With the right insights into top-tier accounts, ABM practitioners are positioned to get their message across in a relevant and contextual way — while also projecting that message over all the other noise in the marketplace. This is why close to half (48%) of companies say improving the depth and accuracy of their database is a top priority, according to research from Demand Gen Report.
For Tegile Systems, it was a matter of leveraging insight into its target accounts’ tech stacks to generate better conversations with key stakeholders and tie its offerings to potential customers’ current capabilities.
Tegile Systems identified three technologies that, when installed in a customer’s tech stack, signal a 64% lift in their closed/won revenue. In addition, the company has since seen a 49% increase in the portion of revenue garnered from accounts within their target revenue range.
“We first used technographic data through third-party vendors to help us build prospecting lists,” said James Schoensiegel, Global Marketing Operations Manager at Tegile Systems, in an interview with ABM In Action. “At the inception of our ABM planning, we knew that access to robust, flexible data sets would be key.”
Tegile Systems has roughly 900 total accounts that the company’s account executives are targeting overall. Within that, there are approximately 25 accounts that are high priority for the five regional managers, who then select five top-tier accounts within their region. The company’s account selection process has included a ranking of accounts by engagement, intent and technographic scores. To enhance those numbers, the company turned to HG Data, which offers technographic data into target accounts. HG Data had also just launched an integration with Salesforce Lightning Data.
“[The integration] enabled us to access the technographics directly in our Salesforce instance without any additional loading, mapping or APIs,” said Schoensiegel. “Ultimately, HG Data has played a central role in our selection and understanding of our ABM accounts.”
Schoensiegel and his team learned from experience that, when you have access to new data, you should first use that data to understand your installed customer base. This ultimately positions marketers to understand exactly what makes top-tier accounts so valuable.
“My first application of HG Data in Salesforce was a study of all technologies installed at our highest-yield customer accounts,” said Schoensiegel. “A few simple reports enabled me to identify three technologies that, when installed [in a customer’s tech stack], signal a 64% lift in our closed/won revenue. I built subsequent prospect lists for each [account executive] and region showing all accounts that have that same technographic makeup. Then, I built a technographic scoring model that ultimately influences our ABM account selection today.”
The technographic model was also able to feed into Schoensiegel’s Salesforce Lightning Data platform, which he said removed the chance of duplicating data.
“It’s accessible to everyone, in every role, in the CRM that they already use to manage their accounts,” said Schoensiegel. “I can build any report imaginable, because all I need is a report type that links to a lead or an account. Especially as our ABM efforts require sales and marketing reps to manage their accounts with data-driven rigor, HG Data’s Lightning Data integration has proven to be a really powerful asset.”
Schoensiegel concluded that the usage of these insights from his sales team has been the most encouraging aspect of incorporating technographic data into how the company understands and engages prospective accounts.
“It was like night and day,” said Schoensiegel. “Putting the technographic data in the hands of our sales reps was one of the best decisions we made. I saw a significant increase in sales reps’ use of [Salesforce] reports. When market changes triggered new selling opportunities, the team has been able to pivot its prospecting focus immediately because we already have the intelligence and they have become adept at using it.”