold called. Marketo, Eloqua and Hubspot are three of the hottest companies in CRM.

Cleveland writes: "Sales and Marketing are vastly different functions that require substantially different personalities, skills, and decades of experience to master. "

That's was true 10 years ago. Today, the skills required of a VP Sales have changed. The decades of experience developed by many in sales are decades of inefficient sales habits. Sales cannot operate today without marketing. Marketo and Eloqua bring the sales function and marketing function together. Do the same for the leadership role. I'd argue that in today's sales environment, sales and marketing leadership must be combined.

Cool new feature: "SMS me the Lead"

Cool new feature: A sales prospect calls you. FastCall sends you SMS w lead name, company, phone, email and link to the Salesforce record!

FastCall Adds "ISR Availability" to Our Call Routing Applications

I’m so proud of our development team for making a big step forward in helping FastCall serve companies that are selling to local businesses.

This week we introduced Inside Sales Resource (ISR) “availability” into our call routing applications.

That means we can now serve our customers two ways:
1) FastCall is providing sales leads to the company’s inside sales force when they are available, and
2) Allowing our clients the option to offer THEIR customers a “reach me when available” service

The option of offering an automated process (the calls our system makes or routes) based on ISR availability is a big help to any customer that is trying to reach out to large numbers of businesses with a limited number of inside sales people.

Coming next: integrating ISR availability with email and Google AdWords

Whenever you can provide leads when your sales team wants them, and reroute during peak times or when the team isn’t available, it means your sales costs go down and your revenue goes up. And because the FastCall system can discern availability, companies can turn up the ‘cold calling’ that FastCall is doing for them when they have sales reps available.

BACKGROUND
FastCall clients double (very possibly triple) the number of sales presentations it makes thanks to FastCall.

FastCall triggers the first call in seconds, then automates a series of follow-ups sales calls until the business that requested information is served (whether that is by closing the sale, receiving the information requested, asked for a later follow up, etc).

We call this application BeFast (because it’s the fastest way to reach potential customers once they’ve shown an interest) and we’ve found that it takes those 20,000 calls to generate about 1,000 ‘connects’ when the prospects have time to receive a sales presentation.

If you’ve ever run an inside sales operation you know costly it can be to try to connect with someone … even someone who is interested. You get voice mail, people who are too busy to talk when you call, and frequently phones that aren’t answered.

The FastCall BeFast application has doubled monthly sales presentations compared to “dialed by hand” sales efforts.

Because FastCall can now work with ISR availability, we can also maximize connections to the sales reps using call rotations, overflow routing, email / SMS notification, etc. A CORE PART OF THE FASTCALL VALUE PROP IS CONNECTING THE HOT PHONE LEAD TO SALES W MINIMAL BREAKAGE / LEAKAGE.

Our system now learns when the ISR is available and adjusts itself.

This integration will enable FastCall to DOUBLE OR TRIPLE inbound lead presentation for clients by more evenly distributing the inbound lead flow through out the day and week.

FastCall will soon add “ISR Availability” to AdWords, email, etc.

Imagine how efficient it will make a sales process when we can turn up or down an AdWords campaign based on a sale org’s need for leads in near real time.

A few more notes about the recent release
FastCall will move a lead through the sales funnel from campaign to campaign so that we can touch the lead month-over-month. Just like a drip email campaign.

We also improve ISR reporting - logging “total talk time” and “total log in time”

A big congrats to the team!

FastCall411 Presents at Twilio Conference and Announces Second Round Financing

Twilio Fund Alum demonstrates powerful sales automation system on stage

LOS ANGELES, CA and SAN FRANCISCO, CA, September 22, 2011 - FastCall411 was one of three Twilio Fund alumni firms to present at the Twilio Conference on Thursday, where they also announced their second round of financing from 500 Startups, the fund created by Dave McClure. Twilio Fund is a microfund also created by 500 Startups.

FastCall411, an intelligent sales automation and analytics company built on the Force.com platform, works with marketing and sales organizations to optimize conversion from lead generation to inside sales. As one of the first companies to use Twilio’s cloud-based telecom API integrated into Salesforce.com, FastCall411 increases sales lead conversion up to 10x and is used by the leading firms working with local SMBs.

In addition to the second round funding from 500 Startups, FastCall411 received an investment from noted entrepreneur and angel investor, Gerry Campbell, who said the funding is a continuation of his ongoing support of FastCall411. As former GM/SVP for AOL’s Search and Directional Media Group, Campbell knows firsthand the difficulty in selling to SMBs.

"FastCall411 is in production and revenue with meaningful strategic clients; public companies with significant inside sales forces trying to reach the SMB market,” said Campbell. “I am impressed with the team - they are reinventing phone sales automation inside the CRM. And their association with the Twilio team is smart and timely.”

FastCall411 is the vision of three-time entrepreneur, Richard Rosen, the company’s CEO, who saw a need to add efficiency to the very difficult task of selling to small businesses over the phone.

"I am honored that 500 Startups participated in our current funding round, along with other notable angel investors,” said Rosen, who will be among the speakers at TwilioCon where he will present FastCall411 sales automation and analytics powered by Twilio. “With the Twilio voice API and Salesforce.com, we’ve put the sales phone system where it needs to be: inside the CRM. FastCall411 helps sales and marketing organizations drive efficiency into their small business acquisition efforts.”

About FastCall411: FastCall411 is a sales automation and analytics company that incorporates patent-pending intelligence to qualify sales leads quickly. FastCall411 integrates into existing sales funnels (i.e., website forms, AdWords) and triggers a call to each potential lead through Salesforce.com, scoring it based on any previous inbound or outbound call to that number. The leads, once they are ranked, are distributed to the client’s sales organization, making the process highly efficient. The software also contains a self-learning system to recognize phone records that have changed numbers, been disconnected or frequently do not answer a phone.

About Twilio Fund: The Twilio Fund (www.twiliofund.com) is a microfund created by 500 Startups and launched in September 2010 to provide seed capital to startups built on the Twilio cloud communications platform. Twilio Fund has made 10 investments to date in Callyo, FastCall411, KnockKnock, Magnolia Prime, Order Mapper, Proven, Qwipd, Textaurant, Voicendo, and Volta. The microfund is managed by 500 Startups founding partner, Dave McClure, an investor with experience managing platform funds. Dave previously managed the 2009 fbFUND Rev on behalf of Facebook, Accel Partners, and Founders Fund. 500 Startups is also an investor in Twilio.

Contact:
For press information contact:
FastCall411 CEO, Richard Rosen
323-799-4777
Richard@fastcall411.com

If you want to sell fast, you better call fast. Hello? Hello? Anyone there?

FastCall411 triggers immediate, automated sales calls to leads created within web forms, and other online events. The secret of inside sales is to touch the lead frequently and often. Our response rates on a call within seconds of lead creation is 10%. We place a second call an hour out; response falls by more than half to under 5%. A fifth and final call is placed one week out; response is 1%.

If your awesome sales team calls all your leads within the hour, we could double your sales presentation rate.

A so-so sales team? FastCall411 could lift inside sales presentation rate 10X.

Hello? Hello? Who doesn't love those results?

Harvard Business Review: Wait 24 Hours to Contact a Web Lead? Conversion to Sales Presentation Drops 60X

A Harvard Business Review study explored 1.25 million sales leads received by 29 B2C and 13 B2B companies in the U.S.

Firms that tried to contact potential customers within an hour of receiving a query were nearly seven times as likely to qualify the lead (= meaningful conversation with a key decision maker) as those that tried to contact the customer even an hour later—and more than 60 times as likely as companies that waited 24 hours or longer.

FastCall411 contacts a lead within seconds. One hour out, the lead is already half as likely to convert to a sales presentation.

"Call Fast - Sell Fast"

Most marketing organizations simply hand-off a huge list of names, then sit back and expect sales to call them..

Lead Scoring: "Most marketing organizations simply hand-off a huge list of names, or upload them to the sales database, then sit back and expect sales to call them all. After a few calls, most salespeople give up, deriding the leads as 'junk.' And so the finger pointing begins."

As your sales reps work furiously to stay afloat, they're becoming inefficient in their daily tasks... undermining the goal of doing more with less."

...hot leads are being thrown away simply because they're on the bottom of the pile of "junk" leads.

The key to effective lead scoring is formulating a way to capture information, score it, and measure it.

BANT: Budget, authority, need and timeline. - But, info gathering starts sooner.

Assign values by weighting actions based on their recency.

Benefits of lead scoring - decrease volume of sales ready leads.

FastCall411 funded by Dave McClure's 500 Startups Twilio Fund. Great validation.

Here's some pick-up:

socaltech
FastCall411 Gets Funding

programmableweb
Twilio Startup Fund Announces Seven More Winners

mashable
Emergency Hotline Service, Sexting App & More Find Funding via Twilio Fund

500 Startups
7 New Twilio Fund Winners: Fightin’ Crime, Helpin’ Seniors, Bringin’ Sexting Back.

Twilio blog
The Twilio Fund Adds Seven More Companies

Relevance and Customer Service in Mobile Local Search

FastCall411 believes that the connection of a phone call from a consumer to a local merchant is a proxy for relevance and customer service.

Google recently announced - in light of the "DecorMyEyes" NY Times story: A Bully Finds a Pulpit on the Web - that customer service will begin to weight the local search algorithm.

I wrote for DMNews:

"A new local search paradigm built on relevance, automation, and customer feedback is long overdue — and it figures to benefit consumers, merchants, and publishers in a big way."

- Ran in Dec '07

I was 3 years early.

Groupon sells local merchants with an offer that's easy to say "yes" to

Groupon is a stand out in a very difficult and competitive market: mobile local search. The company has earned its lofty valuation with its keen ability to find, sell and retain local merchants ahead of competitors. They do so with an offer to local merchants that is easy to understand, is time sensitive and easy to say "yes" to.

This week’s Businessweek ran a piece on Groupon vs OpenTable (with mentions of Yelp). Businessweek rightly asserts that Groupon earns its lofty valuation because of its sales efforts and proposes that the company’s ability to acquire local advertisers is its competitive advantage.

Groupon raised $135M in April - a significant venture round which valued the company at $1.35B. Backed with this war chest, the company has added hundreds to its salesforce and these folks are selling local merchants with great success. The company is also reaching consumers at a blinding pace and has nearly caught up to Yelp in consumer reach.

Yes, it’s impressive that the company reaches 8M deal-seeking consumers and has tapped viral word-of-mouth marketing, but they give away $50 for $25 and still spend heavily on Google and Facebook to do it.

Let's look at some of the numbers: Businessweek reports that Groupon now has approx 3200 employees with half (1600) in sales. I assume this is an error and that the company intended to report 1600 employees with 800 in sales. Crunchbase reports 1000 total employees.

Assuming 800 in sales and 230 cities served, the company averages 3.5 sales resources per city. The company's model is to sell one Groupon per day per city. That means each sales rep is selling – on average - 2 per week.

As a comparison to the analysts' estimate of $1.35B for the privately held Groupon, rumors swirl that Yelp turned down $550M from Google earlier this year and received an offer of $750M from Yahoo. While Businessweek reports 17M Groupon users, Compete has Groupon and Yelp fairly close (10M uniques for Yelp, and 8M for Groupon) Using the Compete numbers, Yelp is valued at $75 per unique user compared to Groupon's ~$170 per unique user.

If you believe the numbers, this is a significant premium for Groupon's ability to find, sell and retain local merchants.

Sophisticated Call Analysis will Help Advance Mobile Local Search – Including Monetizing Pay Per Call Leads

With Google's new third-party AdWords requirements adding transparency to AdWords resellers, there will be exciting differentiation among SEMs and mobile local search agencies. AdWords resellers will rapidly innovate and focus on lead conversion in order to differentiate themselves.

Sophisticated phone call analysis / call transcription is an example of this innovation and will help advance mobile local search – including monetizing pay per call leads.

Over at Screenwerk, Greg Sterling commented on how call transcription is driving pay per call:

“Stepping back, what’s clear is that the world of call measurement and analytics is getting much more sophisticated very quickly. These call analytics and data mining capabilities offer a range of benefits from SEM campaign optimization to operations and customer service. And pure “pay per call” services that are based entirely on call duration aren’t going to be competitive for very much longer.”

I agree with Greg that transcription has a role in the call analytics tool kit. However, despite the current buzz around this topic, call transcription is of limited use as a positive qualifier for a pay per call leads delivered to local merchants. Here's why:

First, let me address dirty calls. If the call measurement vendor does not have sophisticated filtering in place wrong number calls will obviously be bad leads for the merchant. I agree with Greg that call duration alone is not enough. But dirty calls rarely go over 45-60 seconds. Transcription can help identify dirty calls, but in this case its valuable as a method to eliminate the pay per call lead.

Next, let me discuss poor customer service by the merchant. If the advertiser-generated pay per call leads repeatedly result in unanswered calls, busy calls, or IVR or machine answered calls, these leads can be scored using transcription. These are not poor quality leads delivered by the media company, rather potentially good leads delivered to the wrong advertiser. As difficult as it may be to turn away an advertiser, the consumer is not served by an unresponsive merchant. And unresponsive merchants will ultimately churn as they fail to convert many of their leads. Transcription can help identify IVRs and answering machines, but again in this case its valuable as a method to eliminate the pay per call lead.

In the final example, the consumer has dialed correctly and the merchant eagerly answers the call. The parties speak. The caller asks questions: “do you…”. The merchant answers yes or no. Call duration will be an indicator of lead quality.

FastCall411 uses transcription to help identify wrong number calls, answering machines, IVRs and miscategorized merchants (lots of “no” answers). We use transcription to eliminate the lead, but not to positively score the lead. Transcription helps FastCall411 identify merchants who are underperforming (generally not responsive to calling consumers). We equip clients with the analytics to demote underperforming merchants and promote higher performing merchants. Doing so funnels more quality leads to the higher performing merchants. Does the pay per call provider have to transcribe BMW three times in the call to charge for the lead? Pay per call may have great promise, but not if leads are held to this standard.

When the mobile local directory delivers a warm consumer, and the merchant engages that consumer, its up to the merchant to close the sale.

FastCall411 develops the sophisticated tools – including call transcription and other analytics - to identify high performing merchants. These merchants provide the best service to consumers and are the best pay per call prospects.

FastCall411 "Hot Leads" Offers Mobile Local Search Directory Companies a Better Way to Find Merchants Who Will Advertise

Real-time, Call Analytics Enable Mobile Local Directories to Laser-Target Their Local Advertising Sales Efforts


For mobile local search directories, the challenge is two-fold: finding consumers to use it and simultaneously finding merchants to advertise.

“Hot Leads” is a very exciting call tracking program that helps directories laser-target their “hottest” merchants. With the right merchants listed in the mobile local directory, serving customers becomes much better.

Hot Leads, is similar to what management guru Peter Drucker advises:

“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”

FastCall411 helps directories know merchants that intimately. We track and analyze information about local merchants, help weed-out merchants who don’t answer calls, who keep people on hold, or who generally do not get and give value to consumers calling the business to schedule an appointment or with a other questions.

FastCall411 helps mobile local search directories define which merchants are Hot Leads and conversely which local merchants are cold, or unqualified:

• Hot Leads for the directory’s sales staff, because the merchants know how to turn a consumer call into a sale (a HOT advertising prospect, since they know the value delivered by the publisher)
  
• Cold or unqualified as good prospects to buy advertising in the directory because the merchant doesn’t answer their phone or frequently drops calls (a COLD advertising prospect since these merchants generally feel that 'this stuff doesn't work')”
  

For the first time, FastCall411 brings real-time, phone call analytics to mobile, local search – benefitting users, local merchants and FastCall411’s mobile local directory partners.

FastCall411 uses patent-pending phone call analytics to assign a quality of customer service score to service-oriented local merchants listed in local and vertical search directories. Our quality score enables FastCall411 to predict which local merchants are available to provide the best service to users. The highest scoring local merchants are also the best advertising prospects for FastCall411 clients. These are the hot leads for local search advertising sales. Everybody wins: the users, the merchant and the publisher.”

In a recent case study FastCall411 found that nearly 50% of the merchants were receiving 90% of the consumers’ phone calls. Eliminate the bottom 50% of the merchants who receive almost no calls and you’ve doubled your users’ chances of a positive experience when calling a local service business. You’ve also doubled your sales teams’ chances of finding a hot advertising prospect. FastCall411 data provides clear, actionable insight into our client’s best performers.

Further, FastCall411 applies near-real time analytics – including call transcription – to identify customer service issues for our clients. Businesses with repeat unanswered calls; repeat busy or repeated calls going to answering machines are under-performers. For many reasons, these businesses are not available to service our clients’ users. If the business is identified as miscategorized, out of business, or otherwise not relevant to the directory and user, FastCall411 flags these merchants for removal from the search results.

The top-performing merchants – the Hot Leads – are delivered as a dynamic sales list updated in real-time in Salesforce.com or another CRM application. Nowhere else is this real-time quality of service scoring and targeting available within mobile local search.

Announcing FastCall Networks - Niche mobile local directories powered by innovative voice applications

FastCall411 -- targeting the $200+ billion local search market with innovative and disruptive voice 2.0 applications -- is preparing to launch a groundbreaking network of mobile local directories. Each targeting a specific consumer need, and launched with an industry partner, the niche directories will be populated with dynamic pools of "Verified as Available" local service providers. The FastCall Network directories offer strategic partners a turn-key mobile local search directory.

The first FastCall Network directory is FindATow.

Consumers benefit from the FastCall Network directories with fast and efficient local search connections. For merchants, voice 2.0 applications and real time phone call analytics drive more customers at the point of purchase. And for partners, satisfied consumers and merchants equals higher advertising yield.

With a fresh, bottom-up approach, innovative voice 2.0 applications connect consumers - by phone, email and SMS - to relevant local service providers available to satisfy consumers' mobile local search requests. FastCall411 analyzes phone call answer rates, consumer reviews and other consumer satisfaction criteria. The FastCall Network is also the first and only mobile local search directory to broadly introduce availability into local search. Not only will we find the specific local merchant specialist (i.e. tankless hot water heaters, divorce lawyers, motor scooters) but we will find specialists that are available, ready and willing to serve the consumer.

As consumer demand and merchant supply are matched in near real time using FastCall411's innovative voice applications and phone call analytics, FastCall Network directories will achieve a near 100 percent success rate in knowing which merchants are active and eager for leads.

Hot Leads and Fast Call Back, our automated local advertiser acquisition applications, drive highly targeted and efficient advertiser acquisition. The pitch to advertisers is simple and scalable: Pay a fee to continue to receive “hot,” valuable phone leads from our mobile local search directories and partners.

To date, the deficits in mobile local search have lead to a poor experience for the consumer, inefficient lead generation for the merchant and ineffective advertiser acquisition for the mobile local directory. Taken together, efforts to monetize lead generation to the local merchant have been a disappointment.

The challenges begin with relevance and availability - the missing links in local search. Searching consumers suffer with out-of-date, inaccurate and poorly categorized local merchant listings. Subcategories represent consumers' actual intent but they get lost in the overly broad, yellow page-based local search taxonomy. And availability? Consumers have no indication if local merchants are available – or even still in business. Merchants are poorly served with too few and unfiltered leads and little control over or visibility into the source of their leads.

And while I estimate that hundreds of millions of calls originate monthly from local search queries, as many as half of these local mobile search calls will not connect to the local merchant for many reasons including those stated above. Redirecting or recapturing those lost calls is a huge lead generation opportunity. The hundreds of millions of phone calls originating from mobile local search represent an invaluable source of untapped analytics, a super efficient marketing channel, and lay the groundwork for unsurpassed user reviews.

Fast Call Back - The easiest way mobile local directories will ever have to automate merchant acquisition

I just posted a demo of Fast Call Back - The easiest way mobile local directories will ever have to automate their sales process:

Call: 323-405-7948 (as a consumer) and listen to the message...

1. Receive an automated call back (as a merchant)
2. Press 0 for sales (connects to my office); 1 to rcv info by email; 2 to rcv info by SMS
3. Close the sale!

As soon as the consumers call is over, our automated FAST CALL BACK, places a call to that same merchant. This is the easiest way mobile local directories will ever have to automate their sales process.

The directory has just shown the merchant how effective the directory is with the consumer call. Now they can conveniently get information by live sales, email or SMS.

It's simple. It's fast. It's effective.

Want to test Fast Call Back using a PBX or blocked caller ID? Go to Fast Call Back and use the click to call demo. In a live application FastCall411 is always able to call the merchant using the merchant's phone number. This 323-405-7948 demo relies on your caller ID.

New FastCall411 Feature: Transcription

FastCall41 uses speech to text transcription to transcribe voice mails and other spoken conversations. Transcriptions can be sent via SMS, email, available via API, or integrated into Salesforce.com.

FastCall411 utilizes transcription in our outbound automated calls to identify if an IVR is present on a merchant’s phone. This is important because when calls are branded (i.e: “this a call from …”) a live person must answer to hear the branding. Further, FastCall411 research indicates that consumer’s prefer merchants who are available and who answer their phone.

FastCall411 also leverages transcription on our Fast Call Back application. In the Fast Call Back application, we automatically call back non-advertising merchants after a consumer’s inbound call. When combined with branding, the idea is that the merchant:

1) received the call;
2) heard the branding and
3) can respond for more information

Fast Call Back enables merchants to leave their email address to receive information about our clients' advertising programs.

To try out transcription, send yourself a call and chose option #2 to receive information by email. We will email you the transcription and additional information of FastCall411.

http://fastcall411.com/fastcallback