Boost Your B2B Conversions: How to Combine Third-Party Intent Data with First-Party Data.
Are you ready to improve your marketing and sales processes to drive pipeline by leveraging third-party intent data with first-party data? In this episode and post, our expert guest, Srikrishna Swaminathan, will show you exactly how to achieve immediate pipeline and revenue lift for your B2B SaaS startup.
Drawing on his extensive experience in digital marketing, analytics, and business development, Srikrishna has developed a powerful strategy to boost B2B conversion rates by effectively analyzing website visitor data and targeting high-intent ideal customer profiles. Continue reading to learn from Srikrishna’s relatable journey and discover the step-by-step process for unlocking your startup’s full potential.
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About Srikrishna Swaminathan
With a strong background in digital marketing, analytics, and ad networks, Srikrishna Swaminathan has over eight years of experience in the industry. His journey includes a leadership role at InMobi and a strategic advisory position with Globale Media for India and the APAC region. As the co-founder and CEO of Factors.AI, Srikrishna is dedicated to helping B2B marketing and growth teams improve their marketing efforts by measuring, analyzing, and optimizing marketing activities to drive revenue growth and minimize wasted marketing spend.
- Your B2B SaaS startup’s marketing and sales efforts are flourishing.
- Conversion rates are skyrocketing.
- You’re witnessing immediate pipeline and revenue growth.
Sounds like a dream, right?
But, by leveraging both first-party and third-party intent data, this dream can become a reality. Understanding your audience’s intent and targeting them accurately guarantees you’re reaching people who are truly interested in your product or service. And when done right, it can revolutionize how you approach marketing and sales, positively impacting your entire business.
B2B marketers need better analytics.
In today’s digital age, businesses depend on online platforms to boost their leads and drive revenue. However, B2B marketers must work on their current analytic solutions, leading to wasted marketing dollars and missed growth opportunities. Recent statistics reveal that a significant percentage of marketers need to start using marketing attribution tools, which makes it challenging to gain visibility into the best channels or campaigns.
But fret not! Srikrishna has developed a solution – a cutting-edge B2B marketing analytics and attribution platform. This revolutionary platform helps marketing and growth teams measure, analyze, and optimize the impact of their marketing activities on revenue, leading to more pipeline, revenue, and lower wastage of marketing dollars.
The brainchild of Swaminathan and his team, Factors.ai, was developed while they were working at InMobi, a mobile advertising company. They recognized the need for a platform that provides the same level of data and analysis from a marketing perspective. This platform focuses on the B2B SaaS industry, where long customer journeys and multiple stakeholders make it more crucial to have accurate and comprehensive analytics. Using Factors.ai, B2B marketers can identify which marketing activities generate the most ROI and revenue, even if the time between investment and return is weeks, months, or quarters.
It’s no secret that better analytics are essential for B2B marketers. With businesses increasingly relying on online platforms to generate leads and drive revenue, marketers need access to accurate and comprehensive analytics to make data-driven decisions. Factors.ai allows B2B marketers to do just that, leading to more pipeline, revenue, and lower wastage of marketing dollars. Take advantage of this opportunity to optimize your marketing activities and grow your business!
Marketers need consumable data.
As a marketer, access to data is crucial, but it’s not enough to have the data available. Marketers need understandable and actionable data to make informed decisions that lead to higher pipeline and revenue. Unfortunately, traditional marketing analytics solutions fall short of meeting these needs due to the involvement of multiple decision-makers and a non-linear buyer journey. This makes it challenging to predict the outcomes of marketing efforts and create a clear path to conversion. To make matters worse, many marketers feel uncomfortable with data and need assistance in using it to make decisions.
Thankfully, there is a solution to this problem. A platform specifically designed with the unique needs of B2B marketers in mind can present data in an understandable and actionable way, providing quick wins and actionable insights. This platform should also consider the challenges of B2B marketing, such as targeting multiple stakeholders and a non-linear buyer journey.
Enter factors.ai, the ultimate platform for B2B marketers. With factors.ai, marketers can overcome the challenges of traditional marketing analytics solutions and make data-driven decisions that lead to success. The platform provides a simplified format, allowing users to gain quick wins and insights for longer-term action. Additionally, it presents data in a consumable and actionable way, considering the unique challenges of B2B marketing.
Factors.ai is the go-to platform for B2B marketers who require consumable data to make informed, data-driven decisions that lead to higher pipeline and revenue. Say goodbye to the challenges of traditional marketing analytics solutions and hello to success with Factors.ai.
Why most analytics tools are not suited for B2B.
Are you a B2B marketer struggling to make sense of traditional analytics tools? You’re not alone. Unlike B2C marketing, the journey to make a sale in B2B involves multiple stakeholders, and mapping out this complex web can be a nightmare.
Current analytics solutions are geared towards B2C advertising, but they fall short when it comes to the unique challenges of B2B marketing.
So, what’s the solution?
Enter Factors.ai, a platform designed specifically for B2B marketers. Its user-friendly interface and simplified format provide quick insights that can be turned into actionable decisions. Say goodbye to lost data and hello to a higher pipeline and revenue.
Integrate data for comprehensive analysis.
Do you want to avoid sifting through endless data sources to get a complete view of your buyer journey? Look no further than integrating data for comprehensive analysis in B2B marketing. In the latest podcast, the speaker highlights the importance of bridging the gap in analytics and seizing new opportunities to capture data from longer sales cycles and offline conversations.
But with so many interactions happening across various channels, it can be challenging to capture everything. Despite utilizing CRM to update activity objects with details of in-person meetings and offline events, some interactions, like those in Slack or WhatsApp groups, need help to get through the cracks. That’s where factors.ai comes in, structuring data by account, users, properties, events, and event properties to enable a time-series analysis.
By understanding the incrementality of different activities, marketers can make data-driven decisions that lead to higher pipeline and revenue. With factors.ai, you can identify which activities or sets of actions have the highest ROI and optimize your marketing budget to achieve better results. Say goodbye to traditional marketing analytics solutions and hello to a complete view of your buyer journey.
Build relationships for success and to drive pipeline.
Success in any industry is about more than just analyzing data and optimizing processes. It’s also about building relationships with others. Srikrishna, a successful entrepreneur, attributes much of his success to connecting with people and collaborating with multiple individuals.
However, building relationships goes beyond simply having a vast network of contacts. It’s about creating genuine connections with others and nurturing those relationships over time. This involves consistent communication, showing a sincere interest in others, and being reliable and trustworthy.
In the business world, having a strong network of connections can open up many doors. Entrepreneurs can find potential co-founders, employees, or investors, leading to new business opportunities, partnerships, and collaborations. Also, forming good customer relationships can lead to loyalty and repeat business.
But building relationships takes time and effort. It requires a genuine interest in others and a willingness to help and support them without expecting anything in return. It also involves being open-minded and willing to learn from others.
While data analysis and optimization are important in B2B marketing, building genuine relationships is just as crucial. By cultivating authentic connections with people, entrepreneurs can create a strong support network that can help them achieve their goals and navigate the challenges of the business world. So, start building those relationships today!
Talk to customers before building.
Are you an entrepreneur eager to bring your vision to life? Before diving into product development, consider this: speaking with potential customers is key to success. Srikrishna stresses the importance of spending the first few months solely on conversations with potential customers. By doing so, entrepreneurs gain valuable insights into their target market’s pain points, use cases, and willingness to pay for a product.
But that’s not all. Building relationships is also crucial for success. Sales provides direct exposure to revenue and opportunities for partnerships. While it takes skill and time to develop, entrepreneurs can identify patterns and hire the right people to leverage their strengths and drive growth.
So, what’s the takeaway? By balancing data analysis with relationship building, entrepreneurs can achieve their goals and navigate the challenges of B2B marketing. With the right approach, you can build a product that addresses a real need and has a market fit. Refrain from investing prematurely in marketing and tooling – instead, focus on gaining insights from your potential customers and building a strong support network.
Use a data-driven sales forecasting tool.
One tool that can assist entrepreneurs in achieving their goals is a data-driven sales forecasting tool. This tool can help entrepreneurs identify where their growth is coming from and their buyer journey. By understanding these factors, entrepreneurs can make informed decisions about where to invest their resources and how to optimize their sales funnel.
The tool can also help entrepreneurs identify which channels and segments work best. For example, they might find that they are identifying more employees from 50 to 1000-employee companies than from other segments. With this knowledge, they can focus on these areas and achieve more consistent growth.
Another benefit of the tool is that it can help entrepreneurs to make reliable forecasts. By analyzing website behavior and identifying high-intent prospects, entrepreneurs can increase the number of demos they give and ultimately increase their pipeline and revenue. Additionally, the tool can help entrepreneurs to understand the incremental impact of their marketing expenses, allowing them to make more informed decisions about where to invest their resources.
However, it is essential to note that data analysis alone is insufficient to drive pipeline. Entrepreneurs must also be realistic about their projections and be willing to adjust their strategies as needed. Building relationships with customers and other stakeholders is crucial for success in the business world. By balancing data analysis with relationship building, entrepreneurs can achieve their goals and navigate the challenges of the B2B marketing world.
Having a relationship engagement score is important.
Entrepreneurs, listen up! Want to know the secret to marketing success? It’s all about balancing data analysis with relationship building. While analyzing data can give you insights into your marketing campaigns, building strong relationships with your stakeholders is equally important.
Srikrishna emphasizes the need to measure your relationship engagement score. This crucial metric can help you determine your conversion rates, deal cycle times, and revenue. Understanding your stakeholders’ concerns and interests allows you to tailor your marketing messages and provide the necessary assurances to close deals.
But here’s the catch: you must be realistic about your projections and resource constraints. We all want to grow our businesses, but you must balance that desire with your current resources. Predict outcomes using data analysis and adjust your strategies to achieve your goals predictably and sustainably.
So, to succeed in B2B marketing, you need to do both: measure your progress using data and focus on building strong relationships with your customers and other stakeholders. By doing so, you can navigate the challenges of the business world and achieve your goals. Now, isn’t that a winning strategy?
Analyze high-intent website visitors.
Are you missing out on potential customers? In B2B marketing, it’s easy to get caught up in analyzing first-party data like website conversion rates and CRM records. But what about the 95% or 96% of visitors who don’t convert on your website? They might still be interested in your product or service! That’s why it’s crucial to analyze high-intent website visitors.
Using third-party data, you can identify visitors who are most likely to become customers based on their behavior on your website. This includes visitors who have looked at the pricing page, customer case studies, or other pages indicating interest in your product or service. You can increase conversion rates and sales by focusing on these high-intent visitors.
Imagine conserving the energy of your sales team by focusing on the 20 accounts showing the most intent out of a book of 200 accounts. It’s not only more efficient, but it also increases the chances of conversion! But it’s not just about the data analysis. Building relationships with potential customers is just as important. By tailoring messaging and outreach to the needs and interests of your high-intent visitors, you can build a stronger relationship with them.
Take into account the potential of high-intent website visitors. By analyzing their behavior and focusing on relationship building, you can achieve success in the competitive world of B2B marketing. So start paying attention to those visitors showing the most interest in your product or service – they could be your next big customer!
Combine intent data for revenue.
In today’s cut-throat world of B2B marketing, companies are always looking for innovative ways to boost their conversion rates and sales. One highly effective approach that has been gaining traction lately is the use of intent data. This data refers to signals from website visitors that indicate their interest in a particular product or service. By analyzing this data, companies can identify the visitors most likely to become customers and customize their messaging and marketing efforts accordingly.
It would help if you also had more than a reliance on intent data. Companies must also focus on relationship-building and tailored messaging to succeed. This not only helps increase conversion rates and sales but also conserves the energy of the sales team. Srikrishna stressed the importance of analyzing high-intent website visitors and those who don’t convert. By retargeting them or implementing multi-channel marketing activities, companies can still reach these visitors and potentially turn them into customers.
However, Srikrishna also emphasizes the need to understand the nuances of analytics and the limitations of different tools. A deep understanding of data and the tools used to analyze it is crucial for success. And when building a founding team, Srikrishna pointed out that serendipitous relationships can often play a role. It requires a combination of luck and conscious effort to build the right team.
So, to succeed in B2B marketing, it’s all about finding the right balance between data analysis and relationship building. By identifying the visitors most likely to become customers and tailoring your messaging and marketing efforts accordingly, you can increase your conversion rates and sales while conserving your sales team’s energy. It’s a delicate balance that can ultimately pay off big time.
Startup success requires intentional effort.
Do you dream of starting your own business? If so, take a page from Srikrishna’s book. The CEO of Factors.ai recently shared his secrets to success in a podcast interview, and his insights are eye-opening.
According to Srikrishna, luck isn’t just a matter of chance. It can be created by intentionally placing yourself in the right environment and building the right startup culture. In the long run, your business requires a lot of pre-work and post-work.
So, how can you put yourself in the best position to succeed? Srikrishna recommends surrounding yourself with other spirited and high-energy individuals, working with potential co-founders, and learning from other successful startups. Consider attending the right schools or moving to a startup hub like Bangalore.
Of course, achieving startup success also requires making sacrifices and tough decisions. But by intentionally building the right culture and being in the right environment, you can increase your chances of success in the competitive world of startups.
So, are you ready to create luck for yourself? You can turn your dreams into a reality with some intentional effort.
Some topics we discuss include:
- Discern the essential contribution of B2B marketing analytics in maximizing revenue.
- Identify the challenges B2B marketers experience with legacy analytics tools.
- Investigate Factors AI’s distinct platform which is designed for all-inclusive data acquisition and assessment.
- Fuse data-driven revelations with qualitative analysis to cultivate profound engagement.
- Bring together third-party intent data and first-party data to elevate conversion rates and drive pipeline.
- And much, much more.
Listen to the episode
Related links and resources
- Check out Factors.ai
- Learn from Dr. Stephen Timme – Insight Selling: How to Increase Pipeline With Powerful Data
- Learn more from Joe Davy – 7+ Customer Engagement Marketing Strategies to Make You a Pipeline Hero
- Learn from Matthew Hunt – 5 Demand Generation Marketing Strategies to Drive Pipeline Growth
- Learn from Brandee Sanders – Data Science Process: How to go From Pilot to Pipeline to Drive Growth
- Learn more from Jake Lynn – Building a B2B Sales Pipeline That Drives Growth and How to Optimize it: 9 Essential Stages
- Learn from Mike Young – 10 Essential B2B Sales Pipeline Stages For Every Business
- Learn from Niklas Hartmann – From Guesswork to Precision: How to Identify B2B Influencers to Drive Growth
Connect with Srikrishna
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