CMOs May Be Missing Out On Revenue Signals Sitting Right Inside Their Salesforce Data

I’ve spoken to some CMOs who have enlisted big consulting firms to conduct TAM analysis, and have seen huge wins in the cases where these projects have uncovered opportunities to expand or hone their target market.

For those CMOs that don’t have the time or budget to conduct an in-depth TAM Analysis, I came across an interesting alternative. At the recent SiriusDecisions Summit in Nashville, I had the chance learn more about a pot of gold that might be hiding right under the noses of a lot of CMOs —sitting right in their Salesforce.com data.

During a walk-through of the CMO Insights Report, I saw first-hand how the custom tool, provided by Radius, can identify new segments with a high propensity to convert, as well as underserved existing opportunities.

The CMO Insights Report uses a mix of historical information from a company’s Salesforce database, and combines it with predictive intelligence to provide real-time feedback to a CMO regarding where their best bets for revenue growth should be placed.

The Insights Report has been available for a little less than a year, and John Hurley, Radius Director of Marketing, revealed that the platform has already provided some eye-opening intelligence for CMOs.

Consider some of the early signs of success for the Insights Reports in the past six months:

• More than 100 companies have already taken advantage of the custom analysis at no cost;
• More than 31 million CRM records have already been analyzed;
• 540 new predictive segments have been recommended as a result of the reports; and
• A 9.77% average CRM record duplication rate has been revealed to date.

In one specific example, Hurley said the CMO of a large enterprise used the CMO Insights Report to analyze a large database (containing 344,000 total CRM records) and uncovered significant intelligence and opportunities, including:

• 6 new segment recommendations generated;
• An average of 1,556 new account recommendations per new segment;
• 887 existing accounts identified that are being underserved and recommended to be prioritized; and
• A 94% increase in conversion rate across those 6 recommended segments.

“I've found highlighting a specific example of one company's stats has been more effective when describing the impact of the CMO Insights [tool] to marketers. It's more tangible to imagine the impact of instantly having your 9,000 target accounts that are converting at 94% your average,” Hurley said.

In most cases, Hurley said the custom CMO Insights Report can be generated within 24-48 hours and only requires that the company provide temporary access to its Salesforce account.

Given the fact that it is free and there is minimal time commitment, the Insights Report looks like a great way for companies to do a quick proof of concept around the potential of predictive for their organization.

In addition, with so many companies embarking on an ABM journey, the opportunity to analyze your current accounts and identify ideal additions seems like another prime reason to check out a custom report.

At a minimum, the initiative is likely to uncover some gaps in your current database and — beyond that — could reveal some significant revenue opportunities.

If you are interested in more information on the Insights Report, you can learn more here.