This product analytics company knew what characteristics made for an ideal prospect. Now, thanks to the profiles they got from BAO, they know exactly which companies fit the bill.
When you’re a young technology company in fast-growth mode, ramping up your sales pipeline quickly is critical. But you also face some challenges: a long sales cycle, a small sales and marketing team with limited resources, and the lack of brand awareness that comes with being a relatively new, upstart solution. That’s where Interana, the company that delivers a full-stack behavioral product analytics platform, found itself.
Building a Best-Practice Account-based Marketing (ABM) Foundation
The company had a lot going for it: a solid product that filled a real need in the market, and a burgeoning customer base of marquee brands. They crafted a detailed strategy to focus their lean sales and marketing resources on prospects with the best potential. Sales and marketing leadership worked together to build a tiered ABM list of target accounts and relevant titles. Then they developed a discovery roadmap to identify good prospects and avoid wasting time with companies that aren’t a good fit. Scenarios included:
- Cloud environment and usage
A non-cloud environment or certain cloud providers could be a non-starter and not worth spending cycles on.
- Complementary data platforms and/or BI tools in use
Based on experience, these are valuable entry points into a prospect company.
- Competitive “lightweight” product analytics solutions in place
The company had done competitive research and knew these tools likely weren’t solving their users’ needs, but the prospect might not even be aware that a better solution exists.
The Devil Is in the Execution
The marketing team cranked up content creation and demand generation to reach the right titles in the target accounts with messaging to address key use cases. And the AEs tackled the accounts with the MQLs marketing delivered, meetings secured by the SDRs, and through their own outreach.
While the team had the discovery roadmap for identifying the prospects with the highest potential, finding them was a different story. The information they needed to make those determinations isn’t something you can get from the usual data sources, like DiscoverOrg. And while the marketing team’s lead gen partners were using a variety of intent signals, which is valuable information, that wasn’t providing those key details either.
As a result, the AEs, together with the SEs, created a detailed discovery process to “workshop” with each prospect to uncover the information about their needs, cloud and data platform environment, current analytics stack, etc. But this took time—time that lengthened an already-long sales cycle and ate up sales productivity.
A Better Way to Perform Discovery
That’s when Interana turned to BAO’s Opportunity Identification (OppID™) service. OppID delivers actionable intelligence about prospects, including insight into the current state of their IT infrastructure, specific trigger events like contract expirations, the pains and challenges they are experiencing, the competitive products that are installed, and who will own the deal. BAO worked with Interana to develop a custom profile to provide the details their discovery process was designed to uncover.
“Disrupting a 20-year-old market as the underdog isn’t easy. We cannot afford to waste cycles chasing bad leads or even misguided good intentions. BAO put a microscope on our market and helped us understand not only the persona, but the tipping point of engagement.”
— Scott Leatherman, CMO at Interana
Then, armed with the questions and the list of target companies and titles, BAO’s team of highly experienced and professional Market Research Specialists (MRS) went to work, calling into the organizations and conducting live interviews with key influencers and decision-makers—and then delivered the in-depth, real-time profiles to the Interana team.
“Getting our first batch of profiles was an absolute eye-opener. My first reaction was how fast can we get more of these?”
— Mat McCulloch, Senior Director of Sales Strategy and Operations at Interana
Each completed profile was distributed to the account owner, who married that detail with account history, activity to date, and leads and contacts in the database to build a tailored outreach plan and messaging. The remaining profiles were sent to marketing for nurturing or disqualified as appropriate. And the marketing team uses the intelligence from all the profiles to hone its messaging and develop new content for the target audience.
“The profiles we got included the exact information the reps needed to be successful. It’s really focused our ABM program on the right companies.”
— Eddie White, VP of Sales and Business Development at Interana
How can OppID help you find your perfect prospects?
If account databases and intent data are falling short of your prospecting needs… If your team is spending too much time on discovery and not enough time engaging with sweet-spot accounts… If you ever wished there was a way to identify which companies in your target list looked exactly like X (whatever X is for you)… Contact us today at email@example.com or 978-763-7500 to learn what OppID can do for you.