SaaStr 214: New Relic CRO Erica Schultz on What It Takes To Successfully Scale Into Enterprise & How The Very Best Reps Build Relationships With Their Leads
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Erica Schultz is Chief Revenue Officer @ New Relic, the company that gives you the real time insights your software driven business needs to innovate faster. Prior to their IPO, New Relic raised over $214m in funding from some of the best in the business including Benchmark, Insight Venture Partners and Blackrock, to name a few. As for Erica, under her CRO role, she leads all go-to-market functions including Marketing, Sales, Operations, Customer Success, Services, and Support. Prior to New Relic, Erica served as Executive Vice President of Global Sales and Customer Success at LivePerson and before that, Erica had a 16-year tenure with Oracle Corporation, where she founded and led numerous teams within the sales organization, including pioneering the company’s cloud business, and leading teams for North American and Latin American markets.
In Today’s Episode We Discuss:
- How Erica made her way into the world of SaaS and came to be Chief Revenue Officer @ New Relic? What were some of her biggest takeaways from her incredible 16 year journey with Oracle?
- Why does Erica believe that enterprise is a “company sport”? Why does each department need to re-platform when making the move to enterprise? How can founders know when is the right time to make the move from SMB to enterprise? Where does Erica often see founders make mistakes with this scaling?
- How does the move to enterprise fundamentally impact the sales team? How does the structure of the sales team change with the move? How does the role of marketing change with the move to enterprise? How does this move impact the relationship between sales and marketing? How should compensation plans be altered with the move?
- With the scaling of departments and teams, what has Erica seen work really well when it comes to making cross-functional teams communicate really well? What are the inflection points where Erica often see communication or process begin to breakdown? How does Erica ensure the team are still in the trenches with the clients despite the scaling?
- From Erica’s experience, how do the very best sales reps build relationships with their prospects? Where do many go wrong? How much time does Erica believe reps should be given when it comes to translating relationships to dollars? What is the right way to think about payback period today?
Erica’s 60 Second SaaStr:
- What does Erica know now that he wishes he had known at the beginning?
- The optimal relationship between CRO and CEO?
- The hardest element of being CRO @ New Relic?
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