Notes

From time to time, I'm eager to check what's on the market in the area of say support. Of course, we would love to even though grove our revenue through the roof and see, you know, have millions of the clients and the biggest company in the world, of course, a bit of joking. But the story I'm trying to constantly looking to improve our sense, see what we can do, better, see if there any tools that can support our companies that can support us and later reevaluate, think if it's worth the in the hospital and how does it work? And so on. Yeah. So in general, we work with some companies have been guessing indices area. But I would say, you know, there's always a potential that there would be a better one. Yeah.
Absolutely. Absolutely. Could you maybe share your experiences with these other vendors, you know, or some of the positives that came out of engagement? Some of the negatives?
Yeah. There we have companies that are, you know, hoping cast with setting appointments, we have a solid enterprise and enterprise to be being our agents. We have some tools that are helping us with mailing cold calling and so on. So that I think quite standard things… from what I've read about you use it since you are quite big campaign. Then this was something that brought my attention… like to see what's your business model. How can you, how do you work? I have to say of course, that we down a lot of companies that maybe not similar to yours but helping us with the sales because what we are mainly looking for is someone that will in the, we have to evaluate the in the value for the money and… preferably have some hospital free corporation. So when we start with like, you know, two months of building our, I don't know favorite client or something like that probably will not go that way. We can make it much faster with less engagement from our perspective. Yeah.
Yep.
Absolutely that, you know, you mentioned absolutely the target I think the day is to grow their revenue. Now? Is that the most, you know, crucial priority for right now for yourself or is there any other things that are also, you know, equally as important with that?
There is, and that's it if we can grow revenue with less work on my side or my team, it would be the perfect things. But in general for says we are revenue driven client driven we want to, you know, grow company, our company, make revenue better and…
Absolutely.
But I assume the more potential client we have, the more picky we can be and of course, then look for the clients, there are a bit bigger. But with the, even though quite smooth and the nice corporation, we've had clients that are with us for a long time and we don't value customers the things that they're big enough to be a pain in the S for us. We prefer to work and peaceful manner. Yeah.
Yeah, absolutely.
So we are the component that sometimes turn down the client because we say, OK, it's not worth bye.
Absolutely. Absolutely. A few more questions from my side, I know I have one party view with them and then I'll open up.
From me, it's fine. And then we will have to know something about us in order to see if you can help us to build the, you know, to talk about the things that we value, not the things that we don't carry up at all. Yeah.
Yep. Absolutely. Not. You know, in order for you to be able to, you know, hit that revenue target for this, do you have a great idea as to how many meetings you're you know, sales representatives need to have in order to get you to that target?
In general, we don't work here like on this tweet targets in or what I'm thinking is ever sense in our team should reach to at least having a 2025 developers in their portfolio of clients. This will be good and this will be, I think achievable from the level, of course, if there would be more skilled, it can increase. But I think this is the sweet spot that you're not working like Twitter for seven and a decent amount of money. And this is the, I would say the goal for like one year from now?
Yeah, understand.
The company goal is to grow to the end of the year for next for two people. Yeah. OK. Yeah, you can be two projects. It can be like five, two, six products.
Perfect. And in terms of, you know, the urgency around this initiative of yours by when you have to have a concrete idea with the solution.
So, in general, it would be good… if we reach this 40 additional developers to the end of the year. Yeah. In terms of meeting… it really depends like when we are setting up the meeting for ourselves and we find on that meeting that the client wants to serve. This is that we can provide, we rarely lose this client. Yeah, this is very rarely that they would choose different company that hours. The most crucial thing because the quality of the meetings because I've been working progress the, in the company that was meeting oriented and I can easily can you think having like 10 meetings and all the meetings are, you know, a waste of time. Yeah, I can, I have a handful of clients that I know that the, when I call them, they will arrange a meeting with me instantly, but I know that they will not by anything.
Right.
There done that has a t-shirt approved with you?
Yeah, absolutely. And this industry especially in sales, you know, seeing all walks of it. So, in terms of what you would like, you know, Marcin specifically to get out of this conversation, is there anything you'd like me to address?
Or?
So, I would like to see how York, what exactly is that you do? What is… what, what's in it for you? So, what is the settlement call though? Do you want, you know, we're a lot for the meeting or do you want? I don't know. No, we agree on the success fee from the sun pro projects as.
Absolutely.
It does work.
Absolutely. Yep. Mid level overview. Ultimately, what we do here, so square is helping going tech companies ultimately scout, you know, insurance, sustainability by providing qualified sales opportunities for qualified meetings with the ideal persona and the customer that we are targeting within whatever market stuff. Now, we do that by providing that dedicated team of SDRS, like what about that multi channel approach strategy that you already have some experience with, right? So what that entails is cadences, personalized messaging via LinkedIn, likewise with cold emailing. And on top of that, also taking it a step further and cold calling, sure we have that pitfall pre qualification phase. We have the right people like you mentioned earlier, you know, yeah, but, you know, you can with a few clients where there's not gonna be any fruits at the end of the.
So.
Ensuring that we have somebody that has a need fits that criteria that you're looking for certain trigger events and providing you with the opportunity to close the deals and, you know, stretch for that revenue growth that you will before I go any further, does that align with what you've you know, headline in English?
In general, yes.
Perfect. Fantastic. And ultimately, you know, you mentioned how does the reward get field? And ultimately we expect from our SDRS to be the minimum expectation for that to be what you're most productive business development manager or representative is able to produce ultimately like to keep it realistic and ensure that we have something that's feasible in terms of the go to market strategy. So that level of expectation would be for an example, if your best performing media is producing 10 qualified meetings on a monthly level, we would base the reward compensation our SDRS on the performance of obtaining that number.
So something generic, this one interrupt a bit. We are not, and I'm not… evaluating my BDR VMS in terms of meeting that they scheduled. Yeah, absolutely. From my perspective, it can be one meeting monthly if it will turn into one client monthly. So I would prefer to set up on success, not with the meeting but the client. This is what we usually do with our agents on our other account.
Yeah, no, absolutely. That ultimately does come down to how qualified and verify have leaned on our job to ensure that we have the right people come to the meeting. Like you just mentioned, a no show is also not good enough. Our SDRS are responsible for the meeting occurring and it being satisfactory to the executives. Though now having said that anything after that fact ultimately is out of our SDRS VDRS hands. And therefore seeing, you know, the success of our SDR based off of deals closed, it's not ultimately the most realistic way to measure their success ultimately will go. Sorry, go ahead.
If I could jump in while I still have my voice here, Marcin, this is a great, you know, this is a great way to look at it from your point of view. It looks like your VMS are both generating pipeline but also taking the meetings and why we should do deals, right? That's how you structured, right? Well, the key difference here is that our SDRS, they increase significantly the productivity off to be the answer that they work, right? So what that means is if you look at, you know, salespeople, there's never to perfect salesperson. There's always somebody that you're good at networking, but then they cannot close to be. There are some people that are credibly effective when it comes to closing the deal, but then they don't really want to put all that grind work into actually generating the pipeline, etcetera. And of course, the key to success is Francis, right? So, our SDRS data and close deals. However, what they do is they learn, OK, what have been the best meetings that you guys have had in the last year? What is the, I see, what is the persona? What is the timing? All of the key things that are important to classify a lead as a must win late?
Then…
What they do is simply, they book the meetings for your VMS to execute active flows to deals, right? So usually, yeah, I just wanted to make that very clear. I know software has started but, you know, there is a slight difference between the PDF as you see, and the business development rep as we speak.
Yeah… yes, thank you.
Hello.
Any questions, Marcin, you know?
Not right now, not right now.
Yes. Awesome. Now, you know, out of curiosity who does the lead generation or prospecting from your side? In terms of who, you know, that you're targeting?
From a, who is doing the prospecting from my side? Currently? Yeah, it's every member of the team. Yeah.
Yeah, absolutely. And in terms of the quality of these leads that they're able to generate, you know, as George is just, you know, pointed out mediums are doing it from eight. Is that prospecting conducting the cadences and messaging and trying to close deals? How would those quality leads that they provide, you know, ultimately affect the conversion rate that you're…
I'm not sure if I get the question, right?
Maybe I can, maybe… yeah, maybe I can rephrase it. So let's look at today with the situation as is right now, how many reps do you have and how many meetings do the 10 per month you have that number? It doesn't have to be, you know, two, one meeting, correct a ballpark figure?
So, there's like… four four reps and I would say approximately there's like 12 to 15 meetings a week. I'm sorry, I'm not. Yeah.
And now, the question is Marcin, those wrecks, if there's four reps will be taking 30 to 50 leads a month, how much do you think that would reflect on the revenue?
So, significantly.
Exactly. And that is embed is the value of sales and folder, right? Lives in that answer. So, if we were to significantly increase the output of meetings and your reps would only focus on taking these meetings, then how is the revenue are gonna look like next quarter this year or next year?
Hello, definitely my bucket. Yeah.
Yeah, that resellers question. Yeah. So back to you man.
Thank you for that clarification. Ambassador. Now, in terms of the geography that we're working with, what markets are you specifically focusing pull in? Is there a future vision, you know, or need right now with the scale and expand outside? What does that look like from your?
So right now, we're looking more into expensive United States. And in terms of markets, we are mainly sitting in western Europe.
Yeah.
So we would mainly be doing within, you know, English speaking, you know, clients.
Yes, yes, there is also Germany but with Germany, we are also speaking English. We don't have and the German speaking… sales reps and develop ourselves.
Fantastic. Good to know. Good to know. And any other specific questions from your side, you know, whether it pertains to the onboarding or how we, you know, do the qualifying and lead generation as well.
In July, it will be good to know how you work, how much involvement is on our side… and probably later some details of the corporation, which is the compensation? Is there any guarantee? If we faced the meetings that's where I don't know Central, do you use less for example, or with not exactly our client? So how does it work? Yeah, yeah.
Absolutely. There are two ways typically that are, you know, client specific industry. Either they have a strong list of prospects and leads that have been qualified and that you're comfortable with, you know, sharing. We will then take those leads handed off to our sales development representatives who would then go about messaging them, gave me that meaningful interaction, billington, cold emailing. And we'll call that they would, you know, qualify the lead through that messaging before they show up with your sales executives ultimately for our call on the discovery call. And so forth. The other hand, where our clients don't have a strong list of leads or they're running lists and, you know, with the smallest of leads, ultimately, you can expect much list, you know, meetings. So ensuring system level in the pipeline is what we also have a market research analysts which is ideal for some of our clients who are looking to expand either from the US to him yet, and vice versa. Where they take a look at your eye CP a persona specific trigger events of the ideal criteria that we're evaluating valid, being the list based off of those qualified prospects to you. Does that make sense so far?
Yeah, makes sense.
Fantastic. And you know, very little and if it, you know, no campaign thing is required from your side as we have an entire team behind the scenes that completed proposes of customer leads, head of customer success and sales enablement that work together with the team of SDRS, the about the best way to market strategy based off of what we have seen internally for that, as well as what you've seen work best for you and putting together the best strategy going forward from there. So there would be weekly updates, you know, biweekly updates showcasing what is the analysis that we receive? Our, the positive responses? Negative. What, you know, do we continue doing the same thing or do we need to refine it? And so forth. And so that's typically what the engagement looks like as you can imagine the more feedback that we get from you, the better sure that we stay on top of things going for now.
Do we have an influence on the, or at least can check what kinds of messages or emails who will be sending to this potential clients?
Absolutely, absolutely. We would actually recommend that, you know, in most cases, some of our clients just want to back off and let us, you know, do the work. But the more feedback that we get from you, the vendor ultimately is with overall fantastic. And in terms of the way that, you know, the term length works is we typically start off with the four month period. And the reason for that as you can imagine is there is a slight ramp up when it comes to our SDRS fully coming to know the product, the value props and the INS and outs of the strategy. And so within the first two months, we're steadily ramping up within the first 15 days. There's an onboarding where we're going through the messaging accordance with you getting the feedback, understanding what the best go to market strategy is. And then going on from second third and fourth month, you can start looking at it, expects a consistent level of qualified meetings, you know, coming through the door, a healthy pipeline that is always pretty, you know, W tactful and set forth from there.
So just let me confirm if I get this right, there's like 15 days of onboarding. And after that, there was like… four months four months of prospecting and the setting up a meeting. This is the initial.
Correct. I would almost say that we do the prospecting during the on-boarding and it's just a little bit slower as the onboarding does take place to really refine stretch. But after that 15 days that's one of the process, the fully ramped up.
And then he considers.
The, you know, pipeline populating group?
Hello, this is total four months and during the first manager, is this 50 there's onboarding? But to start prospecting even before this onboarding and stuff?
Correct. Correct. That is absolutely right. And on top of that, from the data signature, it only takes us two two, three weeks to source to talk to your dialer capable of producing those results and those meetings… correct? So let's see, and you mentioned pricing before I jump into that. Is there anything I missed in terms of the questions that you have from?
Hello? No other fingers?
Ultimately, you know, the pricing does dependent on the size of the team and the scope of work? What is the end goal? You know, how many sales development representatives do we need in order to hit that target? But I can't tell you that the compensation for the sales development representative is split two portions, the fixed rate which pay it out monthly, and then the variable rate which is fully dependent on the KPI'S we're targeting that we set forth. Correct? So if we, for an example that 10 qualified meetings a month is what will get you to that target that you're looking forward to. That is where the variable component is directing type. So if five qualified meetings as well, our SDR brings in only 50 percent of that very pointed to spit out. On the other hand, you were not viable for over a team. So you are capped out at whatever the variable fee is. Even if we bring more qualified meetings that we set forth as sorry. Does it, does that make sense?
So I'm not sure if I got everything correctly, but it seems that we are. So, so we are setting some KPI'S so let's take it. We want to 10 meetings in month, 10 new meetings a month. Who's deciding whether it will be, I don't know one is the our team of 10 SDRS and what this. And then I assume that depending on the numbers, let's say it's either two SDRS to set up the meetings. It's like they get, I pay a fixed price for each of the SDR and then separate KPI'S for example, then in this example, they will have like five meetings to set up each. And if they reach to start that, there is other than that we'll say the… second part and is the exit, this part of the exit, this target, there will be some no more commission.
Correct. Is kept a commission. And I do want to emphasize that's only for the initial four months of engagement as it is a pilot period. And ultimately, the entire goal is to showcase that we're able to do this and help grow outside you gain that trust and grew a long-term partnership. Ultimately we will need to scale alongside with you. And the only way to do that is by providing those qualified leads that you need to showcase that we're able to grow this partnership together.
OK. So so how do you decide how many as they are selling needed to set up a meeting? Because then I can say I want to one is the are in the 100 meetings? And I don't think it would be OK for you? Yeah.
Things like…
That, that comes back to the question or ask, you know, what do you see with your current PDF? What are they able to produce? Because we will either look at setting the KPI'S as a minimum of what your best is SDR business development manager is able to introduce. So if they are able, and you're seeing in house 10 qualified meetings a month is feasible, that would be the minimum expectation for us?
But… it's hard to compare one to them because they have a much broader responsibilities not on the setting up the meetings but they also, you know, working later as a key account manager to the client preparing the offer I saw.
Absolutely.
Yeah. But in general, if I would say if I would start my best person on it to set up a meeting, can do prospecting, probably somewhere between 10 and 1,515 would be feasible. I'm a month, yeah.
Yep. Yep. Absolutely. And it's absolutely logical that we would expect a little higher number as we would have more time dedicated to that, you know, pipeline generation from us. So that's the one way we look at it. And we would also look for feedback to see what the expectation would be from that side. On the other hand, we also look internally to see what is feasible with our own clients that we've been successfully growing past two years, the specific market or similar markets to yourself. And then we will come back with the proposition of once we see that data from our side, what's capable visa, we would recommend that. And so I can't see from just a brief, you know, comment that range anywhere from nine to 13 qualified meetings with the SMB space is something that we have seen within our clients. But then again, it's very specific and with respect to what verticals are we working within the USA and UK and so forth. So that's definitely something of a conversation that we can dive further into on our next call. When we have, you know, head of sales enablement or customer success, I can share a bit more light into how we evaluate.
Yes.
I know we do have, you know, one minute to go. I'm sure that you also have a hard stop. Maybe Marcin, if I can ask, is there a specific time maybe later this week? I know it's already Wednesday or next week where we can have a follow up where we have our.
Let's let's for this week definitely. And the more slots to meet, just let me open my calendar.
I think… Tuesday 10.
Perfect. Well, good. Well.
You by the time provided me some information so I could read especially about the, you know, pricing model. What is the cost of that as they are? I know, I understand that we have to set up the, you know, the numbers of there's the, or the third gotten some KPI'S during the process, but it would be good to know at least a rough range. What is the cost of it. And then later then we'll talk about it. Does… that work from here? OK?
I will share a slide deck with all the relevant information and some of the things we discussed today, so that you can review it until our next?
OK. May I ask questions? Yeah, you can share with us any information regarding the tools who, which you usually use form… building that pipeline to understand a little bit more. Now, what is the part for male in there? Which is the part regarding the LinkedIn communication to understand how it's looks like from your perspective, what is the main tool for perspective? For example, LinkedIn, all it would be mailing, it will be also good.
Yep. Absolutely. I will. I'll kind of description and the answer to that in the email as well.
OK. Thank you.
No worries. Marcin, that's yadda. I appreciate you taking the time today and looking forward to next week?
Bye bye.