Imagine achieving phenomenal sales growth with no salespeople.
Well, Dropbox, the file storage company, founded in 2007, grew its revenues to $116 million by 2012. Its sales then rocketed to $1.46 billion by 2018.
What’s even more impressive is that for most of its short life as a company, Dropbox achieved this remarkable growth with no salespeople.
Dropbox has historically relied on viral growth, together with a referral marketing model, with more than 90% of its revenue generated from self-serve channels. See here and here for discussions of Dropbox’s business model.
It’s easy to understand the appeal of no salespeople. No headaches or expense dealing with hiring, training, managing, and paying sales reps.
So, did Dropbox discover a better (and more profitable) mousetrap?Read More