Company: Mindtickle, San Francisco, CA
Nomination Submitted by: Boca Communications
Company Description: Mindtickle is the market-leading sales readiness platform, helping revenue leaders at world-class companies like Johnson & Johnson, Splunk, and Wipro be ready to grow revenue by increasing knowledge, understanding ideal sales behaviors, and adapting to change.
Nomination Category: New Product & Service Awards Categories
Nomination Sub Category: Sales Enablement Solution – New
 Nomination Title: Sales Coaching Rooms
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the features, functions, benefits, and results to date of the nominated product or service, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions for this category, provide them in the spaces below.
N/A
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 140 words used.
Sales Coaching Rooms Press Release: Info on the product and a Splunk customer testimonial https://www.mindtickle.com/news/mindtickle-unveils-sales-coaching-rooms-to-empower-front-line-managers/
- Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 229 words used.
In the Spring of 2022, Mindtickle announced the launch of its Sales Coaching Rooms, a product that empowers front-line managers to offer impactful feedback to their teams quickly and effectively within the flow of their day. It provides a single location to move deals forward and build the long-term skills reps need to succeed in the field. Sales Coaching Rooms add significant firepower to Mindtickle’s Sales Readiness Platform, as the industry’s first tool to focus on making front-line managers better mentors and coaches.
The product offers a number of time-saving and productivity-boosting features, including:
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Coaching within conversation intelligence (Call AI) to support coaching in the context of real selling or customer support situations
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Coaching integrated with enablement content to drive long-term skill development through practice and reinforcement
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Self-coaching so reps can evaluate their own performance and compare gaps with manager feedback for better one-on-one coaching sessions
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Coaching outcomes factored into the Mindtickle Readiness Index, showing leadership a full-picture view of the readiness of their teams and individuals
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Actionable insights for front-line managers into the lagging skills of individuals to deliver personalized coaching
Krishna Saw, Senior Systems Manager, Enablement and Content Platforms, Splunk states, “With Mindtickle as Splunk Coach’s engine, Splunk can now begin to take action on its main enablement objectives, including increasing sales rep productivity and overall revenue impact, and creating more engaging and personalized learning journeys,”.
- If you are nominating a brand-new product or service, state the date on which it was released. If you are nominating a new version of an existing product or service, state the date on which the update was released:
March 22, 2022
- Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 330 words used.
Mindtickle has had a 308% increase in revenue from 2018 to 2021. Its revenue was $8,511,218 in 2018 and was $34,787,295 in 2021. Mindtickle’s valuation was $1.2B post money as of the latest equity funding.
Recent Mindtickle research found that 8 out of 10 teams with effective coaching practices hit greater than 75% of their sales quotas. Still, according to Mindtickle’s “State of Sales Readiness 2022 Benchmark Report,” significant hurdles stand in the way of front-line managers’ ability to coach effectively. Managers cite lack of time as the No. 1 barrier to coaching, along with technology, the number of reps they manage, and a lack of formal processes.
Janssen, a wholly owned subsidiary of Johnson & Johnson, is one of the top pharmaceutical companies in the world with its India operations contributing $900M USD in annual revenue. Sales reps at Janssen must have in-depth knowledge of technical, complex product offerings and, until recently, it was challenging to ensure sellers always had the training and information they needed to be ready to sell. Managers were also limited when trying to document coaching sessions because their previous tool couldn’t be used in the field. With Mindtickle, Janssen can now deliver all onboarding content, coaching, and bite-sized learning to over 600 sellers on the go, both via desktop and mobile. The company has seen measurable results from these optimizations. Online training scores have improved by 25% and course completion time has decreased by 11%. In addition, the number of skipped modules has decreased by 24%. With coaching forms now powered by Mindtickle, managers can complete them while they are shadowing sellers and record accurate feedback for improvement.
Since launching Nirmaan Academy on Mindtickle, Janssen has experienced a 50% reduction in rep ramp time. The onboarding initiative has also resulted in improved sales outcomes. Janssen experienced a 35% increase in sales after a new sales rep’s first six months and a 10% increase in sales after 18 months.
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