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When I was hired to run growth operations at Localytics, a web and mobile app analytics company, my first directive from the CEO was to put together a list of target accounts to assign to our new enterprise account executives. It was my first week and my reputation was on the line. I started by going to our data vendor and asking them to help me build a list of all of the companies in the world that were focused on mobile monetization strategies across millions of monthly active users. Seems like a slam dunk, right? Nope.
My list for Localytics was full of bad data. There was no way to confirm the companies listed had the mobile monetization opportunities that our software could solve, or that mobile monetization opportunities would be high up on their list of priorities. I quickly realized that, in the B2B world, not all data is created equal. Right then and there, I saw an opportunity to change the B2B data game by solving the major growth impediment challenges facing revenue leaders—acquiring, integrating and maintaining the quality of their data—by building the world’s first Revenue Database as a Service.
While holding marketing and revenue operations leadership roles at Localytics (acquired by Upland Software), Motion Recruitment Partners, and Backupify (acquired by Datto), and helping to build NetProspex into a leader in the B2B data space (acquired by Dun & Bradstreet), I witnessed list providers failing their customers, over and over again. According to SiriusDecisions, twenty five percent of an average prospect database is inaccurate and bad leads are consistently one of the biggest challenges in B2B sales and marketing. What does this all amount to? According to Gartner, companies can miss out on up to 66 percent in revenue due to poor data quality. Old school data companies are simply not cutting it.
In order to fully and meaningfully meet the growth targets that are required of B2B revenue teams, we need more advanced targeting and market segmentation, sophisticated customer archetypes and personas, guaranteed information quality and accuracy, and streamlined database integration and upkeep. As a revenue leader, if you don’t have these, your campaigns won’t reach your intended audience and achieve the impact you need. Without solving the data equation, you will continue to miss your targets and be left wondering if marketing is really worth the money and staff resources. This is not where any of us who do this work want to be.
Until now, there has been no single B2B database fix that checks all the boxes, just a laundry list of software and service providers to stitch together into a technology stack that many practitioners cynically refer to as a “frankenstack.” So I built my own. With RevenueBase, I am bringing the first all-in-one solution to the B2B data industry for marketing and sales.
The Revenue Database as a Service offers all the guidance, information, and technologies necessary to acquire quality data, integrate the data into your sales and marketing technology stack, and to keep it accurate and up-to-date.
Acquire
Existing data vendors and their targeting techniques are blunt instruments at best. When you work with them, the data that underpins your marketing and sales ends up flawed, resulting in millions of dollars spent on marketing that produces only poor quality leads. At RevenueBase, we target your database through our signature Revenue Archetyping Method, identifying the decision-makers and companies that need your products or services. Our way is personalized (we talk to you and actively listen!), thorough, and driven by your marketing and sales strategy.
We start with the whole market (from a global reach of 700+ million contacts and 100+ million companies) and, from there, we target and filter your quality data. By quality, we mean accurate contact information (companies, names, emails, direct dial phone numbers, LinkedIn profiles, etc.) that fits all the criteria based on your ideal customer profiles and target personas.
Looking for sales executives at e-commerce companies in North America with over 1,000 product reviews on Amazon? How about the marketing teams at a company that uses SMS to connect with users? We give you that data in one complete database.
Integrate and Update
Once the right data has been acquired, it then has to be integrated into your technology stack and kept up-to-date. We know that data quickly becomes obsolete (up to 40% of information/year) and must be continuously updated to ensure the utmost accuracy. This cycle can be very frustrating, and few companies succeed at finding a solution. As a result, marketers end up with a messy database that is unable to support growth. In order to resolve this challenge, RevenueBase provides your data in an easy-to-upload feed to facilitate smooth integration. To ensure accuracy, we provide our customers with a new feed every three months, providing new contacts, updating existing contacts, and flagging bad records. Managing your marketing database and ensuring accuracy and quality is really that simple!
When I founded RevenueBase, it was my hope to reimagine the B2B industry, and not only from a data technology standpoint. As a white cisgender male, I was oblivious to racial and gender discrimination, while at the same time benefiting from it. As a new CEO, I want to lead a company that pursues justice and does not perpetuate deep-rooted systemic injustices. I and this new venture commit to doing the work that needs to be done to recognize our privilege, understand our biases, and create a workplace that values and honors racial and gender diversity. We will regularly reflect on our success in meeting these goals and make all and any necessary course corrections.
As we launch this business, one of my goals is to build a passionate and committed team of professionals. We will work to ensure equity by:
RevenueBase is navigating its own course and we can’t wait to see where it takes us. In order to do this we need your support! Are you looking for a customer-centered, anti-racist, gender equity-driven business that offers a single B2B contact data solution with customized targeting and complete market coverage? We’d love to talk.
