B2B predictive marketing provider Radius is going big — as in targeting enterprise companies.
Radius CEO Darian Shirazi told CMSWire the San Francisco-based company is shifting from small- and medium-size businesses (SMBs) to B2B marketers of all sizes.
“We’ve been in the B2B space for about three years, but mostly targeted at SMB buyers,” said Shirazi, who was Facebook’s first intern.
“We’ve had great success with our SMB customers navigating through such a broad market. Through this process we started getting requests from customers asking when we are going to move up market to meet their additional marketing needs. Based on our experience and customer demand, we expanded our customer base making the best predictive marketing solutions available to all B2B marketers.”
Radius' upstream enterprise play speaks to a larger trend for B2B marketers investing into predictive solutions. Predictive marketing relies on data science and prior conversion data for better targeting.
Forrester Research refers to predictive analytics as the tool for marketers to predict where to apply resources to expose new opportunities or accelerate sales pipeline.
In its December 2015 report, “How Predictive Marketing Analytics Boosts B2B Business Performance," Forrester conducted an online survey of 150 respondents across industries in the US to evaluate their B2B marketing analytics practices.
- Top-performing companies are more likely to use predictive marketing analytics. Predictive marketers are 2.9 times more likely to report revenue growth at rates higher than the industry average.
- 78 percent of respondents believe marketing’s role has expanded from demand generation to deal acceleration. “Marketers need tools to guide decisions and actions in their more prominent role, and predictive marketing analytics tops their priority list,” Forrester reported. 49 percent of respondents said their firms currently use it, and an additional 40 percent plan to implement it in the next 12 months.
- Predictive marketers, according to Forrester, use predictive data to execute account-based marketing (ABM) strategies.
According to the International Data Corporation (IDC), the advanced and predictive analytics software marketer worldwide was worth $2.42 billion in 2014. It is expected to grow at the compound annual growth rate (CAGR)of 8.6 percent through 2019, the IDC reported.
Is predictive analytics a breeze? Not exactly, according to Shreesha Ramdas, CEO and co-founder of Strikedeck, a customer success company.
Ramdas cautioned in a CMSWire article this week that there are limitations to predictive analytics software. He cited the mismatch between the perspectives of the creator of a model, typically a data analyst/scientist or a statistician, and the user of a model, who is the average business user. But he stressed this should not dissuade potential users.
“Does this mean that predictive analytics do not work and should be discarded?” Ramdas asked. “Absolutely not.”
Radius remains a major investor in the predictive game. Where does Radius see itself joining the predictive party?
“Predictive marketing is the technology that allows you to learn the profiles of your best customers based on prior conversion data, to targeting the right prospects,” said Shirazi, whose company has grown from 60 employees in November 2014 to 136 today. “By combining intuitive software and data science, we leverage predictive analytics to help marketers find new opportunities.”
Radius’ predictive marketing software is powered by the Radius Business Graph, which draws on 50 billion external signals on more than 18 million US companies.
“This technology uses advanced algorithms to uncover the true value of customer relationship management and marketing automation systems to bridge the gap between data, customer insights and execution. Radius’ predictive marketing software also integrates with CRM, marketing automation, and ad platforms allowing a multi-channel approach to demand generation that’s measurable and interactive.”
“We put a great deal of effort on making sure the system can recognize which signals matter most,” he added. “With our company’s emphasis on quality, our data science team rebuilds our predictive marketing platform every two weeks so the data quality remains high.”