From desk phones to conference lines, Versature offers SMEs in Canada an alternative to traditional telecom services. Versature is not only disrupting the industry with its cloud-based telephony but also its personalized approach to sales, service, and marketing. And the combination has proved a great success. Versature is growing at a rate of 20% year-on-year, and has been recognized by the Ottawa Chamber of Commerce as one of the top 10 fastest growing companies in Ottawa twice in the last five years.
But for Versature, growth isn’t just about winning new business; it’s also about unlocking more opportunities with existing customers, which requires a very different service mindset to the traditional model in the telecoms industry. “To keep our customers for the long haul, we need to deliver an experience that is high-touch, personal, and seamless,” said Jonathan Moody, President and COO at Versature. “With Salesforce, we can deliver on all these fronts.”
In an industry that traditionally sees high customer churn rates, Versature has experienced over 100% customer retention over the last four years.
Versature balances the traditional and digital worlds for its customers, providing basic desk phones as well as advanced telephony features, such as voicemail-to-email, mobile apps, and integration with other cloud-based platforms, including Salesforce. Founded in 2003, the award-winning company hosts around 58 million minutes of business conversations across its network every year.
With all its customer offerings delivered on a software-as-a-service (SaaS) basis, retention is a top priority for Moody. “Negative customer churn is our ultimate goal,” he said. “To sell more to our existing customers, we need to understand their individual challenges by developing one-to-one relationships.”
“We are really selective about the companies that we target. With Salesforce, we can identify which prospects are likely to be a good fit for a long-term relationship with us.”
It was this need to better understand its customers that led Versature to Salesforce. Since 2011, Moody has steadily expanded the company’s use of the platform, which now includes Sales Cloud, Service Cloud, Marketing Cloud, and Pardot as well as an abundance of solutions from the Salesforce App Exchange, which simplify key processes, such as customer billing and commission payments. “With Salesforce, we don’t just have a CRM system, we have an integrated business platform that supports every stage of the customer journey. And if we need to add functionality to meet new customer or business expectations, we can have it up and running in a week not a year,” said Moody. “If something isn’t integrated with Salesforce, we’re not interested.”
Versature takes a proactive approach to selling to SMEs across Canada. “We reach out to companies at key trigger points, for example if they move or open an office,” explains Anastasia Valentine, CMO. “We are really selective about the companies that we target. With Salesforce, we can identify which prospects are likely to be a good fit for a long-term relationship with us.”
Versature’s sales teams use Sales Cloud to track every interaction and every win, with their successes on display for everybody to celebrate. “We have a strong culture of transparency,” explained Valentine. “We have eight screens around the office displaying Salesforce dashboards for different teams, so everyone can see how they are performing, and the contribution they’re making to the overall business.”
With heavy emphasis on high ROI activities, the marketing team has aggressive targets that start at 600% ROI on marketing activities which they have consistently been able to achieve and exceed. Tracking the marketing investment and spend with proper attribution would have been impossible without using the combination of Pardot and Salesforce.
One of the newest teams at Versature is dedicated to driving greater customer success through richer relationship building. With Service Cloud, the Customer Success Team can not only track every interaction but also spot when renewals are due, potential references, or the need for additional technical support.
“The data captured in Salesforce enables the Customer Success Team to determine if a customer needs an extra dose of TLC,” explained Valentine. “The marketing team can also identify the right time to ask customers to participate in events or success stories by logging referenceability scores.”
With a small in-house team, maximizing marketing resources is a priority for Valentine and Moody. By tracking both sales and marketing activities on the same platform, Versature can correlate new business wins with recent campaigns. “We can see which channels deliver the best ROI in terms of cost per acquisition versus annual contract value, and focus our efforts in these areas,” explained Moody.
To make marketing campaigns and activities more intelligent and relevant, Versature uses Pardot to automatically segment customers and track their interest areas. “With Pardot, we can personalise marketing content and ensure we don’t bombard customers with irrelevant information,” said Valentine. “It enables us to prompt conversations about business challenges and outcomes instead of our products, which adds greater value to the relationship.”
Valentine has just added Marketing Cloud’s Ad Studio to her campaign toolbox, which will enable Versature to tap into external data sources to find perfect-fit prospects to target in the future.
Smarter advertising isn’t the only initiative on the horizon. Moody also has plans to blaze a trail with AI to improve lead qualification and conversion. “Connected data is essential for unlocking richer insights and greater success – without it, you can’t do all the fun stuff!” he said. “With Einstein, we’ll be able to not only identify perfect customers but also predict the probability of winning a deal, which will help us make better decisions.”
As Versature continues to grow, Salesforce will help Moody and Valentine continue to attract the right customers, and provide them with an experience that keeps them renewing, year after year. “With Salesforce, we can reach and retain the right customers to help our business grow, and ensure we provide them with our renowned one-to-one service,” said Moody.
“Salesforce helps me unlock new insights and opportunities that keep our business thriving.”
Jonathan Moody, President and COO, Versature