Hacking Through the Multi-Product Jungle: How "Bamboo Software" Mastered its Cross-sell Strategy
The BizOps team at Bamboo Software — the pseudonym of a Boston-based B2B software company — uses the Rekener Account Control Center to overcome the limitations of their Salesforce CRM, boosting cross-sell revenue and driving marketing and sales efficiency.
Meet Bamboo Software
Since its founding in Greater Boston 10 years ago, Bamboo Software has grown into a $100M B2B recurring revenue business offering 10 products to a number of industries. To help ensure the success of its enterprise and inside sales teams, Bamboo’s marketing operations team made considerable investments in planning and forecasting tools.This has enabled sales and marketing to achieve significant growth by successfully selling into thousands of accounts. Bamboo’s renewal rates are strong, which has helped them extract significant lifetime value out of their customer base. The team at Bamboo is using Salesforce as their CRM, Marketo for marketing automation, and ToutApp as a cadence and sequencing tool for their inside sales team. However, shortcomings in these tools have made cross-selling a challenge, leaving the team with cumbersome manual processes that don’t scale.
Bamboo’s Cross-sell Goals
Find all accounts that bought Product A, but not Product B
Find contacts and leads within those accounts
Use Marketo to send them nurture emails about product B
- Send contacts to ToutApp to be targeted by sales team
Bamboo’s primary strategy for continuing their strong growth is to cross-sell more products to existing customers. Bamboo’s demand generation team uses Marketo to manage email marketing campaigns that promote new products to customers, while the inside sales team uses cadence tool ToutApp to plan sequences of automated emails and phone calls to customers. As the number of Bamboo products grew, it became difficult for the marketing and inside sales teams to accurately identify which customers purchased which products. This led to customers receiving emails and calls about products they already owned, creating a sense among customers that Bamboo didn’t know who they were, not to mention the waste of time and money spent by Bamboo on activity it didn’t need to perform. Additionally, many cross-sell opportunities were missed because companies with one product but not a second were not easily identified and targeted. The source of this difficulty was the company’s inability to run a Salesforce report of accounts by product.
“Cross-sell is a major part of our growth strategy, but translating that growth strategy into a marketing and sales process isn’t easy with Salesforce. We were tying up our BizOps analysts for days every month building contact lists. With Rekener, our BizOps team can more easily help the sales organization focus on the right accounts for expansion, and now we can focus BizOps on broadening our expansion strategies.” - SR. DIRECTOR, REVENUE OPERATIONS, BAMBOO SOFTWARE
Even for those who know Salesforce well, it’s notoriously difficult, and in this case, impossible, to segment accounts by product. Bamboo resorted to a highly manual and error-prone system for running its email marketing and inside sales campaigns.
Step 1. Identify which accounts have Product A
- Exported this report into an Excel file
- Sorted the file by Product in order to find Opportunities that contain a Product A line item.
- Manually highlighted those rows on the report
- Sorted the file by Product again to find Opportunities that contain a Product B line item
- Manually highlighted those rows in a different color.
- Filtered out non-highlighted rows to exclude those Opportunities that contained neither Product A nor B.
- Sorted the file so that Opportunities with Product B came before those with Product A.
- Removed any duplicate rows based on Account ID to eliminate any accounts that might have both Products A and B.
- Sorted the file by product and deleted all the Product B lines, keeping only those Opportunities with just Product A.
- Removed any Opportunities that aren’t qualified due to being a Reseller or other attribute.
Step 2. Identify open opportunities to sell Product B
The second step is running a Salesforce report that identifies all open Opportunities for Product B. After exporting this from Salesforce into Excel, the Bamboo team:
- Filtered the file twice (as in Step 1) to find all the Opportunities with either a Product B line item or a Product A line item.
- Removed the rows that had neither Product A nor B.
- Sorted in the same way as step 1, and then removed duplicates so that Accounts with Product B were kept when the account had both Product A and Product B.
- Deleted the Product B rows, leaving a list of Product A line items for accounts without Product B.
- Merged this file with the original file in step 1, and removed any Accounts that had the open Opportunity with Product B by using the Remove Duplicates function again.
Step 3. Find leads and contacts in target accounts
After completing steps 1 and 2, Bamboo now has a list of all the Accounts that have Product A but not Product B. Next they need to find Leads and Contacts in these accounts, so they:
- Uploaded a list of Account IDs from steps 1 and 2 to an export utility to return all Leads or Contacts.
- Deleted records without an email address.
- Merged these Leads and Contacts onto a single Excel worksheet in order to deduplicate by email address.
Step 4. Create a Salesforce Campaign
With this final spreadsheet in hand, the team would then kick off the cross-sell campaign. To support the inside sales team, BizOps would:
- Use the Salesforce Data Import Wizard to upload the contacts from Excel.
- Notify the inside sales team to begin their cadence of emails and calls using ToutApp.
- To support the marketing team, the Bamboo BizOps team would upload the data into Marketo as a Static List.
- Notify marketing to begin their campaign.
While the BizOps team was delivering on their mission to help marketing and inside sales target cross-sell opportunities, their Salesforce-plus-Excel solution was both cumbersome and time-consuming. Worse, it only covered one scenario, leaving them to run through the entire process again, manually, for each combination of products. And because the majority of the work was done in Excel, they had to redo it every time the Bamboo team needed an updated list of Accounts or Contacts — it wasn’t dynamic at all.
The Search for Solutions
The BizOps team explored a number of options beyond Salesforce and Excel, ultimately selecting the Account Control Center from Rekener, which offered:
- The flexibility of a custom data warehouse
- Built-in metrics and reports designed specifically for the needs of B2B recurring revenue business
- Easy identification of accounts by product
- The ability to create target contact lists using all leads and contacts
Setup is easy
In about 10 minutes, the BizOps team at Bamboo connected Salesforce and Marketo to the Account Control Center. Then the Rekener team mapped Bamboo’s custom fields to Bamboo’s own secure instance of the Account Control Center in order to calculate the active ARR of each product for each of Bamboo’s accounts. The platform nicely exceeded Bamboo’s requirements when the BizOps team learned that the Account Control Center could not only automatically run their cross-sell analysis as scheduled, but that it could also automatically deliver the latest cross-sell contacts directly to the team in Salesforce via the unique Push to Campaign feature.
Using the Account Control Center to Drive Cross-sell Revenue
Because the Account Control Center is connected to Bamboo’s Salesforce instance, it dynamically tracks Active Contracts and Open Opportunities of each Product.
- Maps contracts and opportunities at the rolled-up Account level
Bamboo’s BizOps team can create a Rekener Group that finds all Accounts that have an active contract for Product A but do not have an active contract or open Opportunity for Product B and who are not a reseller. Unlike the Salesforce-and-Excel solution outlined above, the Rekener Group is dynamic so it’s accurate and always up-to-date. By cloning the Rekener Group and modifying which products to filter for, they can easily mix and match to support current and future cross-sell strategies.
- Push to Campaign delivers leads and contacts to Marketo or Tout App
With the list of cross-sell target accounts in hand, the BizOps team uses the Account Control Center to find the leads and contacts associated with those accounts as well. Leads and contacts can be added directly into a Salesforce Campaign or exported to a CSV file. The Account Control Center’s Push to Campaign feature makes it easy for Bamboo to bring that list of leads and contacts into a Marketo program or to add them into a ToutApp cadence.
- Always up-to-date
The Account Control Center extracts information from Bamboo’s Marketo and Salesforce instances daily, or more often if required, to ensure the list stays up-to-date, without requiring manual updates. That means Bamboo can run campaigns more frequently, with greater accuracy and less risk of error.
While Bamboo’s primary need was to reduce the complexity and risk associated with their manual Salesforce-and-Excel process, they envision using the Account Control Center to support additional initiatives. Bamboo would like to:
- Explore which accounts are best for landing with a given product and then cross-selling to another
- Incorporate web visit information from Marketo in order to identify accounts that do not yet have a given product, but which have contacts or leads visiting website pages about that product.
- Develop and test go-to-market programs to inform how best to use marketing and sales resources.
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Steph served as Rekener’s Community Manager and CMO. A Rekener co-founder, she was previously Senior Director of Marketing at CCC, a $300M+ recurring revenue business, and served in marketing leadership roles at Vertical, @stake, Informio, DotContent and Meridian. Her first recurring revenue role was as an inside sales rep selling real-time stock pricing subscriptions.
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