Press Release: New Relic Boosts Win Rates by Using Infer to Model Nearly 10 Million Monthly Marketing Automation Signals and Uncover Prospects Who Will Convert within Three Weeks
Infer Inc., a leading provider of predictive applications that help companies win more customers, today announced the general availability of its behavior scoring solution, which helps sales and marketing teams predict which prospects will convert in the next three weeks. Infer is the first company to extensively mine the full spectrum of detailed activity data that is summarized in marketing automation platforms, and use advanced machine learning and predictive analytics to produce highly accurate behavior scores. Already delivering results for several rapidly growing businesses like AdRoll, Chef and New Relic, Infer has generated over 30 million behavior scores for New Relic alone by modeling 47 million activity records.
Traditional lead scoring uses manually assigned, additive point values, and doesn’t calculate the specific combination, concentration or recency of a lead’s complete activity trail. Because these marketing automation scores are based on guesswork and only the most recent lead activities, they can be deceptive and are rarely trusted by sales reps. In contrast to these tools as well as behavioral models from other predictive vendors, Infer’s new solution uses deep hooks into systems like Marketo and Eloqua to model and exploit every snapshot of a prospect’s behavior. As a result, Infer can automatically predict not only which prospects sales and marketing should invest time and effort into, but precisely when the time is right to do so. This approach complements Infer’s fit scoring, which analyzes valuable signals about an individual and the organization they work for – such as relevant job postings, patent filings, social presence, and even the technology vendors they use – to determine their fit for a specific product.
“We’re taking a truly groundbreaking approach to helping companies capture more revenue opportunity by identifying their best prospects and recommending the exact timeframe to engage with them,” said Vik Singh, co-founder and CEO of Infer. “We’ve overcome major shortcomings in today’s rigidly built marketing automation systems, including their approach of rolling up a broad set of behaviors rather than snapshotting each step in an activity trail. Thanks to our highly scientific techniques, Infer’s models are able to look across all of a prospect’s data to deliver the very best behavior scoring in the marketplace today.”
Infer’s behavior scoring solution can dramatically increase sales and marketing efficiency and effectiveness in three primary areas. First, it helps reps prioritize new leads and create sales service level agreements (SLAs) that are applicable for different stages of the buying journey. Second, it helps marketing teams monitor leads in their nurture database, so they can send prospects back to sales as soon as they re-engage. Finally, it helps outbound sales teams surface accounts and contacts that are actively engaged and likely to buy.
“Infer helps us better prioritize our top sales leads by looking across two dimensions: whether they are a great fit for New Relic software analytics, and whether they’re currently exhibiting buying behavior,” said T. Baxter Denney, director of marketing operations at New Relic. “As more and more companies discover our software analytics products, we use Infer’s dynamic scoring to provide the right contacts to our sales team at the right time. The company’s behavioral models automatically surface deals that will close significantly sooner and more often than our average prospect.”
“Our Infer behavioral model is helping us determine which prospects our reps should focus on,” said Jason McDonald, director of marketing at Chef. “We can now look across all of our accounts every day and see which companies have multiple people actively evaluating our software.”
Infer’s state-of-the-art data science mines all activity captured in a company’s marketing automation software daily – including each prospect’s website, email or webinar activity. Infer behavioral models then take into account the timing of each action, activity spikes or declines, sustained engagement and behavior combinations to score a company’s highest potential prospects more quickly and effectively than any other solution.
Founded in 2010, Infer delivers predictive business applications that help companies win more customers. It leverages proven data science to rapidly model the untapped data sitting in enterprises, along with thousands of external signals from the web. Customers include several large businesses and numerous high growth companies like AdRoll, Cloudera, Concur, New Relic, Nitro, Tableau, Xactly and Zendesk. Headquartered in Palo Alto, California, Infer is funded by leading investors, including Redpoint Ventures, Andreessen Horowitz, Social+Capital Partnership, Sutter Hill Ventures and Nexus Venture Partners.