How a Data Center Infrastructure Management Software (DCIM) Company Can Grow Revenue

Joshua Feinberg discusses strategies for a data center infrastructure management software (DCIM) company to grow revenue.

He emphasizes analyzing past successes to identify ideal client profiles and target accounts.

Collaboration across the go-to-market team, including account managers, product managers, sales teams, and channel partners, is crucial.

Growth strategies include expanding existing accounts through customer marketing and educating clients via webinars and email.

For new prospects, a multi-faceted webinar program is recommended.

Feinberg highlights the importance of adapting to modern buyer preferences, which now favor digital engagement, and stresses the need for empathy and understanding of clients' goals and challenges.

This video is excerpted from the podcast Ep. #73 Joshua Feinberg, CEO of DCSMI | Data Center Go-to-Market Podcast.

Action Items

Analyze past successful clients and use cases to define the ideal client profile and target account list.
Engage the full go-to-market team (account managers, product managers, sales, marketing, etc.) to gather input on revenue growth strategies.
Develop a webinar program to educate existing clients on additional product features and benefits.
Create an educational content and events calendar to position the company as a thought leader and trusted advisor for potential new clients.
Evaluate the sales approach to better align with the modern, self-guided buyer's journey of IT professionals.
Coordinate revenue growth strategies between direct sales and channel partners.

Outline

Understanding Success and Client Profiles

Joshua Feinberg discusses the importance of identifying where the company has been most successful in the past, looking at reviews, testimonials, and case studies.
He emphasizes the need to understand which clients have the best path from initial value to extended value and which are most profitable and strategically aligned.
The conversation highlights the necessity of input from various go-to-market teams, including account managers, product managers, sales teams, and channel partners.
Joshua mentions the role of executive sponsors, such as the Chief Commercial Officer or Chief Revenue Officer, in growing revenue.

Defining Ideal Client Profiles and Target Accounts

Joshua explains how understanding past success influences defining ideal client profiles and target accounts.
He stresses the importance of segmenting target accounts based on buyer personas and prioritizing them.
The discussion includes the need to catch up with competitors who have been successful in this space for over a decade.
Joshua suggests looking at both digital infrastructure and SaaS companies for lessons on revenue growth.

Revenue Growth Strategies

Joshua outlines different ways to grow revenue, including expanding existing accounts and generating new accounts.
He emphasizes the role of the Chief Revenue Officer in setting objectives, key results, and key performance indicators (OKRs and KPIs) for account managers and executives.
The conversation covers the importance of structuring the sales team and involving channel partners in revenue growth planning.
Joshua discusses the need for customer success and account managers to work on expanding revenue for existing accounts.

Expanding Revenue with Existing Clients

Joshua suggests using webinars and email marketing to educate existing clients about other offerings they may not know.
He highlights the importance of cross-pollinating the success of early adopters with the rest of the client base.
The discussion includes webinars, live case studies, and recorded content to showcase successful clients.
Joshua emphasizes the need for a multi-pronged approach to expand revenue among existing clients.

Generating Revenue with New Prospects

Joshua explains the complexity of generating revenue with new prospects, especially when dealing with both direct sales and channel partners.
He discusses the importance of understanding the types of companies that do best with the software and the individual buyer personas involved.
The conversation includes building an educational content calendar and events calendar to engage with potential clients early and often.
Joshua suggests using various formats, such as webinars, live streams, and podcasts, to educate and build trust with multiple stakeholders.

Adapting to Changing Buyer Preferences

Joshua highlights the importance of adapting to changing buyer preferences, citing research from Gartner and McKinsey.
He discusses the shift towards digital buyer journeys and the need to meet buyers where they are.
The conversation includes the impact of generational changes and the work-from-home trend on buyer behavior.
Joshua emphasizes the need for extreme empathy and understanding of the goals and challenges of IT professionals.

Meeting Buyers Where They Are

Joshua stresses the importance of meeting buyers where they are, as educational resources, consultants, and thought leaders.
He discusses the need to provide value and keep the team competitive in a changing market.
The conversation includes the role of webinars and other educational content in building trust and educating buyers.
Joshua highlights the importance of nurturing relationships and understanding buyer interactions to drive revenue growth.

Channel Partnerships and Revenue Growth

Joshua discusses the pros and cons of channel partnerships in driving revenue growth.
He emphasizes the need for a multi-faceted approach to educate and build trust with channel partners.
The conversation includes understanding the ramp time and efforts required to build trust with channel partners.
Joshua highlights the need for a structured approach to involve channel partners in revenue growth planning.

Key Considerations for Revenue Growth

Joshua outlines key considerations for a data center infrastructure management software company looking to grow revenue.
He emphasizes the importance of understanding the job being done for clients and factoring it into the overall playbook.
The conversation includes defining clear objectives, key results, and key performance indicators for different roles.
Joshua highlights the importance of a multi-pronged approach, including webinars, email marketing, and other educational content.

Empathy and Adaptation in Sales

Joshua emphasizes the need for extreme empathy and understanding of the goals and challenges of buyers.
He discusses the importance of adapting to changing buyer preferences and meeting buyers where they are.
The conversation includes providing value and keeping the team competitive in a changing market.
Joshua highlights the importance of nurturing relationships and understanding buyer interactions to drive revenue growth.

Resources

Watch the full podcast Ep. #73 Joshua Feinberg, CEO of DCSMI | Data Center Go-to-Market Podcast

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