We hear from Ross Methven, founder of research and competitor insights platform 11:FS, about his experience working with Waypoint Partners and the difference this has made to the growth of the business.
The situation for 11:FS before Waypoint
As a self-funded start-up, 11:FS grew our commercial team relatively slowly over a couple of years, and had created a set of processes that, whilst working, were not delivering the results we wanted. We had a tendency to focus on the product and our feature set, rather than honing in on the value that our products deliver for clients. As a sales team we lacked rigour, discipline and repeatable processes and this meant scaling and gaining the associated economies of that scale were not happening.
Where we are now
Working with Waypoint to rework our sales processes, assets, and messaging, we have adopted their sales approach and now use the ‘Co-Impact’ methodology in how we go to market. We have ensured all new hires are quickly immersed, trained and then supported in the adoption of the new way of selling value.
This has resulted in team members hitting the ground running and getting to revenue more quickly than before. Our win rate has improved markedly; average deal size has doubled, and we have shortened the overall sales cycle time through controlling the sales process more actively. Sales are faster to develop and more predictable in terms of how they flow into the business.
The delivered outcomes
- Time to revenue reduced by 25%
- Average deal size – doubled
- Average cycles / length – reduced by 50%
- Renewal rate – increased by 30%
- Growth at the point of renewal is now commonplace
