CA Veracode Uses Rekener to Power Coordinated ABM Campaigns
Veracode overcame huge data and analytics challenges to find accounts that will turn into needle-moving customers. They did this on the Rekener platform. Using Rekener, Veracode mapped out their true sales motion and found the accounts that are best targets to land and expand into great customers through ABM and account targeting.
Veracode built an Ideal Customer Profile and used it to segment their large account base. They grouped accounts into tiers based on fit, and ran specific marketing and sales plays at these account tiers. This allowed Veracode to get a massive return on sales and marketing by spending resources on the best accounts. And by using the Rekener platform, Veracode accomplished all this in just weeks, without having to hire an army of analysts or spend hundreds of thousands of dollars to build a BI environment.
Read on to find out how they did it.
VP of Marketing Ruben Varela: "Rekener was able to find accounts that will really move the needle for our marketing and sales teams. Rekener's analysis truly matched our sales motion."
Ruben Varela - VP of Marketing
Melanie Stec - Marketing & Sales Analytics
Laura Smith - Regional Marketing
Lisa Quinby - Director of Field Marketing
Robert Bentley - VP of Inside Sales
Veracode divides their sales team into 4 segments: Key Accounts, Field Sales, Enterprise Sales, and Mid-Market. Veracode wanted to run an Account Based Marketing (ABM) program to coordinate activities between their Marketing and Sales teams. They chose to start this ABM program with their Enterprise sales team.
Veracode wanted to build an Ideal Customer Profile (ICP) to identify which types of companies are best for their Enterprise team to target. Then, they wanted to build tiered account lists, so the Marketing team could run different levels of ABM with the goal of driving demand inside these accounts.
Building an Ideal Customer Profile can be a very challenging task to undertake. There are a few reasons.
Teams are siloed. It's hard to get everyone aligned on a strategy when sales and marketing are both moving fast, and possibly in different directions.
Data is siloed. Salesforce holds all the valuable sales data, but Marketo has the data about which accounts are filling in forms and hitting your website.
Choosing and calculating the right metrics is hard. Systems like Salesforce make it difficult to organize your data in a way that lets you see which accounts are most productive over the long-term.
Veracode worked with the Rekener Platform and Rekener Strategic BizOps Services team, to build their ICP and tier their accounts for ABM programs. Here’s how Veracode got through the three traditional blockers.
Siloed Teams: Veracode has amazing collaboration between sales and marketing, led by VP of Marketing, Ruben Varela. Ruben understands that for the company to continue its growth, they need to collaborate. So, he had stakeholders from demand generation, analytics, and sales all involved in the analysis and the execution of the program
Siloed Data: Veracode got through the issue of siloed data by using Rekener. Rekener is a Customer Data Platform. It brings together data from go-to-market systems including Salesforce, Marketo, product usage systems and others to create a 360 degree view of accounts, their behavior and productivity.
Choosing and calculating metrics: The Rekener team has worked with dozens of best-in-class companies to build analysis that helps them grow. Rekener was able to recommend KPI’s that show how accounts both land and expand in Veracode’s sales motion to produce the biggest benefit to the business. And the Rekener platform stores and calculates data in a way that allowed Veracode to build a “super-metric” that incorporated both landing efficiency as well as expansion potential and efficiency.
Segmentation and ABM Campaigns:
Working with Rekener, the Veracode team put together a segmentation analysis of their Enterprise accounts, to find an Ideal Customer Profile that had the best Land and Expand value. The formula they built in Rekener to calculate Land and Expand value looked like this:
Veracode needed a platform like Rekener to produce this type of metric, as they needed an ability to see a 360-degree view of each account. The 360-degree view allowed them to assess each account in terms of both landing and then expanding. And the Rekener Platform also allowed Veracode to segment different types of accounts in order to understand which segments perform best.
Veracode sliced their Enterprise accounts using the Land and Expand metric to see which types of companies (industries, company sizes, headquarters vs. branches, etc) were most productive.
Then, Veracode was able to produce target account lists inside of Rekener. They did this by finding accounts that
Were not customers
Fit well into the Ideal Customer Profile
Had high levels of productive marketing activity in Marketo (ie, form submissions and key web page visits)
Veracode uses the target account lists to run integrated marketing and sales plays, where the marketing team invests its energy to warm up the very best accounts, and the enterprise sales team then engages that account to close a deal.
According to Ruben, “the Rekener Platform was able to pull together and analyze our data in a way that really reflected our business process. And the Rekener services team understood our business needs better than any other vendor - they were able to make very useful recommendations that moved the analysis forward.”
About CA Veracode:
CA Veracode delivers the application security solutions and services today’s software-driven world requires. CA Veracode’s unified platform assesses and improves the security of applications from inception through production so that businesses can confidently innovate with the web and mobile applications they build, buy and assemble as well as the components they integrate into their environments. CA Veracode is part of CA Technologies. For this case study, we referred to CA Veracode as Veracode.
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Greg is COO and Co-Founder at Rekener. Greg’s career has been focused on using data to grow recurring revenue businesses. Before joining Rekener, he served as VP of Operations at ZeroTurnaround, where he built its strategy and operations practice, ran its customer success and renewals function, helped to grow and coach its high-velocity sales organization, and optimize its marketing efforts. Prior to that, he ran the BizOps and marketing functions for the AVOKE call center analytics business, a SaaS company within BBN Technologies. He got his start using data to improve sales and marketing efforts while at AppNeta.
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