6MAY 2021These qualities have become even more crucial over the last year at SlickText as the company has seen phenomenal growth. "We've added 20 employees to our head count and expanded our corporate office in Nashville. With so many new people joining our team, optimizing our processes has been essential," says Wilson. "We work hard to create simple sales strategies that our entire team can understand. It all starts with great training, which is why we've completely overhauled our onboarding process, creating a "SlickText Academy" that each new employee attends." This helps them understand the "why" behind the processes from their first day, allowing the company to be decisive and organized. Wilson and his team are generating and retaining revenue across multiple channels with a long-term perspective rather than the short-term horizon usually embraced by sales departments. "For generating revenue, I believe you must take a horizontal approach to deeply understand the use-cases for your solution, decomposing how customers are actually interacting with the application and ultimately deriving a benefit," he explains. "Once a comprehensive understanding of use-case has been achieved, we look to the nuances of use and benefit induced by the industry in which our customer is participating. In this sense, we better understand what a non-profit may like or need compared to music or media publishers." At that point, the team has deduced the "how" and "what" setting the stage for SlickText to communicate the "why" with the customers. "In order to increase retention, we've created a Customer Success function to organize the support of our customers throughout their journey. This allows us to effectively anticipate when our customers need our help and allows us to align our goals and objectives tightly with theirs. When our customers have success, so do we." There are three key indicators Wilson and his team regularly use to monitor the health of their sales and marketing productivity. The first is understanding their Customer Lifetime Value (CLTV) and comparing that to our Customer Acquisition Cost (CAC). "CLTV allows us to understand the value of a customer to us once in our portfolio. When comparing that against our CAC, which is a great measure of organizational energy required to acquire the customer, we can ensure we are spending appropriately to gain customers and that the ROI remains in bounds," says Wilson. "The second key indicator is measuring how likely every dollar spent in sales and marketing is to generate profit over the next 12 months, known as the CAC Ratio." This allows them to ensure they are efficient and accountable for their spending, focusing on growth and pruning spend with diminishing returns. The final key indicator is the company's Customer Payback Period or CPP. This helps them understand how long a customer must " We work hard to create simple sales strategies that our entire team can understand. It all starts with great training, which is why we've completely overhauled our onboarding process, creating a "SlickText Academy" that each new employee attends "
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