Qstream, Burlington, MA
Company: Qstream, Burlington, MA
Entry Submitted By: MKM Corporate Communications
Company Description: Qstream helps leading brands and 8/top 10 life sciences companies to manage the effectiveness of their sales and product teams. Developed at Harvard, Qstream’s neuroscientific approach has been validated in 20+ randomized trials to boost performance and durably change on-the-job behaviors. Available in 12 languages, the SaaS platform is easily deployed/at scale in both mobile and desktop.
Nomination Category: New Product & Service Awards Categories
Nomination Sub Category: Sales Automation Solution – New Version
Nomination Title: Qstream Sales Performance Analytics Platform
Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and sales to date:
Are your sales reps ready to win? How do you know? According to Forrester and many other research firms more than one-third of enterprise sales reps today – even those with extensive market and product training – show up at sales calls unprepared or unable to apply the knowledge and skills they need to win deals.
Qstream fixes that, providing a radically new way to manage and measure the performance of professional sales teams at scale. The intuitive enterprise platform leverages the power of neuroscience, predictive analytics -- and fun, competitive challenges -- to increase the knowledge and skills of client-facing teams using any mobile device in minutes a day.
At the same time, unique system-generated insights in the form of real-time graphical dashboards help sales leaders identify and proactively manage gaps. Qstream’s next-generation analytics instantly and continuously synthesize millions of data points into sales fluency “heat maps” and highly targeted coaching actions that maximize growth initiatives and minimize risk.
Other sales enablement/automation solutions today are designed to tether client conversations to rote presentations or content in the name of automation – or simply apply gamification to incent process behaviors, such as CRM system activity.
Yet these approaches haven’t delivered anticipated impact on sales productivity – or revenue – mostly because they address operational issues for sales and marketing, and not sales reps, sales coaches, or even customers.
CRM systems don’t close deals, your people do.
Developed at Harvard, Qstream prepares sales reps for the kind of personalized, value-added business conversations that drive revenue – just by letting them play a game on their phone in minutes a day.
Using the Qstream app on any mobile device, reps respond to scenario-based Q&A challenges via push notifications (or from directly within their Salesforce.com instance), then see brief explanations that reinforce the best responses and strengthen skills. Built-in game mechanics, including leaderboards and scoring, engage reps in an ongoing experience that’s fun and non-disruptive to selling time.
Qstream’s Predictive Insights Engine sifts and analyzes response data to provide continuous real-time management updates, comparisons and trends on sales force capabilities, as well as targeted coaching actions that contribute to management’s ability to anticipate gaps that can compromise forecasts and revenue streams, or create other risks.
Simple math shows us that a 5% performance gain from the middle 60% of sales performers yields over 70% more revenue than a 5% shift in the top 20% of the sales force. The key to “moving the middle” is understanding, with data, where individuals are today (what they know and don’t know, where their strengths and weaknesses are) and then changing that. Qstream has been proven in over 20 clinical trials to deliver up to 170% increase in knowledge retention and durably change behaviors. And, no other company has managed to crack the code on creating such high levels of engagement at 94% on average.
Since the new Qstream mobile platform debuted in mid-2013, it’s been used by hundreds of thousands sales professionals across the globe in more than 100 strategic accounts. Today Qstream is used by eight of the top 10 life sciences and other leading brands in tech and financial services, including Xerox and Wells Fargo.
The platform is also used by a growing network of industry solution providers, such as CEB, Richardson Sales Training, and Force Management to help transform the behaviors of their clients’ enterprise sales teams.
“Reinforcement and adoption are critical components to the success of any sales initiative,” said Grant Wilson, managing partner at Force Management. “The Qstream platform benefits both Force Management and the many sales organizations we serve by reinforcing key concepts and accelerating long-term adoption. This ultimately drives increased revenue and true sales transformation.”
A privately held, VC-backed company based in the Boston area, Qstream has been named among the top sales tools by Smart Selling Tools and Silicon Valley’s Aragon Research, and quadrupled its FY14 revenues.
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