Most companies have a target list of big clients they would like to land or expand. However, for high-growth companies, the bigger challenge is efficiently focusing their marketing and sales resources on the right targets.
Fuze, a cloud-based unified communications platform offering voice, video, messaging and collaboration tools, has gone through several acquisitions over the years — resulting in expansive product offerings and wide-ranging account lists.
The company, which saw more than 150% sales growth in 2016 and ranked among Deloitte Technology’s Fast 500 list in 2017, needed to consolidate and rank its target account data before the sales team could identify the accounts that were most likely to convert.
Fuze began segmenting based on firmographic data, including employee size and industry. Their updated target account list included enterprise businesses across industries such as consulting, IT and transportation. While this was a good start, Senior Manager of Global Marketing Operations Emily Ketchum said it did not provide all the data the company desired. This led Fuze to look at intent data vendors that could provide extensive insights into which accounts were in active research mode and presented prime opportunities for conversion.
“There was still a pretty large universe out there that we were going after,” said Ketchum in an interview with ABM In Action. “We needed a way to get even more tailored and more targeted and be able to raise the flag to sales and marketing when an account appeared to be ready to buy — or was at least in the research phase. We wanted to really take our ABM to the next level.”
The company thoroughly vetted possible data vendors before settling on a tech stack that included TechTarget, Engagio and DataFox. “We looked at several different intent vendors and always kind of came back to TechTarget because of the richness of data that they offer,” said Ketchum.
Fuze uses Priority Engine, a purchase intent insights platform from TechTarget, to identify which accounts are surging throughout the week. The tool is positioned to identify specific individuals who are researching purchases, as well as recommend contacts who may be part of the buying team. All this information is then passed along to sales to inform and prioritize their outreach.
Fuze also uses Engagio, a marketing orchestration company, and DataFox, a company intelligence provider, to gather the firmographic and signal data needed to build out and enhance account profiles for better segmentation.
“[Engagio] is a very nice partner tool to TechTarget because it gives that full view of external signals and internal signals, so sales can really get the full picture of what may be happening within an account,” Ketchum said.
As a result, Fuze’s sales team went from targeting any and every relevant account with “spray-and-pray” tactics to developing a target account list with roughly 6,000 accounts in North America. By leveraging data from TechTarget, Engagio and DataFox, the company can provide each sales representative with a weekly list of 10-20 surging accounts to focus on.
Top accounts from these lists are also dropped into a direct mail video campaign. The accounts receive a box with a high-definition screen inside that plays a video reinforcing the Fuze brand, the value of unified communications and why Fuze will be a good fit for the target account in order to maximize the potential to close.
Fuze has seen higher open and conversion rates for accounts since it switched to an ABM approach two years ago, according to Ketchum. As a result of product enhancements and a targeted marketing and sales approach powered by data-driven insights, the company’s worldwide subscriber base has grown from nearly 50,000 in early 2015 to more than 270,000 by the end of 2017.
“We are helping to direct sales and notify them when an account is ready or potentially open to hearing from us,” said Ketchum. “We see sales having more conversations and being able to progress those conversations to opportunities that they previously wouldn’t have had because they would’ve maybe had no idea that the company was in the market at the time.”