As one of the world’s leading marketing software companies, Marketo’s sales and marketing teams are among the best in the business. It’s fair to say these guys know a thing or two about demand gen.
But there are some challenges which no company, of any size, capacity or breadth of talent can avoid.
For B2B marketers, these challenges typically revolve around getting to grips with big data. Specifically: finding your target audiences (and then figuring out how best to engage with them) is the big data equivalent of finding a needle in a haystack. Even an army of marketers — armed with an arsenal of powerful, yet disparate martech tools — couldn’t do it efficiently or effectively.
Marketo’s challenges in this regard will sound familiar to any rapidly-growing, large Mid-Market or Enterprise company.
On the one hand, their own enormous sales and marketing databases were proving difficult to manage.
Building an effective lead generation strategy requires top-notch intelligence, and an uncompromising quality and coverage of underlying sales and marketing data. But with such enormous, rapidly-growing databases to manage, ensuring complete data accuracy — nevermind consistently knowing which accounts and leads to prioritize — is easier said than done.
How many potentially qualified, valuable leads and accounts were being overlooked for any number of reasons: whether due to inaccurate or incomplete data; outdated intelligence; simple human error or oversight, or something else?
On the other hand, Marketo’s demand gen team knew they had only begun to scratch the surface of their Total Available Market (TAM). Aside from their known leads and accounts, there were countless potential customers existing in “unknown” audiences somewhere in the vast expanses of their white space.
Watch: Find and Engage Your TAM with Leadspace Audience Discovery
Again, it’s worth emphasizing that such challenges are inherent to B2B lead generation. A recent poll of 275 B2B marketing leaders — conducted by the Marketing Technology Industry Council, of which Marketo is a member — found that supporting sales by identifying, engaging and converting their audiences is the most difficult challenge B2B marketers face today. The root of that problem: a lack of the right martech tools to translate their data into actionable intelligence.
Fortunately, Marketo were already ahead of the curve in understanding this problem, and were early adopters of Leadspace’s Audience Management Platform.
Marketo’s marketing and sales teams used Leadspace’s Artificial Intelligence-powered platform to get to grips with and make the most of their data at every stage of their sales funnel, using Leadspace’s three components of Audience Data Management, Audience Discovery and Audience Modeling.
That freed their sales and marketing teams to do what they do best: understand and engage with their customers at every stage of the funnel. Marketo’s SDRs, for example, were able to increase their productivity by 30% — much to the joy of SDR Manager Brett Andrews.
Andrews noted how freeing his team from the arduous, neverending task of data management by automating the process not only enabled them to do their jobs far better, but also meant that the data itself was far more accurate and reliable.
“Whenever a high-scoring account was passed on to Sales, we can now have full confidence that it is genuinely qualified.”
The results speak for themselves: most notably, a 40% increase in ASP, and a 43% win rate increase.