How PreSkale promises to turn leads into real revenue
What’s the key to turning the strongest leads into revenue-generating deals? Independent research suggests that a strong pre-sales operation drives tremendous value in this regard – but many organizations struggle to master this part of the sales process. Enter PreSkale, a California-based start-up announcing a $500,000 pre-seed funding round today.
PreSkale aims to solve customers’ pre-sales problems, says company CEO Ajay Jay, who founded the company with Prashanth Ganesh. “The goal is to ensure sales teams can get deals signed — and signed faster — to accelerate revenue generation,” he says.
For the uninitiated, the term “pre-sales” refers to the part of a sales process between a potential customer identifying your software product as potentially suitable for their needs and signing a contract to purchase it. During this period, the customer typically tests the product, determines what features they need and how to customize it for their own business, and develops a more granular understanding of the software.
This is hard work with no certainty of gain – reaching the point of no return can be a long process, and there is no guarantee that the client will decide to go ahead with the product.
Yet effective pre-sales teams reduce the chances of closing the deal, and closing it quickly. McKinsey research suggests that the most effective pre-sales teams deliver a five-point improvement in conversion rates, a 10-20% faster move of leads through the sales process, and up to to 13% of income. The consultant claims that companies with strong pre-sales capabilities consistently achieve success rates of 40-50% with new customers and 80-90% with renewals, which is significantly higher than average.
The problem, says Jay, is that pre-sales teams don’t have the tools they need to do their job effectively. They receive multiple inputs – document management, meetings, product discussions, proofs of concept and other assets through many different tools – and are in constant liaison with the client and their colleagues. “They don’t have a single dashboard or a single playbook to handle this workload,” says Jay. Consequently, the pre-sales process can be inefficient and unproductive; ultimately, this puts the final sale at risk.
Jay and Ganesh created PreSkale to solve exactly this problem, which they had seen in person in previous roles. “I felt like I found a loophole that needed to be filled,” Jay says of a former role where he simply didn’t have the ability to provide all the support potential clients needed. .
PreSkale therefore offers a single platform through which companies can manage their pre-sales activities, track customer interactions, product designs and iterations, and customer requirements all in one place. “This will support any business with a complex or collaborative product, where the end customer customizes the software to their own needs,” says Jay. “The company will have a pre-sales process in place, but it will be disconnected and often inefficient.”
Ultimately, Jay sees PreSkale delivering value in three different ways. According to him, the first benefits will come from the ability to manage the pre-sales process more efficiently and accurately. But in addition, the platform should allow managers to more closely adapt the skills of their teams to customers as their needs become clearer. And in the long run, as companies begin to build databases of how different types of customers use their software, they will be able to use PreSkale as a business intelligence tool, providing valuable insights to sales teams and engineers. software development.
After launching the business last year, Jay and Ganesh are in the early days of proving this value proposition, but early signs are encouraging. PreSkale has already started onboarding clients and the founding duo quickly grew into a team of 12 people.
The company’s first round of financing should enable it to accelerate both product development and sales. The $500,000 comes from investors led by BoldCap, an accelerator fund specializing in seed investments in software-as-a-service start-ups, with participation from PointOne Capital and several business angels.
“Pre-sales allow sales teams to sell better and bring customer intelligence and product requirements back to the product and engineering teams,” says Sathya Nellore Sampat, General Partner of BoldCap. “They’re important, but massively underserved, and that’s what got us excited.”