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Planful Case Study

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CUSTOMER STORY INDUSTRY Computer Software HEADQUARTERS Redwood City, CA CHALLENGES Lack of a natural link in Salesforce between leads and accounts was an endless source of f rustration for revenue generating teams. SOLUTIONS LeanData's fuzzy Matching algorithm ensured incoming leads were matched to existing customers, open opportunities and target accounts. Routing helped to move leads along to the next best step of the buyer's journey and provided reps with visibility into accounts. Finally, LeanData's Round Robin Routing helped to evenly distribute 750 net-new qualified leads each month to the SDR team. RESULTS Marketing team doubled its revenue contribution by prioritizing leads most likely to convert to customers. Reps have confidence in MQLs with complete visibility and context of account activity and are able to respond immediately. Planful Doubles Marketing Contributed Revenue by Using LeanData - With Nick Ezzo, Vice President of Demand Generation Planful, a leader in cloud-based financial applications, knows all about making data actionable. Executives run the company with a "math of the business" approach, determining the metrics they need to hit using reverse waterfall calculations. This starts with Annual Recurring Revenue (ARR) and Average Selling Price (ASP) targets, and tracks up to precise goals for how many deals, pipeline opportunities (at each stage), and ultimately Marketing Qualified Leads (MQLs) they need to hit each month. With the entire company focused on MQLs as a leading indicator of revenue targets, the marketing team needed a better way to evaluate and prioritize good leads. They wanted to reduce spend on marketing channels that deliver bad leads by gaining real-time insights into program performance. On the sales side, the business had scaled to a point when the team could no longer risk spreading itself too thin by reaching out to every lead that exhibited any type of interest. Additionally, the company wanted to automate its lead routing process in order to avoid giving reps too few or too many good leads. By integrating predictive and lead routing technologies, Planful hoped to create an intelligent, end-to- end lead management system that would get the best prospects to the right reps, and ultimately help increase efficiency and revenue. The LeanData & Infer Solution Infer Identifies the Best-Fit Leads Planful started with a fit-first predictive scoring model f rom Infer, which helped the company identify what a good customer looks like. Infer's fit model leverages Planful's existing customer data f rom internal systems of record like Salesforce and Marketo – along with a variety of external data points f rom Infer's library of B2B signals – to predict how likely someone is to buy a Planful solution. With an objective method for determining when a prospect is a fit to buy its solutions, the company was able to align around a new MQL definition in which only prospects categorized as Infer A, B and C Leads (initially the company's top 50 percent of incoming leads by volume) were sent to the sales development team for follow-up. Grouping leads in these buckets gave the team a simple way to talk about how well (or poorly) a lead matches their ideal prospect and prioritize accordingly. Now, reps are able to invest most of their time in the best-quality leads, which boosts sales productivity and efficiency by aligning effort to impact. The company also leveraged Infer to build an array of Salesforce dashboards, which provide predictive metrics that help guide decision making, track performance, spot trends and prevent looming problems. The marketing team can now see instantly how many high-quality leads a certain channel, vendor or program produces, along with typical conversion rates for each type of lead – enabling them to accurately view its cost-per-good-lead for each campaign and predict how many prospects will convert into sales opportunities in a given month. Planful' sales development team also leverages its dashboard to monitor the volumes of Infer A, B and C Leads across each team member and ensure parity.

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