Velocify Adds ReportHub to Its Sales Acceleration Platform
Velocify today brought its sales acceleration platform up a notch with ReportHub, an analytics tool designed to give leaders insights into team member performances, marketing campaigns, and the quality of leads they invest in. The company likens the release to a "digital fitness tracker for sales organizations," as it aims to give users near-real-time updates that inspire instant decisions for effective sales strategy and execution.
The goal of Velocify's platform is to help sales organizations make informed prospecting decisions, engage leads, and optimize employee workflows, ultimately to boost conversion rates. Its LeadManager product, released first in 2004, available as a stand alone or as an application for Salesforce.com, uses automation techniques to instruct reps on which leads to call.
But while Velocify has offered reporting tools in the past, its customers wanted more from the performance data the system was collecting, explains Matt Reid, the company's vice president of marketing. "One of the big pieces of feedback we received from our thousands of customers is that, 'Hey, there's so much information here, what are the key things that we need to drill into to really make a difference in how we're running our sales groups?'" Reid says.
ReportHub organizes each company's analytics into three performance categories: lead sources, day and time of sales contact, and individual user. Each of the categories offers interactive reports and dashboards designed to allow for quick viewer assessments, as well as charts that allow managers to take deeper dives into their data.
With these visual guides, users can get a read on the quality of their leads to determine the value they are getting from their marketing investments and lead purchases. By looking at the contact time data, for instance, managers can understand the optimal days and hours to devote to call activity, as they can determine in advance when it would make the most sense to have staff reaching out to contacts. Managers can gain more insight into their deals and the performances of their employees, as the tool includes color-coded pie charts that show daily activity summaries by milestone, current and recent status, and actions taken. Managers can then get an idea of top and bottom performers, see what team members are spending their time doing, and figure out how to act.
According to Rubal Gupta, director of product analytics at Velocify, the product was rolled out to customers in a six-week-long beta period. The most popular feature, so far, has been the day and time performance category, she notes. Early results indicated that most companies would be well-advised to keep staffing high on Tuesdays, since that is the day that yielded the most fruitful sales calls.
Reid states that, at minimum, a sales team must have three to five people on staff to benefit from the technology Velocify offers. It can serve as a good starting point for new outfits that don't yet have a CRM system in place and tend to rely on spreadsheets to track accounts and contacts. However, the platform can also scale to meet the needs of global sales teams with hundreds of reps that would like to get the most out of their leads.
A big differentiator for the company is its focus on the particular requirements of different verticals, including the mortgage, education, insurance, and technology industries. For instance, a mortgage provider will typically receive a high volume of leads. "We work really well to insure that they utilize the system to get back to those leads as quick as possible," he says. "But we can also implement the system to follow a specific cadence, workflow, or outbound strategy that is necessary for a technology company."
ReportHub is available to customers who are using Velocify's LeadManager product for no additional cost. Pricing for LeadManager is $60 per user a month.
Gupta says that ReportHub is in its initlal phase but will offer gradual updates in the coming months.
"We're enhancing the ability to do a lot more customization of the technology; that's something that our customers want to be able to do, to provide the type of data analysis that is specific to them," Reid says.
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