The Behavioral Scoring Test

Every B2B marketer wants to do a better job of identifying which prospects are in-market and ready to buy, and which are just kicking tires. While there are a lot of vendors who say they’ve got behavioral scoring figured out, the degree of accuracy and coverage can vary widely. If you can avoid scores that sales doesn’t trust and instead find an approach that predicts winners at a very high rate, you’ll reach hero status in your organization. Below are four questions to help you evaluate behavioral modeling techniques:

1. Does the model tell you when prospects will buy?
Many behavioral models simply add points for different activities, but in order to know if someone is likely convert in a fixed timeframe, say “the next three weeks,” you need to take timing into account. A good behavioral model will look at the concentration of activity, the breath of engagement, and it will decay activities at the appropriate rate.

Infer’s New Behavior Scoring Predicts Imminent Buyers with Unprecedented Accuracy

Press Release: New Relic Boosts Win Rates by Using Infer to Model Nearly 10 Million Monthly Marketing Automation Signals and Uncover Prospects Who Will Convert within Three Weeks

Infer Inc., a leading provider of predictive applications that help companies win more customers, today announced the general availability of its behavior scoring solution, which helps sales and marketing teams predict which prospects will convert in the next three weeks. Infer is the first company to extensively mine the full spectrum of detailed activity data that is summarized in marketing automation platforms, and use advanced machine learning and predictive analytics to produce highly accurate behavior scores. Already delivering results for several rapidly growing businesses like AdRoll, Chef and New Relic, Infer has generated over 30 million behavior scores for New Relic alone by modeling 47 million activity records.

Where are You on the Path to Predictive?

Going into 2015, experts agree that predictive analytics will provide differentiation to companies in increasingly competitive markets. Now that these tools are readily available to businesses of all sizes, salespeople and marketers need to make the leap from being simply data-driven to being fully predictive-driven. So, where are you on this path?

As any organization grows, it naturally progresses towards greater data sophistication, which increases the efficiency at which you can operate. In sales and marketing, we typically see five levels of customer relationship management (CRM) and marketing automation (MA) maturity, and at each stage customer insight grows and automation increases:

Predictive Intelligence

Infer’s Behavioral Modeling Takes the Lead

According to SiriusDecisions, 68% of companies use marketing automation systems to do lead scoring, yet only 40% of sales people are getting value from it. When marketers are sitting on mountains of data, how could that be?Behavioral ScoringThe challenge with traditional scoring found in marketing automation is that it wasn’t built with a predictive-first approach. Point values are manually assigned and there isn’t any emphasis on the combination, concentration, or recency of signals. Points are just additive and the point differences between activities (e.g., downloading a whitepaper or visiting a pricing page) are essentially arbitrary. While it’s a starting point, it is easy to see why it is prone to false positives and why it is not trusted by reps.

SiriusDecisions Webinar: How to Evaluate Predictive Lead Scoring Vendors

Predictive scoring is all the rage amongst data-driven marketers, but how do you know which vendor is best? If you want to hit a home run for your B2B company, it’s time to educate yourself on what exactly predictive lead scoring is, and how you can choose the right partner to help you hit it out of the park.

Register-TodayInfer invites you to join one of the authors of SiriusDecisions’ new Field Guide to Predictive Lead Scoring for a free educational webinar.

Wednesday, September 24, 10:30 – 11:30am PT

SiriusDecisons

The presentation will cover:

  • The difference between predictive and traditional lead scoring
  • Key questions to ask when evaluating predictive vendors
  • Pitfalls to avoid when selecting a predictive lead scoring partner
  • Real-world predictive lead scoring success stories and use cases

Mindflash Uses Infer to Predict Loyal Customers

Download-PDFMindflash is the latest in a wave of companies who has gone all in on predictive.

They’re feeling the impact across sales, marketing, and customer success. Recurring revenues are up 50%, they’ve cut their payback time in half, and they’ve been able to bring in customers with higher lifetime value.

Mindflash turned to Infer’s predictive scoring solution, and began to benefit from the instant, data-driven identification of it’s best leads.

Instant Impact of Predictive Scoring

Are Free Trials Worth it?

Mindflash is a cloud-based learning platform for employee and customer training and one of Infer’s most successful customers. We recently released a Mindflash Case Study that explores how companies can further take advantage of predictive scoring. Download it here.
Mindflash Quote 2
Like many SaaS companies, Mindflash’s business partially relies on free trials. Free trials – the double-edged sword of the SaaS community – serve as a boon for some but a bane for seemingly just as many. There have been a number of articles on the topic – from Forbes suggesting a free trial is a great marketing tool and a solid step toward establishing good will with new customers to FastCompany’s writeup on Evernote which included Lincoln Murphy‘s quote that “…for most startups, freemium is a cop-out.” 
My take: For SaaS companies, free trials are increasingly becoming table-stakes – your customers simply expect them. So the question becomes -

“How can I ensure that I’m working the right leads from my Free Trial channel?”

Can’t wait to give all our D leads to my new reps

I was in a meeting with a prospect today talking about Infer. We were demoing the slider and explaining how we set buckets for the A, B, C, and D leads.

It was pointed out that the D leads contain a tiny percentage of the overall revenue.

The prospect then jumped in with something that caught me a little off off-guard. He said, “I can’t wait to give all our D leads to my new reps!”

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Now as a former inside sales rep, I sat there thinking, wow that’s a little cruel. Poor new guy. They’re going to spend their first month trying to sell to people who aren’t a fit for the product. That’s a tough start. And at what point do you tell your new rep that they’ve only got D leads in their queue?

Impact of Predictive Scoring (60 Seconds)

This short video provides a visual explanation of the value unlocked by predictive scoring. When you turn on Infer you see this instant change in behavior across all of your reps. All of a sudden your effort is almost perfectly aligned with the revenue opportunity.

Turning on Infer unlocks a huge amount of dead weight. That energy can be shifted into more productive endeavors; whether that means doubling down on your top performing leads and following up more aggressively, or finding new sources of profitable leads.