As a leader in the Forrester Wave, Leadspace is fortunate enough to meet with hundreds of companies every quarter who are looking to tackle sales & marketing challenges. Typically, the challenges fall into 4 categories – profiling, targeting, campaigning, and closing.
Let’s take a look at one of the most interesting customer use cases with Leadspace and how we worked together to go live in less than 90 days.
The Challenge: Double the Pipeline
Their Go-to-Market team was tasked with doubling Sales Qualified Opportunities driven through both new logo capture and installed base customers. The project scope was focused on inbound leads generated from two product lines with separate buying personas, and an existing marketing technology infrastructure that included a couple of Marketing Automation Platform (MAP) instances, batch data enrichment, standard website forms and basic lead scoring.
The Leadspace Solution: Delivered in 90 Days
Leadspace was tasked with delivering a Buyer Platform measurably improving all aspects of the inbound lead management process. Let’s look at how we helped them profile, target, campaign, and close better.
Established Buyer graph for real-time operational enrichment of marketing and sales profiles across 180+ account/lead/contact fields. Over 30 B2B sources were curated from the hundreds of sources available around the world. These third party sources include over 180 fields of account firmographics, lead/contact demographics, intent and semantically-mapped skills. The Leadspace Buyer Graph now enriches and scores incoming leads at a rate of more than 10K profiles per minute. This is used in SmartForms throughout the company’s website to eliminate friction and increase form-fill success.
The team took a few years of salesforce data for each of the products and built a global Total Addressable Market model and Ideal Customer Profile with AI-driven models for Intent and Propensity to Buy. Dedicated propensity models for each of the products were developed and operationalized. These models act as a categorization engine overall for inbound leads. This not only is able to inform day-to-day sales decisions on scoring for lead qualification and prioritization but also informs strategic account targeting, territory planning and campaign segmentation.
Putting the propensity, persona and intent models to work for lead classification and routing is where the rubber hits the road on inbound lead flows. The first step was to expand the lead volume by developing automated SmartForms that would reduce website form-fill friction – use the minimum number of fields to give Leadspace enough information to fully enrich the profile and score the account/person. There are now over a dozen forms on the website that are being auto-enriched and scored as the lead is captured on the inbound process. As I mentioned, we created multiple custom personas – one for each product buyer. Once any inbound lead is enriched, then the propensity or FIT scoring classifies the account into a strong or weak lookalike category, the persona score is calculated on the likelihood of the person being a strong persona fit and finally intent is calculated so that 3rd party term search context and 1st party site visit data can be signaled for in-market activity. A/B testing is now in process to measure lead routing with and without engagement based on scoring.
Finally, Leadspace enriched profiles and models fuel the Salesforce Account, Lead and Contact views with accurate profile data (contact information, company hierarchies, etc.), propensity scoring, persona scoring and intent scoring/topics for both Business Development Reps and Sales Executives. Leadspace enabled their marketing and sales team to utilize the tools and data effectively and established quarterly executive business reviews to assess progress towards goals and platform effectiveness.
This was an example of how a great marketing and sales operations team in partnership with Leadspace can create a real-time lead management system within a quarter. Next week we will look at the best practices that some of the top tech B2B companies are using for lead-to-account matching, account/lead/contact enrichment and scoring on inbound and outbound programs.
If any of this interests you, please reach out to us here!