SOLJETS Closes 98.5% of Its Deals Using Data Unlocked by BT Partners and Domo
Industry
Aerospace
Service
Domo
In Business
Since 2015
Customer
Since 2020
SOLJETS
The demand for private jets is soaring, and one firm is uniquely positioned to meet that demand. SOLJETS is one of the world’s most respected — and fastest growing — jet brokerage firms. The company combines world-class customer service with broad market intelligence to help clients both buy and sell aircraft. In this highly fluid industry, market conditions and inventories are continually in flux. To keep business flying high, SOLJETS developed a proprietary database that provides real-time market intelligence. For the engine to power the database, SOLJETS chose Domo Business Intelligence and BT Partners.
"“Hiring BT Partners to implement Domo gave us access to a full crew of professionals — from dashboard designers and SQL engineers to data scientists. A firm our size could never secure that level of talent in house.”"
Using Technology to Fuel the Operation
“We believe in using technology to fuel our operations,” says Ryan Crawford, CTO for SOLJETS. “To that end, we built a proprietary SQL database that tracks all data points associated with turbine aircraft valuation. This technology forward approach allows us to evaluate any combination of variables that matter most to our clients, helping them make the best decision more quickly.”
While the database holds a treasure-trove of aircraft information, getting at that data was problematic. “We relied on spreadsheets to pull and present the data,” recalls Crawford. “It was stifling to use such a limited tool. I’d spend countless hours formatting spreadsheets and incorporating colors, fonts, and design elements to prepare the reports for client presentations.”
Accessible, Affordable BI
Crawford was familiar with business intelligence (BI) applications but knew through experience that most are expensive, difficult to use, and time-consuming to implement. “We don’t have an IT team, it’s just me,” he says. “I needed an accessible BI tool that would begin delivering value right away. That’s when I found Domo and BT Partners.”
Domo appealed to Crawford since it includes drag-and-drop ETL (Extract, Transform, and Load) tools that would allow him to pull data from multiple sources, transform it, and load it into Domo for analysis and reporting. “While I can do much of the ETL myself, I recognized that this wasn’t the best use of my time,” he says. “Domo recommended I work with BT Partners, a local, highly-experienced firm. So I reached out, explained our situation and immediately they got it. BT Partners understood the metrics and trend data we were trying to leverage and ran with it.”
First Class Service
“Working with BT Partners felt like a real collaboration,” says Crawford. “We’d strategize over weekly calls, and our consultant always listened and offered up good ideas.”
Crawford admits that the implementation was a bit of a moving target, expanding as the company recognized all that Domo is capable of. “BT Partners handled the engagement professionally,” he says. “We kept expanding the scope and making changes, but they rolled with it and were completely fair and transparent in their pricing.”
Sales Take Off
The pandemic converted record numbers of travelers to private flying, enticing a new generation of buyers into the market. “We saw many buyers in their 30s and 40s, which was less common before the pandemic,” says Crawford. “These individuals grew up with technology and the Internet. They want information quickly and they want metrics. Domo allows us to connect with these buyers, rapidly providing the data they want to see in the format they want to see it.”
SOLJETS leverages Domo throughout its sales process. “With Domo, I can put visuals in front of everyone on the call,” Crawford explains. “By demonstrating our grasp of the market, available inventory, transaction history, and trends, we rarely lose a sale. In fact, our success rate using Domo presentations is over 98%.” Presenting the facts, not the sales spin, led to a record 2021. “Sales were up over 60% in the third quarter,” says Crawford. “I’m not a salesperson. I’m a data guy. Domo allows us to present discriminating clients with the highly targeted data they need to make informed decisions. It wins their trust and leads to new sales and repeat customers.”
Landing Sellers’ Attention
Domo is equally effective on the brokerage side of the business. SOLJETS is able to accurately tell sellers what their aircraft is worth, maximizing their return and accelerating the sales cycle.
The SOLJETS team also leverages Domo to initiate conversations with potential sellers. Rapidly rising aircraft prices can mean a tidy profit on a depreciating asset. “For example, we might show current owners pricing trends along with the scarcity of inventory on the market to see if they’re interested in selling,” says Crawford. “We come armed with facts, not a pitch, and sellers respect that.”
Partner Makes Ideal Copilot
“BT Partners made the ideal partner in this initiative,” Crawford says. “Hiring BT Partners to implement Domo gave us access to a full crew of professionals — from dashboard designers and SQL engineers to data scientists. A firm our size could never secure that level of talent in house.”
He concludes, “They provided enthusiasm and expertise. Ours was a small project for them, but they didn’t treat it that way. Instead, they unlocked the value in our aircraft database and turned it into a core tool in our toolbox. I can see the inherent passion they have for what they do.”
