Flexport, Marketing Operations
Flexport, Marketing Operations
Flexport, Marketing Operations
Industry
Industry
Supply Chain Management, Freight Forwarding
Supply Chain Management, Freight Forwarding
Company type
Company type
VC-backed startup, Series D
VC-backed startup, Series D
Dates
Dates
June 2019 - September 2019
June 2019 - September 2019
Flexport offers freight forwarding platform helping businesses get visibility in their supply chain and optimize for most cost-effective shipping solutions.
I worked on:
Developing a process for sourcing, qualifying, and prioritizing EMG segment leads.
Cross-selling to enterprise prospects with ESG commitments.
Skills: Market Research, Process Design, Lead Qualification, Data Analysis
Tools: Salesforce, Bombora, SQL, DataFox, Crunchbase
Flexport offers first-of-its kind fully digitized freight forwarding platform helping businesses get visibility in their supply chain and optimize for most cost-effective shipping solutions.
I worked on:
Developing a process for sourcing, qualifying, and prioritizing EMG segment leads.
Cross-selling to enterprise prospects with ESG commitments.
Skills: Market Research, Operations Design, Lead Qualification, Data Analysis
Tools: Salesforce, Bombora, SQL, DataFox, Crunchbase
Flexport offers first-of-its kind fully digitized freight forwarding platform helping businesses get visibility in their supply chain and optimize for most cost-effective shipping solutions.
I worked on:
Developing a process for sourcing, qualifying, and prioritizing EMG segment leads.
Cross-selling to enterprise prospects with ESG commitments.
Skills: Market Research, Operations Design, Lead Qualification, Data Analysis
Tools: Salesforce, Bombora, SQL, DataFox, Crunchbase
In 2019, just two unicorn startup customers were bringing in nearly $50 mil in ARR for Flexport. These customers were acquired 1-2 years prior as early-stage emergent businesses. Because they quickly outpaced EMG segment, revenue attribution and subsequent stream of resources went to other segments. EMG segment was getting the least resources, or innovation.
In 2019, just two unicorn startup customers were bringing in nearly $50 mil in ARR for Flexport. These customers were acquired 1-2 years prior as early-stage emergent businesses. Because they quickly outpaced EMG segment, revenue attribution and subsequent stream of resources went to other segments. EMG segment was getting the least resources, or innovation.
Problem
Problem
Given (1) the revenue potential of the right EMG customers, (2) growing CAC (it's painful to change supply chain operations after businesses matures), and (3) historically high attach rates, investment in acquiring EMG customers with high-growth potential was worth looking into.
Hypothesis: investing in acquisition of startups with high-growth potential before they scale is a cost-effective acquisition strategy that could bring millions in ARR and substantial increase in average CLV.
Given (1) the revenue potential of the right EMG customers, (2) growing CAC (it's painful to change supply chain operations after businesses matures), and (3) historically high attach rates, investment in acquiring EMG customers with high-growth potential was worth looking into.
Hypothesis: investing in acquisition of startups with high-growth potential before they scale is a cost-effective acquisition strategy that could bring millions in ARR and substantial increase in average CLV.
Hypothesis
Hypothesis
Problem
In 2019, just two unicorn startup customers were bringing in nearly $50 mil in ARR for Flexport. These customers were acquired 1-2 years prior as early-stage emergent businesses. Because they quickly outpaced EMG segment, revenue attribution and subsequent stream of resources went to other segments. EMG segment was getting the least resources, or innovation.
Hypothesis
Given (1) the revenue potential of the right EMG customers, (2) growing CAC (it's painful to change supply chain operations after businesses matures), and (3) historically high attach rates, investment in acquiring EMG customers with high-growth potential was worth looking into.
Hypothesis: investing in acquisition of startups with high-growth potential before they scale is a cost-effective acquisition strategy that could bring millions in ARR and substantial increase in average CLV.
Process
Process
Approach
Right Problem: making sure that the problem is worth solving
Techniques that helped me make sure the project was worth pursuing included setting a hypothesis and testing the viability of my assumptions by interviewing different teams.
Gap Analysis: identifying the ideal solution, evaluating existing options, and strategizing how to close the gap
I extensively researched the best prospecting practices in VC as it was the closest field with expertise in identifying high-growth potential companies. All of the existing software providers could only partially accommodate some of the key qualification variables. Still, some had mutual integrations and custom filtering, allowing us to design a data solution that met our goal.
Break it down: deconstructing the process into smaller tractable sub-goals
In addition to setting goals for each step of the Prospecting and Qualification process, I also focused on how each could drive utility for different teams. Defining what information is most useful helped optimize the process at later stages.
Approach
Right Problem: making sure that the problem is a one worth solving
Techniques that helped me make sure that the project was worth pursuing include setting a hypothesis and testing the viability of my assumptions by interviewing different teams.
Gap Analysis: identifying the ideal solution, evaluating existing options, and strategizing how to close the gap
I extensively researched the best prospecting practices in VC as it was the closest field with area of expertise in identifying high-growth potential companies. None of the existing software providers could fully accomodate all the key qualification variables, but some had mutual integrations and custom filtering, allowing to design a data solution that met our goal.
Break it down: deconstructing the process into smaller tractable sub-goals
In addition to setting goals for each step of the Prospecting and Qualification process, I also focused on how each could drive utility for different teams. Defining what information is most useful helped optimize the process at later stages.
Approach
Right Problem: making sure that the problem is worth solving
Techniques that helped me make sure the project was worth pursuing included setting a hypothesis and testing the viability of my assumptions by interviewing different teams.
Gap Analysis: identifying the ideal solution, evaluating existing options, and strategizing how to close the gap
I extensively researched the best prospecting practices in VC as it was the closest field with expertise in identifying high-growth potential companies. All of the existing software providers could only partially accommodate some of the key qualification variables. Still, some had mutual integrations and custom filtering, allowing us to design a data solution that met our goal.
Break it down: deconstructing the process into smaller tractable sub-goals
In addition to setting goals for each step of the Prospecting and Qualification process, I also focused on how each could drive utility for different teams. Defining what information is most useful helped optimize the process at later stages.
Research & Process Design
Defining key objectives, utilities, and constraints
I began by paying attention to company priorities voiced at all hands and asking members of different teams about their pinpoints. Healthy contrarianism in questioning why things are the way they are has helped me uncover a value in drawing more resources to EMG. To make it actionable and relevant, I further scoped the idea and figured out how it could fit with company priorities.
Maximizing utility by fulfilling the needs of other teams
Learning about existing company processes via interviews helped uncover that qualification data could bring a lot of utility to multiple teams.
Leveraging things that already work
To avoid reinventing the wheel, I researched best practices for identifying high-growth startups by reading and talking to people in the Venture Capital industry.
Defining key objectives, utilities, and constraints
I began by paying attention to company priorities voiced at all hands and asking members of different teams about their pinpoints. Healthy contrarianism in questioning why things are the way they are has helped me uncover a value in drawing more resources to EMG. To make it actionable and relevant, I further scoped the idea and figured out how it could fit with company priorities.
Maximizing utility by fulfilling the needs of other teams
Learning about existing company processes via interviews helped uncover that qualification data could bring a lot of utility to multiple teams.
Leveraging things that already work
To avoid reinventing the wheel, I researched best practices for identifying high-growth startups by reading and talking to people in the Venture Capital industry.
Research & Process Design
Optimization & Automation
To make sure the process is taking up the least resources possible, I researched software to optimize data collection and automate lead scoring.
The criteria for the ideal solution were: (1) has company information, industry insights & competitor info and (2) allows to build lead lists with custom fields; (3) has seamless Salesforce integration; and (4) very ideally, has embedded lead scoring functionality.
I compared existing software solutions based on the above goals, considering their functionality, data reliability, ease of integration, and cost.
Optimization & Automation
To make sure the process is taking up the least resources possible, I researched software to optimize data collection and automate lead scoring.
The criteria for the ideal solution were: (1) has company information, industry insights & competitor info and (2) allows to build lead lists with custom fields; (3) has seamless Salesforce integration; and (4) very ideally, has embedded lead scoring functionality.
I compared existing software solutions based on the above goals, considering their functionality, data reliability, ease of integration, and cost.
MVP & Hand-off
The final MVP for the process was an SOP detailing the prospecting process, lead scoring criteria, and prioritization methodology. I presented it to the Marketing team and shared the relevant parts of the process with the Sales and Operations teams.
MVP & Hand-off
The final MVP for the process was an SOP detailing the prospecting process, lead scoring criteria, and prioritization methodology. I presented it to the Marketing team and shared the relevant parts of the process with the Sales and Operations teams.
Lessons
Thinking End-to-End: to successfully propose a process that stand chances of adoption at a large tech company, it's important to think through the totality of the change it would bring (e.g. accounting for many stakeholders and changes to their workflows, making sure that resource relocation is justified by anticipated revenue opportunity).
Play the Long game: projects with longer feedback loops are per se higher-risk, but with research-based and conversations-tested conviction that the opportunity strongly outweighs the costs - it's worth a try. Plus, there're creative ways to incorporate shorter-term utilities to justify ambitious long-term projects.
Personal insight: through my time at Flexport, I learned that I LOVE Operations work. I thrive thinking through, researching, and advocating for processes that enable people to work and collaborate more effectively (& save company resources $$$).
Thinking End-to-End: to successfully propose a process that stand chances of adoption at a large tech company, it's important to think through the totality of the change it would bring (e.g. accounting for many stakeholders and changes to their workflows, making sure that resource relocation is justified by anticipated revenue opportunity).
Play the Long game: projects with longer feedback loops are per se higher-risk, but with research-based and conversations-tested conviction that the opportunity strongly outweighs the costs - it's worth a try. Plus, there're creative ways to incorporate shorter-term utilities to justify ambitious long-term projects.
Personal insight: through my time at Flexport, I learned that I LOVE Operations work. I thrive thinking through, researching, and advocating for processes that enable people to work and collaborate more effectively (& save company resources $$$).
Gratitude
Reed Boehringer, Sr. Marketing Operations Manager: I'm grateful to my manager for the mentorship and for giving me space and encouragement to pursue this project.
Susy Schöneberg, Head of Flexport.org: I volunteered with Susy to help companies meet their ESG goals by partnering with Flexport's non-profit arm. She was the first non-profit leader I worked with. Our work inspired me to keep exploring how technology can accelerate non-profit causes. The following year, I joined a non-profit supporting entrepreneurs in slum communities of India, and last year, I co-founded and operated another non-profit project.
Karyn Scott, CMO: While we didn't work directly during my time at Flexport, Karyn's relentless work ethics and confident yet compassionate leadership made her one of the most prominent career role models for me. I was fortunate to continue learning and being inspired by her last year when she helped our non-profit project with PR and Marketing Strategy.
Reed Boehringer, Sr. Marketing Operations Manager: I'm grateful to my manager for the mentorship and for giving me space and encouragement to pursue this project.
Susy Schöneberg, Head of Flexport.org: I volunteered with Susy to help companies meet their ESG goals by partnering with Flexport's non-profit arm. She was the first non-profit leader I worked with. Our work inspired me to keep exploring how technology can accelerate non-profit causes. The following year, I joined a non-profit supporting entrepreneurs in slum communities of India, and last year, I co-founded and operated another non-profit project.
Karyn Scott, CMO: While we didn't work directly during my time at Flexport, Karyn's relentless work ethics and confident yet compassionate leadership made her one of the most prominent career role models for me. I was fortunate to continue learning and being inspired by her last year when she helped our non-profit project with PR and Marketing Strategy.
Defining key objectives, utilities, and constraints
I began by paying attention to company priorities voiced at all hands and asking members of different teams about their pinpoints. Healthy contrarianism in questioning why things are the way they are has helped me uncover a value in drawing more resources to EMG. To make it actionable and relevant, I further scoped the idea and figured out how it could fit with company priorities.
Maximizing utility by fulfilling the needs of other teams
Learning about existing company processes via interviews helped uncover that qualification data could bring a lot of utility to multiple teams.
Leveraging things that already work
To avoid reinventing the wheel, I researched best practices for identifying high-growth startups by reading and talking to people in the Venture Capital industry.