• Industry

    Financial Tech
  • Location

    West Palm Beach, FL
  • Solution

    Appointment Setting
  • Web

    openclose.com

OpenClose + EBQ

OpenClose increases name recognition in the LOS spacewith the help of EBQ’s SDR team.

Challenge

OpenClose initially had their sales representatives handle their own prospecting in addition to closing deals. However, the sales reps struggled to strike a balance between developing pipelines and nurturing the lower part of their funnel — a common problem faced by many sales teams.

“A sales rep is really motivated to build their pipeline when they don’t have one. Once the pipeline starts to establish, they get super focused on the accounts at hand and might not take that time to develop the next round of pipeline,” said Chris Olsen, VP of Sales Engineering at OpenClose.

This led OpenClose to recognize their need for an SDR team. However, leadership was hesitant to build an internal SDR team because of the risks associated with hiring internally, such as: handling the high turnover rate of the SDR role, the inability to scale flexibly in between campaigns, and the costs associated with managing an internal team.

As a result, OpenClose decided to outsource their SDR team as a cost-effective solution.

The Solution​ : Appointment Setting at EBQ

OpenClose brought on 2 SDRs from EBQ, with the overall goal of widening their pipeline.

During OpenClose’s partnership with EBQ, the SDR team focused on spreading OpenClose’s message and setting appointments for the sales team to present product demonstrations. As another initiative, the SDRs also reached out to and set appointments with attendees of upcoming conferences that OpenClose would attend.

Meanwhile, EBQ’s Data team was tasked with augmenting those calling lists. Prior to working with EBQ, OpenClose’s contact database in Salesforce was extremely aged and had not been effectively maintained.

“EBQ has done a great job bringing our database current and continually expanding the database with fresh opportunities,” said Vince Furey, Chief Revenue Officer at OpenClose.

OpenClose also credits EBQ’s communication skills and responsiveness throughout the project for helping create a fluid workflow.

“If we were still doing it the same for 24 months, we’re probably doing something wrong. For example, we’ve moved from how we track things in sales, and EBQ has always been responsive and accommodating,” said VP of Sales Engineering Chris Olsen.

EBQ has been able to align to OpenCloses’s own processes, such as how opportunities are tracked in their CRM. The SDR team’s flexibility, along with continuous communication through weekly meetings about the project, allows OpenClose to pivot their approach as needed.

The Results

OpenClose measures EBQ’s success on 2 KPIs: the number of appointments scheduled and deals closed from a lead that originated from EBQ’s efforts. Olsen says EBQ has performed “very well” against these metrics.

With EBQ’s help, OpenClose has been able to increase their brand awareness in the loan origination software market.

“I would say we have a big initiative for OpenClose name recognition in our space as a premier LOS, and EBQ really gives us the ability to spread that message to more people than we would have by ourselves,” says Olsen.

As a long-time partner of EBQ, OpenClose considers the alignment between their reps and EBQ’s SDR team to be part an integral part of the process as they look to grow their internal staff and increase sales in the future.

I would say we have a big initiative for OpenClose name recognition in our space as a premier LOS, and EBQ really gives us the ability to spread that message to more people than we would have by ourselves.

Chris Olsen VP of Sales Engineering at OpenClose
PDF-OpenClose_Case-Study

OpenClose + EBQ

With the help of EBQ’s SDR team, OpenClose can continue to build out their pipeline and position themselves as a premier LOS solution provider.


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