Her Mission - To add value to future customers utilizing technology to engage ‘in-market’ accounts and effectively increase revenue from the most-interested segments.
Everyone wants to win. Teams need to rally the troops behind the same cause, even if it means saying ‘no’ to a few ideas in order to open up
For Latane, it all begins with the Revenue Operating Model. By understanding the full process end to end can help identify the key conversion points, as she calls it, ‘finding the red’, potential moments of leakage, or low win-conversions. Honing in on the problem areas and fixing those specific issues will create a more predictable stream of revenue. Instead of solely working to replicate ‘green spots’ or past victories, she chooses to concentrate energy to eliminate ‘red flags’ and steadily increase victories.
In a standard industry procedure, many teams rely on lead scoring systems that will monitor a customer’s activity on a website and rank it on a scale that indicates whether he/she is likely to become a customer. These activities, such as signing up for a newsletter or placing items in cart, are tracked and enable companies to gain insights on potential customers. However, Latane prioritizes assessing in-market accounts that meet her ideal customer profile (ICP). By first researching whether or not there are enough in-market accounts to meet the intended revenue base, she develops a better understanding of a company’s capacity and the primary focus areas; and the target is not simply potential buyers but customers who are going to be successful in utilizing the product. ‘In-market’ means statistically speaking, they are most likely to open an opportunity, either with your company or a competitor; these targets are the primary focus of the majority of the marketing budget.
Rather than relying on CRM data or workshopping, 6sense develops algorithms to capture and continuously refine the ICP. From there, the code will scour the internet to identify accounts who match this idealized description. The artificial intelligence offers constant monitoring and dynamic lead generation as opposed to the archaic, static list building that has been the cornerstone for many companies. The lead gen and Business Development Representative teams then actively engage those accounts, in an attempt to be the first point of contact or education.
Instead of gating content, trading information for an email address, phone number, or subscription, 6sense advocates for engagement. By allowing access, they are able to see who on a buying team is interested in the content within a B2B interaction; in addition, they can harness keyword and page data to monitor whether an anonymous user is ready to become an active ‘in-market’ account. The segmentation strategy is reliant on hitting the right accounts. The ‘view-through-rate’ breaks down the number of people who view a piece of content and then come to a first-party property, instead of the ‘click-through’ because of shifting user habits. The next step is timing, in order to not to weird out a potential client by pushing too hard; the AI (Drift in this case) helps track the different stages or activities that the customer completes. Prioritizing education over ‘hard-selling’ allows more flexibility and champions the account’s ability to engage with the product or company.
Personalizing microtargeting utilizing AI and big data is the future of sales and marketing. This was only a high-level overview of our conversation with Latane. Be sure to listen to the entire episode.
See you next week!