Socedo Achieves 3X Growth, as B2B Marketers Choose Social Data to Target the Right Buyers
SEATTLE, Jan. 4, 2017 /PRNewswire/ -- In 2016, Socedo grew its annual revenue by 3X and added industry leaders like Microsoft, Lenovo and MuleSoft to its customer base. This growth is fueled by a bigger trend: B2B marketers have finally realized that social data is a key ingredient to accelerating customer acquisition and are now integrating behavioral social data into their core systems of records and workflows.
Traditionally, B2B marketers focused on demand generation have relied on channels like email, digital advertising and events to drive leads and qualified opportunities for their sales teams. Yet, the performance of traditional channels like email is stagnating, and 75 to 90% of contacts in a B2B marketing database are dormant.
These days, every B2B marketing organization is looking for an edge from technology and data to drive growth. Yet, there is a clear gap between those goals and reality. A recent Econsultancy study found that just 3% of marketers feel they have the ability to act on insights derived from customer data, and more than half (54%) feel that their ability to take actions from data is poor.
Social media data provides a huge opportunity to reach potential buyers. In 2016, B2B marketers have finally started to integrate social data into their systems of record and use it to identify warm buyers and inform campaigns that target buyers in real-time.
This paradigm shift is best exemplified by Microsoft's acquisition of LinkedIn last summer. Microsoft was willing to pay $26.2 billion for LinkedIn because Microsoft sees the social network's data as the key ingredient to accelerating customer acquisition and production adoption. By the fall of 2016, tech giants – Salesforce and Alphabet – were catching on and considering Twitter as their next acquisition.
With increased visibility into the intent of buyers from behavioral social data, marketers are empowered to target the right buyers and reduce their cost of customer acquisition. "Social media and social selling can accelerate finding, managing and closing business. With Socedo, I can find and engage leads by picking up on buying signals from social networks, with the cost of attracting the very same customers at a fraction of the cost of paid search and other digital campaigns," says Matt Heinz, President of Heinz Marketing.
"Instead of looking at social media in a silo, or just a top-of-the-funnel channel, B2B marketers are now starting to use social insights to move leads through their pipeline. By integrating behavioral social data into their marketing automation system, they are able to gain significant efficiencies from their existing marketing programs and deliver more qualified leads to their sales teams," says Aseem Badshah, Socedo's CEO.
In July of 2016, Socedo released a new product – Lead Acceleration – to enable B2B marketers to add real-time behavioral social data into their marketing automation systems like Marketo and Eloqua. Marketers then utilize these social insights to identify warm leads in their database in real-time, and optimize their campaigns to increase conversions and revenue.
At this point, Socedo has gained some unique insights into how behavioral social data impacts traditional B2B demand generation:
- Behavioral social data helps marketers identify interested prospects earlier in a buying cycle, before they come to your website and before they open your emails
- For leads in Socedo's own database, leads who receive real-time emails following social actions are 5X as likely to become opportunities.
- For leads in Socedo's own database, socially engaged leads move 25% faster through the buying cycle and convert 22% higher compared to leads sourced from other channels.
- Real-time emails informed by relevant social actions average 45% open and 5.1 % click-through rates, which is about double the open rate and 5X the click-through rate of Socedo's typical nurture emails.
In the past year, Socedo grew rapidly to fulfill its mission to bring social leads to every business. Here are some key developments:
- Socedo has released integrations with leading marketing automaton platforms and CRMs including Marketo, Hubspot, Oracle Eloqua and Salesforce, to enable customers to sync new leads from social into their systems of record.
- Socedo released a new product – Lead Acceleration – to help B2B marketers identify warm leads in their existing database, create real-time targeted campaigns to improve conversions and revenue.
- Socedo has completely re-architected its lead discovery system to help customers find more leads faster.
- Socedo made key hires across Sales, Product Management and Engineering.
About Socedo:
Socedo is a B2B demand generations system for B2B marketers. Socedo empowers marketers to discover, engage and qualify prospects through social media to generate revenue at scale. Socedo's mission is to bring social leads to every business in the world. Socedo integrates with leading marketing automation and CRM systems including Marketo, Hubspot, Oracle Eloqua and Salesforce. Socedo is based in Seattle, WA. Socedo was founded in 2012 by Aseem Badshah and Kevin Yu and is backed by investors including TechStars, Vulcan Capital and Divergent Ventures. Learn more about Socedo at www.socedo.com
Media Contact:
Jingcong Zhao
206-512-8067 EXT: 117
[email protected]
SOURCE Socedo
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