Demostack is a rapidly growing SaaS company that provides a platform for sales demos and presentations. Their mission is to help sales teams deliver more compelling and effective presentations to potential customers. However, they faced a significant challenge when it came to executing their sales strategy. And it boiled down to bad data.
Uncovering hidden market potential with complete TAM visibility
For many companies, bad data and limited search criteria often obscure the complete view of their total addressable market (TAM). Unbeknown to their leadership team, this was also the case at Demostack.
“RevenueBase really opened our eyes to how large our total addressable market is,” shares Eric Portugal Welsh, Director of Revenue Operations at Demostack. “At the top of the funnel, we actually uncovered 4 times more accounts that matched our ideal customer profile and probably close to 10 times more relevant contacts than we thought we could reach.”
Bad data slowed down sales
“We were getting bounce rates as high as 30-40% on our outbound emails, which was really hurting our pipeline,” says Welsh. “Dealing with bad contact data got our marketing and sales team pretty frustrated, to the point that they considered turning the data feed off.”
This challenging situation was quickly turned around when Welsh started using Revenue-Data-as-a-Service. “As soon as we started operationalizing the RevenueBase data, email deliverability for business development outreach went from an average of 65% to 96%,” he shares.
According to Welsh, RevenueBase has also boosted sales productivity. BDRs used to spend half of their time researching prospects and creating lists in ZoomInfo. Now, this is all done by RevenueBase.
5x more demos scheduled
For the Demostack team, better email deliverability and cleaner data were just the start. “What really got everyone excited about RevenueBase were the open and response rates, and most importantly, how we were able to book five times more demos using this data,” says Welsh.
The ability of RevenueBase to hone in on the Demostack ideal customer profile has been key to these elevated conversion rates. “There are two pretty amazing things that RevenueBase is surfacing for us. It gives us unique data filters that we were never able to get anywhere else, which allow us to target companies that are right at the center of our ideal customer profile,” explains Welsh.
So how does it actually work?
Using RevenueBase, Demostack is able to identify SaaS companies that offer demos or product trials on their website. It also shows the Demostack team which companies have open job reqs in their sales department, so they can focus on companies that are growing their sales teams and need more demos to support this growth.
And while finding the ideal customer profile is a great start, RevenueBase goes a step further by helping the Demostack team find the right buyers. “There may be 50 or more titles that could match our buyer personas,” adds Welsh. “RevenueBase helps us identify these contacts and associate them with the right persona for us to target,” adds Welsh.
RevenueBase and ABM: a one-two punch
Account-based Marketing is a new initiative at Demostack, and RevenueBase plays an important role supporting this strategy. The marketing team has recently rolled out the Qualified tool to identify website visitors, and RevenueBase helps them find the right contacts within these accounts. The combination of behavioral data from Qualified with highly-specific account insights and accurate contact data from RevenueBase allows Demostack to prioritize high-probability prospects for personalized outreach.
“We have five different personas, and we segment our messaging to their specific use cases,” explains Welsh. “RevenueBase makes it really easy to target these personas, instead of having to filter by title or another standard field like we’d have to do with ZoomInfo or Clearbit.”
“If we took RevenueBase away we would have to contend with slower top of funnel creation and less pipeline generation from the biz dev and sales teams.”
One of the lessons learned that Welsh would like to share with other revenue operations leaders is the need to plan for the major impact that RevenueBase would have on their data. “RevenueBase is the single source of truth that fuels our pipeline creation. All of this data coming from RevenueBase started flowing into our entire marketing and sales tech stack, and we quickly realized we needed more API calls to support this data flow,” says Welsh.
They also had to update their attribution model. “We had a simple, single touch attribution model, so RevenueBase was showing as the lead source for almost all of our opportunities. We had to implement a multi-touch attribution model to understand what else was influencing these opportunities along the buying journey aside from the fact all the data was coming from RevenueBase,” explains Welsh.
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