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CUSTOMER STORY

33% Higher Conversion Rate for Spendesk with Albacross Intent Data

Spendesk is the all-in-one spend management solution giving finance teams control and visibility over company spending.

Objective:

Build a process to enable the BDR team to prioritize and leverage timing in their outreach to achieve their monthly targets.

Results:

The BDR team gets 500 new accounts allocated every month from existing demand on the Spendesk website, and see 33% higher conversion rate than with cold outbound leads.

Product:

Intent Data

Industry:

FinTech

Location:

France, Germany, UK, US

Employees:

270+

Fueled by a Series B investment in 2019, the fast growing all-in-one spend management solution Spendesk saw a need to take care of its sales efficiency. The Growth team set out on a mission to build a seamless process to help its growing team of 40 BDRs achieve their targets of 500 opportunities per month to support pipeline generation for the company’s bold revenue targets.

Uncovering existing demand to support pipeline generation

The Growth team’s goals were to:

  • Increase the number of accounts allocated to the BDR team
  • Reactivate and re-engage existing accounts in their CRM that are in-market
  • Help the BDR team prioritize and leverage timing in their outreach

Thanks to real-time website visitor identification and granularity of the data, Albacross was the natural choice to achieve these goals. The Growth team was able to create workflows to enrich the data of new or existing accounts and push notifications to the right BDRs.

As we have two quite different use cases: identifying new business leads and reactivating existing accounts, granularity of the data is really important. The more detailed and broken down the data can be, the more precise we can be with creating the necessary workflows with the relevant data points.

Louis Uguen Growth Manager, Spendesk

Creating a seamless workflow

To identify new accounts as well as recognize which existing accounts to re-engage,
the Growth team has built a workflow that follows these simplified three steps:

A custom object is created in Salesforce containing the intent data from Albacross, such as pages visited, duration, and level of intent. The custom object is assigned to the right BDR owner according to rules of ownership.

Afterwards, the BDRs are directly notified in Slack with information about the account and the shown intent.

While the Spendesk Growth team is responsible for providing the data and setting up the process to get the insights in front of the BDRs, the BDR Team Leader ensures that the accounts are contacted with the right message and at the right time based on the interest shown by the account. Talk about alignment!

Strengthened sales efficiency

After implementing Albacross, the Spendesk team has noticed several advantages in their sales processes:

  • The BDR team can prioritize outreach towards those accounts that are showing a strong buying intent and are actually ready to buy.
  • Albacross enables the BDRs with the insights when the accounts are in a buying mindset and allows them to leverage timing in their outreach!
  • Notifying the BDRs of existing account activity allows them to re-engage with known qualified accounts at a time that suits their buying window.

As a result

Spendesk is increasing their sales efficiency by knowing which accounts to prioritize, when is the best time to reach out, and which are the low hanging fruit to pick!

Higher conversion rates and sales velocity

More importantly, every month, more than 500 new accounts from Albacross are allocated to the BDR team.

The conversion rate from contacting these accounts to creation of opportunity is approximately 33% higher than cold outbound leads!

On top of this, the time to convert from contact to opportunity is shorter with Albacross accounts than cold outbound leads, resulting in higher sales velocity.

Working with Albacross

We received great training from the Albacross Customer Success team and it was easy to set up the segments and workflows. Today the most important thing is that we are happy and I think this is just the beginning - it takes time to see results but it is normal as it is a new process, a new approach, but in the end it pays off.