As the martech ecosystem continues to expand in both capabilities and complexity, it’s always interesting to learn why a company chose a particular solution. For this reason, we sat down with Jason Widup, VP of Search Marketing and Operations at Workfront, and former Mintigo practitioner at Getty Images. We wanted to get his views on why they added Mintigo to their tech stack and how it aligned with their strategic growth plans.
Strategically targeting a new market
Workfront is a modern work management platform designed to connect people to work and accelerate organizational success across the enterprise. Over the past few years, the company experienced great success and grew rapidly, but without a market-specific targeting effort, they found themselves settling into the corporate mid-market space without as much presence in the often more lucrative enterprise market. In the past couple of quarters, however, there was a concerted effort to put a “much stronger focus on enterprise,” according to Widup. At the same time, there was a push to better integrate their marketing and sales efforts through the implementation of SiriusDecisions’ Demand Unit Waterfall framework.
Creating an effective, integrated go-to-market strategy starts with understanding your ideal customer profile or ICP — the profile of those accounts most likely to buy from you. Workfront had begun creating a rudimentary ICP by putting together some simple firmographics and technographics from external and internal data sources. Using this ICP, they were able to compile a list of four thousand enterprise accounts to target. This is where things became challenging.
Firstly, they knew four thousand was much too high a number to pursue realistically, so they needed a way to prioritize these accounts intelligently. Second, they didn’t have any intent data informing their models, limiting their ability to understand where accounts were in the buyer’s journey. These two issues were the strongest drivers for implementing Mintigo – to build a high-definition ICP that would enable Workfront to more effectively identify, target and prioritize enterprise accounts.
Widup was especially interested in the number and breadth of indicators – insights driven by AI – that are used to develop Mintigo’s predictive models. While Workfront had numerous other data sources, he knew from experience how difficult it would be to create a sufficiently well-defined ICP on their own by gathering together all relevant data points and developing an understanding of the correlations between variables.
Likewise, as a former Mintigo practitioner at Getty Images, he knew that the model building process was flexible and transparent compared to other offerings on the market. As he puts it, “I hate black boxes, and a lot of these predictive systems can turn into a black box. One of the reasons we went with Mintigo was because we felt like we could see exactly what went into the model.”
It’s more than just the technology, it’s the relationship
While the sophistication of Mintigo’s technology was a draw, it was also the customer experience that swayed Workfront and two-time customer Widup. When recommending the platform, he always “starts with the relationship and how great it is to work with the people at Mintigo…it’s always felt like working with an extension of my team. The customer experience has always been great. Literally out of all the vendors I’ve worked with in my career from a B2B standpoint, I feel that Mintigo is the best in this area.”
Success and the future
In terms of success, Workfront is looking to increase conversion rates from automated qualified leads (AQLs) to qualified sales opportunities. By using Mintigo’s predictive lead scoring, they will better focus their efforts on those accounts with the highest propensity to convert, which will also enable them to reduce the amount pipeline coverage needed for sales to hit their numbers. Likewise, as they continue to adopt the Demand Unit Waterfall framework, they hope to identify buying teams within their target accounts more effectively. Other goals related to Mintigo’s deployment include increasing sales velocity, increasing average sales price (ASP), and improving retention through the creation of churn models that identify at-risk accounts.
With both sales and marketing well aligned around their new strategy, and the technology driving it, they are poised to tackle the enterprise market. We look forward to Workfront’s success in winning over this new market with their best-in-class work management platform.