Acquiring new customers is a critical aspect of any business, but it can be costly and time-consuming. The founders of scaleMatters learned this firsthand when they implemented a data-focused approach to customer acquisition at their previous company, Salsa Labs. As a result, they significantly shortened the sales cycle and decreased the cost of acquiring customers within just nine months, positioning the company for a successful sale.
Inspired by their experience at Salsa Labs, the scaleMatters team set out to replicate and enhance their approach, creating a platform that helps early or growth stage B2B companies improve the efficiency of their marketing and sales efforts. scaleMatters aims to enhance the probability of success for these businesses and address the problem of wasted marketing and sales spending that plagues many growth-stage companies.
Due to economic uncertainty and tighter capital markets, growth-stage B2B businesses face challenges in cutting costs and extending their cash runways. While they need to make these cost-saving measures to survive the economic downturn, they must also show growth to succeed. To achieve this, they need to improve the efficiency of their sales and marketing efforts.
C-level revenue leaders need to understand which marketing and sales investments are working and which are not working. Thus they need to know which actions to improve their performance. Unfortunately, it takes too much manual effort and time for B2B leaders to figure out where they have inefficiencies in their revenue engine, such as sales process friction, wasted spending on non-performing marketing channels, low-performing salespeople, and messaging that doesn’t resonate. Therefore, a better and faster way to identify these issues is needed.
The scaleMatters team has developed a platform that builds on their past experiences in deconstructing go-to-market processes and creating a granular metrics model to measure every touchpoint in the customer journey. They also implemented new technology to capture all these measurement points and use the data to surface insights and make business decisions with greater precision. This approach led to a nearly 80% reduction in the cost to acquire customers and a 50% reduction in the time it took to acquire customers.
The scaleMatters Go-to-Market Optimization Platform helps businesses to improve their performance by identifying where costs can be cut, cash runway can be lengthened, and growth can be continued while also increasing the chances of success. The platform does this by making it painfully obvious where marketing and sales expenses are not delivering results, serving as an early warning system for potential problems, and giving direction on where to focus efforts to reach their goals.
The platform offers several key features designed to help businesses optimize their performance and achieve their goals. One such feature is the Buyer Journey Analyzer, which identifies friction points, bottlenecks, or breakage in the buyer journey or sales process and alerts customers to these issues.
Another feature is the All Funnels Analyzer, which allows customers to compare the performance of all their customer acquisition channels side-by-side, enabling them to see which channels are the most cost-effective and least cost-effective. Additionally, scaleMatters provides the Performance vs. Plan feature that lets customers upload their revenue plans, so they can always compare their actual performance against it and proactively make necessary adjustments to stay on track. The platform also has an Experiment Intelligence feature that can track the impact of events, changes, and experiments on performance metrics.
During the implementation process, scaleMatters’ Data Enrichment Package captures, transforms, and normalizes the metadata needed to measure the revenue engine, regardless of how the data was reported until now. This ensures that only quality data makes it into the platform. In addition, the platform is designed to prioritize the highest-impact issues through the infusion of 5 elements of context.
The Time element allows historical trending over time, period-over-period analysis, and event annotations to correlate the changes made and their impact on performance over time. The Plan element allows the upload of revenue plan/bookings model to measure full-funnel performance vs. plan, pinpoint variances to plan, and proactively correct the course.
The Causality element allows understanding of the upstream-downstream relationship between Go-to-Market process metrics to spot root cause issues and identify the ‘why’ behind the ‘what.’ The Significance element allows the weighting of metrics to focus on improving specific metrics that will significantly impact revenue. Finally, the Benchmarks element allows aggregate and anonymized Go-to-Market data across companies with similar characteristics to understand performance for key metrics and exploit strengths or overcome weaknesses.
scaleMatters was founded to improve the probability of success for growth-stage B2B companies. By providing a data-focused platform that helps businesses identify and fix inefficiencies in their marketing and sales efforts, scaleMatters helps these companies extend their cash runway, continue to show growth, and increase their chances of success. For more information on scaleMatters, visit their website scalematters.com