Predictive analytics company Radius recently released a new analytics dashboard called Performance. The dashboard utilizes data from Salesforce and the Radius Intelligence Cloud to provide multi-point goal analysis across the sales funnel along with segmentation tools.
Radius collects firmographic and signal data via open web crawling and filings from the Secretaries of State. The database spans eighteen million U.S. companies and fifty billion data points.
While Radius began as an SMB-focused sales intelligence service, they shifted to predictive analytics over the past two years. The firm has very strong VC backing after receiving $125 million in VC money, giving it a valuation between $500 million and $1 billion.
Performance synchs with Salesforce.com every thirty minutes to provide near real-time metrics on campaign performance and top segments. Along with the number of total leads and wins, the system evaluates the average number of touches and the average days to conversion. The additional details allow sales and marketing to better understand individual segments and the effort required to move prospects within each segment to the next stage.A running history is also available which can be filtered by period or segments.
Users can drill down on specific segments or filter the data to hone in on their best opportunities.
Each lead is bucketed into one of four categories:
- New: Net New leads in Radius
- Open: In the CRM but not yet won or lost
- Won: Goal Met (e.g. MQL to SQL conversion, account won)
- Lost: Goal Not Met
Win rates are defined as
Win Rate = Win / (Win + Lost)
and shown dynamically as users drill down or filter within the dashboard. When filtered, the system automatically recalculates all of the rates. Filters can be any of their business signals including location, size, social media presence, web technology deployed, and chains (e.g. multi-location businesses or franchises).
Once strong segments are identified, marketers can upload additional contacts or leads to Salesforce or download them to a CSV file.
Performance helps marketers identify top performing segments, evaluate the effort involved in converting opportunities, comparing sales cycles across markets, and measuring the ROI on net-new records and campaigns.
Radius also rolled out a second feature called Multiple Goals which allows users to define multiple objectives. For example, goals could be related to specific stages in the funnel or could be defined for different product lines or channels. Multiple Goals are then available for analysis within the Performance Dashboard and defined using Salesforce variables.
Multiple goals allow marketing to view success via “different lenses,” support both sales and marketing objectives, optimize campaigns around different segments and objectives, and identify opportunities for upsell or cross-sell.
“Radius is moving beyond analytics to give clients lists of potential customers,” said analyst David Raab. “In particular, its finding new market segments that clients might enter – something different from simply scoring leads that clients present to it or even from finding individual prospects that look like current customers. This isn’t a new service for Radius but it’s one that only some of the other predictive modeling vendors provide.”
A few months ago, Radius began offering a free CMO Insights Report to companies willing to open up their Salesforce instance to them for analysis.
“CMOs are in need of an easy-to-use tool to gain visibility into their best customers based on historical success. They need to know their total addressable market size, the attributes defining these segments and recommendations on new segments. This instantly available report provides all this information to CMOs within a day of connecting their Salesforce instance to Radius,” said Arup Banerjee, SVP of Product at Radius.
“Companies willing to share their Salesforce CRM data can get a report assessing the quality of their CRM records, listing the top five data elements that identify high-value prospects, and suggesting five market segments they might pursue,” said Raab. “This is based on combining the CRM data with Radius’ own massive database of information about businesses. It takes zero effort on the marketer’s part and the answer comes back in 24 hours. Needless to say, it’s a great way for Radius to show off its highly automated model building and the extent of its data.”
In the past, I have been a bit sour on Radius, but they have released a pair of analytics tools that should help them get noticed by marketing departments. I still think they oversell their predictive capabilities as they do not offer lead scoring and their set of business signals is fairly thin, but they are establishing themselves as an easy to use marketing analytics platform.