Datasite - Global Sales Team of the Year

Company: Datasite, Minneapolis, MN
Company Description: Datasite is a leading SaaS provider for the M&A industry, empowering dealmakers around the world with the tools they need to succeed across the entire deal lifecycle. For more information, visit www.datasite.com ​
Nomination Category: Sales Awards Team Categories
Nomination Sub Category: Global Sales Team of the Year

Nomination Title: Datasite Global Sales Team

Datasite® is a leading SaaS technology provider for the M&A industry, empowering dealmakers worldwide with the tools they need to succeed across the entire deal lifecycle.Dealmakers in more than 170 countries make their deals in Datasite, including 74 of the top 100 legal firms and all the top 20 global financial advisory firms. 

In 2018, following several divestitures,Datasitecompleted its evolution from a50-year oldfinancial print company to a leading M&A SaaS technology company. Under leadership of Todd Albright, Chief Revenue Officer and Global Head of Sales, a key component of Datasite’s transformation involved successfully building a world-class, global sales organization that has grown into 200 sellers worldwide.

In a highly competitive and dynamic industry, Datasite’s sales team is expert, collaborative, client-focused and committed to driving results. The team engages at the highest orders of decision-making, serving as a like-minded partner to our customers – CFOs, CEOs, lawyers, private equity partners and bankers.

Datasite’ssales team has been recognized for its outstanding achievements in the past, winning a Gold Stevie Award for Sales Team of the Year in 2020 and, most recently, placing #3 on Selling Power’s 2020 annual list “50 Best Companies to Sell For.”

Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the team's past performance (up to 250 words):

The sales team’s achievements are best reflected in Datasite’s year-over-year revenue growth. In 2019, Datasite grew revenue 27% compared to 2018, up 24% from the year prior. Both figures represent approximately double the growth rate of the company’s like-sized competitor.

Datasite’s impressive growth has continued throughout the pandemic, in particularly regarding new project (unit) acquisition. Recently, Datasite surpassed 1,000 new projects in a single month for the first time ever. This achievement, representing 21% year-over-year growth, made history not only for the company but also for the industry as Datasite became the first virtual data room provider to break the 1,000-project barrier. In Q2, Datasite gained +3.4 pts of market share against its competitors, building on +4.8pts of growth in Q1.

Datasite rewards sellers who overachieve on their performance with Accelerator Club - the company’s most exclusive accolade. In 2019, 44% of sellers qualified for this event, which is well-beyond industry standard. The annual three-day event offers sellers the opportunity to participate in top-level networking, business strategy, philanthropy and celebration with leadership and colleagues across the company.

As Datasite has grown, so has the sales organization. Since July 2019, 56 new sellers successfully completed the sales onboarding program and 17 sellers were promoted into higher-level roles – some of which included the chance to relocate cross-continent. Providing opportunities for advancement and recognition are a key focus under Todd’s leadership, contributing to a salesforceemployee retention rate of 92%, compared to the industry standard of 85%.

Outline the team's achievements since July 1 2019 that you wish to bring to the judges' attention (up to 250 words):

Adaptability and collaboration have been key to success for Datasite’s sales team. With a focus on improving seller efficiency, the sales organization implemented innovative new technology such as Salesforce Lightning and Einstein Analytics. Sellers quickly learned to optimize these tools to uncover insights on key accounts and maximize performance.

Amidst the pandemic, the sales team swiftly transitioned to a work-from-home environment without disrupting client engagement. Sellers creatively developed new ways to stay connected with clients – from unique events to social hours and workout classes, sellers virtually nurtured relationships and built pipeline while keeping empathy at the forefront of every conversation. Additionally, the team effectively pivoted its sales strategy to adapt to the marketplace by leveraging new use cases. The sales team participated in robust training to better understand these new use cases.

Atop all this, sellers shared best practices and tips for navigating this new territory with each other through sales communication channels and an internal virtual networking series. This team-centric approach has been critical to collaboration and continued success.

Sellers contribute to product development through sharing customer feedback and, in the past year, the sales team has played an integral role in both launching and bringing to market three new, game-changing products. Additionally, in March 2020 Datasite announced its rebrand – a capstone to the organization’sevolution from a 50-year old financial print company to a leading M&A SaaS technology company. The sales team has been a key part of this transformation through daily interactions with customers.

Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):

Appendix 1: Press Release announcing Datasite #3 Ranking in Selling Power's Annual "50 Best Companies to Sell For" List in 2020
Appendix 2: Mergermarket article, "Datasite Projects Growth Through COVID-19 Crisis with New Use Cases"
Appendix 3: Press Release announcing Merrill Corporatin's Sales Team Honored as 2020 Gold Stevie Winner (Note: This was published prior to the rebrand from Merrill Corporation to Datasite)