MarketStar Bulgaria

BACKGROUND

Please describe your company and position.

I am the CTO & Co-Founder of Generic Soft

Describe what your company does in a single sentence.

Generic Soft specializes in the creation of web-based platforms, mobile applications, machine learning solutions and IoT.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire MarketStar Bulgaria (formerly Out2Bound) to accomplish?

• Help us build and improve the sales process
• Gather the relevant knowledge required for effective IT sales
• Acquire and adapt the best practices in negotiations, discovery phases and contracts

SOLUTION

How did you find MarketStar Bulgaria (formerly Out2Bound)?

• Online Search
• Referral

Why did you select MarketStar Bulgaria (formerly Out2Bound) over others?

• High ratings
• Close to my geographic location
• Great culture fit
• Good value for cost
• Referred to me

What was the size of MarketStar Bulgaria (formerly Out2Bound)’s team?

30

Describe the scope of work in detail. Please include a summary of key deliverables.

To equip software companies with the skills, knowledge, and tools necessary to successfully sell their products or services, enhance customer relationships, and increase overall revenue. Scope of Work:

• Sales Strategy Development:
  a. Identifying target markets and customer segments
  b. Defining unique selling propositions (USPs)
  c. Setting sales goals and objectives
  d. Developing a sales funnel and process
  e. Creating a sales playbook with best practices
• Sales Team Training:
  a. Workshops on sales techniques and methodologies (e.g., consultative selling, solution selling, SPIN selling)
  b. Role-play exercises for real-life sales scenarios
  c. Training on effective communication and presentation skills
  d. Time management and productivity techniques for sales teams
  e. Training on using CRM tools and other sales enablement software
• Lead Generation and Prospecting:
  a. Strategies for lead generation, including inbound and outbound marketing tactics
  b. Techniques for effective prospecting and cold outreach
  c. Training on social selling and networking
  d. Utilizing analytics to identify high-potential leads and target accounts
• Sales Negotiation and Closing:
  a. Workshops on negotiation tactics and strategies
  b. Understanding different buyer personas and their pain points
  c. Techniques for handling objections and overcoming challenges
  d. Closing

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

• Increase in Qualified Leads
• Enhanced Sales Team Skills
• Process Efficiency
• Customer Retention and Expansion
• Revenue Growth
• Market Share and Brand Recognition
• Sales Team Expansion and Success

Describe their project management. Did they deliver items on time? How did they respond to your needs?

The project management throughout the Sales Accelerator programme was truly exceptional. They delivered all items on time, adhering to the agreed-upon schedule while ensuring the quality of their deliverables. The programme's well-structured and organized approach allowed us to stay on track and make the most out of the learning experience.

Their responsiveness to our needs was commendable. The team took the time to understand our unique requirements and challenges, tailoring their approach to address specific pain points and capitalize on our strengths. They maintained open lines of communication and were always available to address any questions or concerns that arose during the programme.

Furthermore, they proactively sought feedback from our team to ensure continuous improvement, making necessary adjustments to the programme content and delivery to better meet our needs. This level of engagement and commitment to our success made the Sales Accelerator programme an invaluable experience.

In summary, the project management of the Sales Accelerator programme was outstanding, with timely delivery of items, a keen focus on addressing our specific needs, and a high level of adaptability to ensure our success. Their commitment to excellence in project management played a crucial role in the positive outcomes we achieved through the programme.

What was your primary form of communication with MarketStar Bulgaria (formerly Out2Bound)?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

The most impressive aspects of this company were their deep expertise in sales strategies, their ability to customize the programme to our specific needs, and their unwavering commitment to our success. Their comprehensive approach to sales training, coupled with their focus on practical, real-life scenarios, made the learning experience truly unique and effective. The company's passion for empowering businesses to excel in sales truly set them apart from others in the industry.

Are there any areas for improvement or something MarketStar Bulgaria (formerly Out2Bound) could have done differently?

While MarketStar Bulgaria (formerly Out2Bound) delivered an exceptional programme, there is always room for growth, and they could continue refining their content to stay ahead of evolving market trends and emerging sales techniques.

BACKGROUND

Please describe your company and your position there.

I am Marketing Manager in a well-established software development company in Bulgaria. The company provides a wide range of IT services - R&D, custom software development, IT consulting, SI, etc.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Out2Bound?

Our company wanted an external partner to support the internal marketing team in demand generation - lead gen, and account management on Linkedin, targeting C-level management from the banking industry. We worked with Out2Bound a year ago and were very satisfied with their practical approach and proven methodology and therefore decided again to contract the team.

SOLUTION

How did you select this vendor and what were the deciding factors?

WOM and peers' recommendation

Describe the project in detail and walk through their service package.

Together, we have developed a lead gen strategy and plan how to reach our target audience. The project started with the definition of buyer and user personas, pain points, a brief description of our services and products, and what kind of client's problems can be addressed. Then, the agency prepared cadence communication and a list of prospective contacts, which was fine-tuned regularly. The agency carried out all email automation, database update, cold calling, and meeting arrangements with prospects. The workflow was streamlined; however, all changes were made agilely when needed.

How many resources from the vendor's team worked with you, and what were their positions?

2 people - 1 account manager and 1 supervisor

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

At the project start, we defined monthly KPIs. Each month the team has outperformed the stated KPIs, and even more, they have suggested ideas on how we can improve the results.

How effective was the workflow between your team and theirs?

Excellent communication and collaboration.

What did you find most impressive or unique about this company?

They jumped into our shoes very quickly; the initial training was short yet productive. The guys are very adaptive and tech-savvy, so they quickly grasp the concept of our services and products.

Are there any areas for improvement or something they could have done differently?

I don't think so right now they are doing things right.

BACKGROUND

Please describe your company and your position there.

I'm managing the Bulgarian branch of a Norwegian fintech company.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Out2Bound?

We needed a proper sales process and execution and in place in order to successfully grow a merchant network on the local market. Having a dedicated team in house was not an option therefore we contacted Out2Bound.

SOLUTION

How did you select this firm and what were the deciding factors?

We had a direct contact and very good references. After meeting with the management team and discussing the pain points, they came up with a very detailed proposal matching our needs, so the decision to hire them was a no-brainer.

Describe the project in detail and walk through their service package.

The project consists of:

• research and preparing lead databases based on set criteria
• sourcing contacts
• developing cadence plan, email content and phone call script
• series of contacts and follow ups
• meetings

How many resources from the vendor's team worked with you, and what were their positions?

There are 3 people dedicated to our project.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

All leads were contacted in a structured manner, diligent follow ups were in place and detailed reporting.

How effective was the workflow between your team and theirs?

The collaboration goes very smoothly.

What did you find most impressive or unique about this company?

impeccable process structure and approach; Care, getting into the precise context of the project. Dedication and attention to detail.

Are there any areas for improvement or something they could have done differently?

It took some time for the team to get familiar with the industry and required a lot of involvement on our side and clarifying the general aspects over and over again. That could be due to the junior team. Overall they handle the project well.

BACKGROUND

Please describe your company and your position there.

Our company is a creator of broadcast software solutions. I am in charge of the operations and strategy of the company.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Out2Bound?

Out2bound helped us on the sales side, specifically the outbound marketing in our international expansion.

SOLUTION

How did you select this firm and what were the deciding factors?

Out2bound has been recommended to us by some of their customers. The methodology they offer was also decisive because they use already proven concepts. On the other hand, the company remains flexible. The company uses an approach with a predetermined but flexible schedule, clear reports, understandable segmentation of stages, and a results-oriented attitude.

Describe the project in detail and walk through their service package.

Out2bound provides an outbound marketing strategy and execution. Out2bound’s team was in charge of preparing and executing the defined action plan by contacting B2B customers who might be interested in our solutions. By establishing the connection through various channels and scheduling, intro calls Out2bound were able to execute their part of the mission.

How many resources from the vendor's team worked with you, and what were their positions?

We had a team of 2: an operational manager and a leader.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

Thanks to their experience and knowledge in outbound marketing, Out2Bound saved us a lot of time establishing the first contact with potential clients. This enabled us to focus on inbound marketing and our core business: software solutions. We took the customers after the connection was established and focused on their needs, projects, and solutions. We didn’t need to split resources between sales, pre-sales, or outbound marketing. We were focusing on the pre-sales side.

How effective was the workflow between your team and theirs?

Having updates weekly was helpful to be agile enough and adapt the direction if needed. The report, on the other hand, helps better build the new campaigns and the overall strategy. Out2bound are also very flexible, which is a big plus.

What did you find most impressive or unique about this company?

We were impressed by their speed of execution of the milestones. The second thing which comes to my mind is their proactive attitude: if something doesn’t work enough or there is a field for improvement, they always come up with an idea how to improve, straighten or change the situation.

Are there any areas for improvement or something they could have done differently?

They are open-minded and accept new ideas for improvements, making their service flexible and adaptive to various situations. They embrace new ideas.

BACKGROUND

Please describe your company and your position there.

I'm the growth responsible for a computer vision and machine learning software company. We service OEMs in the consumer electronics sector as well as independent software integrators.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Out2Bound?

Our company is a deep tech startup with a strong focus on technology. O2B almost completely removed the need to use any in-house resources for cold outreach.

SOLUTION

How did you select this firm and what were the deciding factors?

O2B was introduced as a strong recommendation from our lead investor. They have successfully supported multiple startups in his portfolio.

Describe the project in detail and walk through their service package.

O2B acted as a sales accelerator enhancing our sales efforts through a well-structured outreach process through email, Linkedin and cold calls.

How many resources from the vendor's team worked with you, and what were their positions?

1 outreach manager 1-2 project managers

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

They managed to generate significantly more leads and in shorter periods than our internal sales team for similar outreach targets. We reduced our internal outreach efforts to almost zero as they were consistently outperforming us, allowing the sales team to focus on actual lead conversion vs. lead generation.

How effective was the workflow between your team and theirs?

Highly effective. O2B offered concise and well-structured monthly reports and synchronization was usually done in weekly calls.

What did you find most impressive or unique about this company?

They were adding a lot of value to our business from the get-go: frictionless onboarding, value-driven support, minimal coordination, high flexibility and well-defined processes.

Are there any areas for improvement or something they could have done differently?

I can't think of any.

BACKGROUND

Please describe your company and your position there.

Tumba Solutions is a trusted software development partner for ingenious startups, SMEs and enterprise businesses worldwide. Company involvements vary from designing and developing mobile applications and MVPs to building distributed systems at scale while transforming existing products with cutting edge technologies and concepts.

We are also working on in-house products in web 3.0, SSI, EMM and Digital Health space. My role is Head of Business Development.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Out2Bound?

Our company was able to source new projects only based on recommendations. We wanted to gain knowledge of how B2B IT sales work, build our internal processes, generate new business opportunities and expand our network. We saw that there are many vendors on the market offering outsourcing of sales for IT companies.

We needed a partner who can help us build understanding and an internal process of lead generation as well as lead the research and outreach to the target industries. We hired O2B to develop and execute a 3-wave sales campaign, research target domains and provide us with new business opportunities.

SOLUTION

How did you select this firm and what were the deciding factors?

We were looking for a sales development agency that helps technology companies to attract new b2b clients and access new markets. We considered multiple agencies, looking at their services, price structure, and communication style. However, O2B has been on our radar for a few years.

They have been recommended to us, but in the end they reached out to one of our co-founders. Their approach and communication style were what made us decide to work with O2B.

Describe the project in detail and walk through their service package.

O2B shared with us a Questionnaire based on which we had 2 follow up discussions in order to identify the target domains, markets, types of services and companies that will be ideal as a new client. We shared with them a few communication materials and they developed the complete communication strategy, cadence and reached out to the selected leads.

They also suggested process improvements, gave us recommendations on our communication materials and provided us with very helpful tips before each call with potential clients.

How many resources from the vendor's team worked with you, and what were their positions?

Our main point of contact is an account manager and one of the co-founders, who is also Head of Operations. We were also in contact with the other co-founders.

RESULTS & FEEDBACK

Can you share any outcomes from the engagement that demonstrate progress or success?

We expanded our network extensively. We had several productive meetings with potential partners and we landed a new client, 100% matching our criteria.

How effective was the workflow between your team and theirs?

We had weekly online meetings to go over their performance and align on tasks. If there was a time-sensitive issue, we communicated in a dedicated Slack channel. They were always quick to respond, propose new ideas and follow-up on the assignments even if they were slightly out of scope of work. One of the other co-founders also checked in with us every month.

What did you find most impressive or unique about this company?

O2B have a great communication style, they are truly involved in the assignments and always try to get the bigger picture and improve it. Even though we had an agreement for an outbound sales campaign, they helped us by improving our communication materials and preparing us for the calls with potential clients.

They gave us valuable insights on sales process and negotiations. They were extremely quick to identify leads and follow up on any of the ad-hoc assignments.

Are there any areas for improvement or something they could have done differently?

No. They not only delivered what was committed but over delivered.

BACKGROUND

Please describe your company and your position there.

I am Sales Executive at Identrics. The company creates bespoke automation and artificial intelligence solutions, delegating organisations’ menial data and text processing tasks to machines so that humans can focus on high-end, insight-oriented work. Its solutions range from data classification and indexing to content enrichment – such as named entity recognition, sentiment analysis, all the way to automated content recommendation and generation.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Out2Bound?

Four our abstractive summarization technology which is new to the market.

SOLUTION

How did you select this vendor and what were the deciding factors?

Great credentials and referrals. They have a complete and thorough process indicating that they know what to do and have described all it all on their website. They have an agile and result-oriented mindset that fits our culture.

Describe the project in detail and walk through the stages of the project.

The scope of the project was to organize meetings with the decision-makers of companies in the Media Intelligence industry (Media monitoring companies, Market Research Companies and Business Publishers) The goal was to get them interested in our innovative technology that can help them optimize their processes.

The team helped us by structuring a sales cadence with communication toward all verticals, the generation of prospects lists, and performing all communication up to the time of the initial call/meeting. They helped us structure our strategy and stay focused in order to achieve better results and more meetings.

How many resources from the vendor's team worked with you, and what were their positions?

2 people team consisting of Team lead and our main contact person who managed the whole process.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

We managed to get a lot of vital feedback from about 20 meetings that gave us valuable insight on how to proceed further and establish a successful sales process for our new product/technology.

How effective was the workflow between your team and theirs?

Despite some delays on our end they managed to deliver everything and on time. During the last month of our cooperation, they went beyond our agreement to cover the communication with the interested prospects. They are great to communicate with and give a transparent report every step of the way.

What did you find most impressive or unique about this company?

They were consistent in their approach which is accompanied by an excellent process that helped us build our sales pipeline from the ground up. They have a lot of experience and agility that gives them an edge. They were adaptable, agile, and fast workers.

Are there any areas for improvement or something they could have done differently?

I cannot think of anything.

BACKGROUND

Please describe your company and your position there.

I am the CEO of an outsourcing IT company in Bulgaria. We have around 20 employees and specialize in back-end Java, PHP, and native mobile development.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Out2Bound?

We hired Out2Bound to help us create a working strategy for client acquisition and the overall direction of the company. They also performed business development services on our behalf, connecting us with various potential clients.

What were your goals for this project?

The goal of the project was to widen our partner network and fill up our free capacity with new projects.

SOLUTION

How did you select Out2Bound?

Out2Bound are a proven company that has been used by a number of our partners, all of them having positive outcomes of their partnerships. When we decided we wanted outside help in our BizDev department, we weren't hesitant that Out2Bound could get the job done.

Describe the scope of their work in detail.

The scope of the work was to build a business development strategy and execute it until we satisfy our needs. Each month Out2Bound selected a pool of potential partners that we filtered and they contacted. They helped organized meetings and allowed us to talk with a considerable amount of companies.

What was the team composition?

There was one main point of contact from Out2Bound's side which was managing the main volume of work. We also were in touch with a manager from their side who was overseeing the work.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

As an outcome, we've set a number of successful client meetings. The outcome was easily achieved by Out2Bound.

How effective was the workflow between your team and theirs?

Out2Bound were very organized. They had strict rules for keeping track of their process and notifying us of results. They kept continuous communication with our team and were very responsive.

What did you find most impressive about this company?

Out2Bound are experts in their field. They deliver on their promises and you can trust their judgment and advice.

Are there any areas for improvement?

I can't think of anything.

BACKGROUND

Please describe your company and your position there.

I am founder and CEO of Zwerit GmbH, a software testing services company. We're a small company of less than 20 people and we perform all software testing activities from planning to execution for FinTech companies.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Out2Bound?

As our services are specialized we need to actively get in contact with potential new clients in our specific domain. Out2Bound designed a custom process for this and introduced and trained our staff in workshops. They stay available for support and questions, whenever we have such. Also they provided a set of KPI's to monitor the process, so that we can learn and evolve it over time.

What were your goals for this project?

We wanted to have a process established, people trained in how to use it, a playbook, that documents the process and some KPIs to monitor the process effectively. As a small company also it matters, that there is not much of an overhead for us and that we can straight forward start generating leads.

SOLUTION

How did you select Out2Bound?

We had personal recommendation from friends in the area as well as we compared against a second company, delivering similar services. Out2Bound offered more flexibility, more customization and also more of a long-term perspective for future collaborations, in case we grow to a point, when we want to externalize this process.

Describe the project in detail.

In two extensive interviews they evaluated our specific needs, then prepared a first custom workshop and created some custom materials for it, to introduce and discuss their suggested process to establish. Then we had one week time to try the process ourselves, write down questions, bring up suggestion and in general collect first experiences with the intended process.

In a second workshop questions got answered, some parts of the process got refined and the playbook got introduced. Also we received as well a video of the whole workshop with the specific action steps, so at any time we can check again, if we don't remember it by heart.

They are still available for questions and are in general always helpful, when we have some uncertainties or needs while executing this process.

What was the team composition?

From our side, we involved Management, Testing Experts and the person, who will mainly execute the process afterwards. From their side, there is a lead consultant as well as the head of business development.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

Very fast after the process got introduced we saw some results. Much of our hesitation in contacting potential clients was relieved and we got some good figures that let us point by point improve the process and making it more effective.

Meanwhile we have regular meetings with potential new clients as well as regular meetings to discuss and further improve the process itself and/or to coordinate and start a campaign ourselves.

How effective was the workflow between your team and theirs?

Very effective. They were always open for our questions and could explain all the points in a way, that we easily understand.

What did you find most impressive about this company?

They have a very professional approach and a deep understanding of the topic, while at the same time being humble and kept it rooted.

Are there any areas for improvement?

From our point of view, it was and is a great experience with them.

BACKGROUND

Please describe your company and your position there.

My name is Krasi Yuriev and I am a CEO and co-founder of iRoboInvest. iRoboInvest provides Robo-Advisory as-a-Service solution to banks and financial institutions. Ultimately, we help them turn depositors into investors by implementing the robo-advisory solution directly to their banking apps.

Our digital wealth management modular platform enables superior customer experience. Banks, asset managers, and family offices can transform their online wealth management offerings by using our best-of-breed technology. The software enables the whole process to be digitized from advisory through investing and reporting. The customer gets an end-to-end customized solution.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Out2Bound?

Having a great technology without the tools needed to sell it properly. We didn’t have а sales strategy, we didn’t know which market or type of clients to target first. Most importantly, we didn’t know how to start and organize the sales process properly.

What were your goals for this project?

To pick the right markets, the right client group, to set our sales strategy and enable us to have the most efficient sales process.

SOLUTION

How did you select Out2Bound?

We have seen Out2Bound grow since the very beginning. The proved to be among the top players in the country. They are easily approachable and collaborative as a team. They bring the sales expertise we need, so in this respect, they ticked all our boxes.

Describe the project in detail.

A good consultancy can only come after a detailed understanding of our business. That is exactly what we did with Out2Bound, we sat and told them everything we know about our business. As a result, they came with the proposition about the right markets and sales strategy that we should pursue. They showed us the tools needed and the best sales channels to use.

What was the team composition?

We worked with Boris Georgiev and Zdravko Zdravkov. They also involved some of their co-workers to help. Overall, we worked with 3–4 people from Out2Bound.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

We managed to reach 50% efficiency, meaning every two calls led to one meeting with a bank.

How effective was the workflow between your team and theirs?

Pretty smooth. It's a dynamic team, so we never had a long response time. In urgent cases, we could always phone call.

What did you find most impressive about this company?

They have a respective list of companies they work with. Out2Bound was able to introduce us to almost anyone in the industry. Their knowledge expertise is high so that we can lean on that.

Are there any areas for improvement?

Sure, we have both domestic and international sales targets. Out2Bound can boost their international presence to help companies like ours to have more international footprint.