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Drivetrain's 3x Boost in Sales Engagement with Factors.ai
Understand Drivetrain's path to customer success with business intelligence. Learn about their data analytics practices and the solutions they used.
60
hours saved / week by the sales team
6%
reduction in the cost of acquiring customers
3x
Sales outreach engagement
Drivetrain is a strategic finance platform for B2B businesses. It helps teams build integrated plans, budgets and forecasts, track their progress against targets, and identify bottlenecks to growth. Drivetrain powers several category leaders giving them a forward-looking view of their business to make faster, confident decisions.
Read on to learn how Factors.ai enabled Drivetrain’s sales team to transform its approach by leveraging data-driven insights, leading to a 3x increase in sales engagement and 6% reduction in customer acquisition costs.
Before using Factors.ai, Drivetrain's main issue was determining which accounts to prioritize. Their broadly-targeted outreach strategy and intensive account research made it challenging to zero in and convert the most promising accounts. The absence of a comprehensive analytics solution further complicated their decision-making process.
Broad Sales Outreach Strategy
Drivetrain initially used a more general sales outreach method — reaching out to a list of companies that met their ideal customer profile — a practice often found in growing companies. Although this approach covers a large base, it can sometimes miss out on precision and may not always yield the desired results.
Account Research Tasks
The sales representatives at Drivetrain, like in many growing companies, had to delve into extensive Tier 1 and Tier 2 research to qualify and engage accounts. While this exhaustive method can yield good results over time, it often involves a great deal of time and effort, potentially reducing the sales team's productivity.
High Cost for Existing Solutions
The existing enterprise-grade account identification solutions in the software market came with a substantial price tag, posing a challenge for growing startups like Drivetrain to justify the spend.
Insufficient Account Prioritization
Before adopting Factors.ai, Drivetrain's sales team reached out to a vast number of companies, often without clear insights into their potential purchase intent. The absence of tools to highlight signals, such as a company visit to their website, left sales reps shooting in the dark, which likely impacted their productivity and overall sales performance.
The Need for Comprehensive Analytics
Drivetrain was limited to using basic KPIs, such as page visits, session time, and sessions per visit, for funnel analysis. Without a tool like Factors.ai, they could not conduct a deeper-level analysis to understand how certain blogs or pages influenced the demo booking journey for customers who filled out contact forms.
At Drivetrain, our challenges centered around one big question: 'Who do we prioritize?' Broad outreach and intensive account research only made the question louder."
Praveen Rajaretnam
Head of Product Marketing | Drivetrain
After integrating Factors.ai, Drivetrain experienced a notable shift from a broad, imprecise outreach strategy to a finely tuned, data-driven approach. By leveraging the platform's intent data, they've significantly streamlined their sales process, eliminating inefficiencies and reducing the overall Customer Acquisition Cost (CAC).
Boosting Sales Productivity
Factors.ai equips Drivetrain's sales team with precise, actionable insights into prospective account engagement. The platform eliminates the need for time-consuming, tier 1 / tier 2 research by tracking accounts that show interest in Drivetrain's offerings. This data-driven approach significantly boosts sales productivity, enabling the team to engage proactively with promising accounts, thereby improving conversion rates.
Crafting Personalized Outreach
Factors.ai consolidates data from various sources, including the Drivetrain website, G2, and LinkedIn, providing a comprehensive picture of prospective accounts’ engagement with its content and properties. Using this, Drivetrain's sales team is empowered to create highly personalized email communications tailored to each prospect's unique engagement journey. This integrated approach enhances message relevance, improving response rates and increasing engagement.
Cost Effective Solution
Unlike enterprise-grade solutions, Factors.ai offers a cost-effective yet robust account identification solution. This budget-friendly approach allows early-stage startups like Drivetrain to leverage powerful sales tools without straining their budget.
Agile Sales Workflow
Through its Slack integration, Factors.ai provides real-time notifications about account activity across Drivetrain’s properties. This immediate access to information empowers the sales team to respond swiftly and accurately to interested parties. With notifications coming in several times a day, Drivetrain can dynamically adjust its account list and initiate outreach in near real-time.
Strategic Prioritization of High-Intent Accounts
The team employs a combination of Factors data, G2 intent signals, and their ICP list to prioritize accounts. An account is given a higher priority if it exhibits high intent across all three categories - appearing on the ICP list, visiting their website, and showing intent on G2. This combination of data sources aids in focusing their resources on accounts most likely to convert.
Deep Funnel Insights
Beyond its sales-oriented features, Factors.ai provides Drivetrain with advanced analytics capabilities. Customizable dashboards allow them to track website traffic, account behavior, and other key performance indicators (KPIs). The platform also enables deep funnel analysis, like analyzing the content that led to demo call booking, yielding qualitative and quantitative insights that help fine-tune their marketing strategy for improved conversions.
With Factors.ai, we've transitioned from guessing games to precision targeting. We know who to target, backed by solid data. This has transformed Drivetrain's sales strategy, ensuring every step is informed and efficient.
Praveen Rajaretnam
Head of Product Marketing | Drivetrain
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