memoryBlue Insights – 11/15/2021

Below is the memoryBlue weekly bulletin, delivering sales development insights every Monday to our entire slate of high-tech clients. The updates span all six memoryBlue offices, encompassing 175+ sales development campaigns and 275+ SDRs working relentlessly to generate net new revenue for these businesses.

The memoryBlue Phenom Award program reached its last stage earlier this month and we’re blown away by our five well-qualified Finalists. Each one of these accomplished alumni left our company in the last two years and they’ve all made instant contributions at their new places of business.

We now turn the judging of this competition over to the former winners of our flagship Alumni of the Year award program and the past Phenom winners. These two groups of elite memoryBlue alumni are uniquely qualified to evaluate the Phenom Finalists’ impressive achievements and ultimately help us declare a champion.

Notable Numbers

• The hold rate for prospect leads booked via email is 82.1% in 4Q. Pushing this number over 70% is important, but achieving better than 80% is an eye-popping level for this important prospecting channel.

• Prospect conversion rates are averaging 9.1% over the last three weeks across the business. Sustaining a prospect conversion rate above 9% is difficult to do, but our team is creating major success with this key metric.

• Every Academy cohort in Q4 has earned a Net Promoter Score (NPS) of 68 or better from participants. That number includes internal and external attendees. Capturing a rating of 40 or better is considered “best in class” for this metric, and we’re thrilled to see our signature sales training create such raving fans.

Highlight of the Week

Jake, an SDR based out of our Denver office, is on a hot streak for the ages and there appears to be no end in sight. In just the first 23 days of dialing on behalf of his sales management consulting client, he booked a sensational 25 prospect meetings.

That level of production created a massive stir with his campaign’s main point of contact (the CEO of the company). The client is now adding additional memoryBlue resources to their engagement and the CEO offered the following high praise to Jake:

“If I can get someone in who can produce 75% at the rate Jake is, we’ll do $400k per month just through mB leads I believe.”

Spotlight on Training

Kyle Gross, the Managing Director of our Seattle office, authored a company-wide training last week focused on the many sales career path options created by a start in the SDR role. The hallmark of our culture at memoryBlue is fostering a growth mindset for our team. Kyle’s training struck at the heart of this mentality by placing a spotlight on all the avenues available to our team when they knock their SDR job out of the park.

Whether an SDR aspires to move into a sales closing role, an SDR Manager and leadership path, a career in sales operations or an almost unlimited range of additional sales-related options, the choices start with a fundamental understanding of each road. The team asked fantastic questions and benefited directly by hearing about Kyle’s own career experience moving from an SDR role all the way into his sales leadership position today (which happens to be right here at memoryBlue). Fostering this aspirational mentality in our SDR team can never start too soon.

Lead Scores

The following client lead scores earned significant praise last week:

11/9/2021 – 1:15PM – 10/10 – Sarah
“Prospect said “I’m sold” on the call. Great work!”

11/12/2021 – 5:15PM – 10/10 – Michael
“This contact was our prime target market, he was in the market and had clearly defined pain. I look forward to closing this one. It sounds like Michael had some great relationship-building prior to bringing me in – fantastic work.”

11/10/2021 – 2:02PM – 10/10 – McKennan
“Loved the call notes that Mac provided me prior to the discovery call. I was able to make great use of the prospect’s time and craft insightful questions before the meeting even started.”

A Guide to Effective Sales Prospecting

Our newest eBook, “8 Principles of Effective Prospecting,” offers an insider’s look at the sales development methods we drill into our sales teams at memoryBlue. Designing and executing an effective sales development strategy is a critical effort for every high-tech business. This eBook (which we have made free to the public) exposes the building blocks necessary to achieve a larger, more qualified funnel of prospects.

From building better prospect lists to overcoming objections, we’ve covered every angle here. The truth is ineffective cold prospecting leaves potential new revenue on the table, at best, and actually can damage your brand, at worst.

Take a moment to learn more about this new resource and feel free to grab your copy today.