TechnoMile’s Sales Process Automation Enabled Start-up Gilt City To Expand And Grow Into a Successful Premier Lifestyle Site With 4,500 Partners
Gilt City is a premier lifestyle site that makes luxury products and services affordable by partnering up with local businesses to offer discounted deals to the public. What started out as a small business venture in New York has quickly expanded and now operates in 13 major cities across the United States. To date, Gilt City has acquired over 4, 500 partners which include major brands like Kate Spade, Virgin America, and Del Posto, who participate in flash sales and profit tremendously from Gilt City’s unique sales model.
Since having flash sales, Deals of the Day, are at the heart of their business strategy, the company wanted to make it easier to collaborate with local businesses and streamline the sales process.
A typical Deal acquisition cycle would have their sales team would reach out to local businesses in the surrounding area and ask them to run an offer on the Gilt City site. In turn, the business would provide a deal that the sales team could offer on their site to their online consumers. Each individual deal has to go through a stringent approval process. As the company deals with a high volume of accounts from varying industries, they needed a way to keep track of all their deals and automate the approval process.
In order to build a steady pipeline of opportunities for future revenue growth, the company needed to improve specific areas in their sales process, specifically when it came to their complex sales approval process and contract execution, while using enhanced reporting and feedback from their partners to continue to generate and capitalize on opportunities. They also wanted deeper insight into the company’s revenue in comparison from city to city to identify future expansion and growth opportunities.
TechnoMile knew that Gilt City’s innovative business model was capable of generating an incredible amount of revenue, but some processes had to be automated in order for them to become profitable-fast. TechnoMile also knew that performing well thoughtout integrations with third party applications such as DocuSign and Timba Surveys would allow the start-up to close deals faster and capture data from their partners that would benefit their collaboration process with multiple different partners from varying industries a lot easier.
Streamline Sales Approval Process
Since the company was expanding at an alarming rate, it was difficult to keep track of who was responsible for approving or rejecting each individual deal. This became more complex as the company began to collaborate with businesses from multiple industries. Based on multiple factors there were different approval processes requiring varying levels of approvals from within their organization. On salesforce.com TechnoMile was able to automate this complex process so sales executives could submit a case for approval and have the case forwarded to the applicable manager who can then either approve and release a quote or reject the deal.
Simplify Contract Execution Process with DocuSign
To help Gilt City’s sales team close deals faster TechnoMile integrated DocuSign with Salesforce.com. The popular third party application captures and leverages customer data within Salesforce.com, saving time on contract creation by populating documents with pre-existing opportunity data.
Automating the conract execution process resulted in a reduction in contract errors, and increased productivity by eliminating a manual processes. Shorter deal cycles contributed to increased selling time and hence increased revenue for the organization. Strict security policies ensures that sensitive documentation is not exposed to third parties.
Capture Partner Feedback with Timba Surveys
To ensure that partners were satisfied with Gilt City’s services, TechnoMile integrated salesforce.com with a free application called Timba Surveys which simplified the survey creation, submission, and collection process. Partners who participated in a flash sale would receive an online survey 30 days after the deal is taken off the site. This survey is automatically sent from salesforce.com and identifies key concerns from the partner and how much of an impact the deal had on their ROI efforts
Okta Integration for single Sign-in
Gilt City identified inefficiencies with their internal identity management process. Multiple sign-ins for multiple accounts on their company network was time consuming so TechnoMile recommended integrating Salesforce.com with Okta.
This identity management solution allows an individual to do a single sign in for multiple accounts. Normally a user has a different login username and password for the accounting system, expense system, and salesforce.com, etc. With Okta, users only have to sign in once. The time it took to disable an account was also reduced since an account could be disabled from a central source rather than disabling each individual account.
Data Migration from BuyWithMe to Gilt City
In 2011, Gilt City bought out one of their major competitors, BuyWithMe, for an undisclosed sum, growing their consumer base even further and increasing their revenue exponentially. TechnoMile performed a data migration from BuyWithMe’s system to Gilt City’s Salesforce.com ensuring that the business consolidation did not impact business processes or lose valuable contact information and opportunities.
TechnoMile helped Gilt City leverage Salesforce.com’s reporting capabilities. Sales reports allowed the company to consolidate data from all of their regional operations so they can see at a glance which cities are generating the most revenue from their sales model.
For every deal posted, Gilt City receives a percentage of revenue. That amount is captured on Salesforce.com so one can view how many people purchased a deal and the gross profit Gilt City made by partnering on that deal.
TechnoMile’s comprehensive training curriculum ensured Gilt City’s sales team was poised to adapt to these changes in their sales processes.
- Streamlined sales process and increases ROI
- Detailed feedback from partners allowed them to improve on their services
- Has now grown into a 13 city wide operation