Outreach & Drift Make LinkedIn Top Startups

LI Top StartupsCongratulations to Outreach (#15) and Drift (#22) for making the LinkedIn Top 25 U.S. Startups list.  To be eligible for Top Startups, companies must be 7 years old or younger, have at least 50 employees, be privately held, and headquartered in the U.S.  Selection is based upon employment growth, engagement, job interest, and attraction of top talent between July 1, 2017 and June 30, 2018

Coincidentally, I just began covering Drift in my subscription newsletter.  They will be covered here in two weeks following my standard embargo.  I’ve been covering Outreach for several years.

Outreach is a sales engagement platform that helps sales reps manage their multi-channel communications with customers and prospects.  Along with templates and cadence tools, Outreach offers call recording and coaching, analytics, a partner ecosystem, and meeting management.  The firm has 285 employees and is looking to double its headcount over the next year following a $65 million funding round.  LinkedIn noted that they have 2,400 customers.

Outreach Employee Count
Seattle-based Outreach said in April that it plans to double its headcount over the next year. (Chart Source: LinkedIn)

Conversational marketing firm Drift landed a $60 million Series C round earlier this year.  The funds will be used to quadruple its office space with an expanded presence in Boston and new space in San Francisco.  As one-third of their clients are outside of the United States, they plan to open international offices later this year.

The Drift platform removes webforms and offers chatbots for conversational discovery and qualification.  “A sale doesn’t get made until a conversation happens. So, with Conversational Marketing, we created a new way of doing marketing and sales that removed the roadblocks and hurdles that can get in the way of someone talking to your business. This creates a better customer experience, makes it easier for people to buy, and ultimately creates a faster path to revenue,” said CEO David Cancel.

Drift supports email sequencing, revenue reporting, visitor id, chatbots, playbooks (templates), reporting, email reply management, and meeting scheduling.  A new Conversational Advertising capability provides conversational landing pages instead of webforms.

Drift’s goal is to be the Amazon for Business.  “Amazon revolutionized how people buy with the one-click buying experience, and that’s what we all expect online today,” said Cancel. “But when it comes to B2B, the buying process is painful. Companies force buyers to fill out forms and jump through so many hoops just to talk to them, despite the fact that most buying decisions have already been made by the time someone comes to your website. We’re on a mission to build the most customer-centric company in the world and make B2B buying as easy as buying from Amazon.”

Boston-based Drift has had rapid employee growth over the past two years (Source: LinkedIn)
Boston-based Drift has had rapid employee growth over the past two years. (Chart Source: LinkedIn)

 

ReachForce SmartSuite

ReachForce SmartSuite Process Flow
ReachForce SmartSuite Process Flow

Data hygiene vendor ReachForce released its new end-to-end data quality solution called SmartSuite which unites their SmartForms and SmartManage services into a single offering.  The SmartSuite service begins with an initial database cleanse bundled with ongoing data verification.  Sales operations can also upload their customer database for match and cleanse processing before importing the data into a CRM.  The firm notes that “providing data authenticity from the initial point of data acquisition has proven to be a priority for sales and marketing teams.”

Reachforce is positioning SmartSuite as a solution for lean marketing organizations that require “complete data to fuel their marketing programs.”  Furthermore, they stated that the pricing model is a “cost-conscious platform” with a “pricing model that scales with the size of your database and low-effort implementations.”  Beyond data hygiene, the platform offers “more robust data insights and an on-demand database builder.”

SmartSuite supports both web forms and list uploads which are immediately verified and enriched.

Other enhancements include SEC filing data for US publics and contact enrichment.

SmartSuite integrates with MS Dynamics, Marketo, HubSpot, Pardot, and Eloqua.  The solution standardizes, verifies, and dedupes company and contact records prior to matching and enriching them with over 150 attributes.  Sales and Marketing reps can also prospect for additional contacts at key accounts.

“Regardless if you’re one of the largest enterprises or a B2B startup, the burden that poor quality data places on growth remains the same,” said ReachForce CEO Dion Cornett. “We’re excited that our new innovative platform is able to address so many of the data challenges shared by our customers. Intuitive ease-of-use, extended functionality, and better data mean more successful campaigns and greater revenue.”

Data Quality in 2018

NetProspex WorkBench Value Proposition
D&B Optimizer (FKA Workbench) Value Proposition

 

As we are one month away from the new year, it is a good time to think about budgeting for data quality in 2018.

I know it isn’t glamorous, but that doesn’t mean it is unnecessary.

Data Quality software is markedly improved over the past few years.  No longer is it necessary to download and forward a file to a vendor and wait for them to process your marketing file.  Sales and Marketing Operations can now setup automated cloud cleansing that works within Marketo, Eloqua, Salesforce, Microsoft Dynamics, and other enterprise applications.  B2B vendors to consider include Dun & Bradstreet, InsideView, Zoominfo, and ReachForce.

These platforms perform both initial batch match & append and ongoing enrichment, ensuring that your sales and marketing files have both accurate and complete data.  These services also support company and contact prospecting, data health reports, suppression lists, and segmentation reporting.  A few even offer free data quality reports, deduplication, technographic enrichment, nixie files (defunct companies and departed exec files), web form support, sales intelligence services, and contact verification and standardization (e.g. address, phone, and email) for non-matched records.

As these services reside in the cloud and offer cloud connectors for the major MAPs and CRMs, the operational overhead is minimal allowing operations to focus on ABM look-a-likes, segmentation, and improved targeting instead of file management.

What’s more, data quality improvements benefit sales, marketing, and downstream systems.  A record cleansed and verified as it is created costs much less than a bad record passed down to other enterprise platforms.  Beyond direct cost reduction (storing bad data, marketing to departed execs, sales calls to abandoned voicemails, reduced time keying and updating records manually), there are improvements to segmentation, targeting, lead scoring, lead routing, and messaging.

So budget for data quality in 2018.  It isn’t glamorous, but it is effective.

The ReachForce Contact Enrichment Summary Report.
The ReachForce Contact Enrichment Summary Report.

DueDil: Interactive Lists, Ownership Selects, Webforms, & Compliance Checks

DueDil Interactive List Segmentation Analysis
DueDil Interactive List Segmentation Analysis

European company research firm DueDil rolled out a set of enhancements spanning list building, list analytics, compliance validation, and their API. DueDil’s products are used for sales intelligence, company research, and onboarding Know Your Client (KYC) / Anti-Money Laundering (AML) compliance checks.

DueDil added four Ownership search filters to assist with targeting firms with concentrated shareholdings “ripe for takeover.”  The new screens include Total Shareholding Count, Individuals Count, Companies Count, and Shareholder Name.

The firm rolled out interactive lists which build upon their list capabilities.  “Interactive List Reports offer a unique way of mapping whitespace and identifying new prospects, based on high-performing segments identified in a List Report,” said Product Marketing Manager Sam Hockley.  “By accessing a customer list in Report view, common traits and trends are visualised, and the characteristics of quality customers can be easily identified.”

Users can now view any List Report segment in Advanced Search, surfacing the companies and related criteria.  Users can drill down on segments to research anomalies or focus on size brackets within the list. The functionality can also be used to display similar companies while suppressing the original list, providing a tool for expanding the pool of ABM candidates.

Both the browser and API now support compliance checks including Politically Exposed Persons (PEPs), sanctions, fraud warnings, and adverse media.  These checks are part of standard KYC / AML onboarding steps.  The Adverse Media Check includes Gazette Status (receivership, shuttering a business) and County Court Judgments.  Politically Exposed Persons lists identify government officials and close family members to flag funds which could be related to bribes, kickbacks, and money laundering.  Sanctions lists flag individuals associated with terrorism, trafficking, and money laundering.

“Conducting these checks with DueDil allows businesses to identify any and all linkages of corporate ownership and associated individuals. As a result, when a check is run against a specific entity, that check can be extended to all of these related parties, returning any flags or sanctions across the entire group. Advanced datasets reveal the ultimate beneficial owner of a business and enable checks for PEPs and any sanctions levied against a business,” said Hockley.

DueDil performs KYC/AML checks against both businesses and individuals.  People checks are performed in conjunction with Callcredit.

DueDil also recently launched API support for webform auto-population and enrichment.

Lightning Data Partners

HG Data Opportunity Record in SFDC provides technographic intelligence.
HG Data Opportunity record in SFDC provides technographic intelligence.

Salesforce has yet to provide a roadmap for Data.com, so we will likely have to wait until Dreamforce for details.  While legacy customers continue to receive Dun & Bradstreet content, new customers are limited to the Salesforce / Jigsaw company and contact file.  However, the firm announced a set of Lightning Data partners that will support ongoing account enrichment as native Salesforce Apps.

InsideView was an original partner on the AppExchange but was disinvited after Data.com rolled out. While hidden from AppExchange searches, the InsideView for Sales solution continued to be available to joint customers as a private solution. Furthermore, the firm built additional AppExchange marketing products to supplement InsideView for Sales. These services included Target, a company and contact prospecting platform, and Refresh, a data hygiene service that matched and enriched account records with InsideView intelligence. The two companies share over one thousand joint clients.

As an initial partner in Lightning Data, InsideView is offering two services: Append account record maintenance toward the end of Q4 and Discovery account prospecting in Q1 2018. Both are native Salesforce applications. Unfortunately, Lightning Data only supports Account record enrichment and prospecting. Thus, InsideView clients looking for prospecting against InsideView’s 13 million global companies and 33 million contacts may wish to evaluate InsideView Target instead of InsideView Discovery.

InsideView positions itself as a leader in Targeting Intelligence due to their capabilities across three dimensions: company and people intelligence (Who), business triggers sourced from the news and social feeds (Why), and network connections which support warm introductions (How).

With the launch of their new Lightning Data solutions, InsideView will have strategic relationships with the two most important CRMs: Saleforce.com and Microsoft Dynamics.

InsideView CMO Tracy Eiler will be speaking at one of the Lightning Data sessions at this year’s Dreamforce as will other Lightning Data partners.

OTHER PARTNERS

DataFox is offering twenty-two curated data points and five proprietary fields for DaaS enrichment. Amongst the curated fields are standard firmographics, tech stack, and funding data including investors, total funding raise, and last funding round details. Proprietary data includes signal count over the past year, industry keywords, and similar companies. Datafox’s “AI-sourced, human-audited company data” covers over two million companies. Pricing starts at $3,500 per year.

MCH enriches accounts with medical facility details.  Institutions include hospitals; medical practices; dental practices; nursing homes; home health and hospice; ambulatory surgery; diagnostic imaging; community health; urgent care; and public health departments.  Data is updated via a team of researchers annually who populate over seventy attributes across 636,000 facilities.  Pricing starts at $500 per year.

MCH has a broader sales intelligence solution in development which will support prospecting and access to two million medical practitioners and support staff.

Clearbit enriches accounts with over forty fields including firmographics, Alexa Rank, Social Accounts, and Technology. The service also includes company news. Pricing starts at $499 per month.

HG Data populates technology product, vendor, and product category information across account, contact, and opportunity records. Also included is an account ranking score based upon deployed technology and workflows based upon complementary or competitive products. Pricing starts at $5,000 per year.

Bombora enriches account records with intent data gathered from 3,500 B2B media sites.

Additional partner announcements are expected.

Enrichment Benefits

There are multiple reasons to enrich records with third-party reference data sets.  These include shorter web forms with lower abandonment rates, improving segmentation via standardized data with fewer data gaps, ongoing data maintenance, and enhanced targeting.

Sales rep benefits from enrichment include reduced data entry, improved lead scoring and routing, and improved intelligence for account qualification, planning, and messaging.  By enriching company information within the CRM workflow, sales reps have accurate, on demand account intelligence.

Research has shown that short web forms have lower abandonment rates resulting in a higher return on demand gen marketing (Source: DataFox).
Research has shown that short web forms have lower abandonment rates resulting in a higher return on demand gen marketing (Graphic Source: DataFox).

ReachForce Unveils 3×360 Lead Hygiene

Data Quality Automation vendor ReachForce unveiled a new technology update it calls “3×360.”  The new release provides improved visibility & control, full-spectrum intelligence, and implementation & integration flexibility.  The MarTech hygiene platform provides real-time data enrichment, cleansing, and updating for Marketo, Eloqua (Oracle), Silverpop (IBM), Hubspot, and Salesforce.  The improved technology enhances both their SmartForms web form enrichment and Continuous Data Management services.

“Marketing technology stack options continue to evolve and change, however, a single fundamental factor remains unchanged in determining the success of any marketing operation – the quality and depth of the marketing lead data that flows through it,” said ReachForce CEO Bob Riazzi. “With our 3X360 update we’ve worked hard to consider multiple aspects of the marketing technologist’s needs and are proud to introduce a full spectrum of new product capabilities that will support them and the way they leverage data through their tech stacks. And why 3X360?…well, we’re a bunch of geeks from Austin.”

A new 360° Console provides a central dashboard for tracking lead enrichment and data quality.  Analytics include

  • The health of web forms that use SmartForms and the enriched leads submitted.
  • Rich drill-down reporting for Submits by form, Abandons by form, Match Rate by Geo and Marketable Submits.
  • [A] “Service Snapshot” provides summaries of enriched leads, match rate & usage enabling timely tracking and management of service contract.
ReachForce Service Snapshot for SmartForms
ReachForce Service Snapshot for SmartForms

Future Console enhancements include “client-driven configuration management and on-demand file uploads for immediate data quality improvements and enrichment.”

While ReachForce has long provided firmographic enrichment combined with contact validation and verification, they are now supporting contact-level data enrichment.  The new matching capability enriches leads with business card details, job role and function, and a social profile.

SmartForms before and after Contact Enrichment.
SmartForms before and after Contact Enrichment.

ReachForce simplified their SmartForms integration via a “simple, one-line implementation” for one or multiple forms.  The new functionality helps marketers rollout SmartForms “via multiple unique configurations without additional implementation steps.”  Their JavaScript API also “allows developers to integrate SmartForms into dynamic lead form workflows and enables decision-making based on individual SmartForms interactions.”