A Fast Customer Favorite, We Revamped Our Account Scoring Solution with New Visualizations and Dynamic Tiering to Remove Grunt Work and Guess Work from Territory Planning Processes
We're excited to announce newly added capabilities to our Account Scoring solution, designed to help sales teams prioritize best-fit accounts and ensure balanced territories.
New Account Scoring visualizations leverage data science to help organizations surface accounts that best fit their Ideal Customer Profile (ICP), and the Dynamic Tiering feature ensures sales leaders can distribute accounts based on quality as well as quantity.
This new functionality uniquely solves a persistent source of friction within sales teams -- inequitable territories. Given the history of field sales, territory design has historically relied on static geographic segmentation; however, these predefined boundaries don't adapt with an organization's goals and lead to misallocation of valuable resources.
"With DataFox's Account Scoring tool, we're evaluating the quality of every account on an ongoing basis and creating tiers for our account selection process. Today, we're not building territories based on square footage or landscape covered. We're basing it on the distribution of Tier 1 accounts." -Laurie Schrager, VP of Global Revenue Operations at Tealium
Our Account Scoring solution, launched in February 2018, is a fast favorite among our customers. The controllable, transparent approach to Account Scoring does not exist anywhere else on the market. Built on a robust foundation of AI-sourced, human-verified company data as well as real-time Growth Signals, business development leaders can customize their Account Scoring algorithm on an ongoing basis as the organization's strategic initiatives evolve over time.
Our Account Scoring, the industry's most data-driven solution for account selection and prioritization, incorporates the following types of data:
DataFox firmographic data, such as location, headcount, tech stack, industry, and revenue
DataFox Growth Signals, including 68 types of customizable, real-time indicators of an organization's changing conditions and needs such as hiring trends, product launches, conference sponsorships, and funding information
Users' proprietary data, such as custom CRM inputs or third-party data
Based on customer feedback, the new capabilities of our Account Scoring solution help business development teams maximize efficiency by systematically balancing sales territories. The newly added capabilities include the following:
Visualizations Enable Control and Transparency of Scores
A common challenge with any scoring solution is establishing trust in the effectiveness of the score; therefore, implementation of legacy scoring solutions can be risky, as sales and marketing teams often are required to implement a score and then wait until a full sales cycle has completed in order to analyze the results.
We solve this challenge by making scoring criteria immediately transparent to end-users to build trust and validate scoring model effectiveness in surfacing best-fit accounts. New visualizations allow administrators to instantly view the distribution of scores across all companies, compare sample groups, and make refinements to ensure scores support current corporate initiatives.
Dynamic Tiering Ensures Balanced Territories
Legacy approaches to account tiering are generally static (defined annually or quarterly) and/or subjective (left to a given sales representative's discretion on a case-by-case basis), leading to inefficiencies in sales resource utilization.
Since our Account Score is based on dynamic criteria like Growth Signals, it is constantly updating based on changing conditions with an organization. Dynamic Tiering takes this a step further by systematically grouping high-scoring accounts into tiers based on volume or percentile and constantly updating those tiers based on new developments. For example, an account could move into a top tier if the company hired a CMO, purchased a new CRM system, or raised a round of funding in the past three months. This enables sales and operations managers to distribute top tier accounts equally to sales representatives, providing each team member equal opportunity to achieve their quota.
"We created DataFox with the goal of helping our customers make the best possible business decisions by putting the best possible data at their fingertips. We started by building a foundation of premium company intelligence and found that the smartest sales and marketing executives want to be sure that their team's time and campaign dollars are all being focused on the best opportunities at the right accounts. Our company scoring and tiering empowers executives to steer their addressable market expansion, sharpen sales representatives' focus, and drive accountability based on transparently equitable territories." -Mike Dorsey, Co-Founder and COO at DataFox
DataFox helps sales, marketing, and investing teams find their best-fit accounts and act on them. DataFox's machine learning algorithms and human analysts verify proprietary insights on millions of businesses to provide robust company data, signals and scoring to surface prospects with the highest likelihood of becoming, long-term, high value customers.
Headquartered in San Francisco, CA, DataFox is backed by Goldman Sachs, Green Visor, Google Ventures, and Slack, and used by high-growth startups and Fortune 500 companies alike, examples include UPS, Visa, Twilio, and Zendesk.
To learn more, visit http://www.datafox.com.
For career opportunities, visit http://www.datafox.com/company/careers.