How Raintree Increased Their MQLs by 34% and decreased CAC by 15%
Key Results
✔️ 15% decrease in CAC
✔️ 34% increase in MQLs
✔️ 3x increase in marketing-sourced deals
Problem
Raintree's main use case was to see the whole journey before someone fills out a form or contact sales and to be able to see an overview of all channels/campaigns' influence on their pipeline so that they know where to invest in. As a B2B company, their sales cycle is long, and they wanted to be able to track the whole journey with a single source of truth.
"So obviously if someone clicks on a Google ad and they put a lead form in, we know that they were a Google ad, but we don't know what they did before that. And HockeyStack has helped accomplish the fact that we can go back and see what they did before they clicked the Google ad, whether it was a LinkedIn ad that they saw and didn't click on, or whether it was they searched us on Google and didn't fill out a form, whether they looked at a blog.
So being able to see that history and historical reference has been extremely helpful to get a whole, a holistic picture so that we can improve our marketing, and we can now see what's worked in the past and can duplicate it or improve upon it, and that's certainly been very, very helpful.
A great example was that we had a lead that came from Adroll, or at least looked on the surface like it came from Adroll. If we didn't have HockeyStack in place, we wouldn't know. We ended up seeing that it was a remarketing ad to someone who had visited our website six times through Google ads and organic search. They were not qualified, which taught us quickly to reengage what we're doing for remarketing and be more specific with our targeting. You don't want to remarket everyone visiting the website because 30% of the visitors are not interested in our service. These are often bots, misclicks, or others who came to our site for a reason that doesn't qualify them as potential clients, partners, or other sources at Raintree.
Also, I can quickly see which channels, ads, or marketing campaigns bring us the highest quality leads, their pipeline influence, and their ROI in a couple of minutes instead of wasting hours on Google Analytics."
Solution
Our team created dashboard templates for Raintree during their first week & tested all the integration data. Raintree now has a single source of truth that allows them to connect all their data in one place, attribute revenue to specific campaigns, and know where to invest more.
Odin automatically answers mission critical questions for marketing teams, builds reports from text, and sends weekly emails with insights.
You can ask Odin to find out the top performing campaigns for enterprise pipeline, which content type you should create more next quarter, or to prepare your doc for your next board meeting.
Nova does account scoring using buyer journeys, helps automate account research, and builds workflows to automate tasks.
For example, you can ask Nova to find high intent website visitors that recently hired a new CMO, do research to find if they have a specific technology on their website, and add them to the right sequence.
Our customers are already managing over $20B in campaign spend through the HockeyStack platform. This funding will allow us to expand our product offerings, and continue to help B2B companies scale revenue with AI-based insight products that make revenue optimization even easier.
We are super excited to bring more products to market this year, while helping B2B marketing and sales teams continue driving efficient growth.
A big thank you to all of our team, investors, customers, and friends. Without your support, we couldn’t have grown this fast.
Reach out if you want to learn more about our new products and check out HockeyStack!
About HockeyStack
HockeyStack is the Revenue Acceleration Platform for B2B. HockeyStack integrates with a company’s CRM, marketing automation tools, ad platforms and data warehouse to reveal the ideal customer journey and provide actionable next steps for marketing and sales teams. HockeyStack customers use this data to measure channel performance, launch cost-efficient campaigns, and prioritize the right accounts.
About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has more than $18 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).
