“The TAM that we're servicing is one of the largest vertical TAMs in the world with Phil, you know, 85% of the market left to conquer or to tackle, and those opportunities are really, really unique.”
quote is from the automated transcript, cleaned for reading:
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More from Jonathan Vassell
Insight
Vassell: Distributed field sales requires software plus embedded payments unit economics
“There are other businesses that, or other verticals that don't have the density and that also don't have the unit economics. To get the payback that you need on a distributed workforce, right? We do because of the software plus embedded payments model, right? …”
Jonathan VassellNov 3, 2023▶ 9:55The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
Insight
Vassil: Smaller sales territories drive higher growth than broad ones
“What we know is the territory size you give the rep will dictate your growth rate, right? And so while we could have given our first rep the entire city of Seattle, We knew that'd be counterproductive going back to the density, right? And so the key is to, and…”
Jonathan VassellNov 3, 2023▶ 14:50The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
AssertionNot checkable as stated
Vassil: Toast's marketing team drives the majority of its sales funnel
“A majority of our funnel is driven by our marketing team, you know, despite having folks on the ground.”
Jonathan VassellNov 3, 2023▶ 24:16The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
Insight
Vassell: Restaurants have higher rooftop density than any other vertical
“There is no other vertical that's, that has that many rooftops. In the U S or across the globe, right? So if you think about any city block, right in San Francisco or Miami or wherever it might be, you may have a pet store, you may have a drug store, right? Yo…”
Jonathan VassellNov 3, 2023▶ 5:45The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
Disclosure
Vassell: Toast inside sales reps have the exact same ARR quotas as field reps
“The quotas are no different, by the way, like that, that inside rep is still going to produce the requisite amount of ARR. As a field rep, they're just going to do it across a different geography.”
Jonathan VassellNov 3, 2023▶ 8:57The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
AssertionNot checkable as stated
Vassil: High market density directly increases Toast's win rates
“We know definitively, and we've got a ton of data to prove this. When we reach a certain density level within a market our win rates on our top of all actually begin to increase and our reps become more productive.”
Jonathan VassellNov 3, 2023▶ 15:50The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
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