IMPROVING THE ABILITY TO VALUE WHITE SPACE MARKET
Leveraging Salesforce automation and reporting to create White Space reporting.
Saving the hospitality industry globally
Hospitality is under attack, and Triptease is here to save it. Their platform helps hotels get more direct bookings and build stronger guest relationships by managing parity and delivering personalized online messaging. They use their unrivalled insight into guest behaviour to increase conversions for every client. They are the leaders of the Direct Booking Movement and are shifting the world to direct. Their mission is to innovate, educate and empower hoteliers to take control of their website and bring hospitality online.
We speak to Sean Bennett, SVP Sales who is at the forefront of making their mission happen. Aislinn Nichol, the Group Finance Director who is managing the overall health of the business to help with its strategic direction
With over 10,000 customers globally, Triptease is capturing a lot of data in their CRM. The complexities of their pricing structures and products had meant that data had to be manipulated from outside the CRM to create an understanding of their gaps and opportunities. We talked to Sean and Aislinn to understand how the business was able to get their head around all this data.
"We had a huge visibility gap to understand our total addressable market and the white space opportunity." Explains Sean. "It was difficult to assess where we could put our resources to maximise revenue. We were running blind on our total addressable market and penetration across our accounts in order to make decisions around building the teams, forming strategic and tactical plans and running the business."
"We had a huge visibility gap to understand our total addressable market and the white space opportunity. It was difficult to assess where we could put our resources to maximise revenue."
"It was difficult to get aligned as a business on what the opportunity actually was." Says Aislinn. The alternative for Triptease at the time was using a google sheet to bring together the data although for sometime this worked. However, running the sheet was very manual, had a high error rate and due to relying on one person to manage it, when the they left they were left with a gap again.
"We lacked sophisticated understanding of our Salesforce CRM as well as a gap in resource who deeply understood the sales process and RevOps to help us get a clear view."
AN OPERATIONAL SALESFORCE REPORT TO MEASURE MARKET WHITESPACE
Triptease was using Salesforce as its sales CRM which had all the hotel prospect data as well as customer and opportunity data, however due to complex hierarchies and opportunity processes reporting on whitespace from within Salesforce and getting the right insights was too challenging.
Think RevOps set out the design and implement an automated solution in Salesforce that would enable Triptease to have access to the right insights from within Salesforce
BUILD CUSTOM OBJECTS AND WORKFLOW TO AUTOMATICALLY CAPTURE WHITESPACE & WHITESPACE CHANGES
We first assessed Triptease offline reports as well as Salesforce opportunity and account processes to understand what was required and where the gaps were in Salesforce. Following this we then designed what the correct process should look so that the right data was captured.
At implementation, it meant we had to build custom objects that were linked both to accounts object (capturing parent-child relationships) as well as opportunity sales object to capture sales made as well as upsell/expansions and renewal.
A workflow was then created to automatically capture the data from the account as and when a change or update happens as well as from the opportunity as and when an opportunity was created, updated and closed.
Finally we build a master report that would capture for each account (the parent-child relationships), the potential value, the open value and the white space value.
TRANSPARENTLY MEASURING PERFORMANCE AND TEAM ALIGNMENT
Triptease had to re-think the way they managed their whitespace data and insights, so they turned to Think RevOps. Initially they thought they would be able to have a temporary resource to plug a hole and manage the white space sheet. However, what they found was that Think RevOps was much more than that. With Think RevOps, Triptease was able to simplify their data, automate their processes in Salesforce and create access and visibility to their whitespace insights at the tip of their fingers.
"Think RevOps was able to create simplification of our data which led to a much clearer understanding of our total addressable market and our whitespace opportunity. With these insights we are now able to resource people in the right areas and we know where to invest in marketing campaigns. We are convinced that we are now in a much better place to recover quickly and generate significantly more revenue. Think RevOps has saved us a lot of time." Sean elaborates.
"We are convinced that we are now in a much better place to recover quickly and generate significantly more revenue. Think RevOps has saved us a lot of time."
Triptease chose to partner with Think RevOps to help them understand their whitespace opportunity in the customer journey to feed their acquisition and growth goals.
"We are now much more agile and we can make future decisions quicker and more confidently. For the first time in the last four years there is alignment across the leadership team on the actual value of our white space." Says Aislinn confidently.
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We also asked Sean and Aislinn about their experience working with Think RevOps.
"We really liked Think RevOps operating model as it gave us what we needed exactly to effectively cover the gap we had. It also allowed us to have some flexibility which we needed especially due to the impact of COVID-19."
Triptease chose Salesforce Implementation Services, as it matched their need to focus on specific projects at a time.
"Think RevOps guided us around our requirements in terms of what we thought we needed and helped us consider everything that would be relevant and then create a detailed plan and executed on the plan. It was a great partnership as they were truly an extension of Triptease."