Spotlight on Startups: Elastic offers sales as a service
To that end, we’re pleased to present the Sprout Insights series Spotlight on Startups. We’ll find the most innovative, useful startup companies out there, get the inside track on what they’re doing, and tell you how you can leverage their products and services for your own business.
This week we’re pleased to cast the spotlight on Elastic — a “sales as a service” provider, based in Mountain View, CA.
What Is Elastic?
Like many startups, Elastic was born to meet a significant business need that was going unmet. Co-founder and CEO, Steli Efti, had originally launched a completely different venture, known as SwipeGood. This startup — providing a mechanism for people to donate a portion of their e-commerce transactions to charity — became so popular in a short period, that Efti was unable to scale up his sales team fast enough to meet the increased demand.
He thought about the concept of offering sales as a service to other startups in similar situations — to help them address this significant shortcoming — and Elastic was formed.
Elastic’s vision is pretty clear. The company wants to “eliminate startups that fail due to a lack of sales.” On behalf of its clients, Elastic “explores all potential sales models for your product and defines a predictable and scalable sales process.” The entire sales platform is managed virtually, over the cloud, using a combination of software tools and a highly skilled sales force.
The company appears to have hit pay dirt with its business model. It claims to have “called over 125,000 leads, closed over 300 deals, and generated millions in sales” since its inception, just over one year ago.
What Needs Does it Address?
Many of today’s startups are based on technical solutions for business problems. To that end, many startup founders are more likely to have a technical background than that of sales or marketing. Even though it’s easy enough to hire sales staff, how does a leadership team without sales experience train and motivate an effective sales team?
Startups, famous for being leaner than their corporate counterparts, may not have the scalability of these larger organizations, especially if their ideas really take off. Unfortunately, it’s not uncommon for businesses to fail as a result of becoming too successful, too fast. It’s for cases like these that Elastic was specifically designed.
Elastic even refers to its team members as “hackers and hustlers.” It prides itself on the fact that every member of its team “has either started a company in the past or has future founder ambition.” What business wouldn’t want a sales team like that working on its behalf?
How You Can Leverage Elastic
According to its website, Elastic cites the following features as its primary benefits to startup businesses:
Time: Elastic can find and execute targeted sales campaigns more quickly than most other businesses.
Data: Elastic uses detailed sales metrics to produce predictable, repeatable sales models for its clients.
Growth: Perhaps most importantly, Elastic can scale its sales campaigns to grow at whatever rate your company is comfortable with.
If you’re a startup company that’s been struggling to generate sufficient sales, or even if you have more sales than you know what to do with, Elastic may be able to help you manage your sales function more effectively. Contact Elastic through its website.
Know of any other startups that would make a good feature on Spotlight on Startups? Contact us, or let us know in the comments below.