insight to action: how predictive analytics accelerates b2b marketing success
TRANSCRIPT
How it was done:
Disconnected ‘DIY’ or consultative approaches are replaced...
Source: Forrester Research 2015
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The Convergence of Two Powerful Approaches
ACCOUNT BASED MARKETING The Practice of Being Targeted
+ PREDICTIVE ANALYTICS
The Practice of Exploring all Possibilities
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"In fact, the relationship is so obvious that it almost seems unnecessary to lay it out: predictive vendors help marketers find accounts to target; ABM helps marketers reach target accounts.” —David Raab, Raab Associates
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What is Account Based Marketing?
ABM identifies insights, integrated marketing initiatives, and sales alignment requirements to impact a target groups of customers and prospects. Examples of account based models:
Source: SiriusDecisions 2015
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What is Predictive Analytics?
pre·dic·tive /prəˈdiktiv/ Predictive uses your past data to predict outcomes. Predict which 20% will convert. Pick winners!
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The 80/20 Rule
20% of the prospects are responsible for 80% of sales
What is Predictive Analytics?
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Source: Forrester, August, 2015
#1 Barrier
Top Challenge for Marketers
Limited visibility into target accounts.
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Predictive: A Marketer’s Swiss Army Knife
Tactic Matching
Opportunity Scoring
Smart Segmentation
Predictive Personas
Prospect Prioritization
Contact Engagement
Prospect Sourcing
Customer Scoring
Source: SiriusDecisions
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Low ‘share of wallet’ or LTV
Top of the Funnel
Addressable Market ‘Beyond the Funnel’
Middle of the Funnel
Bottom of the Funnel
Current Customers
Too many leads.
Inaccurate forecasts.
Unknown market size & customer.
Too few leads.
High churn.
Uncertainty Across the Funnel
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Upsell / Cross-Sell Determine which products are best-suited for existing customers
Top of the Funnel
Addressable Market ‘Beyond the Funnel’
Middle of the Funnel
Bottom of the Funnel
Current Customers
Prioritization Existing leads identified in your CRM based on propensity to convert
Pipeline Forecasting Inform likely revenue and sales outcomes of existing pipeline.
ABM Insights Inform total addressable market, create ideal customer profiles, select accounts, plan territory/vertical Acquisition Target new look-alikes, predict lift & best marketing channel
Churn Analysis Certainty in determining whether a particular customer will renew or churn
Predictive Use Cases Across the Funnel
1) Predictive Account Insights & Selection Marketer’s Challenge: Personalizing & Operationalizing ABM Campaigns Predictive Solution: Segment account universe & deploy via deep integrations
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Predictive Driven Account Selection
A Target Account List
Aligning with sales for account selection
ABM - Maturity of Account Selection
Leveraging Data insights
Account Insights and Account Prioritization Using Predictive To identify which Accounts are Most Likely To Convert
2) Predictive Lead Prioritization Marketer’s Challenge: Too many inbound. Predictive Solution: Use data science to prioritize inbound leads and accounts.
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Account 1 Account 2 Account 3 Industry: Finance Finance Insurance
Location: San Francisco, CA San Francisco, CA San Francisco, CA
Employees: 250-500 250-500 250-500
Revenue: $50M to $100M $50M to $100M $50M to $100M
Success Rate 8% 8% 4%
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Account 1 Account 2 Account 3 Industry: Finance Finance Insurance
Location: San Francisco, CA San Francisco, CA San Francisco, CA
Employees: 250-500 250-500 250-500
Revenue: $50M to $100M $50M to $100M $50M to $100M
Located at HQ: Yes No Yes Advertising Online: Yes No Yes Using Cloud CRM: Yes No Yes Using Tableau: Yes No Yes (News) Sales Target Misses Yes No Yes Recent CMO Hire Yes No Yes Success Rate 22% 4% 17%
High Priority Low Priority High Priority
3) Predictive Prospect Sourcing Marketer’s Challenge: In need of more lead volume. Predictive Solution: Source new accounts and contacts based on historical performance.
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Account Insights and Account Prioritization: Example
Strategy: Amplify and increase ROI for our Gold Sponsor at Marketing Innovation Summit Approach: Uncover target accounts and contacts that Product Technology = Demandbase Results: Radius is able to amplify our presence at Marketing Innovation Summit by uncovering the key accounts and contacts leveraging Demandbase.
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Insights Actions Data
○ Territory Planning ○ Channel Recommendations
○ Channel Integrations ○ Conversion Tracking
Actualizing ABM Campaigns
How it was done:
Disconnected ‘DIY’ or consultative approaches are replaced...
Source: Forrester Research 2015
How it is done:
...by end-to-end cloud platforms that connect data & machine- learning with rich customer experiences.