Insight certainty 4/5 debate potential 2/5

Vassell: Restaurants have higher rooftop density than any other vertical

Jonathan Vassell · The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO · Nov 3, 2023 · at 5:45

Toast CRO Jonathan Vassell explains to Sam Blond why the restaurant industry is uniquely suited for field sales compared to other SMB verticals.

0:00 / 0:23exact quote · 23.4s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“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? You may have a salon, then you'll have four restaurants. So it's the, really the only vertical where the density is really compact.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

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 Vassell Nov 3, 2023 ▶ 9:55 The 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 Vassell Nov 3, 2023 ▶ 14:50 The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
Assertion Not 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 Vassell Nov 3, 2023 ▶ 24:16 The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
Assertion Not checkable as stated
Vassil: Toast still has 85% of the restaurant market left to capture
“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.”
Jonathan Vassell Nov 3, 2023 ▶ 2:56 The 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 Vassell Nov 3, 2023 ▶ 8:57 The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
Assertion Not 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 Vassell Nov 3, 2023 ▶ 15:50 The Proven Customer Acquisition Strategies Behind Toast's Record Breaking Growth with Toast's CRO
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 400 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.