Sales and Marketing Intelligence vendor Zoominfo expanded their prospecting selects with the launch of a new attributes feature spanning two hundred filter variables including sales and marketing technologies used, department sizes and structures, locations, founding date, Alexa website ranking, presence of a warehouse, international locations, and existence of a mobile application.
With Company Attributes, customers have a simpler, more efficient way to determine which accounts will offer the greatest ROI and to pinpoint key decision-makers and influencers. Using this new feature on top of our existing Growth Acceleration Platform gives marketing and sales professionals one unified source for actionable marketing insight. Our customers have been able to find information on decision-makers and influencers at key accounts through our powerful prospecting functionalities. Now, with the launch of Company Attributes, they can go deeper into each of their target accounts using additional insights, allowing them to predict and repeat business success.”
Hila Nir, Vice President of Marketing and Product at ZoomInfo.
The two hundred variable count is overstated by 40% due to splitting many variables into ranges. Thus, 75 variables consists of five employee counts across fifteen job functions. Nevertheless, the growth in high-value selects (e.g. Uses Marketo, Has Locations in Brazil) is impressive.
Similar bands are also applied for location counts, years since founding, Alexa rank, bank branch counts, bank assets, and credit union branches.
Amongst the other variables are 29 technology selects with a focus on marketing automation and e-commerce and 27 location flags spanning countries and regions. The full set of new attributes is available in their knowledgebase.
Zoominfo’s Growth Acceleration Platform has expanded to 175 million executives (active and inactive) and 13 million companies.
Forrester released a study titled “The 2016 Guide To Digital Predators, Transformers, and Dinosaurs” which argued that companies need to quickly transform themselves into digital businesses. The study broke businesses into three digital categories: Predator, Transformer, and Dinosaur and evaluated the percent of business that are either digital services or sold online.
Predators are already generating over 80% of their business digitally and will grow their business to 90% by 2020. For them, digital is a foundational element of their operations.
Likewise, transformers are quickly evolving into digital businesses while dinosaurs are plodding along. In 2014, only one in six dollars was generated digitally at transformers, but by 2020, two of every three dollars will be digitally mediated at transformed businesses.
At the dinosaurs, only one in three dollars will be digitally generated in 2020.
Forrester found that transformers are customer-centric in their business strategy and processes. Customer obsession is part of their corporate DNA:
While all companies profess to put customers first, it’s clear from the data that executives at digital Predators care more passionately about the customer across multiple dimensions: In every customer metric we measured, these executives rated the importance of the customer higher than peers in transformers and dinosaurs – in short, they are not just customer obsessed, they are really, really customer obsessed.
Nigel Fenwick, Forrester VP and Principal Analyst
Overall, Forrester found that 29% of current total sales are influenced by digital, but that 47% would be digitally influenced by 2020. Thus, any business that wishes to remain competitive must have a digital strategy which encompasses sales, marketing, credit decisioning, contracting, and all of the elements across your sales funnel.
My blog focuses on sales intelligence (with some discussion of marketing intelligence and DaaS), so I’m covering a subset of this transformation. But sales intelligence is a key element of the digital transformation of sales and marketing. Its goal is to make sales reps more efficient and effective at generating revenue through
Improved understanding of customers and prospects. Whether the company is employing ABM, ABSD, social selling, trigger selling, or other techniques, customer-centricity begins with an understanding of the customer at the contact, company, and industry level. Sales intelligence vendors go beyond firmographics and contact data to deliver business descriptions, SWOTs, biographies, social posts, industry research, financials, analyst reports, technology platforms, etc.
Current Awareness. Improved awareness of changes at customers and prospects helps to improve account planning, messaging, and forecasting. Where once this intelligence was delivered as generic company news, the sales intelligence vendors have refined their tagging and now provide high precision sales triggers which are accurate at both the company and business topic level. Some have even begun to integrate sales triggers into their prospecting engines.
Reduced busywork + improved data quality. Sales intelligence vendors cut the time wasted on busywork through the implementation of DaaS enrichment of accounts, contacts, and leads. Enrichment provides more accurate firmographics, corporate linkage, and contact information which is then propagated to downstream systems. It also reduces the keying done by prospects on web forms and sales reps in CRMs. Furthermore, targeting, segmentation, and messaging are much more accurate when the ongoing maintenance of account intelligence is managed by a third party.
Over the past decade, sales intelligence firms have grown from standalone web information portals to integrated workflow services that deliver a broad set of account intelligence to CRMs, marketing automation platforms, sales acceleration (ABSD) services, Google Chrome, web forms, and mobile devices. Thus, sales intelligence is now becoming available to sales, marketing, and service departments across a broad set of platforms and devices.
If you would like to read more on my thoughts concerning the digital transformation of sales and marketing, I have also discussed the topic on Sparklane and Avention’s blogs.
Sales Intelligence vendor InsideView released a pair of enhanced connectors for Salesforce.com and MS Dynamics 365. The Microsoft connector is the next generation of their Dynamics partnership. The Salesforce Target connector provides company and contact prospecting within the AppExchange.
Insights version 4.0 is being released as part of MS Dynamics 365. Said InsideView, “Insights 4.0 is more deeply embedded in the sales workflow than ever, so sellers can quickly find data, insights, and connections wherever they are within their Microsoft Dynamics 365 environment and use that intelligence to close deals faster.”
InsideView lists the following new capabilities:
Global contact filtering to assist with contact discovery
A new Discovery Center for searching InsideView’s universe of global companies. Discovery Center supports company searching against companies not yet added as accounts. Users can view firmographic data, key contacts, and company news. Users can add companies as accounts or to a Watchlist.
Custom field mapping
Social feed suppression to enable/disable social media integration and social media stream customization
“Microsoft is the only major CRM provider to embed external customer data, millions of key contacts, and timely, actionable insights within CRM at no additional cost. That’s leadership,” said Heidi Tucker, VP of Global Alliances at InsideView. “Buyers expect salespeople to be relevant, understand their business issues, and come prepared with meaningful solutions. Microsoft Dynamics 365 subscribers get that advantage included with their CRM Online license. All they have to do is turn it on. And now, it’s even easier with Insights 4.0.”
Insights is bundled into the following MS Dynamics products: Dynamics CRM Online Professional and Enterprise, Dynamics 365 Plan 1 and Plan 2, Dynamics 365 for Sales, Dynamics 365 for Customer Service, Dynamics 365 for Field Service, and Dynamics 365 for Project Service Automation.
InsideView also announced immediate availability of InsideView Target for Salesforce which provides company and contact prospecting from within SFDC. Target provides dynamic list building using firmographic, biographic, and technographic variables. Screening variables include eighteen high-precision trigger events, news keywords, the presence of emails or phones, and technologies employed (2,200 categories across 525,000 companies). Trigger events (“InsideView Agents”) and news go out as far as thirty days and may be combined with keywords (e.g. Partnership triggers mentioning Apple).
Although the InsideView database contains global companies, screening variables are not internationalized beyond country and international region. Revenue sizing is in US dollars and there are no international industry codes, indexes, or sub-regions.
Other features include deduplication, custom field mapping, saved searches, and one-click pushing of records to Eloqua and Marketo.
InsideView provides a screenable dataset of 12 million global companies and 30 million “director-and-above decision-makers.” InsideView positions their smaller dataset as a valuable feature. “No noise, no mom-and-pop companies, and none of the clutter from lower-level contacts and tiny businesses.”
InsideView Target is sold on a pre-purchased credit basis. Both company and contact records are counted towards the contract allotment. If a record has been previously purchased during the contract period, the marketer is not charged a second time.
InsideView has invested heavily in CRM and MAP connectors over the past five years. They support a broad set of partner platforms with rich content and functionality.
Sales Intelligence vendor Avention, which has long had a sales presence in Asia, continues to expand its presence in the region via direct sales teams and channel partners. They also have significantly expanded their AsiaPac company and contact information sets.
Over the past year, Avention extended its coverage in India, China, Singapore, Japan and Hong Kong and added additional staff in their Singapore office. Avention has AsiaPac offices in Hong Kong, Singapore, Delhi, Sydney, and Melbourne along with affiliates in China, Japan, and Korea.
Along with Asian companies and contacts, Avention provides global family trees, industry market research, company news and sales triggers, and public company coverage of listed firms in AsiaPac and the rest of the world.
Avention designated Nikkei Media Marketing as their sole channel distributor in the Japanese market acting as the “exclusive and general agent” for all Avention products in Japan. Avention recently launched a Japanese language version of their OneSource Global Business Browser service. Over the past year, Avention has trebled their Japanese company coverage and quadrupled their Japanese contact coverage.
“This agreement is a terrific step for Avention OneSource Solutions as we focus our growth plans in Asia-Pacific,” said SVP of International Paul Charmatz. “Combined with the launch of our Japanese product, Nikkei’s Media Marketing’s unrivalled network and reach will take our Japanese presence to the next level. OneSource now covers well over 50 million companies globally, giving our customers in Japan access to unrivalled business insights. As a result of this agreement, our customers will be able to make smarter, more informed, data-driven decisions.”
In India, Avention has taken a direct sales approach. Avention first opened a Gurgaon, Delhi sales office in 2006. It has since quadrupled its sales presence in India with offices in Mumbai, Bangalore, and Chennai. Avention has added five staff to its India operations including Nittin Maheshwari, who joined as Director of India & MEA in April.
“India is a big focus for us at Avention OneSource Solutions, as the country is pegged to become the driver of growth across global markets for decades to come,” said Paul Charmatz, SVP of International. “We are fully committed to helping our customers here achieve their business goals as the country’s importance as an economic hub grows. Our Indian business continues to go from strength to strength as increasing numbers of companies reap the benefits of our increased data coverage and cutting edge product offering.”
Avention’s Indian coverage now spans the full universe of Indian registered companies.
Avention has chosen to fully enter the Chinese market with a Chinese language version of their sales intelligence and business research product. They also increased coverage of China and the Asia-Pacific region. Expanded Chinese and global coverage presented through a Chinese UI has resulted in the firm signing “a significant number of new customers each month.”
Coverage of Chinese companies, which was slightly above 300,000 firms for nearly a decade, has been increased nearly ten-fold to 2.7 million domestic companies with plans to grow coverage to over 3 ½ million profiles by the end of the year. This coverage growth is part of an expansion of the Avention global company database from 25 million to 70 million companies this year.
Chinese customers can now “access the platform in their local language, making it far easier for them to identify international prospects and be armed with the insight to build relationships,” said Regional Director Lon Shing. “Offering our platform in Chinese is just one sign of our commitment to the region and the businesses there – as well as testament to the massive growth opportunities we see, both for our customers and for Avention”
Note: I was the Product Manager for OneSource Global Business Browser: Asia in 2001-2002 when the service was first launched.
A few weeks ago, Salesforce announced its new Artificial Intelligence (AI) functionality called Einstein. The new features promise to provide improved decision making based upon predictive scores and recommendations to sales, marketing, service, and other functions. Likewise, Microsoft announced yesterday that they have formed a dedicated AI group working on infusing Microsoft products with intelligent capabilities.
However, as AI and Predictive Analytics become key technologies for companies, it is important to remember the old GIGO maxim:
Garbage In, Garbage Out
These tools simply won’t work well if your information is inaccurate, out of date, or incomplete. Best case, bad data results in weak predictions that aren’t trusted. Worst case, they provide a false confidence that wastes resources and misdirects corporate activities.
John Bruno, an analyst at Forrester, described this problem well in a recent blog:
The future analytics-driven sales processes is bright, but the path ahead is not without its challenges. Current and potential Salesforce customers should be mindful that intelligent recommendations require a large volume of quality data. If poor data goes in, poor recommendations will come out. Cleansing data and iterating the fine-tuning of recommendations will be vital to long-term success. Another major hurdle is adoption. Many sellers still lack trust in “intelligent” recommendations. You will need to handhold these sellers until they form trust. This means starting with small recommendations and scaling from there.
The good news is that many of the sales intelligence companies are now offering data hygiene services for lead, contact, and account records. The processing can be performed via CRM or MAP connectors or by uploading files to their cloud services. The vendors match sales and marketing files against their reference datasets and then augment the files with firmographics, biographics, technographics, etc. Matching can be done both in real-time to support both list uploads and web forms and via batch processing to support on going maintenance of corporate data.
While no company and contact database is 100% accurate, they are far more accurate than most marketing automation platforms and CRMs. Furthermore, they have better field fill rates, standardized values (important for segmentation and analytics), and more rapid update cycles.
The predictive analytics companies are also beginning to provide enrichment services.
ABM vendor DemandBase announced a new dataset it calls the DemandGraph which combines its WhoToo dataset of crawled business information with Spiderbook relationship data. The expanded content set employs semantic mining and machine learning to assemble the “entire business network of a company” which helps “identify which companies and buying committees are in-market for particular solutions.” The DemandGraph helps users target in-market accounts, identify key buyers, uncover meaningful insights, and deliver personalized content. While they have not announced specific predictive tools or capabilities, they are hinting at such tools.
This expanded information set of customers, partners, suppliers, competitors, and investments is built from:
Unstructured business knowledge such as SEC filings and annual reports
Demandbase’s proprietary identification technology that maps billions of network IP addresses to businesses worldwide
Complex corporate hierarchies extending beyond subsidiaries and remote offices to include vendor, customer and partner relationships
The digital footprint of web activity by businesses including ad impressions and web traffic from more than 3 billion B2B interactions every month
“DemandGraph isn’t exactly a product but rather a resource that Demandbase will use to power other products,” said analyst David Raab of Raab Associates. “It lets Demandbase more easily build detailed profiles of people and companies, including history, interests, and relationships. It can then use the information to predict future purchases and guide marketing and sales messages. There’s also a liberal sprinkling of artificial intelligence throughout DemandGraph, used mostly in Spiderbook’s processing of unstructured Web data but also in some of the predictive functions. If I’m sounding vague here it’s because, frankly, so was Demandbase. But it’s still clear that DemandGraph represents a major improvement in the power and scope of data available to business marketers.”
The DemandGraph captures what I’ve long called the “company ecosystem” that goes beyond lists of competitors to include partners, advisors, investors, customers, etc. An understanding of corporate relationships creates an opportunity to extend beyond traditional six degrees solutions when looking for introductions and relationships. A few companies have attempted to gather this data, but none have figured out how to market this broader relationship intelligence outside of industry niches such as technology (e.g. DiscoverOrg, RainKing, HG Data), advertising (e.g. TheList/WinMo), and PE/VC datasets (e.g. CB Insights, Mattermark, DataFox, Crunchbase).
Likewise, when LinkedIn describes their Economic Graph, they are focused on people and their relationships to other people and organizations, not the relationships between organizations.
Demandbase claims that company relationships captured within their business graphs offer twenty times the predictive power of social network relationships. Demandbase SVP of Technology Aman Naimat asserted that “DemandGraph has proven that it can be 7-8 times more accurate than an account executive trying to predict a potential customer, which provides better targeting and conversion.”
Chief Product Officer Alan Fletcher dubbed DemandGraph a “personal concierge” which supports personalization across all sales and marketing touchpoints. “That consistency in messaging throughout the whole sales funnel is what we’re trying to do, and you can only do that if you have the underlying data. It’s what the best account managers already do today, but it obviously doesn’t scale. Large companies can only do it for their top 200 targets.”
Fletcher suggested that this relationship ecosystem is also predictive of investments, acquisitions, and potential partnerships but that the company is “focused on predicting the next customer.” The DemandGraph provides insights into the culture of an organization. “Do they do businesses with startups? Do they only like to do business with established companies? Do they typically sell t0 people that are only involved with McKinsey?” asked Fletcher. “There are a bunch of signals that may not be directly related to you and your products.”
A few months ago, Salesforce.com purchased team productivity tool Quip. This month’s Dreamforce show was SFDC’s first opportunity to broadly promote Quip and their vision of productivity tools. Quip’s mission is to “change the way people work together,” according to Quip CEO Bret Taylor. Unfortunately, “the way that all of our teams work has completely shifted over the past decade, but the tools we use at work just haven’t kept up.”
The “path forward” is away from email attachments, meetings, and continuous monitoring of email inboxes. Taylor was the CTO at Facebook when it transformed from a browser platform to a mobile first platform. As this transformation took place, he realized that Facebook users were enjoying cutting edge apps running on a mobile phone while the state of the art inside the company was working with 8 ½ x 11 virtual documents and attaching them to email. When founding Quip, he threw out the “preconceived notions” around productivity software and asked “what would productivity software look like in a decade if you were to start from scratch” if you designed it around mobility and communication?
One of the problems with building such a tool was that productivity has been defined by Microsoft and its Office Suite and has been framed by this unitary vision for decades. They concluded that the goal of productivity tools was to “enhance communications.” Thus, typewriters let anyone set copy and photocopiers let anyone run a printing press. Likewise, the Office Suite digitized communication tools that already existed (e.g. typed documents to Word, overhead slides to PowerPoint, calculators to Excel). Email then made it easier to attach virtual documents and transmit them globally in milliseconds.
But with the smartphone, productivity has failed to keep up. Users have shifted to thumb typing emails on their phone instead of using productivity tools. “All of us have willingly given up thirty years of R&D in the word processor to thumb type emails for one simple reason: it’s more important that the recipient of what you’re writing can click reply than that you have footnotes or fonts. Communication is the most important feature of productivity and that’s why communication is the foundation of Quip.”
The goal of Quip was to avoid email entirely, otherwise they would simply be creating another attachment file type. “Quip combines communication and writing in a single integrated product experience so you can work and communicate with your team without going back to our email inbox.”
Quip allows multiple simultaneous editors on any device with a chat thread attached to each document,” said Taylor. “In Quip, that forty-email chain in making a decision is a shared document with a state of the decision right there for everyone to see. And all the conversation that went into that decision is attached to it.”
Quip is based on four key values:
Quip is built for teams with every feature “designed to move teamwork forward faster.”
Quip was designed mobile-first. While not all documents will be created on phones, they all will work on phones. “With Quip, you can truly run your company from your phone.”
Quip is deeply integrated with the Salesforce productivity cloud. A Lightning module allows Quip documents to be embedded within SFDC records so that “all of the spreadsheets, documents, and discussions about an opportunity are attached to the opportunity itself.” Salesforce fields can be pulled directly into documents and spreadsheets with automatic updating.
Quip is collaborative.
A customer survey found that Quip reduced daily meetings by 28%, cut time to project completion by 28%, lowered email communications by 32%, and raised team communication by 43%. The net was a 38% increase in team productivity.
Quip does not offer multiple tools, but instead provides a single app for mixing and matching checklists, spreadsheets, text, and images within a single canvas. An integrated checklist provides a meeting notes canvas with assigned tasks via @mentions. By tracking actions within the meeting notes, follow-up meetings are reduced.
Spreadsheets are embedded within documents such that “documents don’t need to be a separate file attachment that can live right in the context of the project you are working on. And the data in spreadsheets isn’t trapped within a spreadsheet. You can reference the data from spreadsheets inside of your document,” said Taylor. “And it means that you can have an executive summary that automatically updates when the finance folks update the spreadsheet. It’s a really connected platform.”
And because each document includes an integrated conversation, teams can work entirely within the document without returning to their email.
Quip is priced at $30 per month for a team of 5 and $10 per month for each additional person. The Enterprise edition is priced at $25 per user per month.
Quip customers include Facebook, Electronic Arts, Ultimate Software, Instagram, CNN, Snapchat, Airbnb, and Pinterest.