EP 523: xIQ Using AI to Power Sales Teams with $1.1m Raised with CEO Usman Sheikh

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6 • 683 Ratings

🗓️ 29 December 2016

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Usman Sheikh, CEO and founder of xIQ – an award-winning platform for personalized sales, marketing intelligence, and content marketing. He’s the former vice president of SAP AG and he’s pushing digital frontiers by delivering consumer grade experiences in B2B sales and the marketing space. xIQ is the winner of the prestigious 2016 Content Marketing Institute Award for best integration of mobile and content marketing.

Famous Five:

Favorite Book? – Zero to One
What CEO do you follow? – Bill McDermott

Favorite online tool? — Twitter and LinkedIn
Do you get 8 hours of sleep?— No
If you could let your 20-year old self, know one thing, what would it be? – Take risks as early as you can.

Time Stamped Show Notes:

01:49 – Nathan introduces Usman to the show
02:30 – xIQ is a next generation sales intelligence tool designed for B2B sales and marketing professionals
03:04 – Usman worked with the top leaders of the world in SAP
03:30 – xIQ extracts the most relevant content from the most reliable sources
04:00 – xIQ is a SaaS product
04:16 – xIQ was founded in 2014, and released in early 2016
04:44 – xIQ raised 2 rounds of seed round
05:08 – Total amount raised
05:37 – Team size is under 15 and is based in Silicon Valley
06:05 – xIQ has 10 corporate customers and thousands of individual customers
06:35 – Average pay of corporate customers
06:57 – Average MRR
07:24 – Usman discusses one of their clients, GenPact, and how they use xIQ
- 07:42 – First, xIQ is used as a marketing intelligence tool to track competitors
- 08:47 – All data is real-time
09:20 – xIQ uses Apache Solr technology to index and for natural language processing
09:50 – xIQ gets their corporate customers from organic traffic
10:32 – xIQ’s process is the reason why corporate customers end up buying from them
11:12 – List size
11:24 – xIQ has 1 inside sales person
12:29 – No cancellations/churn yet for xIQ
12:53 – CAC
14:10 – LTV to CAC ratio
15:10 – Connect with Usman through LinkedIn, email and website
16:50 – The Famous Five

3 Key Points:

Experience is a great teacher—continue to learn and hone your skill set.
Building a business takes time and there is always room for improvement.
Take risks as early on in life as you can.

Resources Mentioned:

Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens and follow-up with email sequences
LinkedIn – Usman’s LinkedIn account
[email protected] – Usman’s email address
xIQ.ai – Usman’s business website
Show Notes provided by Mallard Creatives

Transcript

Click on a timestamp to play from that location

0:00.0	This is the top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base.
0:09.0	You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have.
0:16.0	I'm now at $20,000 per talk.
0:18.0	Five and six million.
0:19.0	He is hell-bent on global domination. We just broke our 100,000 unit sold mark Five and six million. He is hell bent on global domination.
0:21.2	We just broke our 100,000 unit sole mark.
0:23.9	And I'm your host, Nathan Latka.
0:28.0	Okay, Top Tribe, this week's winner of the 100 bucks is none other than Derek Roddenbeck.
0:36.3	He is an artist and he's looking to increase his revenue.
0:40.8	If you want your chance to enter and to win 100 bucks each Monday on the show,
0:45.5	simply subscribe to the podcast on iTunes now and then text the word Nathan to 33444 to prove that you did it.
0:53.5	Again, text the word Nathan to 33444. Folks, many of you
0:58.7	reach out to me and you say, Nathan, so many guests on your show talk about the importance of
1:02.6	batching. But whenever I try and batch, you tell me this, you go, Nathan, they don't book back-to-back
1:07.0	times. So you, or they don't show up after they book. It's frustrating. The answer is, guys, you have to use smart tools. I use a tool called Acuity Scheduling at
1:15.0	Nathanlacka.com forward slash schedule. I'll tell you specifically how I use it later on in the
1:20.1	episode. This is episode 523. Nathan Latka here. And coming up tomorrow morning,
1:26.5	you're going to learn from Eric Ray with his company Podium. That went from nothing to a million dollars in monthly recurring revenue in under 12 months. They've raised $4 million with over 6,500 SMB customers and gross customer churned less than 1% per month. How did he do that in the small business space?
1:50.5	Good morning, guys. Nathan Latke here, and our guest this morning is Usman Sheikh. He's the CEO and founder of X-I-Q, an award-winning platform for personalized sales and marketing intelligence
1:56.2	and content marketing. He's the former vice president of SAPAG, and he's pushing the digital
2:02.5	frontier by delivering consumer grade experiences in this B-2B sales and marketing space.
2:08.8	X-I-Q is the winner of the prestigious 2016 Content Marketing Institute's award for best integration
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Nathan Latka, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Nathan Latka and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.