The Daily Briefing - March 31, 2020 - Productivity Rebounding in Major Markets

March 31, 2020

On today’s Daily Briefing, Chorus CEO Jim Benton was joined by Brendan Reeves, Director of Sales Strategy & Operations at Carta, to discuss meeting productivity numbers. This time, we broke the data out by markets to understand what impact COVID-19 is having as we’re approaching the end of Q1. *Productivity in Major Markets Rebounding, Even in COVID-19 Hot Spots* Yesterday we shared that overall meetings were flat week over week, which is good news. Last week, however, there were some rebounds. Most notably: New York. The good news is that while cities like New York, Chicago and the San Francisco Bay area are down versus our baseline for each market, they are showing great improvements when compared to last week. This is particularly amazing to see for New York. We also took a look at some other cities to get a fuller picture -- since we know that meetings are flat, we must be seeing some markets on the upswing, just as certain segments are performing well. Chorus has a handful of clients that are “Remote First, and we see right off of the bat that they are performing well. They didn’t have to make a transition to Work From Home, since this is what they do all the time. *Fully remote teams are up 20%* When it comes to the long term, Jim asked Brendon for his advice to GTMs and Sales Leaders. Brendan advised Sales Leaders to be patient. “Have compassion for GTM teams,” he explained, “They’re likely dealing with customers and prospects who are dealing with a lot themselves. Uncertainty in the market, layoffs, cutbacks etc. We moved very quickly from a higher spending environment to a contractional environment, so deals are going to be pushed back.” When asked how he’s seen this play out in the field, Brendan explained: “There’s one vendor we were looking at recently and we were in trial with them. They understood and anticipated that this would be pushed back. Instead of continuing to push, they eased off and just became really helpful, sending insights we weren’t aware of. That kind of proactive helping wins long term.”

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