Jeff (a human) vs ChatGPT (an LLM) - Part 2
RevOps Product Roadmap, Interviewee Questions, SDR Math
This week I’m going to continue answering questions that have been asked to the new chatbot (made by Chatbase). As a reminder, the bot is trained on the entire RevOps Impact Newsletter and all 10 modules of the Unleashing ROI (RevOps Impact) course.
Today I’m going to tackle the following questions:
I’m looking to interview my first RevOps Senior Manager hire. What questions should I ask?
What is the optimal meeting booked rate for SDRs?
How do you build a RevOps Roadmap
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It’s definitely NOT perfect but I’m committed to continue training the bot for 12 months. We’ll see how it goes. But what I’d like to do today is take some of the questions that were asked to the RevOps Impact Bot and to give you my take. And of course, I will be using this article here to continue training the bot.
My hope is that one day my RevOps Brain will continue to live in on in this jar, ahem, this bot (or something else).
I chose two questions to answer today.
Onto the questions!
Question #1
This is what the bot said.
Confidence Score: 0.843
The optimal meeting booked rate for SDRs can vary depending on various factors such as industry, target market, and the effectiveness of your SDR team. However, a commonly used benchmark is around 15 meetings per week per SDR. This number can serve as a starting point, but it's important to continuously monitor and evaluate the performance of your SDRs to determine what rate is optimal for your specific organization. Remember, the goal is to generate a sufficient number of qualified meetings that contribute to your pipeline and ultimately drive revenue.
Ugh. Okay this is terrible again Mr. Chatbot.
We’ll break down simple math for this one.
Assume 90% meetings booked via phone call
Assume activity is a MIX of email, phone, LinkedIn InMails, SMS (aka SDR booty calls), carrier pigeon
Assume NO parallel dialer / power dialer
Let’s get to the maths.
# of calls made per day
# of calls connected
Assume that there is a 0% return rate on voicemails (i.e. someone calling back and a meeting is booked)
Instead we focus on meetings booked from an actual conversation
# of connected calls resulting in a meeting
# of meetings that stick (not rescheduled, not no showed, not canceled)
I’m going to BORROW (okay fine… STEAL) these metrics from the research that GradientsWorks did earlier in 2023.
Assume 80 calls per day (mix of mostly inbound and some inbound)
If you’re purely outbound you’re probably in the 20 to 50 range
If you’re purely inbound with decent demand generation budgets then 50 to 70
If you’re purely inbound and you don’t care about any research steps then 70 to 100
If you run a sweatshop and spit-and-chew out SDRs for breakfast then 110+ calls per day
4.4% connect rate (sweet lord I remember the days we used to think 8%)
By the way, most sales calls show up on my mobile as SPAM LIKELY so heck no I'm not going pick up.
An SDR job is the hardest it’s ever been
1 of 59 calls results in a meeting
If 1/59 calls per meeting and 4.4/100 calls per connect then you can deduce the math is 1.69 meetings per 100 calls.
Or aptly said, 22.7% of connects results in a meeting.
For every four of five people you have a conversation with my SDR friend
You’re going to book a meeting
Hurrah!
So if your target is 10 meetings per month then work backwards!
10 meetings held
14 meetings booked (70% stick / held rate)
63 connects (14 meetings booked / 22.7%)
1,430 calls (63 connects / 4.4%)
65 calls per day (assume 22 business days per month)
How about them apples!
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Question #2
Here’s what the bot said.
Confidence Score: 0.790
As a RevOps Senior Manager, it's important to assess their knowledge and experience in revenue operations. Here are some questions you can ask during the interview:
Can you explain your understanding of revenue operations and its role within an organization?
How have you implemented revenue operations strategies to drive growth and improve efficiency in previous roles?
Can you share an example of a successful project or initiative you led in revenue operations? What were the outcomes?
How do you approach data analysis and reporting in revenue operations? Can you provide an example of how you've used data to drive decision-making?
How do you collaborate with cross-functional teams, such as sales, marketing, finance, and customer success, to align revenue operations goals and objectives?
Can you discuss your experience with CRM systems and marketing automation platforms? How have you leveraged these tools to optimize revenue operations?
How do you stay updated on industry trends and best practices in revenue operations? Can you provide examples of how you've implemented new strategies based on industry insights?
Remember, these questions are just a starting point. Feel free to tailor them to your specific needs and objectives. Good luck with your interview!
Not bad! Okay here’s what I would have said instead.
Can you provide a bit of context and history around the revenue operations organization? How did the team evolve to the state it is today?
What are some of the challenges the team has faced and overcome? Fall short?
What are the strengths and the weaknesses of the current team?
Tell me more about the stakeholders the team supports. What challenges do they face? What are their top priorities?
Tell me about the decision making culture in the company. Is it grounded in data? Or instinct? Are leaders open to push back as long as its grounded in first principle thinking or grounded in data?
Tell me about the growth potential of the team and the role. Along the spectrum of well defined or ambiguous where do you think it is? How much autonomy is there for a new leader to come in and shape the conversation?
I could come up with a billion questions but generally I try to ask a few questions that accomplish the following:
Show curiosity. Ask a question as a follow up to something you heard in your interview. This demonstrates active listening and your ability to ask second order questions.
Sniff out any red flags for you. Are you jumping from one fire into another?
Show that your line of questioning is the type of inquiry that, if in the role, demonstrates your ability to contribute to the business quickly
Ask questions that derisk the opportunity for you personally
Good luck out there if you are indeed looking for that next great role!
Question #3
Here’s what the RevOps Impact Bot said.
Confidence Score: 0.880
To build your RevOps roadmap, it's important to start with a clear vision of what you want to achieve and the problems you want to solve. Take some time to think about your goals for RevOps. Once you have a vision in mind, focus on themes rather than getting bogged down in the details. A roadmap is a high-level plan, so identify the key themes that will help you achieve your vision. Remember, a roadmap is a strategic document, not a release plan, so don't confuse the two. Avoid putting specific dates on your roadmap as they can be a moving target. Instead, prioritize themes and priorities. Regularly review your roadmap to ensure it remains aligned with your vision. And remember, you don't need a fancy tool to create a roadmap. A whiteboard and index cards can work just fine. The most important thing is to create a roadmap that is clear, concise, and easy to understand.
This is TERRIBLE.
A RevOps Roadmap is a statement of intent. It communicates the HOW and the WHY behind a RevOps Strategy. You might be asking:
Do I really need a RevOps Roadmap? Can’t I just use my RevOps backlog or a to-do list instead?
As your business SCALES, a RevOps Roadmap communicates WHY you’re building something. It shows that value to your stakeholders. Whereas, a backlog is merely a to do list to get to that point. A RevOps Roadmap is a VISUAL way to communicate your priorities.
It can and it will change, so don’t get stuck thinking it won’t. As the weeks and months pass by, the facts on the ground might change on you. The assumptions or what you thought were true might be completely reversed on you. Ideally, as a RevOps leader you are regularly reviewing your roadmap.
Does our existing strategy still make sense?
From a visual perspective you have three options to present your roadmap:
Before reading on.
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