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How RingCentral Optimized Account-Based Insights and Buyer Intelligence To Ramp Up Demand

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Access the full webcast here: https://dg-r.co/2L5QdrM

Data fuels every marketer’s strategy, but not all data is created equal. To be successful today, marketers need to be able to effectively analyze, optimize and maintain data accuracy as the first steps to gaining true insight. This is particularly true for account-based programs, where visibility into key decision makers is imperative. As the saying goes, “Garbage in, garbage out.” If the data going into your CRM is incomplete, incorrect or simply not the right data, any programs that rely on that data will deliver disappointing results.

During this webinar, David Cowings, Chief Marketing Data Scientist at RingCentral, and Chris Lynde, CEO of SaleScout Data Solutions, will share the steps needed to optimize buyer contact data and sales intelligence, with real-life insights from RingCentral’s demand gen data optimization process.

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How RingCentral Optimized Account-Based Insights and Buyer Intelligence To Ramp Up Demand

  1. 1. #bii18 How RingCentral Optimized Account-Based Insights and Buyer Intelligence To Ramp Up Demand SPONSORED BY:
  2. 2. #bii18 Your Source For The Latest B2B Marketing News & Trends demandgenreport.com twitter.com/DG_Report linkd.in/DG_Specialists
  3. 3. February 25–27, 2019 SAVE THE DATE: Join Our B2BMXperts community: b2bmx.influitive.com/join/now Hyatt Regency, Scottsdale www.b2bmarketing.exchange
  4. 4. #bii18 #bii18 Prize Pack: Register & Attend to Win Join all our #bii18 sessions live for the best chance to win • $10 Starbucks gift cards - 1 winner per session • Free passes to #B2BMX - 1 winner per day • $500 Expedia gift card - 1 winner per series
  5. 5. How are we doing? #bii18 Questions, Tweets, Resources, Survey
  6. 6. #bii18 Speakers David Cowings RingCentral Chris Lynde SaleScout Klaudia Tirico Demand Gen Report
  7. 7. 7 How RingCentral Optimized Account-Based Insights and Buyer Intelligence (to Ramp Up Demand) July 10, 2018
  8. 8. 8 Q&A Housekeeping Webinar will be recorded and made available to all participants afterwards Type in your questions in the Q&A panel on the right side of your screen We will answer your questions after today’s session
  9. 9. 9 Topics How RingCentral optimized buyer contact data and intelligence Introductions The Cost of Bad Data (and the impact on your pipeline) Q & A Results and Pipeline Impact
  10. 10. 10 Introductions David Cowings Chief Marketing Data Scientist RingCentral At RingCentral, David leads the Account Based Marketing (ABM) and Sales efforts to develop best in class marketing and sales-ops, data flows, enrichments and optimizations Chris Lynde Chief Executive Officer SaleScout Data Solutions Chris has 30+ years of experience in managing and growing data driven B2B and consumer marketing technology companies like Equifax, Experian, and EDS/Neodata. Klaudia Tirico Features Editor Demand Gen Report Editor for Demand Gen Report and ABM In Action, Retail TouchPoints. Coverage includes trends in marketing, sales and retail, and well as case studies, custom white papers and Ebooks, and bylines
  11. 11. 11 The Cost of Bad Data (and the impact on your pipeline)
  12. 12. 12 What do these failures have in common? …Bad Data New Coke Mars Orbiter Enron
  13. 13. 13 What is “bad” data? Company Databases Duplicate Data • Multiple sources of data • Multiple systems/platforms Inaccurate Data • Human error • Data Decay Incomplete Data • CRM fill rates are low • Inconsistencies at data vendors
  14. 14. 14 Why does data go “bad”? 3 - 5% data decay per month 8 million people change jobs every year 75 phone numbers change every 30 minutes 25% emails become invalid every year Source: GZ Consulting, RingLead, SaleScout
  15. 15. 15 88% of Companies affected by Bad Data 27% of B2B Data is Flawed 12% of Revenue is Lost from Bad Data The impact of “bad” data is very high $600 B = Cost of Bad Data for US Businesses $3 Trillion = Cost of Bad Data for the US Economy Source: Experian, Gartner, IDC, IBM
  16. 16. 16 The struggle to find a “single source of truth” is real 0% 20% 40% 60% 80% Lead Generation Marketing Customer Relationships Finance 80% 66% 54% 30% Top Areas Impacted by Inaccurate Data %ofCompaniesImpacted High quality data fueled RingCentral’s growth and enabled successful ABM deployment Source: Demand Gen Report
  17. 17. 17 How RingCentral optimized buyer contact data and intelligence
  18. 18. 18 Background  I am the Chief Marketing Data Scientist, reporting into Marketing Operations  My overarching goal is to develop a single source of truth to use across sales, marketing and the whole organization  When I started at RingCentral, the focus was to increase our average deal size and expand our Enterprise market share My StoryAbout RingCentral  Global provider of cloud unified communications and collaboration solutions.  Trusted by over 350,000 organizations worldwide  Empower today’s mobile and distributed workforces to be connected anywhere and on any device
  19. 19. 19 Goal: Increase our average deal size and expand our Enterprise market share  We deployed account based strategies across our sales and marketing teams  Our teams were able to collaborate on how to run plays on both sides to sell into a company  Key to our success: account based strategies rely on quality data for success
  20. 20. 20 ABM Operationalization (Methodology) Single Source of Truth Build TAM Enhance w/ Signals Build-Test-Deploy Score(s) Train Sales Build ABM Selection, Audit & Management Define Personas People Coverage
  21. 21. 21 47% 10% 27% 14% 18% 22% 8% 36% 2% 18% 0% 20% 40% 60% 80% 100% # of Accounts Scoring Model Revenue Potential Account based strategies rely on reaching the right decision makers at your target accounts 1 2 3 Define Personas and Find the Right People Find Your Target Accounts Grade your TAM with multiple buyer signals Optimize Your Contact Data Human verified data improves reach and efficiency A B C D
  22. 22. 22 Define Personas and Find the Right People 1. Don’t strictly adhere to titles (many vendors are very literal) • EX: We got “Professors of Sociology” when we asked for “CIO” 2. Decision makers reside across multiple departments: try to identify job functions and job roles not just job titles 3. Be flexible: buyer personas can change across different industries and verticals 4. Find a data vendor (like SaleScout) with Title Normalization services 1
  23. 23. 23 We used buyer signals to grade accounts from “A” to “D” with “A” as the best fit: Find Your Target Accounts Grade your TAM with multiple buyer signals 2 GROWTHALERT Rapid growth in acompany’sheadcountor revenue RELOCATION A company’sHQor branchis changinglocations CLOUDSERVICES CloudcomputingandSaaS ENGAGEMENT Email andWeb TELECOM& UC On-siteVOIP,MPLS,PBX AWARENESS 3rd Party Signals Buyer Signals Installed Technology Growth Signals Behavioral Signals
  24. 24. 24 Optimize Your Contact Data Human verified data improves reach and efficiency Standardize your data (lots of blended titles) 3 Filling in the “white” space for leads and to find lookalikes Contact-ability: right phone number, email, address
  25. 25. 25 Results  Higher Accuracy  Other vendors: 15-20% of titles drop out (don’t pass quality control)  SaleScout: really low level of fallout and high level of accuracy  SaleScout: alignment to RingCentral’s TAM increases operational efficiency  Funnel Metrics  95% deliverability  3-4% lift in click through rates  5-10% lift from MQL to SQL  Higher rate of Sales Accepted Leads (SALs) With higher quality leads, we developed greater trust between Sales and Marketing
  26. 26. 26 Buyer Signals: Impact on Pipeline 83% increase in MRR 12% decrease in Cost/MRR  330% above average in 12-month bookings  66% improvement on Opportunity-to-Close Won  5X typical LTV Per Close Won  16% above average in fCPA* Per LTV *Fully Loaded Cost Per Acquisition
  27. 27. 27 Q&A
  28. 28. 28 Company Overview RingCentral, Inc. is an award-winning global provider of cloud unified communications and collaboration solutions. Trusted by over 350,000 organizations worldwide, RingCentral solutions empower today’s mobile and distributed workforces to be connected anywhere and on any device through voice, video, team messaging, collaboration, SMS, conferencing, online meetings, contact center, and fax. SaleScout Data Solutions is a B2B sales intelligence and lead data provider to some of the nation’s most recognized brands, including RingCentral, CenturyLink, Iron Mountain, MongoDB, and WeWork. Using proprietary technologies, exclusive data sources, and human verification, SaleScout enables sales acceleration and rapid revenue growth by delivering the most accurate and qualified B2B sales and marketing solutions in the market today.
  29. 29. 29 Connect with us Chris Lynde Chief Executive Officer SaleScout Data Solutions salescoutdata.com Email: clynde@salescoutdata.com linkedin.com/in/clynde/ David Cowings Chief Marketing Data Scientist RingCentral ringcentral.com linkedin.com/in/david-cowings-858865/ Klaudia Tirico Features Editor Demand Gen Report Demandgenreport.com linkedin.com/in/klaudiatirico/
  30. 30. 30 THANK YOU
  31. 31. #bii18 Q&A / Speakers David Cowings RingCentral Chris Lynde SaleScout Klaudia Tirico Demand Gen Report
  32. 32. #bii18 Register for more sessions now thru July 13th! Join Our Next Session: What You Don't Know Can Hurt You: How Marketing Can Close The Gap To Give Sales The Insights They Need webinars.demandgenreport.com/bii18 Wednesday, July 11th 12:00 PM (EDT)

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