TL;DR

The Situation‍

• Needed a better way to collaborate mutually with prospects
• Wants to digitize Mutual Action Plans (MAPs)

The Challenges with Traditional Methods

• One-sided follow ups through emails and inbox purgatory
• Lack of engagement and accountability due to unbalanced dynamic between sellers and buyers
• Inaccurate forecasts based on gut feelings

The Solution with Recapped

• Gave digital structure to streamline sales processes (MAPs) and methodologies for better execution, adoption, and accountability
• Provided a collaborative environment for client engagement
• Used buyer engagement analytics to get visibility
• Evolved their use case for partnerships and referrals as well

The Results

• Accelerated sales cycles
• Improved forecast accuracy with data instead of hope
• Enhanced buyer experience and engagement
• Elevated their brand and professionalism
• Ramped up new hires quickly
• Boosted team morale and engagement

‍

How Your Money Line used Buyer Engagement Analytics to Forecast More Accurately

About Your Money Line

Your Money Line, which recently raised a Series A, is a financial wellness platform designed to help individuals and businesses achieve financial stability and peace of mind. By providing access to expert financial coaches, educational resources, and AI-powered tools, Your Money Line empowers users to make informed financial decisions, reduce stress, and build a secure financial future.

The Situation

Peter Dunn, CEO of Your Money Line, took over sales management duties for YML’s team of account executives. As a seller back in his day, he knew the importance of getting his skills and philosophy up to speed quickly. He needed a way to systematize their sales processes with mutual action plans for more accountability for his team, prospects, and customers.

The Challenges with Traditional Methods

“We kind of got sick and tired of living in the world of Google Docs. We got sick and tired of sending emails that just died and rotted in people's inboxes," explains Peter.

The Pains of Emails and Inbox Purgatory

One of the significant challenges Peter faced was the inefficiency of traditional emails and the concept of "inbox purgatory." Sales teams often sent follow-up emails with additional resources, only to see them get buried in prospects' inboxes, waiting for a response.

Unbalanced Dynamic between Sellers and Buyers

The dynamic between buyers and sellers had become unbalanced, especially in a tough economic climate. Sellers often found themselves on the back foot, hoping for a response rather than engaging in meaningful two-way interactions. Peter aimed to change this narrative by holding both parties accountable and ensuring the buying journey was a collaborative effort.

Peter noted, "The idea that you send all this follow-up information that's marginally questionably valuable to a prospect, and then you just wait, and then you wait, and then you follow up with a, 'do you have any questions?'...I hated the one-sided nature of follow-up."

Difficulty in Buyer Engagement Affected Accurate Forecasting

Engaging prospects effectively was a significant hurdle. The team struggled to get buyers more involved in the purchasing journey. This lack of engagement led to unreliable forecasting and decision-making difficulties. The element of unhealthy hope creeped up into their team. 

Peter elaborated on this challenge, saying, "Hope's lovely, but it does terrible at forecasting. We couldn't make hiring decisions. We couldn't make investment decisions because we weren't good at knowing how much revenue we were going to bring in in a quarter."

‍

The Solution with Recapped

The pursuit of a better approach led Peter to discover Recapped. This platform not only met his needs but exceeded his expectations. "Not only did it satisfy my thirst for knowing more about mutual action plans, it sort of opened me to a world of things I had never even considered as it related to being a professional sales leader,” Peter states. The tool introduced him to a new realm of possibilities in how sales could be conducted more effectively and efficiently.

Giving Sales Processes and Methodologies a Digital Structure

Incorporating digital tools into sales workflows is not just about being trendy; it gives sales teams a better chance of executing on that methodology.

“I think what Recapped does well is it takes some tried and true and then some newer sales methodologies and qualification methodologies, and it just creates digital structure to them. And I think with a young savvy sales force that's technology driven, there's just some credibility to it,” Peter declares.

What stood out was Recapped's innovative way of handling communications and interactions between the sales team and their prospects. Peter found that the mutual action plans facilitated a more structured and transparent dialogue, which, in turn, streamlined the entire sales process.

“The digital structure that this creates just gives you a better chance of executing on that methodology.”

A Collaborative Environment for Client Engagement

Not only does Recapped strengthen accountability, but it also fosters a collaborative environment where both the sales team and clients are equally invested in the buying journey. This mutual accountability can lead to faster deal closures, better forecasting, and ultimately, more predictable revenue streams.

‍

Digitized Mutual Action Plans:

Digitizing Mutual Action Plans (MAPs) has proven to be a game changer for Your Money Line. Traditionally, MAPs might be crafted in PDFs, PowerPoints, Google Docs, or spreadsheets, which often led to disorganization and inefficiencies. By transitioning to a digital platform like Recapped, Your Money Line could streamline these plans, making them more interactive and easier to manage.

A digitized MAP allows for real-time collaboration and engagement between sellers and buyers. Tasks can be assigned, tracked, and updated seamlessly, ensuring that both parties remain on the same page. This transparency and accountability help drive the sales process forward more efficiently.

“Recapped has not only done what we wanted it to do in terms of getting us to adopt mutual action plans, but it's opened our eyes to the idea of better follow-up. If we're always trying to provide value every time we reach out to someone, it's just a cleaner way to do that. So that's why we're glad we went the way of Recapped.”

🏆 This is an example of setting next steps in a Mutual Action Plan within Recapped.

‍

Adding Content to a Customizable Digital Sales Room:

Sales people have a knack of creating their own marketing material and sharing it as a ‘blue link’ in emails that didn’t look clean. With Recapped, Peter’s marketing and brand team were relieved that there was a more consistent and uniformed way to present them to clients. Peter explained, "You can refresh resources. We've linked our case studies within it. We've added our references. And then even, specimens of statements of work."

‍

The Comment Feature:

One standout feature of Recapped was its commenting system, which provided a more interactive way to connect with clients compared to traditional emails. This feature allowed for real-time communication and ensured that no information was lost in email chains.

Peter noted, "The ability to comment and get the person engaged that way...is just tagging someone in the chat...a fair way to approach somebody."

🏆 Recapped makes it easy to add various content types, including case studies, whitepapers, videos, and more. You can embed over 30+ types of content.

Use Case for Recapped Evolved to Partnerships

Beyond direct sales, Recapped proved useful in various scenarios, including partnerships. It became a repository of all sales-related materials, but most importantly, showcased the organization and buyer experience excellence of how Your Money Line would handle their partner’s referrals and clients.

Peter highlighted, "So of course we have direct sales, but we've actually set up Recapped for our partners, so that they can use Recapped as the sort of the repository of all of our things. And then that way they see how we professionally sell to them, and then if in the need to then be referred to their customers or whoever, they see that we're professional. They're like, ‘Oh, they handle me this way. They're going to handle our customers that way.’”

‍

The Results

Your Money Line's journey with Recapped showcases the transformative power of structured sales processes and better buyer engagement. Recapped helped them overcome significant challenges, leading to improved forecasting, better decision-making, and enhanced sales outcomes. For companies looking to revolutionize their sales operations, Recapped offers a reliable and effective solution.

🎯 Accelerated Sales Cycle

Recapped significantly accelerated the sales cycle for Your Money Line. New hires were able to close deals swiftly, showcasing the tool's effectiveness in training and ramping up new team members. They could rely on the insights from the client engagement analytics within the platform.

"We could tell that our point of contact was recruiting internal stakeholders within it... It allowed us to be prepared to negotiate and to offer the right pricing to get the deal across the line."

Ramping Up New Hires:

Peter was particularly impressed with a new hire's performance, stating, "Their first deal was 10 days...Would not have been possible without Recapped."

‍

Boosted Team Morale and Engagement:

Not only did Recapped accelerate sales cycles, but it brought excitement to their sales team. "They can take a rough sales week, and then all of a sudden people like, 'Oh, they're all over it.'" The sales team referencing that their prospects are active within their shared Recapped deal room.

‍

🎯 Improved Forecasting with Data instead of Hope

One of the most significant outcomes of using Recapped was the improvement in forecasting accuracy and decision-making capabilities. Through a data-driven approach, the tool eliminated the reliance on gut feelings and gave the company the ability to make informed decisions through buyer engagement data.

Buyer Engagement Data Examples:

1. How active is the buyer?
2. How invested are they in it?
3. Are they sharing their shared Recapped deal room?
4. Are they adding people to the deal room?
5. Are they answering the sales reps’ questions?

“I think a lot of businesses that just have never done forecasting don't realize how debilitating and crippling being unable to forecast is to a business. Recapped took away that feeling of purgatory. It brought us more on the level of a buyer, which was great.”

‍

To Recap

By leveraging Recapped, Your Money Line was able to turn around their sales year and achieve remarkable success. As Peter succinctly put it, "I love it. It has really turned our sales year around." The results speak for themselves, making a compelling case for the adoption of Recapped in any sales-driven organization.

Want to see how your sales team can get access to buyer engagement analytics to forecast more accurately? Request your personalized demo today!

‍

Thank you Peter Dunn and Your Money Line for being incredible customers and letting us share your story, and congratulations on your recent Series A raise! 🎉

- The Recapped Team

‍