We recently sat down with Jason Monaco, Prophyts' resident data scientist, for a peek behind the proverbial curtain to look at what makes the Prophyts AI Prediction Engine tick. Monaco is part of a key team that's instrumental in the day-to-day back-end optimization and the implementation of new features in the Prophyts AI Prediction Engine.
Posted by David Seymour on 05/14/2019 at 3:09 PM0 comments
At Prophyts we're all about listening to what our customers want. And as we began this journey back in 2015/16, the theme was clear. Our customers wanted to reach buyers early in their journey so that they can have the greatest impact possible on the purchase decision.
So we got together a "skunkworks" team of data scientists, cloud system engineers, product managers and marketers to build "Project Bold." We started looking at three years of data, such as past purchase history, and leveraged Artificial Intelligence to sift through the enormous amount of Big Data that's consumed by an organization. And a pattern started to emerge around the following data points, such as intensity, frequency and time interval, forming the foundations of the patent-pending Prophyts algorithm.
Posted by Eric Choi on 05/06/2019 at 8:57 AM0 comments
In my previous blog, I talked about the ABM Unicorn and discussed the concept of the Ideal Customer Profile, or ICP, that's core to any ABM strategy. Now let's build on that concept and talk about Sales-Ready Leads (SRLs). And, "no," these aren't leads that are saying, "I'm ready to buy right now." What SRLs represent are people who have engaged in your content from the predicted accounts based on your solution category.
In other words, these are folks who you should be calling first because they're looking for your product type/solution category and are now about to enter the consideration stage. These leads are most likely the decision makers/influencers who have defined the problem or opportunity and have identified possible solutions.
Posted by Eric Choi on 04/29/2019 at 10:53 AM0 comments
It doesn't matter which methodology or program you look at these days. The cornerstone of every Account Based Marketing (ABM) program always starts with the Ideal Customer Profile (ICP). A tremendous amount of time and resources are spent on:
- Analyzing past purchase history
- Customer look-a-likes
- Firmographics: company size, industry, stage in the sale cycle and so on
Posted by Eric Choi on 04/01/2019 at 9:41 AM0 comments
Unless you're a marketer that's been living under a rock, you probably have seen/read the stats in the "2017 State of ABM Study Findings" published by Sirius Decisions and/or heard that Account Based Marketing (ABM) is the answer to all your revenue problems.
- 60 percent of survey respondents report that influence revenue is great or significantly greater than last year as a result of ABM …
- 35 percent of survey respondents said that overall engagement in ABM accounts is up …
- And so on...
Posted by Eric Choi on 03/12/2019 at 2:55 PM0 comments
As a marketer, the struggle to drive better-quality leads for the sales team and showing marketing ROI KPIs hasn't changed. What has changed is that our audience is inundated with endless marketing messages, emails, tweets and posts and we don't know when the right time is to engage and/or nurture that relationship.
So for the sake of marketing, we blast our audience, we promote our content not knowing if it's the right time and hope fishing with a net will help. Yes, technology is out there, the challenge is that there's technology out there. There's so much data being generated through endless systems, and digital interaction marketers are lost in a sea of data among Web sites, email, search, third-party data and so on, which creates a challenge and takes time away from marketing activities.
Posted by Eric Choi on 02/21/2019 at 9:31 AM0 comments
In the most recent survey from Marketing Charts, "Top B2B Demand Generation Priorities in 2019," 68% of the respondents identified "Improving conversion rates/campaign results" as the top of their priorities. In looking deeper into the results, two other stats from this list stand out. Coming in at No. 6 on the list with 58% respondents is "Focusing on lead quality over quantity" and No. 8 on the list, "Leveraging intent/signal to identify new opportunities" with 42%.
Posted by David Seymour on 02/04/2019 at 3:22 PM0 comments
In my previous post, I discussed how a successful ABM strategy is like the major theme of the movie 'Inception,' assembling a team to plant the 'seed' of an idea, or influencing your potential buyers toward your solution that can solve their need.
Next, you need specific tools to start influencing and planting the seeds:
Posted by Sahil Jain on 01/31/2019 at 8:51 AM0 comments
If marketing and sales teams had all the resources, time and money in the world there would be no limit to what could be achieved. If you believe that, then I have a bridge to sell you.
The reality is that your customers are inundated with sales and marketing material and have become desensitized to promos, trials, special offers and services. Tactics like content syndication, search engine marketing, display advertising and so on all have their place in the marketing mix, but they all share the same limitation: They require the prospect to raise their hand and say that they’re interested in a solution before they can be engaged and, often times, this is too late. So how do you get the timing right? How do you know when your customers are most influenceable?
Posted by Eric Choi on 01/30/2019 at 11:15 AM0 comments
In my previous post, I discussed why account based marketing (ABM) should be treated like the major theme of the movie 'Inception,' that 'ABM is not solely lead generation, an outbound marketing campaign, a sales call or display advertising. No, an effective ABM strategy encompasses all of these attributes.'
Think about it, you want to essentially influence your potential buyer to purchase your products/solutions. In order to do that, you have to create awareness and be surgical in your marketing execution. In 'Inception,' in order for the inception to be successful, Cobb has to put together a team where each member has a specific set of skills, tools and responsibilities.
Posted by Sahil Jain on 01/30/2019 at 8:50 AM0 comments
I'm a movie guy. What can I say, I enjoy them, and the movie 'Inception' is one of my favorites. The film stars Leonardo DiCaprio as a professional thief who steals information by infiltrating the subconscious. He's offered a chance to have his criminal history erased as payment for the implantation (or Inception) of another person's idea into a target's subconscious. One line that really stuck with me was from DiCaprio's character, Cobb, where he describes the concept of inception, saying: 'An idea is like a virus. Resilient. Highly contagious. And even the smallest seed of an idea can grow. It can grow to define or destroy you.'
Posted by Sahil Jain on 01/28/2019 at 8:46 AM0 comments
Aligning Sales and Marketing around Key Accounts
Although Sales and Marketing have different roles, the relationship can be a perfect pairing if aligned around a common goal. As Marketing focuses on generating leads, and Sales focuses on converting leads to sales, zeroing in on key accounts with targeted messaging should be the central driver to achieving alignment, and more importantly an accelerated sales cycle.
Posted by David Seymour on 12/18/2018 at 10:03 AM0 comments
Acquiring a new customer is the most thrilling aspect to Sales and Marketing -- and vital to ongoing business success -- but it's no secret that retaining existing customers is equally important. Keeping your existing customers happy should be the first line of defense for revenue protection, but is there a second line of defense?
What if you could predict which of your customers are researching your competitors' products signaling a potential retention risk?
Posted by David Seymour on 12/05/2018 at 2:00 PM0 comments
According to a recent study (PDF download) from the Content Marketing Institute, 47 percent of the content created by B2B marketers was created for the early stage in the buyer's journey. The study also indicated that generating leads or potential customers was the most common reason for the content creation.
What's ironic is that we're still taking a shotgun approach to content marketing in this modern age of data-driving marketing. We as marketers create content and blast the content across a tired list of names hoping for engagement.
Posted by David Seymour on 11/15/2018 at 8:51 AM0 comments
Whether you're an Account Based Marketing "pro" or just getting started with your ABM strategy, you know that identifying your high-value accounts is the first step in the process. You can probably name a few off the top of your head; your biggest customer, your greatest challenge, your dream account. But you need to take your list a step further and ask:
Which of the companies on my Named Accounts list is in-market for a solution in my product category?
Prophyts answers this question.
Posted by Eric Choi on 10/16/2018 at 11:11 AM0 comments
Great Content Makes for Greater ABM Engagement
Have you ever been given content (white paper, infographic, report) to work into your Account Based Marketing (ABM) plan and just stared in awe at its lackluster appeal? Or frozen in fear because you were tasked with creating compelling, relevant content for an upcoming campaign?
We've all been there.
Posted on 10/15/2018 at 10:07 AM0 comments
It's that time of year. You've got a marketing "to-do" list a mile long and only a few months to get it all done. Not to mention your budget is "use it or lose it"—and you don't want to lose it. Prophyts Marketing Services is here to help.
DON'T MISS! 20% Off Marketing Projects Signed in October!
Contact Kimberley Walden for details.
Posted by David Seymour on 10/09/2018 at 11:18 AM0 comments
Right now, companies are facing challenges that need solutions. As stakeholders and problem solvers within these organizations research products and services, they are compiling a short-list of solutions. A list you need to be on.
As a modern marketer, you should be asking these two questions:
Posted by Eric Choi on 10/02/2018 at 11:16 AM0 comments
Prophyts Increases Lead Efficiency with Named Accounts Monitoring
Here's a scenario we've all experienced: You're manning the booth, scanning every attendee that walks by. Your booth is HOT! By the end of the event you have hundreds or thousands of "new" leads. You get back to the office and blast your captured list with a hope and a prayer that the lead is more than tchotchke collector.
What if you could determine the companies on your Events lead list that are in-market to buy products or services in your category?
Posted by David Seymour on 09/20/2018 at 11:15 AM0 comments
According to a recent survey, more than one-third of marketers report at least half of their marketing is account based (ABM), and 70 percent say they use ABM at least to some degree. ABM is on the rise, no doubt, but without a solid nurturing plan and appropriate expectations, nurturing efforts can fall short.
Try these three steps for a more effective nurturing plan:
Posted by David Seymour on 09/17/2018 at 3:57 PM0 comments
Let's be honest. Everyone has an opinion about the products and services they use on a daily basis to get the job done. And, as a marketer, having that kind of validated data can be a goldmine. But for most, getting to that insight is often more difficult than making diamonds out of coal. Understanding the product perceptions of potential buyers, what they want, and how they make decisions can be the most profitable step to messaging and ultimately sales conversion. But..
Where do you start?
How will you reach potential buyers?
What will you do with the data once acquired?
Posted by Eric Choi on 08/21/2018 at 11:13 AM0 comments
Find them with Prophyts
Let's cut right to the chase. There are prospects on your Named Account List that are looking for a product or solution in your category right NOW, and some that are NOT. But...
How do you know who's looking to buy?
Answer: Prophyts Named Account Monitoring for Prospects
Posted by Eric Choi on 08/07/2018 at 11:11 AM0 comments
In today's fast-paced, all-out, information distracted world, it's more important than ever to create a relationship with the right influencers and buyers, those that are ready to be influenced. Simply running display banners powered by firmographics and hoping a click turns into a form completion, then MQL, won't get the job done.
To make an impact, next-generation marketers must develop a lead nurturing strategy that allows marketers to start engaging with companies that are "in-market". And more importantly, identifying and engaging buyers in the Buyer's Journey that may already be looking for your solution, buyers you may not know about.
Posted by David Seymour on 07/24/2018 at 11:03 AM0 comments
The one whale watch that I've been on in my life was simply amazing. The action consists of watching for specific whale behaviors: A fluke is when a whale is at the surface, then dives down, exposing its tail above the waterline before it submerges. A half-breach is when a whale propels itself from the deep, straight up and out of the water, but only gets about half its body out of the water before sinking back down. A full breach is when, you guessed it, the whale's entire body comes out of the ocean, sort of like a massive leap, head to tail exposed with air to spare underneath the massive mammal. This is not rare behavior for humpbacks, but this stupendous visual is certainly not as common as its other behaviors, and on that particular day it seemed to be eluding us. Witnessing a humpback whale in a full breach before crashing spectacularly to the surface is the holy grail of whale watching, and I was the only person on board that day to witness it.
How did this happen? The charter captain directs the crowd's attention over a loud speaker, a little bit like an MC. The captain knows what to look for; he has surveyed the ocean-scape for the day, understands the weather conditions and feeding habits of the whales, and then he sets the direction for the spectators to follow based on this information. Not unlike reading the conditions of the modern marketing landscape, the captain creates a tactical plan to ensure that he has as many eyeballs as possible receiving his product -- in this case, whales. His business depends on it, and although on this day he's called for everyone's attention toward a specific direction, I purposely looked the opposite way. And that is when I saw it...a full breach, about 150 yards off the boat on the port side, while all others were gazed over the railing on the other side of the boat.
Posted by Scott Shultz on 06/06/2018 at 10:55 AM0 comments
It's time you took your marketing strategy to a new level with an Account Based approach. Pulling together an ABM strategy can be complex and time consuming, but with a little planning and the right predictive platform, you will see the ROI analysts are talking about.
Prophyts is a comprehensive Predictive ABM platform that offers four key strategies that bring predictive insight and marketing execution to your ABM strategy enabling you to determine which accounts to target and how to best engage them.
Posted by Eric Choi on 05/30/2018 at 10:54 AM0 comments
You've heard the expression, "You're barking up the wrong tree!" As an idiom the phrase means, "to pursue the wrong course to obtain an objective".
This applies perfectly to the challenge marketers face. Countless hours, and dollars, are spent spamming the universe with fruitless ad campaigns, or running lead gen programs that identify dabblers, not buyers. You are essentially barking up the wrong tree.
Posted by David Seymour on 05/29/2018 at 10:52 AM0 comments
Toward the end of each academic year, I’m asked to speak to a class of journalism majors about the role of graphic design in journalism. For years, my presentations revolved mostly around business-to-business (B-to-B) magazine design and how a manuscript became a finished layout. As B-to-B magazines have disappeared at the same time the evolution of content creation has migrated to marketing departments, students in business-writing classes have requested information specifically about infographics and how to create them. My staff and I have created countless infographics for clients over the years, but I have never “looked under the hood” as to their effectiveness. But the fact is, no form of content has more eye-popping statistics:
- An infographic is 30 times more likely to be read than a purely textual article.
- Infographics are liked and shared on social media 3X more than any other type of content.
- Publishers who use infographics grow in traffic an average of 12% more than those who don't.
- 90% of information transmitted to the brain is visual, and visuals are processed 60,000x faster in the brain than text.
- People remember 80% of what they see, compared with just 20% of what they read.
Posted by Scott Shultz on 05/04/2018 at 10:30 AM0 comments
It's that time of year again!
Each May, SiriusDecisions brings together thousands of sales, marketing, and product leaders from across the world for three full days of B2B research and insights. We couldn't be more excited to bring Prophyts Predictive ABM to the masses at this year's event in Las Vegas.
Posted by David Seymour on 04/26/2018 at 9:37 AM0 comments
In previous posts, we've mentioned Predictive Account Based Marketing (ABM). But how exactly does it set Prophyts apart from other ABM solutions?
ABM is all the rage and reasonably so. Statistics show that adopting an ABM strategy delivers results including increased:
- target account engagement
- closing opportunities
- average deal size
Posted by David Seymour on 04/21/2018 at 9:55 AM0 comments
Gain actionable insight with Predictive Analytics
The benefits of adopting an Account-Based Marketing (ABM) strategy are well documented. With outcomes like increased closed opportunities and growing average deal size, companies waiting to get in the game are behind the competitive curve. But an ABM strategy is only as good as the intelligence you have on the accounts you target. Whether you have an ABM strategy or have yet to implement, ask yourself these two questions:
- How do I know which companies are in-market for my solution?
- Where are these companies in the "Buyer's Journey?"
Posted by Eric Choi on 04/17/2018 at 10:51 AM0 comments
If you're a company thinking about a corporate rebrand, then you're in the market to hire a creative agency for a new visual identity. Deliverables of a visual identity makeover could include choosing a new set of corporate colors, fresh typefaces or defining a specific photo style that best represents your brand. More complex goals could include all of the above plus a messaging rewrite or a complete pivot in corporate direction. Reasons for a visual identity makeover include attracting investors, your company has scaled, an upcoming IPO, a restructuring, packaging for a sale or you're simply in need of a new look.
Before embarking upon this exercise, understand what you're contracting a creative agency to perform for you by providing a tight scope of deliverables. Some creative agencies are contracted to provide exhaustive brand guidelines encompassing brand messaging and visual identity including everything from Web site design to how your email signatures appear. Others may be contracted for limited deliverables on purpose. And some will deliver only half the job based on vague direction and a loose scope. Awareness of what you're buying with creative agencies is up to you and your own awareness of what you need.
Posted by Scott Shultz on 04/09/2018 at 1:51 PM0 comments
Predictive analytics lead to greater ROI
Activating an effective account based marketing (ABM) strategy can be one of Marketing's greatest drivers of ROI. And when the stars align and Sales and Marketing are firing on all cylinders, ABM can deliver better traction and increased closing rates on higher value deals.
But what powers the most effective ABM Strategy?
In two words, Predictive Analytics. One of the greatest challenges to an effective ABM strategy is determining which accounts are in-market. This is solved with predictive analytics. According to the SiriusDecisions Research Brief, "Leveraging Predictive Technologies for Account-Based Marketing", there is a huge benefit to powering your ABM with a "Predictive ABM" platform like Prophyts:
Posted by David Seymour on 04/03/2018 at 10:49 AM0 comments
Gain insight into in-market buyers
Account Based Marketing (AMB) is all the rage and should be front of mind for all B2B marketers. Statistics show implementing an ABM strategy delivers results ranging from increased closing opportunities, average deal size, and target account engagement. If you aren't knee deep in ABM, you should be.
But as a strategy, ABM is only a framework for WHAT to do. There are aspects of ABM that make the HOW to do it opaque, leaving marketers asking:
Posted by Eric Choi on 03/20/2018 at 10:47 AM0 comments
Account Based Marketing (ABM) has officially landed in the marketing toolbox as an effective, must-implement strategy for nurturing and winning high-value accounts. According to a 2017 SiriusDecision survey, "ABM programs are maturing, securing a bigger share of marketing budgets; organizations continue to invest in ABM technologies to better operationalize and optimize programs."
But while ABM is an effective strategy, inherent challenges exist and must be overcome in order to realize the intended result of better leads and increased sales.
Posted by David Seymour on 03/16/2018 at 1:50 PM0 comments
In previous posts we've touched briefly on Account Based Marketing (ABM) as a strategy. In today's post, ABM is the central focus.
As a B2B marketer you know the value of cutting through the noise and driving leads that matter, but in this age of cutthroat competition for buyer attention, simply casting a wide net won't meet the underlying goal of all B2B marketers: How do we best set up sales for the win?
Posted by David Seymour on 02/26/2018 at 1:05 PM0 comments
As a B2B marketer you know the value of cutting through the noise and driving leads that matter, but in this age of cutthroat competition for buyer attention, simply casting a wide net won't meet the underlying goal of all B2B marketers: How do we best set up Sales FTW? (Sales for the Win)
What is Account Based Marketing?
Posted by David Seymour on 02/20/2018 at 10:46 AM0 comments
You've got a sales and marketing strategy in place. With scheduled email blasts, banner campaigns, product-oriented-funny-cute-edgy tweets, in-depth LinkedIn and website blog posts, and event sponsorships; you've got everything covered. You're even sponsoring webinars and posting papers on industry websites to generate leads. The efforts are there, but you need more ROI. You need predictive account based marketing.
What is Predictive Account Based Marketing?
Posted by Eric Choi on 02/06/2018 at 10:44 AM0 comments
So in my last post about the buyer's journey I talked about the various stages and the need to reach buyers early in their journey when they're most influenceable.
Given the unique position of 1105 Media as producers of independent content, we recognized that we could identify people early in the buyer journey by looking at what they were reading. We also recognized that to do this at scale, we would need a very large data set of what people were reading and the ability to process this data in a meaningful way. So to help solve this question, we built a skunkworks team of data scientists, cloud systems engineers, product managers, and marketers and built strategic relationships with data partners to deliver a Big Data predictive-intelligence solution to the problem.
Posted by Eric Choi on 10/27/2017 at 11:15 AM0 comments
"28 Percent of millennials are influencing B2B buying decisions."
- Aaron Dun, SVP, SnapApp Inc
I recently came across a great article by Aaron Dun, senior vice president at SnappApp Inc. and an occasional contributor to MediaPost.com, about the impact of millennials and we should all take heed. In his commentary, "B2B Marketers Take Notice: The Millennials Are Here," Dun points out that "13 percent of millennials are making B2B buying decisions and 28 percent are influencing that decision making."
The take away here is clear: Millennials who now represent the largest generation in the U.S. labor force (according to the Pew Research Center) will have a substantial impact on the B2B buying process.
Posted by Eric Choi on 09/28/2017 at 11:15 AM0 comments
It's important to understand the different stages a buyer encounters during its purchasing-decision journey because the buyer will have different information needs at each step.
In the Awareness stage, a buyer recognizes it has a problem or opportunity. During this time, its research is focused on editorial content that is vendor-neutral and explanatory. The buyer seeks educational, third-party or vendor-neutral content.
Posted by Eric Choi on 09/19/2017 at 11:15 AM0 comments
I know there's much debate about the 67% SiriusDecisions number. But my point is that the number isn't important. What is important is that it's becoming more imperative to reach buyers early in the buying cycle. Today's sophisticated B2B buyers have access to so much information and so many resources available, most of their learning and decisions happen before they engage a sales rep. Whether that number is 50 percent or 70 percent, it doesn't matter. When the B2B buyer is at the moment of most influence, you need to be there.
Posted by Eric Choi on 08/25/2017 at 11:15 AM0 comments
Here's a round-up of the some latest rumblings in the ABM blog world:
At the risk of stating the obvious, delivering greater return on investment should be one of the top priorities for marketers -- meaning that every dollar and resources invested should be maximized to generate returns. Then it's no wonder that account-based marketing is top of mind for most marketers. After all, the process of identifying a defined list of names of companies based on their likelihood of becoming customers and engaging the individuals involved in the purchase process should be straightforward and common sense. Look at all the vendors out there that can help create data models, integrate with third-party systems and generate reports that justify marketing's existence?
In the next few series of posts, I'll reflect on my own personal experience as a marketer in the evolution of e-mail marketing, demand generation and where I believe the market is going now: data-driven marketing powered by machine learning and predictive algorithms to deliver on the account-based marketing promise.
Posted by Eric Choi on 08/15/2017 at 11:15 AM0 comments
When it comes to predictive analytics, the most common use cases focus around the imminent likelihood of something happening, such as customer churn, fraud, a particular purchase, etc.
But that ignores the true power of predictive analytics: It can detect the very earliest signals that something will indeed happen further down the road. Think, for example, of what companies could do if they could identify likely customer churn or a customer's intent-to-buy days, weeks or even months before it happened -- it's a truly powerful advantage in the marketplace. Predictive analytics now offers that for those who know how to use it.
Posted on 07/18/2017 at 11:15 AM0 comments
The increasing use of predictive models across many sectors is no surprise: In fact, market watcher Gartner has predicted that services using B2B predictive analytics will see double digit growth over the next few years.
We know that companies will want to use data science and machine learning to identify their markets and leads more easily and increase their marketing ROI; however, it's not often easy to do this kind of advanced analytcs in house.
Posted on 07/05/2017 at 11:15 AM0 comments
Unless you're a marketer that has been living under a rock, Account Based Marketing (ABM) should be at the top of your business priorities. This post is not about why or how to implement ABM -- a Google search will give you more info than what you want to know. Instead, I'd like to discuss the ability to engage with companies that are:
- In-market and are early in the buyer's journey through predictive intelligence
- Getting ramped up quickly
- Able to reach their targeted audience with relevant content
Imagine engaging with companies that are in-market to purchase a product in your category early in the buyer's journey. They may not buy from you, but they will buy from somebody. What if you can identify these in-market companies -- before they raise their hands -- and reach them with industry-leading marketing services?
Posted by Eric Choi on 06/19/2017 at 11:15 AM0 comments