Sales are the lifeblood of any successful organization. Without the ability to generate a constant stream of revenue, a business stands little chance of survival.
Over the past eight quarters, Domo’s sales team took its game to a whole new level—and the result was unprecedented growth for the enterprise software company.
So, what happened? How did the group find another gear and reach heights it never had before? By unlocking all the virtues of its own modern BI platform, it turns out.
“We had the data, and we were using Domo very well,” Ian Tickle, Domo’s chief revenue officer, said during a recent Domo webinar. “But I just felt we could be a bit more effective if we could set higher goals, higher objectives.”
So, that’s what Tickle (pictured, above)—who stepped into his current role just over two years ago—and his team set out to do. It didn’t take long. They simply looked at the thresholds they needed to meet. Then they picked the 10 metrics that would most help them meet those thresholds.
“Now we’re able to run predictive models on those thresholds,” Tickle said. “That’s massive. You have to be able to look at trends that are happening in advance so that you can take action before they actually do happen.
“A quick example there is with (sales) pipeline. There’s no point in me finding out that pipeline is up or down. But what about the leading indicators? What about the open rate on an email campaign? What about web traffic? What about conversion rates? What about the amount of people coming in for a free trial? All of that goes into Domo, and we run predictive models on it.”
Domo’s sales organization is also using Domo to do more root-cause exploration.
“I like to think of it as analysis by train of thought,” Tickle said. “I don’t know what the problem always is when I start to look at the data. But if I drill into the data and do that analysis, I can begin to understand where I want to go or the behaviors that I want to change or enhance.”
The Domo platform has even changed the way Domo’s sales team carries out its quarterly business reviews (QBRs). Instead of working from PowerPoint presentations, the org is guided by a page that is easily accessible to all and powered by real-time metrics that matter, leading to faster and better decisions.
“And because we track things like forecast accuracy now,” Tickle added, “in the QBR, we can see, over the trailing two years, the accuracy of a rep to a manager to an RVP (regional vice president) to a VP and even to myself—and look at the forecast submissions that they put in every single week.
“I can look at what they said their low was going to be, what their high was going to be, and what it ended up being. And then, from there, I can extrapolate how accurate they are in their forecasting, and when they became accurate in their forecasting. It’s just a much more efficient way of working.”
Watch the webinar to learn more about how the Domo sales team is using the Domo platform—including its artificial intelligence (AI) and machine learning (ML) capabilities, and customer-focused app—to grow the company’s market share in a highly competitive landscape.