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.
Coverage continues with a discussion of RevenueBase’s ICP modeling and database.