The hottest buzzword in the MarTech (which is also a buzzword) space is Account-based Marketing (ABM). It’s the fundamental shift from Lead-centric to Account-centric marketing. And all of the various cloud-based software tools related to ABM make your Sales and Marketing teams more effective than ever.
At the risk of sounding overly pessimistic, that is all ABM hype. It’s the best case scenario with ABM. But what’s the reality of implementing an ABM strategy? Just about everyone says the weak link of ABM is dirty leads. We all know “garbage in/garbage out” when dealing with data is not new, but garbage data—especially when it comes to Leads in ABM—is nothing short of disastrous.
Sales points the finger at Marketing because “Marketing is Demand Gen and they own the Leads.” Marketing says it’s not their fault because the Leads are coming from a purchased list or form fills from prospects on the website. “Yes, we own the Leads,” Marketing would admit. “But Sales should know which Leads match their Accounts.”
And so the circular firing squad of Sales and Marketing professionals begins anew.
But it doesn’t have to be this way if your ABM strategy includes L2A.
Getting real with Lead data
For a Sales rep, reaching out to and engaging with prospects are the keys to success. If you’re in Sales and not doing those two activities, then you’re not selling. That’s why we have a multi billion-dollar industry around customer relationship management. Using Salesforce, Hubspot, Dynamics 365, et cetera was supposed to keep Sales on track with prospecting. But who doesn’t have a horror story of dirty leads in the CRM? Nobody in Sales wants to spend any time cleaning data in Salesforce. It’s is the worst kind of non-revenue generating activities a Sales rep can do.
In the Marketing team’s eyes, the Lead data cleanup should be Sales’ gig. In an ABM world, the Leads have to be matched to the Account and the owner of the Account invariably is Sales. But dirty Lead cleaning gets abandoned by Sales in favor of prospecting. “It’s not my job,” says Sales. Worst of all, new (potentially dirty) Leads are coming in all the time. Now the company’s Salesforce CRM data is a mess. There are a couple of options to fix it:
- Hire a team of consultants to clean your Leads at regular intervals (that’s expensive)
- Leverage a technology called “lead to account matching” (a much better idea)
What is Lead to Account matching?
Lead to account (L2A) matching automates the connection of a Lead to the Account that it represents in your CRM. Generally speaking, L2A matching is the process that analyzes leads, learns the characteristics of that lead (via different fields on your lead record), and then attempts to match the leads to the right accounts in the CRM database. For example, say a Lead comes in for “William Murray” at the Triangle Company. With L2A matching, the Lead for William Murray is automatically connected to the pre-existing Account for the Triangle Company in your Salesforce (or any other) CRM. That way, the already-engaged owner of the Triangle Company Account can conduct appropriate outreach to Mr. Murray rather than a cold call or email from a SDR.
How Syftia L2A works (and saves you so much time)
The Syftia L2A solution adds more intelligence to the process thanks to our cloud-based machine learning and fuzzy logic algorithms. These technologies help avoid duplicating Leads and Accounts by determining the best matches for your existing Accounts. This is common when you have a company name field in Leads spelled a little differently than the master Account you want to match.
For example, rather than typing “American Express” into a form, the prospect might have used “AMEX” instead. Syftia uses fuzzy logic algorithms to recognize that AMEX and American Express are the same then matches any Leads with “AMEX” to the correct “American Express” Accounts. In the example above, say the Account owner for Triangle Company has “Bill” rather than “William” as the first name for the primary contact in Salesforce. Because Syftia is linked directly to Salesforce and knows Triangle Company’s street address, website URL, and other information, Syftia L2A immediately adds the “William Murray” Lead to the existing Account for the Triangle Company. We have a 99% accuracy rate, but on those rare occasions Syftia doesn’t find an exact match we display the most statistically-viable potential matches from which you can choose.
Get L2A for your ABM with Syftia
Use Syftia to save countless hours for your Marketing and Sales teams. We automate your Lead to Account Matching for any CRM. Our machine learning model aggregates 3rd-party data with your 1st-party data to automate the most difficult parts of demand generation. Contact us to learn how Syftia L2A matching quickly and accurately pairs your Leads to Accounts by the thousands in seconds.