Mark Feldman, Co-founder of RevenueBase talks about the platform’s inception and growth journey while diving into a few top data management best practices that can benefit B2B teams:
Welcome to this SalesTechStar chat Mark, tell us about RevenueBase and what inspired the platform?
After being both the B2B data vendor and a customer, I realized there had to be a better way!
I spent the earlier part of my career building NetProspex, which was one of the first B2B email list vendors. We did a great job building the company and helping establish outbound demand generation as a viable new sales and marketing channel. The company was acquired by Dun & Bradstreet, and powers Hoovers and all of their B2B data offerings.
After spending time on the other side of the table buying data, it became clear why people don’t love (let alone like) their data vendors and see them as a necessary evil. Current data vendor offerings lead to a “spray & pray” approach (providing as much information and advertising as possible without giving a clear target or strategy) to outbound that doesn’t work anymore.
My cofounder and I decided to start a B2B data company that makes it easier for companies to access buyers who need their unique offering. We do this by providing information other vendors don’t, such as customer-specific insights, hard-to-find custom data, up-to-date role information (what do they actually do), and technographics. As a result, RevenueBase customers see a 5x increase in contact rates, engagement, appointments booked, and revenue.
What are some of the initial challenges the team faced when launching? What takeaways would you share for other newer teams entering the market with new innovations based on this?
The marketspace is crowded with poor quality cheap data providers and there is a skepticism during the initial contact. However, once clients see the product and try RevenueBase data, they feel the immediate positive impact in engagement and revenue growth.
One of our key takeaways we’d suggest for other players looking to get into the space is to regularly check data and always put the customer first – if they need something that you don’t already have, find a way to get it. Every good business owner knows that the key to success is stellar customer service and we’ve put an emphasis on that at RevenueBase.
We’d love to hear about your recent Seed round and what immediate / near-term plans are in mind for the growth of the RevenueBase platform?
RevenueBase raised its Series Seed funding round from a supportive group of investors led by Kent Bennett at Bessemer Venture Partners. We are thrilled about what this investment means for our customers as we accelerate our plans in several key areas, such as investing into data quality, supportive resources like best practices and templates, and self-service web applications.
How do you feel marketers and salespeople today can create better processes to help drive improved data cleaning/data management systems? In what ways do you feel martech/salestech systems should be optimized to enable this?
Most B2B contact vendors sell “out of the box” lists without custom insights about companies or professionals. In order to successfully engage, marketers and salespeople need to have the most accurate up to date data with the intelligence to have personalized messaging and discussion points that resonate with buyers.
A few thoughts on the top trends you feel will shape the B2B Sales and SalesTech marketplace through the rest of 2022?
“The Great Resignation” has led to sales and marketing contact data going bad at a much faster rate than we’ve ever seen before. B2B business who rely on this data to reach new buyers will need to double down on their investments in sourcing contacts as well as keeping their current data up to date.
Some last thoughts, takeaways, before we wrap up!
To cut through all of the clutter out there and reach buyers, I think it’s really critical to get away from the “spray and pray” mentality that we’ve all become accustomed to. It turns buyers off. I strongly encourage salespeople to reach out to buyers individually after spending a few minutes on the web learning about their prospects’ pain points and coming up with some ways that your offering can help them be more successful.
RevenueBase is a next generation B2B data company that provides custom customer-specific insights so that revenue teams can reach and engage with buyers that meet their ideal customer profile.
RevenueBase was officially launched in the Spring of 2021, it was founded on the principle that the B2B contact data market is incredibly flawed. Companies have significant trouble finding and engaging with people in their ideal customer profile. The founders of RevenueBase, Mark Feldman and Milenko Beslic, saw an opportunity to create a solution that not only provides essential contact information, but also enables strong engagement.
Mark Feldman is Co-founder of RevenueBase
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