Frequently Asked Questions
“OpnMkt removed the feeling that leads happen to reps. It gives them autonomy over their pipeline, so leads go to the people that are hungriest to work them. Reps value leads they’ve won much more than leads they were assigned.”
Where does this fit in the process?
OpnMkt fits in many places in the process and since everyones processes can be slightly to wildly different it all just depends. One thing to keep in mind is that it doesn’t have to be all or nothing. We coexist with territories, round robins, named accounts etc. For more examples visit our use cases page
What are Market Dollars?
Market Dollars are the fake currency used in the platform. You can give a monthly budget to AE’s and they use those market dollars to purchase the leads from SDRs. These dollars can also be used as awards for contests, AEs get awarded Market Dollars and they can buy more leads, SDRs get awarded Market Dollars and it gets paid out to them in their comp plan. Aside from the actual utility they serve in the app, there are many creative ways to use Market Dollars on the sales floor.
What happens if AEs run out of Market Dollars?
OpnMkt allows admins to adjust market dollar balances up and down at any time as needed. If AEs run out of market dollars you can add more at any time. Market Dollars can be used for contest awards as well as buying old pipeline and dead opportunities / accounts back from sales reps.
How do I balance my AEs consumption of leads if they can buy at so many different price points?
Each AE is given a monthly budget of Market Dollars. These Market Dollars act as a governor of the distribution of leads. If an AE buys every lead they see they will run out of Market Dollars for that month and have to wait till next month to get a new budget of Market Dollars.
Leads can have different price points which they sell at. The min and max price points is configured by they system admin. If an AE buys a lead at the max price then it is deemed more valuable to that AE and they will get to purchase less leads for that month. If AE only buys leads at the lowest price point then the leads are deemed less valuable and they would be able to get more leads that month but with the assumption they are lower quality of a lead (maybe just require more work etc)
This give AEs and SDRs the ability to work as they naturally do. Some SDRs are great at setting appointments with key companies or people but they might not be as qualified. Other SDRs might only set a few demos each month but they are prime leads and very well qualified.
On the flip side, some AEs want only super qualified leads, and other AE might be in a position with no pipeline and willing to talk to anyone with a heartbeat.
This system allows for all those variables to happen in a balanced and equitable way and provides a natural balance of quantity and quality leads. It also provides a true measurable metric of the value the SDR creats for the AE.
What happens if an AE buys a lead and it's not valid?
OpnMkt has the ability to allow managers to process a return. If a lead is not valid the AE can request a manager to process the return. When a return is processed the purchased lead will be returned back to the SDR who sold it and the Market Dollars will be transferred back to the AE who purchased it.
What happens if an SDR isn't selling their leads?
The marketplace is an opportunity for any eligible sales rep who could possibly work that lead to take it and work it. I have never managed a sales team where not a single sales rep didn’t want or need a lead. If no one buys a lead in the marketplace I would want to know what is up with that lead and this becomes a feedback loop and opportunity to train the SDR who listed that lead. In addition sometimes OpnMkt is used as a pre-round-robin. Meaning we first offer it up as a listing in the marketplace, if no one wants it after a set period of time then the system will fire a trigger that will round robin that lead. Lots of different paths for this conversation, happy to discuss.
How easily can it be bypassed by the reps?
The admin panel in OpnMkt give you the ability to set permissions on profiles. You can lock down leads, accounts and contacts from being changing owners outside of the marketplace. You will never have a situation where a lead was passed from one person to another that should not have been.
What are my enforcing methodologies?
There are many dials you can turn in the admin panel to drive the experience you want your reps to have. There are also many ways to enforce the experience they should have to prevent any sort of gaming the system by the sales team. Having managed sales teams for 15+ years there’s not much I have not seen or thought of happening when designing this system. The guard rails are in place for a smooth process and low operational overhead by the admin and sales leadership teams.
Does this work with Contacts, Accounts and Opportunities?
Yes, OpnMkt will work with Leads, Contacts, Accounts and Opportunity objects in Salesforce.
What is the installation and set up process?
This is availabel in the AppExchange and will install with the click of a button just like any other Salesforce app.
There are settings that can be configured by the admin, the total set up time is usually less than 1 hour from start to finish.
Change management to onboard and train the reps is pretty simple. SDRs just need to know where the button is to sell a lead, fill in the form. AEs just need to know where the Marketplace tab is to see the leads they can buy from the SDRs.
Once it is up and running there is very little ongoing overhead needed by the admin or sales ops team. 🎉
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Please contact us, happy to answer any questions you have and show you a demo too!
Tenbound Sales Development Podcast Episode 8
