Verified case study

Sales Accepted Leads increase 85% for SAAS product

by Sam Levan | 22 October 2016

Sales Accepted Leads increase 85% for SAAS product

Client testimonial

"Our sales team LOVES having MadKudu's lead scoring in Salesforce - it's changed the way they work and means they can now prioritize trial leads based on potential value and likelihood to convert, which increases their efficiency."

Simon Whittick, VP Marketing, Geckoboard

 

Executive summary

One of the biggest challenges for Software as a Service (SAAS) companies is customer acquisition.  

Connecting with potential customers is a resource-intensive process. Sales teams need to focus their effort on identifying and nurturing the leads that are most likely to convert.

Madkudu helped Geckoboard solve this challenge using predictive analytics.

Geckoboard were able to discover non-obvious leads and work through fewer, higher quality Marketing Qualified Leads (MQLs) faster.

As a result, Sales Accepted Leads (SALS) increased by 85%.

 

 

Client profile

Client profile

Geckoboard is a successful SaaS company based in London, UK. They offer KPI dashboard software for businesses.

Geckoboard's software allows customers to build live TV dashboards quickly. By visualizing live key metrics and goals on TVs around the office teams more effectively prioritize actions to improve key metrics and ultimately drive growth.

 Funded by top-tier investors like 500 Startups and with an impressive customer list that includes Airbnb and Marketo, Geckoboard is becoming the go-to live TV dashboard solution for focusing online businesses.

 

Challenge

 A great product generates lots of trial customers – how can sales teams keep up?

Like all successful SaaS products, Geckoboard understands that marketing automation and product design isn’t enough to help customers achieve their goals.

Real customers need help understanding how to integrate dashboards into their operations, which is time intensive for sales and customer success teams.

Thousands of trial customers every month make it hard for sales and customer success teams to engage all of them. This creates two challenges: 

  1. Reps overlook qualified leads who don’t fit obvious profiles.
  2. Reps spend too much time on leads who will never convert.

 

Who is likely to convert? Who has budget? Who is ready to buy now?

Getting answers to these questions by searching LinkedIn, Salesforce, and marketing databases can consume a lot of sales’ time - time which is better spent connecting with customers.

 

Solution

Intelligent lead scoring using predictive analytics

Geckoboard turned to MadKudu for support. MadKudu specialize in accelerating SaaS sales using predictive analytics.

Pulling Geckoboard's data from Mixpanel and Salesforce into MadKudu revealed the user characteristics and activities that most closely correlated with significant customer lifecycle events like buying, upselling or churning. 

A study of the Geckoboard's customer data helped build a predictive model of the highest potential value customers based on characteristics like industry, region, and title. 

 

Customer's in-app behavior leads to further insight

Data science also reviewed critical conversion indicators in the customer lifecycle, including:

  • Connecting a data source to a dashboard
  • The absolute number of dashboards created by customers
  • Customers who changed the dashboard theme

 

MadKudu's software built predictive models based on these key customer events in the application. 

The models predict the following for every new trial and existing customer:

  • The leads with highest potential to become Geckoboard customers
  • Leads most likely to buy now based on behavior.
  • The best upsell
  • Customers at the highest risk of churn.

 

You can find out more about how MadKudu works on their website.

 

Impact

Sales Accepted Leads (SALs) increased by an impressive 85% 

MadKudu's predictive models lead to an almost instant increase in productivity.

With the predictive model results in Salesforce, Slack, and Intercom the entire sales, customer success, and marketing teams instantly had access to the enriched customer profile data.

 

A win-win that aligns sales and marketing

The enriched customer data allowed the sales team to discover non-obvious leads and work through fewer, higher quality Marketing Qualified Leads (MQLs) faster.

The sales team increased Sales Accepted Leads (SALs) by 85%.

Sales now focus on talking to the right customers and solving their problems instead of digging through LinkedIn and Salesforce.

 

user

Sam Levan

Sam Levan is the co-founder of MadKudu.