Engagement in the Age of the “B2B Consumer”
We recently discussed the Forrester Research report, “The Birth of the B2B Consumer”, authored by analyst Steve Casey. The report talks about the rise of a new kind of B2B buyer, and the impact this change is having on the way we do business.
It stands to reason that a new type of buyer will require a new type of sales and marketing strategy and tools. According to Forrester, companies that build their brands by looking at their company through their customer’s eyes are twice as likely to meet or exceed their financial goals.
We’ve seen this success pattern play out here at MRP. MRP is a business partner, one who really listens to its customers, and we believe wholeheartedly that this is the key to our rapid growth and financial success. Over the last 16 years, our core focus has been to identify client needs and build the software and services necessary for them to win their account-based customer engagement strategies. Because of this client focus, we have been profitable for the last 10 years, have grown over 250% in the last three years, and the average tenure of our 240 global customers is more than eight years.
During a recent Forrester briefing on ABM platforms, we emphasized the advantages that MRP Prelytix delivers to this market. We focused intensely on the idea that our platform is much more than account-based message delivery. At the core of this platform lives predictive analytics, based on constantly streaming insights. These deep, always on insights allow our customers to know what their customers and prospects are researching, what they need. Unique to MRP, this connection of insight and delivery makes it drop-dead simple for clients to trigger highly relevant messages, causing unbelievable target account engagement. As the Forrester report hypothesizes, this tailored form of personalized engagement produces immediate revenue impact.
So, what does all this mean? We believe account-based marketing, predictive analytics, artificial intelligence, and machine learning will roll up into a larger category around customer engagement. Forging this road for the market, we’re proud that the MRP Prelytix platform is first at focusing on client needs, delivering predictive customer acquisition and predictive customer engagement. We put the power of insight and action into the hands of our customers.
Our customers renew and increase their relationship with us because we give them the tools they need to engage and succeed with today’s “B2B Consumer”. Here are some examples of those features:
- MRP Prelytix is not just a platform. Executing an ABM strategy that’s powered by the insights from predictive analytics, and that drives measurable revenue for our customers, is not something a platform alone can achieve. There needs to be a set of supporting services available to achieve that objective. And, our flexibility outside the capabilities of our platform allows us to address each of our customer’s specific needs.
- MRP Prelytix ingests and analyzes a wide variety of data sources – from exchange data to web browsing to the conversations prospects are having with your sales resources or an outsourced inside sales company such as MRP. This is possible because MRP Prelytix is built on the Kx platform, the same platform that powers 18 of the top 20 global banks, NASA, and Airbus. We are able to ingest an almost infinite amount of streaming data sources to continually provide our customers with the clearest picture of the intent of their target markets.
- MRP Prelytix enables our customers to operationalize predictive analytics. We have the ability to visualize demand in the market, in real time, and engage with prospects immediately. Our metrics say that the faster you respond to a demand signal, the more likely you are to have a positive engagement with your prospects. MRP Prelytix drives programmatic digital advertising, email, direct mail, and insides sales at MRP based on the behavior it is seeing. The ability to act in near real time is critical, because demand ebbs and flows.
- MRP Prelytix orchestrates action across both sales and marketing. Almost every one of our customers has struggled with aligning their sales and marketing organizations. But because MRP Prelytix provides information, intelligence, and insights about key accounts, sales and marketing are able to align around the needs of their prospects. And they can continue to act on those insights from the very early stages of the pipeline through the entire customer lifecycle.
- MRP Prelytix measures results. Everything action we take measures impact on revenue. We don’t report to our customers on open rates or click-through rates or any of the ‘vanity’ metrics. Rather, we track every action and behavior pattern, feed it into our algorithm, and constantly adjust tactics to produce the best results. This helps our customers see real results from their sales and marketing investments.
- MRP offers a modular approach. We don’t ask our customers to rip out their existing systems. We are fully integrated with the major marketing platform – Salesforce, Eloqua, and Marketo. They can start small, having us handle just one piece of their overall process, and then grow as they need to. This protects the investments they have already made, and mitigates the risk of bringing MRP into the fold.
The B2B consumer is here to stay, and that means change is inevitable. MRP is moving customer engagement into a machine learning environment for our customers. Every customer behavior – opening an email, clicking on a banner ad, or taking a phone call – create the data points our algorithm needs to successfully execute machine learning.
We continue to fine tune our machine learning capabilities so that customer engagement strategies are automated and optimized in real time. Currently, marketing resources are determining how to engage with a set of customers, even if that outreach is programmed. In the future, this will all be done by a machine.
MRP also sees many opportunities to implement and imbed AI throughout the workflow to extract insight from all forms of available data: for example, speech to text will transform customer conversations into a source of intent data. And AI will be everywhere, helping us make sense of the massive amounts of data out there.
We are committed to a vision of customer engagement that transforms B2B sales and marketing through ‘always on’ customer insights and an engagement engine that leverages AI to drive continual, measurable improvement.