Taking Advantage of All the Data
Think about what would happen if Google Maps ignored 50 percent of what you asked it to find, and you still tried get to your destination? It’s too ridiculous to even consider.
Yet 50 percent of leads that are sourced by marketing are ignored by sales. As you
can imagine, by kicking off his session with stats like those, Alex Krawchick of HireVue had everyone’s attention during his presentation at the 2015 SiriusDecisions Summit.
In most companies today, sales and marketing teams (still!) don’t have alignment on what qualifies as a good lead. Even those businesses that have a lead scoring program, many scoring and follow-up processes are lacking any real math, they’re done in a biased manner and are based purely on guesswork. So how do you make everyone love your lead scoring?
The answer is data – take full advantage of your data, and full advantage of others’ data. By using a predictive analytics solution like Lattice Engines, HireVue has been able to make scoring approachable for both marketing and sales, and increased alignment between the two teams. Data has helped bridge the trust gap between sales and marketing. And by utilizing data to create lead and account scores, the company has gotten smarter, and been able to increase trust in the validity of the scores they create.
With predictive scoring, HireVue has increased their productivity, and are now engaging with the best leads and accounts in their database. Through the scores and data provided by the Lattice solution, HireVue found both positive and negative predictors of which customers were most likely to work with them, such as increased job openings, types of technologies prospective customers are using, etc.
HireVue has had Lattice deployed for just over a year, and they’ve seen great results. Their MQL and SQL conversation rates are greater than 2x when sales and marketing engage with predictive leads, and opportunity-to-won conversion rates have nearly doubled.
Beyond just providing sales and marketing with the same set of data through predictive analytics, HireVue went a step further, and decided to visually present scoring information to their teams. Humans process images 60,000 times faster than words, so Alex and his team wanted to see if they could help their teams understand the importance of the data through visuals, rather than just numbers and a bunch of text.
HireVue wants to tell a story for reps—they want to provide scoring context—and visually plotting leads is the answer. From an organization perspective, HireVue can also determine the health of their database by visually plotting all leads at once.
Predictive analytics provided the power behind the data, and what HireVue has done with the data to improve their business productivity is pure genius. We’re thrilled to work with so many amazing #MKTGgeniuses like them!