In the past, determinations about the quality of sales leads were made rather arduously—often with sales reps going through lead lists manually in search of hunch-based indicators of conversion propensity. These days, with monthly lead flow for some companies in the thousands or tens of thousands, those old-school methods no longer cut it. Marketers need technology to quickly and reliably predict which leads are most likely to convert. That is exactly the work done by predictive analytics technology company Infer. In this episode of Moneyball for Marketing, Infer’s Chief Revenue Officer, Jim Herbold, explains what predictive lead scoring means in a B2B marketing technology environment, defines the signals that lead to effective predictive analytics and shares some remarkable tales of how this kind of marketing analytics has changed the way successful companies do business. Highlights include:
Predictive Pedagogy: Jim reveals how Infer’s B2B marketing technology combines static demographic and firmographic signals with behavioral data from a range of sources and lays that over historical data from lead through conversion to create its predictive analytics model. He also shares a few common use cases, including one unexpected case that can help marketers evaluate the efficacy of their individual campaigns.
Technology Tales: Jim shares a real world case where the use of Infer’s machine learning model tripled sales at the company where he worked and another case where predictive analytics correctly identified 95% of the top converting lead cluster.
B2Barriers: There are four factors that have slowed the adoption of predictive analytics in the B2B marketing technology sector, says Jim, who goes on to name each of them. He also explains his own prediction that this technology will soon transform business en masse, as it moves down market, into the SMB sphere.
As CRO at Infer, Jim brings his core passion and skills for company building, growth, and sales success to all of the company’s go-to-market initiatives. He is responsible for defining sales and marketing strategies, building the team that executes for growth, and embedding customer success at the core of Infer’s position as the leader in predictive analytics. Jim was Infer’s first customer while he was at Box and also served as an advisor to the company since 2012.
Glenn Gow is an expert in marketing performance, Coach, Board Advisor, Author, Speaker, Podcast Host and Founder & Advisor of Crimson Marketing. Follow me on Twitter, LinkedIn, Google+. To get a free copy of Crimson’s One-Page Marketing Metrics Funnel, visit here.