Recording of the Everything Marketplaces Group Chat #124 (2/21) with Pete Hancock, who was previously the VP of Sales at Yelp. Pete initially joined Yelp as an early employee (#20) and helped lead & scale revenue from $1M to $750M+ as the VP of Sales. Pete is a top mind when it comes to sales for marketplaces and has worked with earlier stage marketplaces like Bounce, NuBrakes, and more.
1:08 Pete's background
2:43 Joining Yelp as an early employee & becoming the VP of Sales
4:50 Yelp's strategy for driving consumer & business adoption as a horizontal marketplace
8:24 Yelp's GTM strategy using a freemium model & then layering on sales
12:07 The adoption cycle with businesses on Yelp
15:19 How the Yelp segmented their "core" team from the revenue & ad sales team
18:43 The playbooks early stage marketplaces can use for sales
24:00 The most effective sales channels for early stage marketplaces
25:59 How to determine which channels to double down on
28:52 How marketplaces can measure quality for supply
30:40 Mistakes early stage marketplaces often make with trying to outsource sales
33:51 Group Q&A on how Yelp innovated with initially having community managers
Pete on Twitter: https://www.twitter.com/peteVII
Pete's website: https://www.petehancock.me
Connect with Pete in the Everything Marketplaces community.