October 31, 2016
As the name implies, Business-to-Business (B2B) marketing refers to the marketing actions taken by companies, for companies. It is a particular area of marketing, with its own rules and strategies, including tools that, while requiring greater specialization of actors, also allow for easier an easier evaluation of return on investment.
One of such tools is provided by CaliberMind, but this one is really unique and innovative. It is a marketing technology platform that, by harnessing the power of machine learning and human language analysis, is able to build a 360-degree psychographic persona, which can predict how a buyer will behave.
A $1.1 Million Seed
In fact, CaliberMind’s innovation and potential led to a $1.1 million seed round, backed by CEB Ventures (venture arm of CEB), Meritage Funds, PV Ventures and Crawley Ventures, among others. Pat Spenner, Director of Strategic Initiatives at CEB, justified this investment:
“CEB’s deep research into B2B customer buying behavior reveals that the most effective customer advocates cannot be identified by title, role and function. Rather, they fit specific psychographic and behavioral profiles. CaliberMind’s offering leverages customer psychographic data to uncover new insights about customer behavior. This enables marketers to target and tailor with a level of precision and effectiveness that simply has not been possible before now. The end result: higher sales conversion and higher quality deals.”
With the features mentioned above, this platform delivers great results to businesses, significantly improving the content of marketing and sales for B2B customers, making the sales cycle smaller by 20 percent to 30 percent.
Being the first solution in the market to use natural language understanding and machine learning to understand and predict the minds of buyers, giving marketing and sales teams a previously unparalleled insight on what (and how) to do, it is no surprise that CaliberMind has secured some strong clients on its roster, such as the Fortune 100 Citrix and NetApp.
How It Works
Another great aspect of CaliberMind’s platform is that it can be easily integrated with other services widely used by businesses, such as Salesforce, Marketo and Eloqua. In fact, this connection is important for how the platform works.
First, it pulls voice and email conversations from a CRM and crosses that with data from marketing automation tools. After this, the platform searches the web for more information on a buyer – here, social media footprints come in handy. Using natural language processing, the platform proceeds to analyzing and map a company’s entire marketing library, in order to prescribe the best strategy to fit a given buyer.
Raviv Turner, CaliberMind’s CEO and co-founder, explained how his company’s platform is unique and how it can help with conversion:
“Most predictive marketing tools are designed to generate leads but our customers do not have a leads problem, they have a conversion problem. Using CaliberMind, they are seeing results today in terms of increased engagement and demand, and ultimately more sales. This is where CaliberMind excels – at the mid to bottom of the funnel.”
CaliberMind, recently named by G-Startup as one of the 25 Most Innovative Startups Worldwide, will use this round of funding to expand its data science team and accelerate sales growth. The company’s goal is to give businesses a way to easily improve their B2B marketing strategy, and results show they are on the good path to do so.
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