FieldEdge - Sales Growth Achievement of the Year
Company: FieldEdge, Atlanta, GA/Fort Myers, FL
Company Description: FieldEdge is the #1 service management software for contractors to run their service business. It combines a deep 36-year history with the latest technology to create a powerful yet easy-to-use system. With offices in Fort Meyers and Atlanta, FieldEdge serves customers on the national and international level to equip contractors with a powerful SaaS solution.
Nomination Category: Sales Awards Achievement Categories
Nomination Sub Category: Sales Growth Achievement of the Year
Nomination Title: FieldEdge: Growth is About Adapting
Which will you submit for your nomination in this category, a video of up to five (5) minutes in length, explaining the nominated achievement since July 1, 2018, OR a written essay of up to 650 words describing the same? (Choose one): An essay/case study of up to 650 words
The FieldEdge sales team operates in a high-performance sales environment that continuously relays the importance of accountability, personal/team growth and celebrating the little and big wins. The words used to summarize FieldEdge’s sales organization are growth and adaptability. When it comes to setting goals, the team looks at Year-Over-Year (YoY) growth and aims to push the sales team to a new level of expectations. When keeping these goals in mind, it’s important as a growing company to adapt to rapidly changing conditions.
Key Metrics Since July 2018
Total outbound calls: 496,649 (91% increase from last year)
Net Bookings Growth Year Over Year: 35.6%
Growth of the overall sales organization: 181%
New recruit retention rate: 81% (industry average: 66%)
Revenue Growth of overall company over 3-year period: 102%
Overview of FieldEdge’s Sales Environment
The sales team experiences the fastest growth out of all the departments. The overall sales organization has experienced approximately a 181% growth over the previous year. A primary focus has been to scale up the team and FieldEdge did so by increasing the number of SDRs and AEs, adding three SDR managers and adding two AE managers. A new position, Director of Sales Training and Development, was also added to help hone communication/sales skills and develop training resources.
The sales environment pushes the sales team to constantly produce. End of the month sales meetings are held to outline individual and team successes of the previous month and sets expectations for the next month. For every new hire, centralized training plans allow them to roleplay, shadow senior team members, review live calls and have weekly one-on-one sessions with team leads and managers.
With Growth, Comes Challenges
With any company experiencing rapid growth, there are certain challenges that need to be addressed. The main challenges presented to FieldEdge this year were:
Challenge: Aggressive sales goals to increase YoY revenue
Solution: With aggressive sales goals, it’s important to be able to encourage the team and enable them to be successful. Concentrated coaching was a newly implemented strategy where FieldEdge worked with top sales trainers/consultants from The Bridge Group and Factor 8. These sales coaches taught the sales team how to approach sales in a way that focuses not just on the end sale but achieving measurable growth through a holistic sales strategy. Monetary and experiential spiffs were also used to incentivize the team to hit monthly quotas and created a fun, competitive atmosphere where team members could win things such as tickets to an event, gift cards or cash cards.
Challenge: Teaching a new product line to the team so they can present it to prospects
Solution: Internal trainings and creating/nurturing integration specialists
In February 2019, FieldEdge acquired Coolfront Technologies, a zero-cost, flat rate pricing app, in a move to expand product offerings to customers. There was a learning curve involved, especially for the sales team, to ensure they would be able to sell a new product effectively to prospects. In order to facilitate this process, in-depth training sessions were led by Coolfront team members and integration specialists roles were added to create synergy between FieldEdge and Coolfront.
Challenge: Reaching out to broader customer base in other geographical regions of the US
Solution: A West Coast outbound sales team was built out to increase the number of demo bookings.
Conclusion
As a testament of our growth journey, FieldEdge was recognized on the Inc. 5000 list of Fastest Growing Private Companies in America for the third consecutive year, moving up in the ranks over the previous year and contributing an overall 102% three-year revenue growth. The key to FieldEdge’s growth success has always been our ability to adapt to changing conditions and hone in on a detailed strategy to address new challenges. The drive, passion and proven ability to evolve with the times makes FieldEdge a great candidate for the Sales Growth Achievement of the Year Award.