RelPro – IBISWorld Partnership

Sales Intelligence vendor RelPro announced a partnership with well-regarded industry research vendor IBISWorld to deliver an integrated solution for commercial banks.  The joint offering, delivered via the RelPro platform, assists with meeting preparation, due diligence, and industry research.  Ten commercial banks have already deployed the integrated solution, including three of the top five.

RelPro serves business development and relationship management professionals in Financial Services (banking, insurance, wealth management, private equity) and Professional Services (legal, and advisory).  RelPro users are often industry generalists who serve SMBs across many industries.  IBISWorld provides broad industry research across sectors along with economic and environmental changes.

RelPro is a traditional sales intelligence service with company and executive content sourced from seventeen partners.  Data partners include ZoomInfo, Dun & Bradstreet, BoardEx, GuideStar, Crunchbase, and HG Insights.  RelPro users build prospecting lists, perform account planning, identify additional contacts at key accounts, and, with the IBISWorld partnership, research industries based upon each company’s industry codes.

IBISWorld industry intelligence is linked by industry codes to company profiles in RelPro.

“RelPro has always been a client-driven solution, focused on the needs of business development and relationship management professionals in financial services and professional services, so when our clients asked us to integrate with a new intelligence source we listened!” said RelPro CEO Martin Wise, “The value of industry insights has been so evident as our users have pivoted and navigated through the shifting economic landscape, preparing for meetings with prospects and clients.  We are thrilled to be partnering with IBISWorld and delivering our combined capabilities to mutual clients.”

RelPro said that the partnered solution is consistent with its mission “to deliver valuable insights and time-saving efficiencies to business development and relationship management professionals” across banking and professional services.

The partnership began a year ago when a top five commercial bank requested an integrated solution.  The firms polished the integration over the past year, with the announcement synced to the April launch of My IBISWorld for Banking.

My IBISWorld for Banking includes tailored industry tools, data, and analysis to support banking professionals throughout the entire credit process.  Expanded content includes enhanced financial ratios, localized statistics “to understand concentration and major market data,” role-based views, risk snapshots that highlight industry risks and trends, and targeted meeting prep questions.

“Recently, we’ve seen a shift towards banking professionals working more closely with other functions, creating cross-department synergies in this newly-remote world.  We’ve also seen a great need for hyper-local data so banks can better serve small businesses during these unprecedented times. My IBISWorld for Banking fosters this cross-departmental work and helps banks support their customers.”

Carmen McKinney, Chief Operations Officer and Head of Customer Success at IBISWorld

“Being a part of our clients’ workflows has been a continuous goal for us at IBISWorld,” said Jason Falkowitz, SVP, IBISWorld Industry Research Division.  “From the launch of our My IBISWorld for Banking platform and our robust API offering to our new partnership with RelPro, we are committed to offering world-class industry information in client-led formats. Combining IBISWorld’s industry intelligence with RelPro’s focus on targeting companies and decision-makers, mutual clients will be best positioned to win and retain commercial relationships.”

IBISWorld content is delivered within the RelPro solution, with single sign-on supported.  The partners initially focused on their set of joint customers with contracts written on separate paper.  There is no surcharge for the cross-product authorization and functionality.

RelPro company profile screen showing links to IBISWorld Research on primary NAICS / SIC Codes.

Last year, RelPro released a similar solution with Vertical IQ.  Both Vertical IQ and IBISWorld provide industry profiles and economic data, with Vertical IQs content written in plain English for cross-industry generalists, while IBISWorld offers a more formal format.

“RelPro now integrates with the two leading independent sources of industry research,” Wise told GZ Consulting.  “It is for clients to decide which of these two solutions best meets their needs, and RelPro can deliver an integrated and time-saving user experience to either / both sources. This new partnership announcement is consistent with RelPro’s mission to deliver valuable insights and time-saving efficiencies to business development and relationship management professionals in banking and other financial and professional services sectors.” RelPro revenues (bookings) grew 40% in 2020, and the company expects that growth in 2021 will be at least that much

TechTarget Acquires Xtelligent Healthcare Media

On its earnings call last week, TechTarget announced its latest acquisition, Xtelligent Healthcare Media, a Boston-based firm with a similar content model to TechTarget.  It has over 1.5 million healthcare-related visitors per quarter across ten websites.  Content focuses on healthcare-related software and technology decisions, aligning with TechTarget’s enterprise software focus but in an adjacent market. Xtelligent topics include telehealth, healthcare analytics, revenue cycle management, healthcare IT security, and electronic health records.

“The healthcare IT market is one of the most important vertical technology markets and a natural adjacency for TechTarget to expand into. This acquisition checks all of the boxes for us.  Xtelligent has an original content model with a permission-based audience of registered members and a large amount of first-party purchase intent data.”

CEO Michael Cotoia in TechTarget’s Q2 2021 Letter to Shareholders

Similar to BrightTALK, Xtelligent did not have a solution for disseminating its intent data, but TechTarget will create new purchase intent segments and feed them into Priority Engine, expanding Priority Engine’s potential user base.

Xtelligent CEO, Sean Brooks, is a former TechTarget VP who founded Xtelligent a decade ago.  Brooks will continue to run the business.  Cotoia noted that Brooks built Xtelligent with a similar opted-in, permission-based audience model.

“We are very excited to join TechTarget and extend our combined audiences and offerings into new markets,” said Brooks. “TechTarget’s experience and success with first-party data, combined with their deep understanding of the B2B Media & Data space, will help us continue to grow and offer customers new opportunities to reach and engage highly targeted healthcare technology decision-makers.”

“[Healthcare] is a vertical that we’ve been keeping our eye on for a couple of years and the adjacent vertical where healthcare intersects with IT and infrastructure, security, hardware, and software, just made all the sense in the world to us. We believe it’s going to open the door to new customers [and] opportunities….We believe that we have an untapped revenue opportunity with Priority Engine and bringing our purchase intent data onto the Xtelligent community.”

TechTarget is eyeing other adjacent verticals, including FinTech and Asset Management, where BrightTALK has some penetration.

TechTarget paid $25 million in cash for Xtelligent, which includes an additional $5 million earn-out.

Bombora in D&B Hoovers

Search Results include Bombora Intent Badges.

D&B Hoover’s customers can now view and build lists of in-market accounts using the Bombora intent file.  Users can set up SmartLists (dynamic lists) with a combination of account and intent data to identify in-market ICP accounts.  The list is then displayed on the sales rep’s desktop and daily email digest.

Target lists can be assembled from over 175 selects that span company, contact, intent, and technographics.  Bombora intent data is gathered from over 4,000 B2B media website and span 7,000 pre-defined topics.  70% of the websites are exclusive to Bombora.

Dun & Bradstreet provides a sophisticated approach to selecting intent topics that tie to business strategy.  Instead of simply choosing the obvious topics, the firms recommend that customers employ topic clusters, “a group of like-minded Intent topics [that are] representative of all facets of a product or service.”  Clusters would include

  • Brand/Products (core): Brands, products, key functions
  • Competitors/Partners: Brands and products of competitors and partners
  • Industry/Vertical: Strongly associated categories, use cases, and product/service capabilities
  • Pain Points/Challenges: Pain points, issues, expected outcomes
Multiple intent topics may be monitored in a SmartList.

Dun & Bradstreet has removed intent scores, which are often confusing.  By creating clusters, topics are either surging or not, with no interpretation required.  Instead, the number of clustered topics serves as the indicator of surge strength.

The firms recommend that content be adjusted based on the number of intent topics identified for a prospect.  Sales and Marketing should “serve higher-level or awareness-based content to those showing interest in one or two topics, and lower-funnel content to those showing interest on many topics.”  Furthermore, prospects with many surging topics are probably closer to making a purchase.

D&B Hoovers also added 4 million direct dial numbers to their database, bringing the product total to 6.2 million.  Direct dials contain a set of standard and mobile numbers, so users should hover over the direct dial number to determine the phone type.

“As more business contacts work from home, direct dials are essential to engage customers in real-time, from anywhere,” wrote Product Management VP Phil McWade.  “Access these numbers in the lists you’ve already created, when viewing a Contact Profile, or within Contacts Search & Build a List results.”

D&B Hoover’s coverage has grown to 209 million global companies and 235 million contacts

EXPLORE Sales Intelligence

EXPLORE.FR, which has historically been more of a niche data provider for the French market, now offers a full sales intelligence and DaaS offering covering the entire French market.  In March, EXPLORE took a minority stake in Societeinfo and published its set of registered Sirene data for ten million active businesses.

“With Societeinfo, we can offer a wide range of data enrichment scenarios, contextualized email generation, semantic targeting without equivalent on the market,” said Laurent Nicouleau, Associate Director of EXPLORE.  “These data can, of course, be integrated into the information systems of our customers, including those deployed by GESTINNOV, our subsidiary dedicated to CRM & ERP integration.”

EXPLORE describes itself as ”a designer of high value-added B to B behavioral data solutions” that “identify all the life stages of your prospects and customers and transforms them into a lever for commercial performance.”

EXPLORE French market intelligence includes company and executive profiles, financials, and triggers.  Features include prospecting, list mapping, news alerts, and mobile apps.

EXPLORE offers connectors for Salesforce, Microsoft Dynamics, Sage, Oracle, SugarCRM, Efficy, and SAP.

A new Microsoft Teams feature lets users look up and share company profiles within the Teams discussion stream.  Company profiles may be looked up via their Siret # (registration number), name, or address.  From the mini-profile, colleagues can link to the company website or view additional details in EXPLORE.  The service works as a freemium with non-EXPLORE users viewing a limited profile and EXPLORE users viewing a complete profile.

The Teams application is French only.

EXPLORE captures business signals from news, social media, the open web, and governmental sources.

EXPLORE triggers are gathered from regional and national news, social media, the open web (e.g., governmental sites, real estate developers, public purchasers), and public data resources (e.g., building permits, legal announcements).  Triggers fall into three categories:

  1. Strategic events such as M&A, Fundraising, IPO, Investment Projects, and Restructuring.  EXPLORE captures 3 million strategic events per annum.
  2. Relocation Projects and profiles spanning 15,000 annual events.
  3. Legal News such as company registration, dissolution, change in capital, divestitures, litigation, etc.  EXPLORE tracks 2.7 million legal events per annum.

EXPLORE targets commercial real estate, real estate developers, financial services, building supplies, and B2B services.  EXPLORE pricing begins in the €2,000 to 3,000 range.

EXPLORE has 160 employees, with offices in Paris and Nantes, and an annual turnover greater than €14 million.  EXPLORE has 1,500 clients and over 40,000 users.

In other news, EXPLORE acquired Belgian data vendor CODATA which collects information about retailers in France and Benelux.  The dataset covers 370,000 retail locations at 4,600 sites (e.g., city centers, shopping centers, outlets).  The new content augments EXPLORE’s coverage of commercial real estate.

“EXPLORE has been present for many years on the commercial property market; our offer is mainly “project” oriented (construction and renovation of buildings, urban development, CDAC-CNAC decisions, etc.),” said Nicouleau.  “We were very impressed by the high quality of the teams and the data produced by CODATA in the field.  Associated with EXPLORE, CODATA will have new operational resources to develop and strengthen their positions.”

Introhive Series C

Relationship Intelligence platform Introhive closed on a $100 million Series C.  The round was led by PSG, with Bank of America Securities joining.  Existing investors The Business Development Bank of Canada (BDC), Aegis Group Partners, Evergreen Coast Capital, and Mavan Capital Partners also participated.

Introhive will be deploying the funds for strategic acquisitions, expanding its global footprint, and growing its engineering, sales, and marketing teams.

“At the moment, our primary goal is to grow as fast as we can possibly grow,” said Global VP of Sales Adam Draper.  “And we don’t want pure organic growth to be the limiting factor.  So with this amount of money, it just gives us the option (to buy) companies that maybe did well in a certain vertical but couldn’t expand beyond that…or maybe had some sales hiccups, or whatever.”

Introhive, based in Fredericton (New Brunswick) and Miami, anticipates growing from 300 employees to 400 over the next year.

“For us, (the raise) is about continuing to evolve our platform, innovating on technology, staying ahead of our competitive product roadmap, and ensuring the success of our employees,” said Draper.

Introhive Funding History (Source: Owler)

The round follows a strong 2020 during which Introhive claims to have doubled its revenue to over $20 million.  It is projecting $100 million by the end of 2023, said Draper. 

During the pandemic, Introhive refined its sales processes and workflows.

“We really focused in 2020 on scaling what I call the operational, the core parts,” said Draper. “Anytime you’re scaling, especially in my world, from a sales perspective, it’s easy to put the sales bodies in place, but you have to have the infrastructure to support that.  And so we put a lot of time into process workflow, our tech stack, but also our strategy.”

“Our internal compass focuses on the 3 R’s – revenue, retention, and relationships – as the key ingredients to a successful and thriving business,” said Introhive CEO Jody Glidden. “Whether a company is trying to reduce customer or employee churn, make their revenue generating teams more effective or leverage the numerous untapped connections of ‘who knows who’ that exist in their company, Introhive is creating raving fans.”

“Businesses of all sizes are looking for better ways to leverage relationships and drive revenue, and we believe Introhive has built a unique and innovative set of capabilities that allows them to do this more effectively.  In our view, Jody and Stewart (Walchli, CRO) have built a world-class product and management team, and the business is well-positioned for its next phase of growth. We couldn’t be happier to join them on their journey.”

Rick Essex, Managing Director at PSG and New Introhive Board Member

Introhive looks to address the high failure rate of CRM projects by mapping relationship data and identifying opportunities.  Introhive claims to save its customers $68,400 per employee on lost productivity and automating manual work.

Introhive boosts CRM adoption through automated contact data enrichment and uploads.  It claims to uncover 350 additional contacts per user.  “The AI engine then maps these contacts to identify relationships across prospects and customer accounts.”  By reducing research and data maintenance overhead, sales and business professionals can focus their activities on prospects and clients, driving customer satisfaction and the bottom line.

Last year, Introhive processed more than one trillion transactions, captured 60+ million contacts and relationships, saved nine million employee hours, and supported users across 90 countries.

“Great salespeople are most valuable when they’re building relationships — and business — with customers,” commented Nicole France, Principal Analyst at Constellation Research.  “By intelligently capturing data insights, technologies like Introhive increase the quality and timeliness of the data and help salespeople prioritize their efforts where it matters most. Sellers can focus more of their time on the insights generated from relationship intelligence and putting it to use. As a result, sales and account teams understand the needs of their customers and prospects better than ever before, resulting in more upsells, shorter lead times, and more revenue.”

Introhive has benefited from using its application.  “I think using Introhive at Introhive has always been one of the reasons that we’ve grown so fast,” said Draper.  “I remember in the early days, when we couldn’t get leads, we used our software to tap into the networks of our highly connected investors and advisors to create introductions and get some of those first sales.”

Introhive has ten offices in the United States, Canada, United Kingdom, Middle East, and Asia.

Introhive did not disclose its market cap.

Introhive Relationship Mapping

ZoomInfo Business Contact Preference Registry

ZoomInfo launched its Business Contact Preference Registry (BCPR), a centralized registry for recording B2B opt-out requests which will be shared across the industry.  The BCPR is ZoomInfo’s latest step in burnishing its data privacy positioning.

“The collection of data is central to businesses in the B2B data industry, but the responsibility of ethical data stewardship falls onto the shoulders of each individual company,” wrote the firm.  “As industry leaders in data privacy, ZoomInfo has made it easier for businesses in the B2B data marketplace to address the preferences of consumers by building, maintaining, and sharing access to the BCPR.”

“It’s critical for data-focused companies to prioritize privacy. The Business Contact Preference Registry offers businesses a convenient way to prioritize privacy by supplying the entire B2B data industry with a ready-made list of consumer opt-outs. We’re proactively sharing our opt-outs as an invitation to B2B companies to join us in putting privacy first.”

Bubba Nunnery, ZoomInfo’s Senior Director of Privacy and Public Policy

I had been flagging data privacy as a weakness in ZoomInfo’s model, which could slow their entry to the European market post-COVID, but they have been actively working to shore up their data privacy practices and demonstrate that they are respectful of the data they hold. 

ZoomInfo developed a proactive data compliance program based upon “notice and choice” that notifies business professionals about ZoomInfo’s data.  The program is global in scope, so not limited to countries that require notifications.  ZoomInfo also expanded its data privacy team earlier this year, naming Hannah Zimmerman, ZoomInfo’s Privacy Counsel and Bubba Nunnery, Senior Director, Privacy and Public Policy.

ZoomInfo data privacy certifications

“Our business is founded on the trust our customers have in our data,” said General Counsel Anthony Stark back in March. “Collecting data is central to all businesses, and it’s our job to be ethical stewards of the data we hold.  ZoomInfo adheres to its core privacy tenets of transparency and control, showcasing that we are respectful of the rights of consumers while providing critical service to our customers.”

In May, ZoomInfo announced that it received GDPR and CCPA Practices Validation from TrustArc, saying that its policies “are in line with the strictest privacy regulations in the world.”

“Organizations of all sizes must become privacy-forward to earn the trust of their customers,” said Chris Babel, CEO, TrustArc. “ZoomInfo understands that building trust requires an ongoing, scalable approach to data privacy. The organization has consistently prioritized privacy as the enabler of a better experience for its customers and their subscribers, and the TrustArc GDPR and CCPA Validations reinforce that standing.”

“ZoomInfo is leading the way in data privacy.  We are working to accept opt-outs from other vendors as part of our efforts to elevate privacy standards across the B2B data industry.”

CEO Henry Schuck

The BCPR is an excellent idea, but I’m not sure whether the registry should be hosted by one of the major vendors in the space.  ZoomInfo plans on accepting opt outs from other vendors, but It is unclear whether other vendors would promote ZoomInfo in the lead data collection role. Preferably, it would be hosted by a government agency such as the FTC, which manages the US Do Not Call Registry, or a neutral body similar to the ICANN domain registry.  DataGrail, a leader in data privacy compliance, could administer an independent database across businesses and consumers.

LinkedIn State of Sales Report 2021 (Part II)

Continuing from yesterday’s discussion of LinkedIn’s State of Sales Report 2021

LinkedIn State of Sales 2021 Trends

Sales managers are looking to diversify their hiring across two dimensions: geographic and cultural.  With work from home proving itself over the past year, managers are now confident that they can hire the best talent, regardless of location.

Likewise, sales professionals believe that their firms have succeeded in their efforts in opening up sales teams by gender, race, etc.  35% of sales professionals believe their sales organizations have “exceeded goals around diversity hiring initiatives,” while another 45% say their sales organization has “met” their diversity hiring goal.

On the buying side, 83% of purchasers said that all things being equal, they would give a preference to more diverse teams.

LinkedIn argues that Sales Intelligence is a crucial tool for building trust in the absence of face-to-face meetings.  LinkedIn broadly uses the term to include Conversational Intelligence tools such as Gong and Chorus, which help understand the prospect’s state of mind, and sales intelligence solutions such as Sales Navigator.

“With in-person meetings limited, sales technology provides a key pathway to gaining insight and understanding into potential customers. It’s no surprise, then, that our survey indicates that both usage of and investment in sales technology are increasing,” stated LinkedIn.

73% of respondents employ a sales intelligence solution weekly, and 23% use one daily.  54% said SalesTech helps reps build stronger relationships, and an equal percent said it helps them close more deals.  The top three categories for closing deals were CRM (70%), sales intelligence (69%), and sales enablement (69%).

Both usage and investment in SalesTech will increase in 2021, with CRM (49%), Sales Intelligence (43%), and Sales Planning (42%) seeing increased usage.  On the investment side, the top categories are CRM (41%), sales intelligence (40%), and sales engagement (40%).  Nearly seven in ten sales professionals anticipate greater SalesTech investment this year.

Data continues to be seen as critical, with 47% of sales organizations using it for account targeting, 44% for industry targeting, 43% for performance assessment, 41% for geographic targeting, and 39% for defining the buying committee.

While LinkedIn did not delve further into buying committee discovery, this is a nascent development area with multiple approaches, including conversational intelligence (meetings, emails) and machine learning.

Understanding the demand unit is critical for sales teams.  85% of reps reported that at least one opportunity was lost or delayed due to the departure of a client stakeholder.

Sales Navigator usage continues to be robust, with a 400% increase in self-bought Sales Navigator licenses over the past two years, “a surge that indicates sales professionals are investing in their own growth and have a willingness to use sales tech even if not prescribed by their company.”

59% of the Forbes Global 500 companies and 64% of the Forbes fastest-growing companies have Sales Navigator users.

Finally, message quality trumps quantity.  Simply sending high volumes of email or sharing many content pieces does not move the revenue needle.  The key is quality outreach that generates engagement and message acceptance.  “This is a strong indication that salespersons ought to be mindful of the value to the customer before sharing content or sending an InMail.”

InMails should be “short, personalized, and conversational.”  Messages with fewer than 400 characters are the most effective, with a sharp drop-off in response rates for long-in-the-tooth messages.

LinkedIn surveyed 400 sales and 400 US and Canadian purchasing professionals in January 2021.  Separate surveys were conducted for other geographies but have yet to be published. [Original Report]

LinkedIn State of Sales Report 2021

In its recently published State of Sales 2021 survey,  LinkedIn stated that “Virtual selling is good for sellers and even better for buyers.”  50% of buyers say that “working remotely has made the purchasing process easier.”  Buyers have benefited from the greater acceptance of sales intelligence and sales enablement services.

Furthermore, 70% of buyers want to retain remote work at least half of the time.  48% of buyers do not expect to be meeting face-to-face until H2 201, and 17% anticipate waiting until 2022.

“The bottom line is this situation requiring virtual selling skills won’t be changing anytime soon,” commented LinkedIn.

59% of buyers do not anticipate attending live events until H2 2021.  While 90% of the surveyed buyers have previously attended events, 48% of sales reps have now closed deals above a half-million dollars without meeting the buyer in person.

“Sellers will go back to face-to-face meetings but not remotely close to pre-pandemic levels. Digital transformation was coming no matter what.  COVID-19 just accelerated everything. In other words, digital transformation is here to stay.”

Gartner VP-Analyst Craig Rosenberg

Sales Managers recognize the acceleration of change and digitization, with 86% agreeing that “the ability to cope with change is more important than it was five years ago,” up 16% over the past year.

“Generally speaking, sales is slow to adapt,” opined Gartner VP-Analyst Craig Rosenberg.  “If the way sellers are doing things works, then they will keep doing it.  This drastic event is driving change.  Also, when the buyer changes, sales is forced to change. We often think of ‘sales’ as having to move virtual as the driver, but actually our buyers moved virtual.  Ultimately, sales is going to gravitate to the buyer’s preference.  In other words, it is much easier to adapt to change when you have to.”

The top three sources of change cited by sales managers are measuring sales processes and outcomes in different ways (51%), adding new technologies (50%), and instituting new hiring policies (50%).

LinkedIn State of Sales Report 2021

Remote sales job postings increased five-fold in Q3 2020 year-over-year, with remote positions growing 8.8X in Canada and 4.5X in the United States.  The transition hasn’t been easy.  67% of sales managers said that managing remote teams is more challenging than expected, and 65% of sales reps found it more difficult than anticipated.

Sales Operations and Customer Success roles proliferated between 2018 and 2020.  LinkedIn captured a 38% increase in Sales Operations roles over this period, 4.8X the growth of sales titles.

Customer Success positions trebled between 2018 and 2020.


Continue to Part II, which discusses diversity effort in sales, SalesTech, and Sales Navigator.

Artesian Solutions Engagement Signals

Artesian Solutions released Engagement Signals, a set of bespoke rules for its Connect platform.  Engagement Signals deliver “a constant supply of highly relevant intelligence and insight on their clients to facilitate advanced prospecting, customer monitoring, efficient onboarding, ongoing assessment of portfolio risks, and automated underwriting.”

Artesian Connect applies customer “Know-How” to structured and unstructured data, identifying “highly targeted calls to action.”  Engagement Signals combine triggers with Next-Best-Actions related to accounts.

We make it a priority to listen to our users and evolve our platform to solve their highest value challenges and ability to deliver transformational results. Financial Service organisations are now in a position where they must urgently transform their digital business strategies. With Artesian Connect, modern frontline banking and insurance teams can rapidly merge disparate data sources, create bespoke rules for risk selection utilising rich firmographic data and, most importantly, deliver insight from unstructured data that paints a much deeper picture for next-generation client experiences. Engagement Signals represent a simple way for our users to leverage the power of the Connect Platform through a pre-built set of features and rules.

Rich Clark, Artesian VP of Product Development

Artesian also launched a new Briefing Page that provides a snapshot of a company’s health,  financials, and signals.  At the top of the Briefing Page are financials and ownership flags, followed by Engagement Signals.  A set of tabs below Engagement Signals lets finance and sales professionals review the latest news, data, blogs, tweets, and pinned stories.

The Company Briefing provides current financials and Engagement Signals.

Vainu Industry Taxonomy

European Sales Intelligence vendor Vainu implemented a proprietary AI-based industry taxonomy.  The 700+ segments are derived from company website content and “extensive training data sets to determine unique industries for each company.”  Custom industry labels may be combined when list building.  Thus, sales and marketing can target companies, such as “Nordic SaaS providers building marketing automation platforms” or “Medical device manufactures developing machine learning applications.”

The industry codes are clustered into 46 custom industry groups.  For example, there are over 80 software codes and 19 sustainability codes (e.g., Biofuel, Biomass Energy, Clean Energy).  Vainu has focused the initial set of codes around emerging technologies and fast-changing markets.  Traditional industries such as agriculture, food and beverage, and manufacturing are supported by broad codes as these industries are well defined by traditional industry taxonomies.

Custom Industry codes may be combined to build lists such as Medical Devices that employ Machine Learning.

“Traditional industry classifications for B2B segmentation don’t do the trick anymore—they are too generic, broad, or even incorrect,” blogged Vainu Customer Marketer Ella Tyrväinen.

Custom Industries are available on the Vainu platform and via its API.  Industry-based target lists may be exported as a CSV file or JSON.

Vainu also recently added three fields to its list exports: Countries of Operation, Website Languages, and Technographics.  In February, Vainu released a webCRM integration.