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Identifying and engaging with your best leads just got breathtakingly easy with our newly released Customer Lifecycle Scoring. With just a couple button clicks, you can create multiple AI-powered propensity models to identify accounts and users most likely to convert, expand, or churn. Now you can focus your efforts on the highest value customers from top-of-funnel acquisition all the way down to conversion and expansion.
Implementing propensity scores internally typically takes months (if not quarters)
We all know how hard it is to implement propensity scores! You need to generate organizational buy-in, collaborate with data teams for months to get an initial model running, and manually track results to determine if the scores are working.
And after all that work to generate scores, you have to make sure GTM teams can actually use them. The problem is that scores are “blackbox” and delivered to GTM teams without actionable context or insights.
Worse yet, it’s so hard to build another model to account for GTM team feedback that most propensity scoring projects lose steam. We’ve heard that turnaround times on tweaking and iterating on scores can take weeks or months for data teams. We’ve seen time and time again that companies drop projects with great initial results because of how difficult it is to iterate on and operationalize propensity scoring.
That’s where Correlated comes in.
We make it possible to collect all your customer data in one place, seamlessly build multiple propensity scoring models to monitor your entire customer base, and pipe those scores into downstream actions (like Salesforce Custom Fields, Slack Alerts, Marketo Smart Campaigns or automated sequences in Outreach). With Correlated, you can find the users most likely to convert, accounts most likely to expand, and large accounts at risk of churning. You can then use Correlated’s automation platform to route these leads to the right team. The opportunities are endless!
Existing Propensity Scoring Platforms weren’t built for modern SaaS
Scoring is by no means a new concept. In B2C, propensity scoring has been around for ages when it comes to understanding likelihood to engage, to buy, or to churn. In B2B, scoring has been around at the top-of-the-funnel in the form of MQLs.
So why did we spend all this time building another propensity scoring solution?
Existing scoring platforms aren’t built for the new world of SaaS, where customers convert, grow, and expand throughout their entire lifecycle within the product. It’s no longer about landing a customer and having them sign a contract. It’s about landing a customer, showing value, and growing their contract value over time. Scoring methodologies like MQLs focus solely on top-of-funnel conversion at the detriment of where true value lies - further down the customer lifecycle journey.
First-party data is more available now than ever, making more powerful propensity scoring possible
So if much of the value lies after an MQL is identified, why haven’t more companies introduced propensity scoring further down the funnel?
First, a lot of innovation has occurred over the last several years when it comes to combining your customer data. CDPs like Segment and Rudderstack are now must-haves in sales and marketing tooling. Second, companies are rapidly adopting cloud data warehouses, ETL, and reverse ETL tooling to store all customer data. Third, companies like dbt are re-imagining how data models are deployed across the enterprise.
All these factors open up an opportunity to not just leverage third-party data provided by vendors like Zoominfo and Clearbit, but to combine it with first-party data generated by your product. What this ends up looking like is scoring not just for “marketing qualified” leads, but also for “sales qualified” leads, “product qualified” leads, and “customer success qualified” leads.
Why should you consider using Correlated’s Customer Lifecycle Scores?
Let’s imagine that you’re trying to figure out how to invest your resources on the best leads. You could target large enterprises with more than 5 active users, but this ICP is based on what you know. What about the ideal customers you don’t yet know about?
This is a common question from Growth professionals at SaaS companies who we work with on a daily basis. We shipped Customer Lifecycle Scores to directly address this problem.
Our Customer LIfecycle Scores help you turn customer data into revenue by identifying the best customers to go after and why. We show you new insights you might not have known about, giving you directional guidance on where to go next. You can build custom models, self-serve. And, you can automatically send the best customers to the downstream applications you use on a daily basis.
Correlated is paving the way for better propensity scoring
At Correlated, we’re focused on not just bringing scoring to market, but completely rethinking how growth teams can truly leverage scoring to change how they work. Historically, growth teams looking to leverage propensity scores have struggled with four high-level problems.
- Getting access to first-party data about their customers. Correlated makes it possible to configure your data sources once, visualize your data in Account and User Lists, and leverage all your data to build propensity scoring models.
- Testing and iterating on scores built in-house. Unlike before where you had to wait months (if not quarters) to complete a scoring analysis with your data team, you can easily change models, adjust them, and re-run them with a few clicks.
- Scores are black box and not actionable. Correlated doesn’t just give you a score, it gives you “indicators” that drive the score, so that you can leverage those insights to take the next best action.
- Operationalizing scores. Many of the customers we work with talk about receiving spreadsheets of high scoring accounts. We make it possible to receive notifications right when accounts or users receive a high score, so that you can reach out at the best time.
How our customers are using scoring to optimize their go-to-market motions
All of this sounds great, but how are Correlated’s customers using scoring to optimize their go-to-market motions today?
The primary use case for customers today is to sort accounts and users by propensity to convert, segment accounts and users into different audiences, and pipe each “qualified” audience into a playbook.
For example, you can imagine sending Enterprise Accounts with a high propensity to buy to the AE who owns that account. Alternatively, you can send SMB Accounts with a high propensity to buy to a marketing campaign that pushes them to convert from self-serve.
In fact, Reveal uses our scores to prioritize accounts directly in Salesforce by piping our scores into a custom field in Salesforce. They can then leverage Salesforce to power whatever workflows they want.
“We pipe Correlated’s scores directly into Salesforce so that our sales team can leverage those scores to prioritize which accounts to go after. Everything happens automatically, and it has been hands off for the last several months since we first set up our initial Playbooks.” - Perrine El Khoury, Co-Founder and CPO, Reveal
Our customers also use scoring to learn new things about their users that they didn’t know before. They leverage the insights to identify actions that drive conversion so that they can identify the best customers and optimize their product experience to drive towards those actions.
"Correlated's new Customer Lifecycle Scoring is providing us with useful insights into signals that drive conversion. We are using the AI-powered indicators to validate and identify risk and opportunity signals so we can engage the customer in a meaningful way. Having started off on their initial alpha version of scoring, we're excited by the progress!" - Lauren Harold, Senior Director, Customer Experience, RainforestQA
At the end of the day, Correlated’s Customer Lifecycle Scores can help you keep a pulse on your customers, as well as give you the tools you need to develop a deeper understanding of what makes a great customer.
How can I get started?
Correlated’s Customer Lifecycle Scores are now generally available. You can sign up for a free account and gain access to our Scoring Engine in a free trial for 30 days. The clock only starts once you start loading data in, so you can create an account at any time without eating away at your free trial. We’re always available to talk through strategy, so if you aren’t quite ready to jump in, you can schedule a demo with us!
This release is just the beginning for us as we build out a platform that puts the power of data insights into the hands of GTM teams. We are excited for you to join us on this journey!