It’s a tale as old as time (or at least as old as sales):
You land a new account, onboard them, and build a strong relationship. Over time, the account becomes ripe for upselling and cross-sell opportunities, but you’re too busy working new leads to expand your existing accounts. Sure, you might reach out every once in a while to check-in, but there are only so many hours in a day.
Bottom line: There’s plenty more revenue to be found in growing existing contracts, but working new leads takes most of your time and attention.
So what do you do?
If you’re anything like our client, you offload all the time-consuming legwork to AI so your sales team can do both: cross-sell new accounts while still landing new ones.
Solving for the Time Challenge
Our client, a well-known and trusted Fortune 200 IT and hardware reseller and consultancy business, faced a challenge most of you know well.
Their account executives are highly skilled with plenty of insight into their best accounts. They knew precisely when their small to mid-size and startup clients were up for renewal and prime for a cross-sell. But all the data in the world couldn’t make up for the fact that AEs were already stretched too thin.
They didn’t need more data — they needed more time.
That’s when the Head of Innovator Initiatives and Director of Startup Ecosystem and Development decided it was time for a change and decided to deploy Kronologic’s AI-powered Virtual SDR technology.
Boosting the Account Review Meeting Acceptance Rate
Using Kronologic’s Meeting Math, our client discovered their average meeting value was about $10,000. So every meeting they didn’t lock down meant leaving a potential $10,000 in revenue on the table.
Using identified lists, Kronologic’s Virtual SDR technology contacted buyers in the purchase cycle on behalf of AEs. The tech handled all the back-and-forth communication to set up virtual meetings, freeing AEs up for relationship-building conversations.
Of course, getting more time back in AE’s workdays was only part of the challenge. To reach their goals, our client also needed to ensure their customers would accept the virtual meeting requests they sent.
Invites have to sound as human as possible — and look good on any email application:
45 account review virtual meetings in 20 days and achieve a massive 35% acceptance rate.
Reps were thrilled with the opportunity to expand their results and stroke gold through massive outreach, all without adding more work to their already overfilled plates.
And after experiencing such incredible results, our client is now looking for new ways to leverage this AI tech, such as automating service calls for more engagement.
Moral of the story? You can’t add more hours in the day, and you may not be able to add additional headcount to your team — especially in a time when we’re all focused on running as lean as possible. But by leveraging the power of AI, you can free up your team to achieve more than you ever expected.
Ready to see our Virtual SDR technology in action?
Originally published May 21, 2020 9:33:27 AM, updated
Written by Aaron Bollinger
Aaron Bollinger loves to create and evangelize innovative new technologies, which is exactly what he’s crushing in his current role as Co-Founder & CRO at Kronologic. Previously Aaron was a part of the team at BazaarVoice (formerly NASDAQ:BV), where he built out a global team that increased pipeline contribution by 300% and annual bookings by 500% - pushing both of these numbers into the tens of millions of $. Prior to BazaarVoice, during the rise of social media, Aaron was one of the founding sales hires at KickApps and helped build the company over 5 years through 3 VC rounds and onto millions in annual revenue and a profitable acquisition.