You could say San Francisco-based Demandbase really listens to its customers. In fact, a customer conversation was a driving force behind the company's acquisition of a data science company, Spiderbook.
In a blog post, Demandbase CEO Chris Golec recalled hearing about Spiderbook from one of his customers, Host Analytics. The company was using the technology to identify the key accounts it wanted to target, and then plugging that data into Demandbase and using Demandbase solutions to attract, engage and convert those account.
"When Nick Ezzo, VP of demand generation at Host Analytics, observed, 'The combination of Demandbase and Spiderbook gives us a complete ABM platform,' we were immediately intrigued," Golec wrote.
Demandbase, provider of a B2B account-based marketing (ABM) platform, bought San Francisco-based Spiderbook yesterday. The deal gives the Demandbase platform machine learning and data science at scale to analyze billions of web pages and target accounts, Golec said.
ABM, arguably the hottest trend in digital marketing right now, is based on the fact that most B2B buying decisions are made by a group of people rather than one individual.
Spiderbook's Data Play
"Spiderbook has quickly become a household name within our marketing and sales teams," Golec wrote. "We were so impressed with the results generated from our Spiderbook campaigns, the scalability of the technology and the team, that it quickly became clear that their technology was a critical element of a complete ABM funnel."
Spiderbook automates the identification of companies that are likely to buy, including those that are already in-market for a company’s products and services. It then determines the right buyers within those accounts and uncovers buyer-specific insights to recommend personalized messages for sales.
"Your next B2B buyer can’t be on a generic assembly line with an 0.1 percent prospect-to-deal conversion rate," Spiderbook officials blogged. "Your next buyer belongs in a curated experience tailored to their specific business requirements and pain points. We have all been buyers, and we want to work with people and brands who know us, can anticipate our needs, and can help us achieve our goals and business objectives."
Spiderbook's technology reads billions of web pages, SEC filings, social posts and signals that quantify spend, business fit, trust and cultural match. It goes deeper into the sales funnel to consider if the individual buyers can be reached with a personalized message.
"The goal is to simulate the intuition and experience of a good strategic account manager in every way," Spiderbook officials blogged.
It automates practices such as knowing the right account to pursue, identifying the buying team at the account, having high-quality sales conversations as the deal progresses and leveraging existing relationships to get the deal signed.
Ezzo, the guy that tipped off Demandbase to Spiderbook, said Demandbase has "significantly improved" how his company attracts and engages its target accounts. Last year, Host Analytics tested Spiderbook to "identify the right accounts to target while delivering the right contacts and insights to the sales team to help close those accounts."
He called the combination of Demandbase and Spiderbook "a complete ABM platform.”
Alan Fletcher, CEO of Spiderbook, called Demandbase "the dominant force within account-based marketing."
"By joining Demandbase," he added, "we can now reach more B2B marketers and bring more value by having our solutions fully integrated."
Spiderbook was founded by former Oracle executives and a team of data scientists. Fletcher spent more than 20 years at Oracle in a variety of executive roles in consulting, development and support.
Co-founder Aman Naimat served as architect for IBM SuperSell Enterprise and Oracle CRM. He was the director of special projects for the CEO's office at Oracle and senior director of product management in the Oracle Database Group.
Spiderbook employees will be joining Demandbase’s team at the company’s headquarters in San Francisco.
Demandbase is hot off its third annual Marketing Innovation Conference, where Golec announced the platform now integrate with the Oracle Marketing Cloud.