Profitero Takes Revenue Predictability and Visibility to the Next Level
Profitero supercharges their sales and marketing efforts with the Rekener platform. Profitero uses Rekener to forecast accurately, optimize their marketing funnel, and improve the performance of sales reps. They do it all quickly, easily, and without an army of analysts.
Read on to see how Profitero has built a predictable, scalable and efficient sales and marketing process.
Profitero monitors what shoppers see and buy online, actively tracking 450 million products across more than 5,000 retail websites in 45+ countries for retailers and consumer brands. Their proprietary digital monitoring technology is uniquely combined with sales data, ensuring that their clients maintain or increase market share.
- Matt Tuel, CFO
- Erik Lepke, VP of Finance
- Dave Blumenfeld, Director of Global Sales and Marketing Operations
Profitero runs an incredible business, providing ecommerce analytics to some of the biggest and best brands in the world. It’s a high-growth company. Profitero has been able to achieve a great combination: a high ASP, and also rapid and predictable new customer acquisition.
Profitero uses the Rekener Platform to maintain their best-in-class performance for pipeline predictability, return on marketing spend, and return on business development headcount.
Profitero is confident in their ability to project new bookings for a quarter, and hit that projection. Their confidence comes from their accurate forecast model. The Profitero team created their model in Rekener by starting with historical analysis. The model was created by breaking down opportunities by 4 factors:
- Geographical region
- Opp Stage
- Opp Age
- Opp Type (New / Upsell / Cross-sell)
Based on these 4 factors, Profitero can predict with reasonable accuracy whether an opportunity will close in a quarter. For every opp in their pipeline, this model tells Profitero how much revenue they are going to close. The model is connected to live Salesforce data, so the forecast updates automatically as time goes on.
This has big returns for Profitero. According to CFO, Matt Tuel “Having an accurate forecast in Rekener allows us to improve deal strategy and plan sales resources really effectively.” And since the model is flexible and easy to update, it gets smarter over time with more data.
Return on Marketing Spend:
Profitero’s marketing team leverages an inbound free-trial process to drive opportunities. Their north star is to continuously improve the quality and quantity of these inbound leads.
Data for this whole funnel is spread between Marketo and Salesforce. Rekener pulls all this data together, most importantly producing a cohort-based conversion funnel showing how monthly cohorts of leads are moving through every part of the process, from Form Submission to MQL to Opportunity and through the sales process.
With this information, Profitero optimizes conversion throughout the funnel, and tracks improvement over time. “Automating this reporting in Rekener not only saves me hours of time pulling and slicing data manually, but by enabling us to cohort the data on the first hand-raise event, we're able to evaluate the performance of campaigns and channels used in different periods all the way down-funnel. Ultimately that helps us improve and maintain quality at the top”, says Director of Global Sales and Marketing Operations, David Blumenfeld.
Return on Business Development Headcount:
Profitero is able to ramp business development reps more quickly, and to higher levels of performance than their competitors. They do this by measuring and benchmarking the performance of reps in the Rekener Business Development Rep Scorecard app.
Instead of going blind staring at Salesforce dashboards, the Profitero team uses Scorecards to quickly and easily see which reps are performing well and which are not. Profitero can score their reps overall, and can also measure reps against their target for any metric. They can also double-click in and diagnose in which part of the process reps need to improve.
“We’ve always had targets and quotas that we expected reps to hit. But now I can measure their performance on a daily basis” says Erik Lepke, VP of Finance. “Rekener allows me to measure performance so quickly, we are never in a reactive state. We’re always ahead of the curve.”
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Greg is COO and Co-Founder at Rekener. Greg’s career has been focused on using data to grow recurring revenue businesses. Before joining Rekener, he served as VP of Operations at ZeroTurnaround, where he built its strategy and operations practice, ran customer success and renewals, helped to grow and coach its high-velocity sales organization, and optimize its marketing efforts. Prior to that, he ran the BizOps and marketing functions for the AVOKE call center analytics business, a SaaS company within BBN Technologies. He got his start using data to improve sales and marketing efforts while at AppNeta. Greg is also a member of the Revenue Collective.
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