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What is Nektar?

Nektar at its core is a data capture platform, that captures & creates contacts, and activities from inboxes, calendars, zoom, etc, and provides actionable insights. Say goodbye to manual data entry and siloed data. Nektar seamlessly integrates with your mailing system and salesforce, to ensure complete and accurate data. This unified data across GTM teams ensures you get the right signals on pipeline health.

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Key Business Pain Points Nektar is addressing

1. Data Silos: GTM teams (Marketing, Sales, Customer Success) all have touch points(activities) within an account but all these are stored within individual tools resulting in missed revenue opportunities due lack of knowledge transfer about the account.
2. Manual Data Entry: Reps have to fill in CRM with all activities and contacts to transfer the knowledge, and this is always on low priority. Majority of times, Reps update everything under 1 contact which results in lack of understanding of buying committee
3. Lack of Visibility: The deal reviews are done solely on rep's word. Coaches don't have access to the amount & type of activities done by the rep. This results in 2 things Bloated Pipeline & Non-scalable playbooks​

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​Key capabilities of Nektar:

1. Unified CRM Data: Trust your CRM data for the first time with access to clean and complete CRM data. Plug all historical and ongoing data gaps in accounts, contacts, opportunities, leads, events, and tasks.
2. Salesforce Contact Data Management: Nektar automatically creates, updates, and maintains your Salesforce contacts, ensuring accuracy and completeness. Its self-healing AI learns from user and tool updates, maintaining pristine CRM records.
3. Automated Buying Committees: Nektar automates contact capture and links them to the right accounts and opportunities in Salesforce. It enhances contacts with job titles and buying roles, providing insights into buying and renewal committees.
4. Buyer-Seller Activity Data: Capture the depth and breadth of buyer-seller engagement. Ensure reps are doing enough to win deals with unified activity data across the deal lifecycle within your CRM.
5. Track Buyers’ Job Changes: Know when contacts in your Salesforce moved companies. Monitor job changes to help go-to-market teams turn existing relationships into new business opportunities.

The best part? It requires Zero User Adoption.

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ICP:

Market Sizing

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How did we arrive at this:

TAM:

Nektar is API based product which integrates only with Salesforce. So, technically all the Salesforce users becomes addressable market for Nektar. Why all? We are a early stage company which is figuring out different use-cases for different industries, company types and salesforce products. According to this report, there are more than 150,000 enterprise customers of salesforce. I used an internal tool called "Amplemarket" to get the exact number of companies. So the total addressable market can be calculated as follows:

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Total # of salesforce customer = 229,000 accounts

TAM $ value = Total # of salesforce customer * Nektar ACV ($25000) = $5.7 Bn

SAM:

After our initial experiments, we have realised that the most suitable market for us is "North America". There are 2 factors to it, first 60% of the salesforce customers are headquartered in US and second companies in US has higher propensity to pay such high deal values. Second thing that we have realised is, our time to value is fastest where sales team size is more than 20 people. That's how we have arrived at the SAM:

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Total # of ICP Salesforce customers ( Geo: NA & Sales Team > 20) = 17,000 accounts

SAM $ Value = Total # of ICP Salesforce customers * Nektar ACV ($25000) = $0.4Bn

Again all of this data is actual numbers that we got from "Amplemarket"

SOM:

In my understanding, SOM would always be market captured under certain time limit. Looking at our one of our direct competitors who have acquired just 2% market share in last 5 years, it is safe to assume we can acquire 5% in next 10 years.

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So the SOM becomes: 850 accounts & $21 mn

Source of the data: Amplemarket - Tool for prospecting & Reachouts {Nektar internal tool}

Competitive Landscape:

Sales Tech is a massive opportunity as every business in the world has a B2B Sales team to sell the product, solution, or service it offers.

Salesforce alone has 200K+ customers; HubSpot just cross 100K customers, Microsoft Dynamics is another big player in the CRM market we could tap into as we grow.

The sales tech space is heavily contested. Some of the prominent Unicorns as of 2021 are here.

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Direct competition( API based solution):

1. People.AI
2. Revenue grid
3. Collectivei
4. Einstein Activity capture
5. EBSTA activity capture
6. SetSail activity capture
7. Truly.io

Most common adjacent alternatives:

Native activity capture solution of Sales Engagement tools

1. Outreach activity capture
2. Salesloft Connect

Email Plugin solutions

1. Salesforce Inbox
2. Hubspot Activity capture

Potential distant alternatives

1. Syncari
2. Sonar
3. Zapier
4. Scratchpad
5. Dooly
6. Troops
7. Rattle
   

Products that offer activity capture solutions as a packaged offering:

1. Clari
2. Boostup
3. Gong
4. Chorus

Industry Reports:

• Unify data and align teams - Gartner
• Revenue Intelligence: Gartner Revenue Intelligence Landscape, Forrester Revenue Operations and Intelligence
• SBI Growth - Sales tech Landscape

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Acquisition Experiments:

Our ICP is at a status quo wrt data accuracy in Salesforce. We need to educate the market on the business impact of data inaccuracy, like bad opportunity health signals, missed opportunities due lack of multithreading etc.

The acquisition cycle is not going to be very simple like, a website visit → Demo booked → Customer, unless the prospect is already problem aware and solution aware like the ICP SACG.

And since our ICP spends most of the time on Communities & Linkedin, I think these two would be the perfect channels to experiment at this point, along with Partnership as the ecosystem is relied on partners.

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Experiment #1: Referral : Community Sponsored Events:

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Acquisition Cycle:
Community Sponsored Event → SDR Reachouts → Demo Booked → Sales Cycle → Customer

Which community event should we sponsor?

Modern Sales Pros​

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Why MSP?

• Members include a mix of both personas RevOps & Sales - Faster Experiments within both
• Our Core competitors - People.ai, SetSail.co, Rattle are sponsors of various MSP events
• Our Peer companies (companies targeting similar ICPs) - Everstage is sponsoring 1 event every month

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Audience Breakdown:

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Potential Topics:

1. Is your GTM data ready for AI?
2. What’s the $ impact of CRM <> Data status quo?
3. Maximizing Sales Productivity → Impact of Buyer Engagement Data
4. Driving revenue predictability to the T with buyer engagement data

What do we get?

1. Confirmed registrations from ICP = 125
2. 1. ICP = Director & above titles ; Companies > 1000 employees
3. High Discoverability
4. 1. Place at the MSP sponsors table, right next to core competitors like “People.ai, Rattle, etc”
   2. Promotion in MSP newsletters
   3. Shout out from MSP social

How can we make this a success:

1. Post-event cadence needs to be tailored with what we spoke about
2. Commitment from the SDR team on # of meetings booked
3. Post-event gifting campaign for super enterprise leads eg. Atrium

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​Cost:

$6000/event

CPL: $48

CPMQL: $150

CPDemo: $600

CPOpp: $1500 (Assuming 10% MQL→ Opp conversion rate)

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Experiment #2: Paid Ads - LinkedIn

ROI Calculations:

LTV for Nektar = $25000(ACV) x 2(Min Contract Tenure) = $50000

Affordable CAC = $5000 (to get at least an ROI of 10)

Which ICP: ENT - RevOps & ENT - Sales

Why: With recent customer acquisitions we realised our PMF is strongest in enterprise companies and they have a high propensity to pay.

Approach:

Educate ICP with TOFU ads (Video) → Share thought leadership lead magnets (Ebook) → Conversational Ads to generate new meetings →SDR Reachouts to engaged accounts → Demo → Customer

Audience:

1. Upload list of strategic/named accounts on LI - Build a company-match audience
2. Narrow down the audience with the following attributes:

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Campaigns:

Ad Copies:

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Experiment #3: Partnerships

Who can be partners for Nektar:

1. Salesforce implementation agencies/partners:
2. 1. Listed SFDC partners
3. Individual Salesforce consultants
4. 1. Veterans who have spent their careers implementing or working on salesforce

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How do we acquire these partners:

1. Salesforce implementation agencies/partners
2. 1. List of these partners is available on salesforce exchange: Here.
   2. Cold reach-out to them via emails
   3. Salesforce specific events (World Tour, Connect, Dreamforce etc)
3. Individual Salesforce consultants
4. 1. Salesforce specific events (World Tour, Connect, Dreamforce etc)

Partnership Model:

There can be 2 models:

1. Pay per Meeting based model
2. 1. We pay a flat fee of $1000 per meeting booked with right persona in their client base
3. Revenue Share per new customer
4. 1. We pay a revenue share after Nektar is implemented
   2. Current ACV for Salesforce implementation starts at $5000 min for MM & ENT customers, so we will need to atleast work on 10% of Revenue share with them. (We will incur a CAC of $2500 which is still good for us)

How will we drive the volumes?

For Pay per meeting model → The milestone for them is signing one big customer to get revenue share, so they will keep introducing us new customers

For Revenue Share Model:

We can set different monitory milestones:

1. After first 5 enterprise customers, increase the Revenue share to 12% per new customer
2. After 10 enterprise customers, increase the revenue share to 15% per new customer

Obviously, we will need to think through the % numbers, based on Ebitda

How will we make them succeed:

1. Regular Training on TalkTracks for different personas & objectives
2. Provide them with sales enablement assets
3. Share common objections and how to handle them
4. Sales Support from our side

Potential problems:

1. Partner attribution - We will use Nektar for Nektar to solve this 😅
2. Customer Churn in short time - Partner can be made accountable for this by sharing only realised revenue on monthly basis or keeping small window to pay partners

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