In just one year, Honest Buildings implemented the SalesLoft platform to yield big results in an evolving sales organization.
The company struggled with team adoption and alignment with the first solution it implemented. Switching to the SalesLoft platform while adding a business development team helped Honest Buildings put the right pieces in place to drive revenue.
Honest Buildings has earned a reputation as the leading real estate project management platform. Many of the largest real estate owners in the world trust the company with their business. The company has helped to modernize a real estate industry that has historically relied on spreadsheets, manual processes, and disconnected systems to manage construction and development projects. Using real-time data, it helps customers improve communication tools to execute projects more profitably.
Taking a page out of its own book, Honest Buildings wanted to streamline its processes for marketing and selling products. Despite having a SaaS offering, Honest Buildings operates in the real estate market. As a result, their sales function mimicked the real estate model of employing full-cycle Account Executives (AEs).
Leadership agreed to make adjust the sales organization to increase the efficiency of the existing sales force. They believed that creating a new Business Development Rep (BDR) team and implementing a new sales engagement platform would help accomplish this. The newly-minted BDRs would manage the upfront qualification and lead conversion activities. The end goal was to achieve a growth trajectory on par with other SaaS startups.
The strategy proved successful for Honest Buildings, but it didn’t happen overnight. The company had to overcome several hurdles before hitting its stride. Throughout the process, providing an excellent buying experience remained paramount. Sales activity would need to increase without straining relationships in the closely connected world of real estate development.
Jeb Pierce, Director of Business Development & Inside Sales, and Scott Gelber, Demand Generation and Marketing Operations Manager lead the charge at Honest Buildings.
Honest Buildings’ marketing team was doing a good job generating a lot of leads. However, before using SalesLoft, they didn’t have an effective system in place to track how well the sales team was following up on leads and converting them into opportunities. Jeb and Scott knew opportunities were falling through the cracks, but they weren’t able to easily pinpoint and quantify why.
Because it sells into a relatively finite market, it would be easy for Honest Buildings to segment buyer personas and improve the effectiveness of marketing efforts. First, a better system was needed for tracking and measuring follow-up, and to automate aspects lead qualification, assignment, and prioritization.
Creating a Business Development Team
Further complicating matters, the sales team still consisted of full-cycle reps. As a result, follow-up was second to working the deals most likely to close immediately. AEs were tasked with building relationships with senior-level decision-makers at the largest organizations in the building industry across the globe. Increasing prospecting efforts in the current structure wasn’t sustainable.
A better long-term strategy was to create a business development (BDR) team. The new BDR team began to establish more relationships with high-value prospects. However, they still needed a solution to help manage communication at scale without being too overbearing and alienating executive-level prospects.