Conversica, Inc., a leader in Conversational AI solutions for enterprise revenue teams that help organizations attract, acquire and grow customers at scale, today revealed findings of an emerging executional gap between marketers and salespeople, as shown in the new 2021 State of Account-Based Marketing (ABM) Report in partnership with Renegade Marketing. The study found that, while 87% of marketers and salespeople agree and believe in ABM’s efficacy for converting target accounts into pipeline opportunities, the two departments are misaligned on their capacity and ability to deliver personalization at scale for effective ABM execution.
The 227-person study conducted by Renegade was equally split between marketers (51%) and salespeople (49%). Notably, 74% of ABM practitioners within the study have been practicing ABM for three or more years. Moreover, 100% of the respondents reported that they are currently selling to a defined target account list.
The results of the study point to an improvement in cooperation and mutual understanding between marketing and sales teams, with 81% of both marketers and salespeople believing that sales is doing everything they can to close deals. Further, 76% of salespeople believe marketing is doing all they can to support sales teams. Yet despite the fact that both groups are pulling in the same direction, the effort required to manually deliver timely personalized communications to every target account—using intent data generated by ABM platforms—remains a challenge for overburdened teams on both sides.
Within the study, only 49% of salespeople and 43% of marketers say they currently use intent data to personalize prospect communications. Additionally, only 38% of salespeople are sending personalized communications to top prospects on every touch. The operational silos between sales and marketing only pose further disconnects on the amount of personalization being executed on each account and touchpoint. Namely, 41% of marketers believe their salespeople are personalizing each touch. Yet, only 23% of salespeople think the same.
Jon Russo, CMO and founder of B2B Fusion commented, “If you were only handling one or two accounts at a time, it’d be pretty easy to personalize all your messaging. But when we’re talking about account-based one-to-many or one-to-few approaches, everyone is dealing with multiple accounts that have many buyer groups, each in different stages of the buying journey. At that level, personalizing outreach manually becomes incredibly challenging.”
The study delves further into why marketing and sales teams are struggling to leverage intent data, work together to scale personalized engagement and realize ABM’s full potential:
The volume of data: Among the survey respondents, 42% believe that sales teams are overwhelmed by the amount of data available on their ABM platforms.
Insufficient manpower: When asked what’s preventing their organizations from realizing ABM’s effectiveness, 33% said insufficient staff to efficiently process and interpret the data.
Personalization is time-consuming: On average, each salesperson is spending 16 hours a week just on researching prospects for personalization.
Drew Neisser, founder of Renegade Marketing said, “Our study shows that the same intent data that enables sales and marketing teams to personalize prospect communications is also hindering them from doing so at scale. Given that these challenges are primarily tied to the capacity and time required to handle the volume of data and manually engage in outreach, tools that can automate certain communications while maintaining personalization can be invaluable to sales and marketing teams. Such intelligent automation can bridge the executional gap and elicit more meaningful responses from potential buyers to help organizations reap the full benefits of their ABM strategy.”
Sonny Dasgupta, head of product marketing at Conversica added, “The big opportunity for organizations isn’t in rethinking strategy, but in optimizing ABM efforts by improving how personalization is deployed at scale.”
Jon Russo of B2B Fusion, Drew Neisser of Renegade and Sonny Dasgupta of Conversica will discuss the findings from the study and how Conversational AI supports personalization at scale for effective ABM execution during a live webinar titled, “Nothing Is Wrong With Your ABM Strategy, But Your Execution is Failing.” Register to attend the webinar on Tuesday, Oct. 26, at 1 p.m. ET. Attendees will receive a full copy of the “2021 State of Account-Based Marketing (ABM) Report: The New Sales and Marketing Divide” report, which is also available to download now on conversica.com.
Renegade LLC is a NYC-based boutique specializing in B2B brand strategy and market research. Learn more by visiting renegade.com.
Conversica is the leading provider of Conversational AI solutions that help enterprise marketing, sales, and customer success teams attract, acquire and grow customers at scale across the customer revenue lifecycle. Conversica AI Assistants serve as digital team members and autonomously engage prospects, customers, or partners in human-like, two-way interactions at scale to drive towards the next best action, whether that’s scheduling a sales meeting, gauging interest to buy additional products or services, or politely but persistently collecting overdue payments.
Processing over a billion interactions, the Conversica Conversational AI platform integrates natural language processing (NLU & NLG), decision & policy management, business process automation and deep learning capabilities to drive customer engagement across multiple digital communication channels and languages. The Conversica platform supports over 50 integrations into the most popular MAP and CRM platforms and offers an open API for custom integration.
BUYER INTENT DATA
HG Insights, the global leader in market intelligence for technology vendors, announced today it has been included as a “Representative Vendor” in the September 2021 Gartner “Market Guide for Revenue Data Solutions.”
The guide focuses on “Revenue Data Solutions (RDS) that provide essential insights for a data-driven commercial team to target prospects and customers with a demonstrated or predicted propensity to buy using actionable context, prioritization, and guidance.”
HG Insights provides a data-driven approach to help strategy, sales, and marketing teams perfect their Go-To-Market through fact-based technology insights essential for accelerating growth. By leveraging advanced technology installation insights, contract and spend analysis, and Contextual IntentTM data, HG Insights provides account-level IT intelligence to size global markets, support territory planning, and target segments with the greatest propensity to buy.
HG Insights’ CEO Elizabeth Cholawsky said "We believe our recognition as a Representative Vendor in this Gartner report further reinforces the unique value of our solutions in the marketplace."
"HG has over 10 years’ experience helping our customers accelerate revenue by answering the toughest question facing any business today, ‘Where should I allocate my scarce resources for the greatest return?’ Customers routinely tell us how they are accelerating growth and gaining competitive advantage with our insights. ROIs such as cutting cost per leads in half at Alfresco and quadrupling conversion rates at Citrix prove the point," said HG Insights’ CEO Elizabeth Cholawsky. "We believe our recognition as a Representative Vendor in this Gartner report further reinforces the unique value of our solutions in the marketplace."
Among its key findings, the guide notes that “by 2024, early adoption of RDS will propel progressive B2B organizations to achieve growth at three times that of those who delay.”
About HG Insights
HG Insights, global provider of data-driven insights to 8/10 Fortune 100® B2B tech companies, is your Go-To-Market intelligence partner.
We use advanced insights into technology installations, spend, and contract details to provide B2B companies a better way to analyze markets and target prospects. Our customers achieve unprecedented results in their marketing and sales programs thanks to the most comprehensive technology installation insights in the industry, which index billions of unstructured documents each day to produce a detailed census of the technologies companies use to run their businesses.
Dialpad Inc., the industry leader in AI-powered communication and collaboration, today announced its acquisition of Koopid, the premier AI-driven platform for an omnichannel customer experience (CX). The addition of Koopid technology will bring comprehensive omnichannel support, including chat, messaging, self-service and social media, to Dialpad Contact Center. Koopid will seamlessly integrate with Dialpad Voice Intelligence (Vi™) to optimize CX through easy-to-use digital engagement and empower brands to differentiate with personalized customer service.
“The Age of the Customer has transitioned into The Experience Age where the customer, employee and end user experience is now the great differentiator. Experience is what matters most and it needs to be mobile-friendly and remote-work functional to meet customers on their terms, and meet people where they work,” said Craig Walker, CEO, Dialpad. “The legacy on-premises providers, along with the first generation of cloud platforms, curb their customers’ ability to meet the rapidly changing needs of the modern consumer. Koopid digital engagement technology, as well as our recent acquisition of Kare Knowledgeware, will help Dialpad lead this industry from the front with innovative solutions for the complexities of tomorrow.”
The shift to personalized customer service has become the expectation of today’s discerning consumer. A tailored and informed support experience throughout the customer journey is now a significant differentiating factor for brands to leverage over traditional, tangible elements such as price or location. As impacts of the COVID-19 pandemic continue to expand and evolve, digital engagements by customers are accelerating across all channels. Too often the static technology platforms of legacy providers leave businesses and agents struggling to manage the volume fluctuations, especially from the new normal of a hybrid environment. With the acquisition of Koopid, Dialpad will offer a superior omnichannel experience enabling companies to improve digital engagement with customers and build brand loyalty.
“The Age of the Customer has transitioned into The Experience Age where the customer, employee and end user experience is now the great differentiator. Experience is what matters most and it needs to be mobile-friendly and remote-work functional to meet customers on their terms, and meet people where they work,” said Craig Walker, CEO, Dialpad.
“Koopid is thrilled to join Dialpad, the fastest-growing and most innovative company in the combined Unified Communications as a Service and Contact Center as a Service space,” said Dr. Venky Krishnaswamy, CEO and co-founder of Koopid. “The contact center software industry is wide open for disruption and will be led by only the most forward-thinking organizations offering complete, cutting-edge solutions. We anticipate a bright future together and look forward to leading CCaaS innovation as part of the Dialpad team.”
The Koopid CX platform enables brands to deliver a modern, connected and personalized customer experience within and across all digital channels. Koopid technology simplifies customer-to-company engagement and offers a broad spectrum of channels, empowering the customer to initiate contact through any channel. The AI-powered conversational platform orchestrates conversations across all channels, maintains and monitors key details through the interaction, including intent and delivers a full contextualized view to the agent. The infusion of Koopid’s omnichannel technology with Dialpad AI will offer companies a 360-degree view of customer interactions and synchronize conversations across all channels to boost CX by eliminating account detail repetition by the customer.
“Dialpad is building agile and flexible cloud contact center solutions for the next generation of forward-thinking customer service providers and Koopid is a key piece to enhance our offering,” continued Walker. “The addition of Koopid’s revolutionary technology brings full omnichannel support to Dialpad Contact Center and offers Dialpad customers the most advanced AI-powered cloud solutions in the contact center industry.”
“With the acquisition of Koopid, Dialpad continues to expand the capabilities of its contact center offering, aiming to offer the best CCaaS to pair with UCaaS,” said Sheila McGee-Smith, President and Principal Analyst, McGee-Smith Analytics. “Dialpad continues to show how its flexible, cloud-first architecture lends itself well to the incorporation of new technology quickly, either through acquisition or OEM, allowing their customers to realize benefits in weeks rather than months or even years.”
According to Metrigy’s Customer Engagement Transformation 2021-22 research study, the use of digital channels is growing rapidly with more than 72% of companies employing at least four customer interaction channels. Additionally, nearly 50% of companies buy their voice and digital channels from the same provider. Koopid technology will integrate seamlessly within the Dialpad platform and expand its truly unified Communications as a Service (TrueCaaS) experience. With a TrueCaaS™ solution delivered through a single pane of glass, and customer engagement all on one cohesive platform with AI at its core, Dialpad helps companies simplify business communications and collaboration. As the industry leader in AI-powered communication and collaboration, Dialpad is a complete, modern communications platform built on a split cloud architecture for unmatched security, reliability, voice quality and flexibility. Simple to deploy, available on any device and backed up with Vi, Dialpad improves communication between employees, customers and business partners working from anywhere.
Q Advisors, a global TMT investment bank, acted as financial advisor to Koopid in connection with this transaction.
Dialpad is the global leader in AI communications for business, transforming how the world works together. Dialpad customers benefit from truly unified business and customer communications, including a cloud business phone system, text and team messaging, video meetings and the world’s most advanced AI Contact Center — all in one beautiful app. More than 7,000 innovative brands and millions of people use Dialpad to connect their teams from anywhere including Motorola Solutions, Netflix, T-Mobile, Twitter, Uber and WeWork. Visit www.dialpad.com for more information and a demo.