How Verizon uses Intricately to Improve Lead to Close Time

Topline Metrics

15% increase in ACV within 2 quarters of new systems*

1..5 hours/day saved per rep in qualification

50% decrease in new rep ramp time.

Background

Verizon Digital Media Services is online video streaming and content delivery network (CDN). They power 5% of the entire internet - that's a lot of demand!

Problem

Reps were wasting hours talking to unlikely buyers.

When Kareem Ghanie joined VDMS as head of Sales Operations, he immediately noticed the organization's biggest challenge: sales reps were losing time talking to the wrong leads. There were too many dead-end conversations clogging their pipeline.

Consider this additional impact -  weekly pipeline meetings with managers and executives were wasted on dead-end leads.

“Instead of wasting time to talk to prospects that weren’t going to buy, representatives needed to focus on the ones that could make a big impact,” he says.

The art of lead qualification is disqualification.

While marketing consistently provided leads, there wasn’t a solution for determining fit. Leads were captured through any creative means possible. There was little distinction other than the email address.

It’s surprising considering the size of Verizon’s business, but it highlights the most common challenge across organizations today:

In today’s increasingly digital world, the data we’ve been relying on is failing us. Physical attributes like company size and # of employees don’t tell us how much digital demand the lead may have.

When marketing relies on these attributes in their system, they’re not saving reps any time. The reps still have to call the prospect to determine fit.

“Sales and marketing weren’t on the same page,” explains Ghanie. “Assigning leads to reps was a slow, manual process.” All of the attention was spent on the handoff sifting through leads that had no distinction from one another.

Like any good sales ops leader, Kareem knew where to focus his attention.

Solution

Lead assignment based on qualification with Intricately Spend Estimates

“Instead of manually qualifying leads, we use Spend data to automatically qualify the lead for fit and then we automatically assign the leads within Salesforce.”

Our spend data gave Verizon a sense of CDN demand potential for each lead.

Since our spend estimates are based on application use cases and usage, the higher the CDN demand, the higher the spend.

It’s a powerful metric because it represents the digital demand of the business, which doesn’t correlate with the physical size of the company.

Imagine the hot startup who has ten employees, but is taking on thousands of users a week - Intricately spend will spot this opportunity 100% of the time.

To create his automated system, he relies on our Salesforce integration to sync Spend data, category details, and geographic data directly into fields within each lead record.

The Salesforce integration ensures each lead is automatically updated with the latest data and routed appropriately.

Results

Less time qualifying, more time closing.

“Intricately lets us qualify hundreds of customers in real-time, without wasting rep time.”

As a result, reps are saving over an hour a day because they’re not bouncing around websites and cold-calling leads that were supposed to be qualified already.

With Intricately qualifying in real-time, reps could focus on strategizing their sell and communicating with prospects. By improving lead qualification, Verizon’s sales org experienced a 20% decrease in time to close.

Additionally, Kareem has witnessed a 50% decrease in ramp time for new reps.

“Because of dynamic qualification, we can provide any new rep with a target accounts list on day one.” Reps can also learn how to position Verizon more efficiently after they review our cloud footprint data, which includes spend data, technologies used, and the use cases for all the technologies.

“Our sales process would be impossible without Intricately,” Kareem continues. “It lets us access data we couldn’t get anywhere else, and it allows our reps to spend more time talking to right prospects that become our best customers."

Conclusion

If you’re frustrated with quality of leads in any step of the funnel, consider modernizing your data inputs with Intricately spend. It’s enabled Verizon to spot more hidden opportunities and avoid dead-end leads, which has saved more than just the reps time.

How will cloud data change your marketing?

Target better accounts, qualify leads, and make informed decisions
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