Exclusive interview with Nilesh Patel, founder and CEO of Leadsquared
by Analytics Insight
April 4, 2022
For most organizations, the task of connecting multiple sales channels and teams becomes difficult, and automating the process may be the only solution to avoid such chaos. LeadSquared is a Bangalore-based SaaS (Software as a Service) company that provides end-to-end sales, marketing and other front-end automation solutions. Analytics Insight engaged in an exclusive interview with Nilesh Patel, Founder and CEO of Leadsquare.
1. Please inform us about the company, its specialization and the services offered by your company.
LeadSquared is a Bangalore-based SaaS (Software as a Service) company that provides end-to-end sales, marketing and other front-end automation solutions.
We solve sales challenges for high-volume, high-velocity businesses that typically have multiple channels and sales teams. These are usually B2C companies selling complex products/services on a large scale.
Our sales technology stack – sales automation, digital integration and marketing automation + process + field force, currently empowers 250,000 users worldwide.
2. With what mission and what objectives was the company created? In short, tell us about your journey since the creation of the company.
Initially, we started building a marketing automation and lead generation engine.
Working with multiple clients, we’ve seen companies use multiple tools to manage their sales and marketing operations. There was a lack of information and a delay in communication, which led to a loss of efficiency and a lower return on investment of sales efforts. Additionally, with data scattered across different platforms, it was difficult to extract meaningful and actionable insights.
Since these functions are fundamentally interdependent, it made sense to work on a centralized solution that could streamline sales and marketing, and that’s where the idea for LeadSquared was born.
Over the years, we have realized that our strategic competency lies in software that helps drive B2C sales at high speed. Today, LeadSquared is a leader in the high-speed sales and revenue process that drives the entire process from start to finish on web and mobile platforms.
Our goal is to create truly connected, empowered and empowered sales organizations with the power of automation.
3. Mention some of the awards, achievements, recognitions and customer feedback that you think are notable and valuable to the business.
We recently won the National Startup Award 2021 and were recognized by DPIIT, in the Enterprise Software category. We are a six-time Deloitte Fast 50 company. Last year, we were repeatedly recognized by G2 as a High Performer in the Enterprise category. We have been included in the prestigious Economic Times list of India’s Growth Champions.
However, if you ask me, our greatest achievement is the fact that we’ve redefined what industry selling standards look like. LeadSquared is focused on improving sales processes in a verticalized way that generates new efficiencies never seen before.
Our clients report a range of improvements in their sales processes, including increased sales, no lead leakage, improved close rates, and reduced time to close a sale.
4. What is your biggest USP that differentiates the company from its competitors?
Most sales CRM (customer relationship management) today is focused on traditional B2B sales solutions. B2B sales processes have fewer leads and a longer sales cycle. LeadSquared, however, is a category builder. We are focused on solving the challenges unique to high-speed B2C sales businesses.
LeadSquared was designed using a vertical-centric, use-case-driven approach, instead of keeping functionality at the center of the software. We deliver flexible, scalable, and innovative solutions (that adapt to customer processes, not the other way around) with sales empowerment at its core.
Above all, we offer a lower TCO (total cost of ownership) than most well-known players.
5. How does your company help customers achieve relevant business results through the adoption of business technology innovations?
LeadSquared’s end-to-end CRM (customer relationship management) offers a variety of solutions that improve sales effectiveness. LeadSquared can capture leads from all online, offline, and third-party lead sources, helping businesses reduce lead leakage to zero. Organizations can automate lead distribution and customer communication, resulting in faster turnaround.
Forms and Process Designers allow businesses to easily create and modify processes on the fly, high growth businesses love this as it gives them the flexibility they need to meet market needs. Our extensive tracking and reporting tools provide real-time visibility and actionable insights for better decision-making. Multi-channel customer conversation tools in one place increase sales productivity for sales reps.
6. What are your growth plans for the next 12 months?
Our goal is to soon reach the 3,000 customer mark. Currently, we are aggressively entering the US markets and laying the foundation for expansion into the Southeast and EMEA markets. We expect 150% revenue growth this year.
7. What is the advantage of your company over other players in the industry?
As mentioned in the fourth question, we build verticalized and industry-centric solutions.
Our extensive customization capabilities allow companies to create a workflow based on their specific needs, across all verticals and industries.
8. What industries are you currently focusing on? And what is your go-to-market strategy for the same?
We are currently focusing on the education, banking, credit, insurance, healthcare, technology, market and automotive sectors. Our market strategy is simple, be relevant by offering industry-first vertical solutions. We collaborate with industry leaders and work together to build our products. Currently, we are building an integrated performance management suite, working with over 30 business leaders for the same. Our go-to-market strategy is aligned with our business plan, which is to grow our existing business in North America, continue our expansion in India, and expand into the Southeast and EMEA region.
9. What is your leadership mantra?
I have a penchant for execution, I believe in hiring good people who take ownership and get things done.