rainking case study for spectrum.final
TRANSCRIPT
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S T A R T H E R E
A Case Study in Transformative Marketing
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Mosaic-RainKing Case Study Overview
Investment Story – The Highlights•Superlative growth story: 30% growth with 30% EBITDA margins with little to no investment in marketing•Attractive Total Addressable Market + Strong Product-Market Fit•Compelling Market Trends: Surge of investment in martech platforms/solutions, rise of big data and analytics, increased adoption of SaaS-based products.•Undermanaged Asset: Significant gains to be realized by improving sales management, sales operations and the research process and hiring for key leadership positions, including a VP of Marketing
The Marketing OpportunityIn lieu of hiring a full-time CMO or VP of Marketing, Stoney brought on Mosaic in Dec 2015 to define a vision and roadmap for scaling marketing at RainKing. The plan centered around addressing 5 key marketing challenges:
“We were losing ground every day to our
competitors and, to me, one the biggest differences
between us and them was the fact that our
competitors were investing heavily in marketing
and we were not. That needed to change before it
became too late to matter.”
- John Stanfill, CEO, RainKing
Refreshing the Brand
Optimizing the Funnel
Improving Operations
Focus & Growth
Generating Demand
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10/2015 – Spectrum acquires RainKing, installs John Stanfill as CEO
6/2016 – Mosaic leads effort to add first marketing hire.
9/2016 – New brand and website launch
12/2016 – Record all-time sales for RainKing 46% increase y/y
8/2017 –DiscoverOrg acquires RainKing3/2017 – 100%
increase in y/y sales
A Quick Timeline
12/2015 – Mosaic engagement begins.
Reve
nue
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The Marketing Challenges
Playing in a relatively immature yet increasingly active space of the market, RainKing needed the backing of a strong brand and a compelling narrative to attract, engage, and ultimately win over its ideal buyer.
Brand Refresh
Previous top of the funnel volume had plateaued and existing organic and paid efforts were largely ineffective. RainKing needed a new, sustainable source of high quality prospects to help it achieve the desired growth and scale that it hoped to achieve within a 3-5 year time period.
Demand Gen
RainKing had little visibility into its inbound funnel, making it very difficult to both accurately track and report against inbound efforts as well as diagnose where breakdowns and “leaks” were occurring. Inbound Funnel
While RainKing had already made strategic investments to strengthen its martech stack, it was not optimizing the data, platforms, or processes to extract value from these technologies to maximize ROI . Marketing Operations
Focus and GrowthScaling a marketing organization and strategy up from the ground is hard for any high growth organization focused on the bottom line, but is especially challenging at a mid-stage, PE-backed company like RainKing is striving to maintain EBITDA margins while also working very hard to deliver big wins upfront.
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W R I T E A T I T L E I N T H I S S E C T I O N
Our Promise to ourCustomers"Success seems to be connected with
action. Successful people keep moving. They make mistakes, but they don't quit.”— Conrad Hilton
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Marketing Challenge: Branding
Playing in a relatively immature yet increasingly active space of the market, RainKing needed the backing of a strong brand and a compelling narrative to attract, engage, and ultimately win over its ideal buyer.
Brand Refresh
Professional, sophisticated, authoritative Created distinction between data provider and
intelligence provider, helping to justify price point Tagline supported efforts to define new category Compelling brand story built on value and trust
Why did RainKing exist?Who did RainKing serve?What problems did RainKing solve better than
anyone else? Resonated across stakeholders- prospects,
customers, and employees Consistency across channels ,starting with website
Cartoonish, immature, unprofessional Mistakenly placed RainKing in the “data provider”
category, selling the solution shortLacked compelling “story” to support the brand“One-size-fits-all,” feature-driven sales approachLack of brand consistency across channels
From To
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Marketing Challenge: Demand Generation
Previous top of the funnel volume had plateaued and existing organic and paid efforts were largely ineffective and were not reaching the stakeholders and influencers integral to the purchase decision. RainKing needed a new, sustainable source of high quality prospects to help it achieve the desired growth and scale that it hoped to achieve within a 3-5 year time period.
Demand Gen
Content Marketing EngineEstablished RK as authority in sales
and marketing intelligence, incorporating research data where
available
SEO Audit & Strategy3-part strategy designed to
increase volume and quality of inbound website traffic
Paid Marketing PlanTest and learn strategy focused on
driving highly qualified leads to optimized conversion experiences
Social Media MarketingOn-brand efforts (focus on LinkedIn) to increase brand
awareness and excitement around sales/marketing intelligence as a
newer category.
Event MarketingMore formalized event marketing
strategy which allowed RainKing to develop deeper relationships with
key influencers
Demand Generation Tactics Redesigned Website
• Optimized landing pages that drive action and form fills• User friendly navigation – mindful of different personas, use cases, etc. • Strong CTAs present throughout, driving lead to conversion rates• Presents brand story and value proposition clearly and concisely, no digging
or detective work
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Demand Generation Results
4.3Xreturn
on paid search spend
4.3Xreturn
on paid search spend
321% increase
in traffic from social media
321% increase
in traffic from social media
Paid Search
CRO
Total Site Traffic
Leads
Social
86% increase
in lead conversion rates
86% increase
in lead conversion rates
Organic Search
153%increase of unique
website visitors
153%increase of unique
website visitors
376%increase in the
number of leads
376%increase in the
number of leads
131%increase in organic
search traffic
131%increase in organic
search traffic
Our demand generation strategy worked to not only drive increased traffic to the newly designed website….
…but the traffic we were attracting were also converting into high quality leads, ultimately impacting RainKing’s bottom line.
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Marketing Challenge: Funnel Management
• Improve lead routing based lead priority and rep performance
• Implement “Hot transfer process” from BDR to rep
• Build new, highly targeted marketing nurture workflows
RainKing had little visibility into its inbound funnel, making it very difficult to both accurately track and report against inbound efforts as well as diagnose where breakdowns and “leaks” were occurring.
Inbound Funnel
Shorter Sales Cycles96%increase
in deals opened and won in the same month
Shorter Sales Cycles96%increase
in deals opened and won in the same month
Higher Deal Values15%increase
in average contract value (ACV)
Higher Deal Values15%increase
in average contract value (ACV)
1 Map out the current inbound flow and establish baseline metrics to highlight areas of opportunity.
Identify and implement tactics to improve the process. 2
3 Determine impact and quantify results.
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Dashboard
• Lifecycle Metrics
•Demos, Leads, Opps, NPS etc..
• Deal Metrics
•Total deals, inbound vs outbound,
pipeline growth
• Conversion Metrics
•Lead, opp, and deal
conversion rates
• Key Channel Metrics
•Paid, Organic, Email
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Marketing Challenge: Marketing Operations
• Ineffective use of the existing sales and marketing technology stack
was not allowing for effective lead management
•Lack of diligence or consistency around marketing reports or
dashboard
• Stale and inaccurate SFDC data was making it hard to effectively
market to our prospects
• Haphazard marketing efforts were causing poor email deliverability
and increasing opt outs and spam risk
• Inefficient work management process was not optimizing an already
lean marketing team with limited resources
From To
• A well-planned, strategically designed marketing automation platform that
was effectively integrated with SFDC•Increased inbound workflows from 1 to 15+, enabling a more targeted approach
•Improved landing page experience to improve conversion rates• Implemented lead scoring for 100% of leads to drive lead prioritization, routing, and management strategy
• Consistent, insightful, accurate reporting across platforms, including GA
• Improved data quality across hundreds of thousands of prospect records
and renewed rigor around data hygiene best practices
• More disciplined email approach that improved deliverability from below
80% to 99%
• A highly productive, agile marketing team utilizing 2 week sprint planning
process to strategically prioritize and manage a large workload
While RainKing had already made strategic investments to strengthen its martech stack, it was not optimizing the data, platforms, or processes to extract value from these technologies to maximize ROI .
Marketing Operations
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Marketing Challenge: Focus and Growth
• Who should be my first marketing hire?
• What should my marketing team look like, given my company’s stage and size?
• Should I build my marketing team with full-time employees or part-time contractors?
• When does it make sense to invest in a full-time CMO?
• How do I strengthen the marketing team I inherited/already have in place?
• How do I find the right CMO or marketing leadership for my company?
•How do I keep the momentum going through the hiring process and other periods of transition?
• What marketing tactics and trends should we focus on and prioritize for quick ROI wins and longer-term sustained growth?
• How do I scale marketing efforts effectively and efficiently?
•How do I present the marketing business case to my board, investors, and/or executive peers?
• How do I track results and measure success/return on my marketing investment?
Building the Team
Driving Results
Telling the Story
Focus and Growth Scaling a marketing organization from the ground is hard for any high growth organization, but is especially challenging at a mid-stage, PE-backed company striving to maintain EBITDA while also working very hard to deliver big wins upfront.
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W R I T E A T I T L E I N T H I S S E C T I O N
Our Promise to ourCustomers"Success seems to be connected with
action. Successful people keep moving. They make mistakes, but they don't quit.”— Conrad Hilton
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Leadership Team
CO - FO U N D ER
Ben Scandlen
A proven marketing executive that has driven growth for
industry-leading companies through demand generation
strategies, strategic communications and exceptional brand
development. His leadership and expertise across the
marketing life-cycle creates marketing that measurably
delivers on growth objectives and brand ideals. Prior to
Mosiac, Ben introduced and grew digital marketing and led
successful marketing teams at companies across the
education, financial services, and airline sectors.
CO - FO U N D ER
Neeti Patel
An experienced marketing leader and product manager that has
worked with big brands and mid-sized, high growth companies
alike to create value through an unwavering focus on customer
experience at every stage of the lifecycle. From optimizing lead
conversion to reducing churn, Neeti has a proven track record for
delivering quick wins while also strategically laying the foundation
for long-term, profitable growth. Prior to Mosiac, Neeti led
marketing and product management at companies including
American Express and Hilton. She holds an MBA from Harvard
Business School and a BS, cum laude, from New York University’s
Stern School of Business.