Revenue Acceleration vendor Drift rolled out a pair of sales enablement tools to facilitate rapid qualification and lead routing: Fastlane lead forms and Sales Seat intent and engagement alerts.
Fastlane combines traditional lead forms with chatbots to create “conversational forms.” Prospects fill out a lead form with contact information enriched, scored, and routed to the Drift chatbot for high-scoring leads. Thus, high-scoring prospects immediately move to sales rep conversations from the website.
Low scoring leads are passed to nurture or “other automated activations.”
“As a result, sellers can focus on high-converting buyers while routing lower-priority leads to nurture campaigns or other automated activations,” wrote Drift. “The net outcome results in more qualified sales pipeline, an efficient workflow for sales reps, and overall revenue acceleration for the organization.”
If the buyers are too busy to speak immediately, they can schedule a meeting through the chatbot. Likewise, if the rep isn’t available for chat, the bot can schedule a meeting after collecting additional prospect intelligence.
It may seem odd that a firm that is a #noforms proponent would choose to begin offering forms, but not all marketers are ready to eliminate forms.
“For most marketers, it’s the number one source of leads that they drive for their sales team. And if they didn’t have that, sales teams would be on the hook to create nearly all of their own pipeline – which is very inefficient. So we realized we had to do more. We have to support our customers in every way that they work. From the inbound motion that relies on forms to the outbound motion for customers who can’t rely on marketing alone to hit their numbers.”
CEO David Cancel
There are also scenarios where a form makes more sense than a bot. Registering for a webinar works better as a form than a bot as it is transparent about the requisite data entry. Likewise, enabling forms with optional bots increases their flexibility and value.
Continue to Part II which discusses Sales Seat and the importance of rapid sales responses for inbound leads.
Dun & Bradstreet also announced that the Folloze B2B personalized marketing platform is fully integrated into D&B Rev.Up ABX. Folloze is available in both standard and advanced editions.
The D&B Data Cloud personalizes Folloze for landing pages from both inbound and outbound prospects. D&B customer profile data supports campaigns executed on display, email, or via sales outreach.
With Folloze, Rev.Up ABX customers can create and launch “data-powered, personalized omnichannel experiences across the entire buyer journey.” Folloze captures first and third-party account and individual behavior analytics which are fed back to the CDP. Folloze can also orchestrate targeted campaign activities across sales, account development, and channels.
“B2B buying and selling has changed forever,” said Eric Bauer, Chief Growth Officer at Folloze. “Today’s digital-first buyers want to be treated as partners – not campaign targets. As such, creating the engaging account-based experiences across the entire buyer journey represents the new table stakes for every marketing team. Our alliance with Dun & Bradstreet makes it easy for marketing and revenue teams to retool and quickly deliver dynamic contextual experiences across a wide range of digital touchpoints.”
Companies that deployed Rev.Up ABX include Thomson-Reuters, Schneider, Citrix, Rackspace Technology, and Sierra Wireless.
D&B Rev.Up ABX is GA across all five modules (the four channels plus the Advanced edition that combines the four). The Folloze integration will GA in June.
D&B Rev.Up ABX pricing starts at $30,000. This fee includes the ability to acquire data from the Data Cloud and the embedded CDP (D&B Lattice) along with a single channel to activate a campaign such as email, sales, or web. Other Standard features include visitor intelligence, lead form enrichment, a seat of D&B Hoover’s, Salesforce and MAP import connectors, Salesforce Buyer Insights (10 seats), the Outreach connector (10 seats), analytics, and programmatic audience building.
The Advanced edition applies to clients looking to license at least three modules. It supports broad data ingestion, social activation, paid search, and real-time visitor intelligence feeds to content management systems, along with all four channels.
Instead of building the ICP on commonly available firmographic variables, the ICP is customer service based and defined through the discovery process. A bespoke taxonomy is created that applies custom tags by persona, industry, size, etc.
“We want to align your database with your go-to-market strategy,” Feldman told GZ Consulting.
RevenueBase promises to “replace all of your data vendors with one solution” that “reaches every company and decision-maker across the globe that will benefit from your unique offering.” By delivering high-quality, targeted data, revenue teams can shift from managing databases and researching prospects to creating campaigns and focusing on selling.
RevenueBase employs AI for aggregating and integrating its multi-sourced data with the AI building a quality hierarchy for selecting which field to accept when vendors disagree on a value. The research team assists the AI modeling by collecting training data.
Data quality steps include custom research, quarterly email re-verification, and annual phone checks. Data is delivered via a quarterly secure CSV file transfer with a 90% accuracy SLA.
Content includes standard firmographics, mined and licensed business descriptions, sizing ranges, industry codes (SIC, NAICS, and custom), contact information, and technographics. Funding data includes total funding, most recent round amount, and most recent round date. While full family trees are not available, locations are tied to parent companies.
Contact data includes mobile numbers, direct numbers, LinkedIn URLs, tenure at current job, work addresses, and mapped persona.
RevenueBase has already aggregated 700 million business contacts and 100 million companies, providing it with one of the most extensive sets of contacts in the industry.
Intent data and sales triggers are not currently available.
RevenueBase provides opt-out notifications to its customers, letting them know when an individual has opted out of their database or the database of one of their contributing vendors. It also suppresses California mobile numbers in support of CCPA.
RevenueBase is off to a strong start. Since soft launching the service in October, they have generated $800,000 in revenue and have a $500,000 ARR. Early success has allowed it to launch the service without accepting outside funding.
The firm is still in the early stages of development. It has focused on building its content aggregation model, custom research, and customer service/discovery model based upon Feldman’s experience as both a B2B marketer and data industry executive. As such, RevenueBase has an advanced DaaS vision but does not yet have APIs and connectors for data delivery. However, it has a unique approach that is gaining early market traction. Initial customers include Siemens, PTC, Localytics, SolidWorks, and CB Insights.
RevenueBase is sold as a flat-rate subscription service between $50,000 and $100,000 per annum. Additional fees are applied for custom research. RevenueBase is headquartered in Boston.
RevenueBase, which describes itself as a Revenue Database as a Service (RDaaS), formally launched on Tuesday as a “one-stop data solution” that recognizes data as a “strategic asset for a business.”
According to 2016 research by SiriusDecisions, marketing databases are riddled with critical errors with bad data ranging from ten to twenty-five percent of records. SiriusDecisions noted that the firms with higher data quality have shifted from periodic data cleansing projects with discrete completion dates to data maintenance processes with “ongoing policies and procedures to maintain data quality.”
RevenueBase was founded by industry veteran Mark Feldman, the VP of Marketing at NetProspex prior to its acquisition by Dun & Bradstreet. As a marketing head at Backupify, Motion Recruitment, and Localytics, Feldman became frustrated with B2B data issues, including misalignment with the sales and marketing team’s go-to-market strategy, data decay, difficulty acquiring data, and managing disparate vendors and formats. His stint as a B2B data customer led him to return to the B2B data space and create an RDaaS company that broadly aggregates company, contact, and technographic data that aligns 1:1 with customers’ go-to-market strategies. It then builds a custom database for clients that it calls a Revenue Database, which is updated on an ongoing basis.
“When I was hired to run growth operations at Localytics, a web and mobile app analytics company, my first directive from the CEO was to put together a list of target accounts to assign to our new enterprise account executives. It was my first week and my reputation was on the line. I started by going to our data vendor and asking them to help me build a list of all of the companies in the world that were focused on mobile monetization strategies across millions of monthly active users. Seems like a slam dunk, right? Nope.
My list for Localytics was full of bad data. There was no way to confirm the companies listed had the mobile monetization opportunities that our software could solve, or that mobile monetization opportunities would be high up on their list of priorities. I quickly realized that, in the B2B world, not all data is created equal. Right then and there, I saw an opportunity to change the B2B data game by solving the major growth impediment challenges facing revenue leaders—acquiring, integrating and maintaining the quality of their data—by building the world’s first Revenue Database as a Service.”
RevenueBase CEO Mark Feldman
“Like so many B2B marketers, I was frustrated with the inadequacies of traditional list providers,” wrote Feldman. “I saw an opportunity to revolutionize the B2B data game and solve the greatest challenges facing revenue leaders today. Our all-in-one Revenue Database as a Service solution provides next-level data quality, expediency, and accuracy. We transform your data stack from a constant struggle into your greatest asset.”
RevenueBase takes a white-glove approach to serve its customers. Revenue Archetypes are defined during customer workshops and consist of an ICP, market segmentation, pains addressed, buyer personas, sales showstoppers, and “jobs to be done.” The Jobs-to-be-Done descriptor is a bit misleading as it is account, not persona-based. Jobs-to-be-Done describes the core functional “job” that an organization is trying to accomplish.
Personas cover function, level, titles, buying unit members, demographics, behavior patterns, motivations, and goals.
RevenueBase then builds a revenue database for its clients and supplements it with custom data collected by its overseas team of fifty editorial researchers.
“A revenue archetype is a model of what your ideal customer looks like, i.e., one you can derive revenue from,” said Feldman. “It’s where there is a mutual benefit. They need your product/service and will pay a fair price for it. They also will favor you over the competition because your solution will result in the best cost-benefit tradeoff for the customer.“
Conversely, the Revenue Archetype also defines companies that are not good fits (e.g., industries or geographies that require a standard not met by a firm’s offerings, such as HIPAA or GDPR). It also identifies roles not involved in purchasing a company’s products or services. These individuals may be too junior in the organization or not work in functions that use a company’s products or services.
HG Insights continues its evolution from a technographics licensor to a full-service direct source of technology market intelligence. Two weeks ago, they launched Market Intelligence, a market analytics service for marketing, product management, and strategy groups. Market Intelligence delivers “actionable insights [that] business leaders need to understand their markets in-depth, make better business decisions, and go-to-market (GTM) with confidence.”
Market Intelligence insights are derived from their global verified technology installation data, including which products have been installed, tech stack spend by category, and contract terms. “This trio of data sets powers detailed, customizable views of the entire installed technology ecosystem,” wrote the firm.
The IT Spend and tech install data are broken into different categories, helping sales teams determine which verticals are likely to have both budgets and an intention to purchase. Revenue teams can drill into market segments to understand the “size, shape, and structure” of target markets.
Likewise, marketing can use install and spend intelligence to better segment and target their outreach. Information can be analyzed by IT category, industry, region, and other relevant attributes. Better targeting allows firms to focus their marketing spend and attention on the right prospects and feed marketing qualified leads to sales.
Revenue teams can deploy Market Insights for territory optimization, account targeting based on propensity to purchase, and account-based messaging.
HG Insights contrasted Market Intelligence with traditional technology research vendors that provide “static, top-down analyst reports that are not customizable at the account level.” According to HG Insights, technology analyst reports lack the account intelligence that revenue teams require to engage with customers and prospects effectively.
“HG Insights Market Intelligence platform addresses these challenges by providing you with the bottom-up account intelligence you need to understand your markets in-depth and make better business decisions,” contrasted HG Insights Marketing Communications Manager David Guerra. Using our Market Intelligence platform, you can now instantly analyze the true size of your markets globally by technology installation, IT spend and budget, and a number of other factors.”
Users can also compare the market size of various markets such as countries by vertical to determine growth opportunities. Other features include vendor penetration rates by industry, purchasing and spend data for target accounts, and segmentation based upon ICP criteria.
“The HG Insights Market Intelligence platform gives you all the information you need to understand your markets, remove subjectivity from planning, and go to market with confidence,” stated Guerra.
A few weeks ago, HG Insights closed on an equity round with Riverwood Capital. HG Insights completed a successful 2020, reaching its highest annual recurring revenue (ARR) and profitability. Employment rose 30% last year, and revenue grew over 35%.
“Customers continue to reaffirm that HG Insights’ data’s breadth, depth, and coverage accuracy has become an indispensable asset for critical decision making at every level of a technology company,” commented Riverwood Principal Ramesh Venugopal who joined HG Insights’ Board. “HG Insights provides unique, data-driven knowledge giving decision-makers confidence that they are making the right choices.”
Part II covers how Product and Strategy teams can employ Market Intelligence for determining the Service Obtainable Market (SOM) for technology offerings.
Relationship Science (RelSci) recently announced Relationship Radar, their new relationship capital management service that marries sales intelligence with an enterprise’s network of employees, alumni, and professional relationships. I covered the feature functionality in yesterday’s blog.
The RelSci Radar release should be viewed as a V1, with a deep set of planned enhancements on the product roadmap:
Signature block scraping with automated contact updates
Integration of Radar into their iOS and Android apps
GSuite and Salesforce integrations
Broader incorporation of Radar into the RelSci platform and API
Radar is included as part of the RelSci enterprise subscription. There is no additional licensing fee beyond a $750 implementation charge that can vary slightly depending on the implementation scope.
“As part of our product roadmap, we plan to make Radar available with greater flexibility (including the option to opt-out of the front-end platform at a reduced rate), but for now Radar is only available as part of our enterprise offering,” wrote RelSci Data Product Manager Brian Hyman.
RelSci products are sold on a seat basis with volume discounts.
Pricing is based on the number of seats and configuration. RelSci did not disclose additional details.
Relationship Capital Management software was a hot category fifteen years ago but never gained much traction due to security concerns and the rise of LinkedIn as a public network. With security teams now more comfortable with cloud solutions, the category may be open to rediscovery. Introhive has been successful in the space, placing 128th on Deloitte’s 2020 Fast 500 technology list, with revenue growth of 938% between 2016 and 2019. Many of the top professional services firms have deployed Introhive, including PriceWaterhouseCoopers, with a 100,000 seat implementation across 90 countries.
“We founded Introhive with a mission to help organizations realize the full value of their relationships and better leverage the underutilized data across their business to increase revenues,” said CEO Jody Glidden. “We have evolved into a suite of artificial intelligence-based solutions that expedite growth for sales and marketing teams.”
Sales Intelligence vendor Relationship Science (RelSci) unveiled Radar, its latest business development solution. Radar analyzes emails and calendars to deliver insights about interactions between colleagues and target companies. Radar currently supports Microsoft mail platforms (e.g., Exchange, Office 365), with GSuite on the roadmap.
Each morning, business development and sales reps receive an email briefing with the latest intelligence on their scheduled appointments, even if RelSci lacks company and contact profiles for the individuals. Briefings include the date, time, location, meeting attendee lists, and information about the attendees. Daily email briefings can also be accessed from mobile devices.
RelSci intelligence includes the number of colleagues in touch with the individual, total interactions, last interaction date, and latest news. Radar also displays a list of colleagues in touch with execs, sorted by connection strength. For meetings, profiles and network connections are provided for each of the attendees.
“During these unprecedented times, it is more important than ever to help take the guesswork out of targeting prospects by utilizing RelSci with Radar to identify your strongest relationship path, coupled with full insights into your firm’s communication interactions.”
RelSci CEO Domenic Graziosi
Radar provides greater visibility into the relationship capital of a firm, delivering insights about networks across the enterprise. Along with company and contact news, RelSci offers the best path for reaching out to prospects.
“Radar generated insights are derived from Exchange scanning for specified users,” explained RelSci Data Product Manager Brian Hyman. “You need to opt-in for Radar to scan your interactions, meaning that the insights derived from this scanning will only be available for participants. However, RelSci users that do not participate in Radar scanning, but are part of an organization that has Radar participants, will be able to leverage insights generated by those Radar participants.”
Security is controllable at the account level, with each user deciding whether to participate in network sharing.
“You can opt-out of Radar entirely to prevent confidential information from being shared,” wrote Hyman. “You can also set specific sharing rules within every client account to prevent Radar data from certain users from being shared with other specified users. You can also prevent certain content from being scanned by Radar (emails marked as personal, private, confidential, etc.).”
To expedite account setup, admins can assign accounts to Exchange distribution lists maintained by their clients.
RelSci has constructed profiles for over ten million executives and estimated the connection strength between customers and each individual.
Continue to Part II with coverage of pricing, roadmap, and a discussion of Relationship Capital Management.
German Sales and Marketing Intelligence firm Echobot is entering the British market with a UK Data Pack for its CONNECT company research and TARGET prospecting services. I covered the CONNECT service yesterday. Today I’ll be delving into the TARGET offering.
Echobot TARGET supports prospect list building for companies and contacts against a broad set of British and firmographic variables, including UK SICs, postal codes, counties, web technologies, and company signals. Radius searching around postal codes lets reps target prospects near their home, office, or a client they plan to visit.
TARGET also provides a set of event signals for prospecting and alerting. German screening supports over 30 event categories, but the UK edition is limited to eight triggers, including M&A, exec changes, and partnerships. The English-language signals are still being built out and will be released as Echobot individually tunes them.
Contact list building supports eighteen departments, five job levels, job title, and field availability (e.g. email, direct dial, XING link, LinkedIn link).
TARGET Lists are displayed as a set of company tiles with a business description, contact information, and the most recent signal. Tiles may be expanded for additional attribute display of web technologies, social links, and firmographics. Users may also link to the CONNECT profile and click through older signals.
TARGET Lists include a segmentation report with an industry pie chart at the two-digit SIC level, company size pyramid, and company heat map. When rolling over the segmentation reports, ALT-text provides additional details about each industry slice or company employment wedge. Users may click on the industry pie chart to drill down into a segment. Clicking on the heat map takes the user to a full-screen view for zooming and recentering.
TARGET lists may be downloaded in four formats (Excel, CSV, JSON, and Salesforce), so records may be analyzed by sales or marketing, uploaded into Salesforce, or delivered to developers. Users may download up to 20,000 records at a time.
TARGET users may also save lists, share lists, or use lists for suppression (exclusion lists). Search criteria may be saved for re-use and alerting when new companies or contacts meet the search criteria.
A single region starts at €499 / month for both TARGET and CONNECT. Licensing both the UK and D-A-CH regions raises the price by €299 / month. Echobot is offering a €100 / month discount to customers that license their solution before the end of the year. A seven-day free trial of CONNECT is available to prospects. TARGET users receive a demo and a single-day, capped-download trial.
Echobot, like many sales and marketing intelligence vendors, has continued to grow during the pandemic. The firm added over twenty staffers this year and posted record revenue this summer.
“The expansion of the market into the English-speaking area is an important step into the future for us. It has never been more important for companies to digitally set up their sales and marketing processes. We are very pleased about the strong growth and the fact that we are able to support our customers beyond our borders.”
Echobot CEO Bastian Karweg
We are beginning to see continental sales and marketing intelligence companies build UK or pan-European services. Along with Echobot, French vendor SparkLane offers a UK service, and Scandinavian vendor Vainu has beta offerings for the UK, France, and the US. Of course, we are also seeing UK firms build European services with Rhetorik, Cognism, and DueDil offering European datasets.
German Sales Intelligence vendor Echobot announced that it is expanding beyond the D-A-CH (Germany / Austria / Switzerland) region and building a European solution. The first step in this expansion is an English-language UI with five million British companies and 23 million decision-makers.
“The market expansion into the English-speaking area is an important step into the future for us. It has never been more important for companies to set up their sales and marketing processes digitally. We are very pleased about the strong growth and the fact that from now on, we can support our customers beyond national borders,” said Echobot Media Technologies CEO Bastian Karweg.
Echobot users can add the “UK Data Pack” to their D-A-CH coverage with the data available for their TARGET (prospecting) and CONNECT (sales intelligence) services. They may also license the UK offering as a standalone service.
Company profiles include firmographics, contact information, registration numbers, web technologies, social media links, current and former directors, executives, company news, Registration and LEI Numbers, and UK SIC or German WZ (NACE variant) industry codes.
An interlinks graph ties together company and director relationships.
Company news and signals are collected from online publications, Facebook, Twitter, Instagram, and YouTube. Signals (event triggers) may be filtered by signal type or keyword, and news may be filtered by keyword, source, and whether the article is by or about the company.
There is still some tuning around company news tagging, but the product is just being launched. Echobot has a long history of German-language signal monitoring and tagging, so it will likely address this problem fairly swiftly.
Contact data is GDPR compliant, with 68% of contacts having emails and 5% displaying direct dials. “We strictly comply with GDPR, only using dials that have been made public on the web,” said Karweg. “We do not use privacy-infringing tactics like signature block scanning.” Contact data sourcing is provided so that if a rep is asked about the origination of a prospect’s personal data, the sales rep can provide the source. As part of their compliance, the firm has a data privacy officer (a GDPR requirement) and a privacy page that allows individuals to remove themselves from the database.
Echobot provides LinkedIn and XING (a popular LinkedIn rival in the D-A-CH region) contact hyperlinks, but chose not to provide Twitter or Facebook contact links “since those networks usually are used for private networking.” Directors are cross-referenced with LinkedIn and company websites to enrich their profiles further.
Contact news is gathered, though it is usually only available for top execs.
Up to twenty contacts may be viewed or downloaded from the company profile. Contact data includes email, direct dial phone, title, and source (e.g. LinkedIn, XING, Companies House, company website). Information sources are displayed as icons with hyperlinks.
Users may filter the contacts by department and level. They may also search the list by name or title.
Echobot collects most of its information from Companies House and online crawling. They have a third-party vendor relationship for email verification and social media cross-referencing but do not disclose the partner’s name.
Company data are updated daily and consolidated as soon as there have been relevant changes. Contact data are updated every 30 days or so; however, “due to GDPR, we update all contacts at least once every six months,” said Karweg. “If they aren’t publicly available anymore, they will be deleted from our database.”
Financial data is only available for the D-A-CH region, but it is on the 2021 UK roadmap.
The CONNECT sales intelligence service has a responsive design for mobile and tablet display. The TARGET prospecting tool is currently optimized for desktop use, but a mobile-ready version is on the 2021 roadmap.
CONNECT supports browser extensions for Firefox, Chrome, and Explorer. The extensions take the user from a company URL to the CONNECT company profile.
Echobot CONNECT for Salesforce supports I-Frame viewing within Company, Contact, and Lead records. When new records are created, they are matched against the Echobot reference database for enrichment. Stare-and-compare record updates are also supported.
One of the new elements of Drift’s Revenue Acceleration Platform (discussed yesterday) is the just-launched Drift Prospector, which “helps your sales team accelerate revenue by knowing which accounts to focus on and what to say. ” Sales reps can home in on engaged accounts, determine members of the buying committee at those accounts, and reach out to prospects.
“Gathering all the touchpoints a prospect has with a company, Drift Prospector helps sellers see which of their accounts have the highest intent so they can connect with more of their buyers faster, helping to accelerate revenue for the business,” wrote the firm.
Drift Prospector analyzes customer touchpoints from Drift, 6Sense, Demandbase, Marketo, Pardot, Outreach, and Salesforce. The service prioritizes target accounts, unifies behavioral insights across the buying committee, and supports outbound communications. Buying signals are converted into engagement scores, which help prioritize accounts for outbound messaging.
Buyer intelligence includes contact name, title, number of activities, and when the contact was last active. Deeper insights include “what the person was doing – including what pages they were on and which emails they opened, so [that] the seller can respond to each person on the buying committee in a personalized way.”
Prospector identifies additional contacts within the buying committee and tracks their engagement. When buyers land on a customer’s website, the revenue organization can “capitalize” on buyer’s intent and notify the team that somebody is ready to “engage them in a real-time conversation.” If there is nobody available to chat, the revenue organization can “easily send them an email, enroll them in an Outreach sequence, record them a Drift Video, or connect with them on LinkedIn.”
“There are a lot of tools out there that are focused on solving a single problem. For example, there’s Salesforce to manage accounts and log activities, Outreach to orchestrate outbound prospecting, and LinkedIn Sales Navigator to research key contacts at target accounts, and so on. Don’t get me wrong, I think these tools are a step in the right direction. But the reality is that your sellers still have to jump between them. And none of these tools tell your team where they should be spending their time in order to deliver the best result – whether they’re goaled on meetings or bookings.”
Drift CRO Todd Barnett
Drift is offering a broad vision of digital marketing which includes intent monitoring, buying committee identification, chatbots, live chat, video, and meeting scheduling. While they do not support all of the top of the funnel channels, partners 6Sense, Demandbase, and Marketo LaunchPoint can fill that gap; they are staking out a full customer lifecycle approach to marketing that moves beyond lead generation. The vision includes tools for unifying sales and marketing activities, analyzing engagement, prioritizing accounts, and buying committee discovery.
Drift is based in Boston, with offices in San Francisco, Seattle, and Tampa. They were founded in 2015 and claim over 50,000 customers. The firm continues to grow with 35 open positions across sales, marketing, product, engineering, customer support, and customer success.