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» » Chris Golec Grows Demandbase B2B Account-Based Marketing Platform

Chris Golec Grows Demandbase B2B Account-Based Marketing Platform

14-06-2017, 02:48
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Chris Golec Grows Demandbase B2B Account-Based Marketing Platform

 

Account-based marketing (ABM), or the practice of marketing directly to current and prospective customer companies, is the hottest new thing in marketing technology. Yet for Chris Golec it’s something he’s been working for most of his career.  He’s the founder and CEO of Demandbase, a leader in the white-hot ABM martech space, as evidenced by their recent announcement of $65 million in new funding from existing investor Sageview Capital along with new investor Silver Lake Waterman, Silver Lake’s late-stage growth capital fund. The round also includes existing investors Adobe Systems, Altos Ventures, Greenspring Associates, Scale Venture Partners, Sigma Partners and Split Rock Partners.

"The reality is, account-based marketing has been done for dozens of years. There just wasn't the technology available to do it at scale. It's very exciting for us to have pioneered the category to become the largest and leading ABM provider,” says Golec.

Golec says he sees countless companies whose revenue plans are at risk because they aren’t spending the right amount in the right places. "One of the biggest eye-openers for customers is when we show them their web traffic by industry. They're often shocked to see that only ten percent of their traffic is from companies that they can sell to and another twenty-five percent of their traffic are bots. They've been marketing over the last ten years for volume, paying for clicks, not sales,” says Golec.

Success for B2B digital marketing is not measured by ad impressions or click-through traffic. It’s measured by close rates, deal size and pipeline generation. The real ROI is in the sales activity that is sitting in a sales organization’s CRM system. Demandbase technology joins information from advertising and website traffic and connects it to CRM systems and measures activity at the account level so sales and marketing organizations know where they should focus their energy and resources.

"We created our own advertising platform, to fix the broken ineffectiveness of bringing the right accounts to your website. Our vision from the beginning was a supply chain solution for marketers,” Says Golec.

Golec and his team started the business with identity technology that's tied to network IP addresses and on accounts versus people, which was the backbone from which everything grew. "I didn't want to build a data company. I wanted to build a company with solutions that solve big problems with underlying data as the secret sauce. We built a whole platform to help companies target and advertise to the right companies, personalize web experiences to those businesses when they come in, and then turn that engagement on your website into sales activity,” says Golec.
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