Want to Survive Inflation? Enable Your Teams to Work Smarter — Not Harder

Don’t be a dinosaur of the business world. Create a new, efficient strategy that will ensure your company survives and thrives.

I want to share with you an analogy that my colleague, Demandbase CEO Gabe Rogol, likes to use about dinosaurs and mammals.

For a long time, dinosaurs ruled the earth as the big, loud and most dominant creatures. But then something changed — a meteor and cataclysmic climate change — and all of a sudden, they were no longer set up to be the most dominant. Instead, new species (mammals) were the ones that survived and thrived in this changed world. Why? Because they were more adaptable and flexible. 

This parallels what we’ve seen in the last five years in business. Until recently, the market valued the fastest-growth companies with the loudest roars, and was willing to give them insanely high valuations. Then COVID happened, and even more money was injected into the economy, which just amplified the trend of investing absurdly into growth.

The result was that all these companies ended up sitting on multibillion-dollar valuations and incredibly high-cost structures that may have made them the alphas of yesteryear. But then a proverbial meteor strike — inflation — occurred, and it changed everything. 

So, who will survive and thrive in this world? The mammals again, e.g., the organizations that are nimble and lean. The ones that have efficient cost structures and are growing, but in a rational, steady way. To be this type of company, your go-to-market (e.g., the sales and marketing motions your company uses to acquire, retain and expand customers) must be utterly, unapologetically efficient. 

Equipping Sales With Automation & Intelligence

The first step in elevating efficiency is to empower your sales team to sell more, which could mean you need fewer salespeople to achieve the same targets. You need to make sales development representatives (SDRs) more efficient to generate more pipeline per SDR. You also need your customer success team to retain more customers for this equation to work long-term.

So, then, how do you get more efficiency out of your customer- and prospect-facing teams? The answer isn’t, “they just need to work harder,” because the reality is that most people are already working really hard. Instead, you’ve got to go back to the old philosophy of working smarter. This means enabling the team with account intelligence that makes their job easier, more efficient and more fruitful. 

Account intelligence takes the data you already have but which is trapped in siloed systems, cleans and organizes it, augments it with rich third-party data — including behavioral insights — and makes sense of it with AI.

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