What if companies could predict what products people will buy, how much they will buy, and when? It would be a game changer—and it’s already possible with the power of predictive intelligence.
BlueJeans is a cloud-based conferencing service on a mission to make video communications easy and pervasive. In a highly competitive space, the company has been able to achieve tremendous growth over the past six years. However, it remains under tremendous pressure to increase sales volume. The challenges? Prospective buyers who raise their hands for information about cloud-based video conferencing are often swarmed by competitors. Therefore it was crucial for BlueJeans to find a way to identify and engage with buyers at the earliest possible stage of the buying cycle.
Enter predictive analytics and data-driven decision making. In order to gain intelligence on what, how much, and when prospects would buy early in the sales funnel, BlueJeans decided to give predictive a try—incorporating the 6sense B2B predictive intelligence engine to infuse BlueJeans’ processes with data-driven insights to speed up sales cycles, grow the pipeline, and increase the average deal size. Using its private network of billions of time-sensitive intent interactions, 6sense uncovers net-new prospects at every stage of the funnel and determines which existing prospects are in market to buy. 6sense’s Viral Bajaria explores how BlueJeans Network was able to leverage predictive analytics to uncover buyers earlier, convert them at a 20x higher rate, and build a $33M pipeline and provides technical insights about how predictive analytics works and the power of the cadre of emerging predictive technologies across a range of verticals.
The partnership started by digging into the data stored in BlueJeans’s CRM, marketing automation and web analytics technologies, identifying and including relevant external data sources from the 6sense private data network as well. With the combined data, the predictive machine was able to identify 1,800 prospects in the decision or purchase stage of the buying cycle who were already in their system but were not being actively pursued by the sales team. It was also able to identify the window within which a lead would turn into an opportunity, enabling the sales team to identify prospects unknown to BlueJeans who were in-market to buy a video conferencing solution. After running an A/B test on the 1,800 new prospects, BlueJeans learned that prospects found through the predictive intelligence solution converted at a rate 20x higher than leads scored by its internal system (and with fewer touches from the sales team—down to 10 from a former average of 33).
Viral Bajaria is cofounder and CTO of 6Sense, where he leads the development of 6sense’s innovative analytics and predictive platform. Every day, Viral works to realize his passion of leveling the playing field for companies of all sizes with open source data technology. Previously, Viral built the big data platform at Hulu that processed over 2.5 billion events per day. He was an early adopter of Hadoop and built and managed a cluster that stored and processed over a petabyte of data. Viral was instrumental in building the infrastructure that powered reporting, financial, and recommendations systems across web and mobile devices. In his spare time, Viral enjoys contributing to open source projects.
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