A Conversation about Customer Success at MRP with Jim Regan, CMO and Co-Founder and Jaime Romero, VP Customer Success
Jim: Jaime, as MRP’s vice president of customer success, can you talk a little bit about what you do?
Jaime: I manage the customer success team, and it is our job to make sure our customers are successful and generate ROI from their engagements with MRP. The team does everything from managing our customers’ Prelytix subscriptions, helping them extract value from account data, and partnering with them to execute marketing programs.
Jim: Internally, we talk a lot about the importance of predictive analytics and account-based marketing, but I suspect our customers on the front line are dealing with more immediate concerns. What is their greatest challenge?
Jaime: The number one challenge our clients face is achieving alignment between marketing and sales. Every statistic out there says that ABM is only effective if goals, metrics, and methodology are agreed to and supported by both teams. But it’s not always easy, as sales almost always want more highly qualified leads than what marketing delivers. Marketing does a lot of the heavy lifting when it comes to outreach, but there needs to be a coordinated sales effort as part of a tactical plan.
Our customer success team works with our clients to help them define program goals and how success will be measured. We encourage them to do this in conjunction with sales. The good news is, Prelytix delivers more highly qualified leads with a 197% higher chance of conversion and a 208% increase in deal size. As these leads are delivered to sales, they buy into the process and are more willing to align with marketing.
Jim: In terms of Prelytix, what is your team driving that works really well and where have you seen the best results so far? What are you most excited about?
Jaime: What excites me the most is how our team has transitioned from a purely tactical execution engine to a strategic partner to our customers. A lot of this has been driven by Prelytix because the team gets so much more involved with our customers by helping them understand and action the data, mapping the content appropriately, and executing the most effective marketing tactics. All of this helps our customers think more strategically about their prospects. It also ensures a better customer experience.
I’m also excited about the evolution of Prelytix. Right now, we’re at a point where the platform allows us to execute in real time. I’ll talk more about that later. Prelytix drives more qualified leads that are converting at a higher percentage – 200% higher, in fact — than leads not powered by Prelytix.
Jim: We recently announced the newest version of our software, Prelytix 2.0. Tell me about some of the advanced capabilities.
Jaime: The enhancements with 2.0 will enable us to drive more real-time marketing. Here’s an example of how this works: let’s say we’re monitoring the buying intent of accounts in four or five different segments. We can organize the accounts by segment, by buyer journey stage, but are able to serve up content to individual accounts, using the intelligence we’re getting from Prelytix to inform content.
We deliver display advertising across the buyer’s journey, but with Prelytix, we customize that messaging and creative for each stage and segment. We’re also able to trigger the delivery of emails using predictive intelligence. Prospects receive display ads to drive awareness, and from there, the platform has been programmed to deliver emails automatically as early stage prospects move into a different stage. For emails that have been deployed using Prelytix data, the Click-Through-Rate (CTR) is three times higher.
Jim: For those who aren’t familiar with the relationship between predictive analytics and account-based marketing, can you explain how display has historically been done versus the way we’re doing it now?
Jaime: Historically, the data from a DSP was used to build segments based on demographic information, websites visited, and content consumed. Marketers make assumptions based on prospects’ historic consumption habits, and use them to drive messaging, creative, and delivery tactics.
With Prelytix, marketers get a much more robust view of an account and associated buying activities, based on intelligence pulled from multiple data sources. The data is aggregated, analyzed, and predicts what prospects are likely to do, rather than assuming what they’ll do based on what they’ve already done.
This enables you to target the accounts most likely to buy with customized messaging, which is the essence of true ABM – developing strategies around account-specific needs, and delivering the right messaging at the right time.
Jim: You mentioned real-time marketing earlier. Can you expand a little on that concept?
Jaime: Real-time marketing is the opposite of campaign-based marketing. In very basic terms, here is the difference: In campaign-based marketing, a marketer decides to send an e-mail. It is scheduled for a specific date and time; it has a specific subject line; it targets a specific market segment, and there may be some A/B testing. Said email goes out as planned. Of course, there are nurture emails and drip programs that are much more personalized to the prospects’ pain points, but they lack one key fundamental – intent.
Real-time marketing is driven by triggers and thresholds that are pre-set in Prelytix. An account may visit your website, or research relevant topics on the Internet. Those trigger points accumulate, and when they reach a specified threshold, the platform automatically sends out messaging, personalized to the account that has been showing activity. Prospects get information, specific to their needs, in real time, when their interest is highest. The key value proposition with Prelytix is that it is based on third party intent. We don’t need for a prospect to visit your website or download a white paper to know what they’re actively researching. If we depended on campaign-based marketing, we would most likely have missed an opportunity with a prospect who is ready to buy.
Jim: We talk a lot about how MRP Prelytix has enabled marketers to visualize the demand of their target market, and this is something that didn’t exist before. When our customers actually see the dynamic ebb and flow of this demand, it has to challenge their traditional concept of campaigns.
Jaime: You’re right. Demand is not static – it changes constantly – and the Prelytix platform captures those changes. Let’s say you are targeting 10 accounts. Not all 10 are buying a product today. One account may buy product A today; another account may buy product B. In three months, they swap! This is why real-time marketing is so important. It allows us to immediately target accounts when they are displaying intent. No more sending out a bunch of emails in one shot, hoping that 1% of the recipients are interested. I want to live in a world where I send one email real-time, and 100% of the recipients are interested!