In this episode of the GrowthTLDR, we talk to Rishi Mallik, the VP of Growth at Workato.
Workato is an integration and automation company, and Rishi's growth team's goals are to generate more revenue for the business.
We talk about the structure of the growth team at Workato and how they partner with marketing, product, and sales. We cover some of the most impactful wins from Rishi's growth team and how they've improved critical metrics like sales response times to inbound leads and triggering alerts based on companies' actions in their database.
[3:05] - Workato is an integration and automation company to help companies automate their workflows across the company. They're currently at 250 employees, with headquarters in the Bay in California.
[6:35] - The growth team at Workato partners with both the marketing and product teams at Workato, but is a separate function. They're responsible for demand gen (acquisition), inbound/outbound sales (SDRs), and responsibility for conversions across the website.
[9:50] - The marketing team is responsible for content marketing, events, PR, community, and partner with the growth team on demand gen metrics.
[11:25] - Rishi talks about how the growth team and marketing team split responsibilities at Workato. The growth team's processes are very centered around testing and iteration. Rishi gives examples of how this process spans into both inbound and outbound sales.
[15:45]- It's critical to break out all your channels into funnels. It helps you identify why a channel is or isn't working for your business.
[20:00] - When teams partner with each other, there needs to be mutual benefits to them working on the same goals. The way Rishi prioritizes the growth teams' work is via data. They look to the data to identify what are the best opportunities for the team to work on.
[23:00] - You can't only rely on the data, you'd never take risks, and eventually, your metrics would plateau.
[24:15] - We talk about some of Rishi's growth teams' biggest wins in 2020. They've focused on making more from the leads Workato generates by focusing on their response times (how long it takes them to respond to an inbound lead). Rishi also describes how they improved conversion rates by reducing the amount of data they requested a user to fill in when signing up for the product.
[31:15] - One of the challenges growing companies have today is the number of tools needed to run their business. Trying to get those tools to work together is hard.
[34:45] - For companies who want to build out a growth ops/rev ops team, the skills they need to hire are data, a culture around testing and iteration, and people who love both the strategy and execution of their work.