Don't Let the Name Fool You: 6sense is Based in Math, Patented, and Grounded in Worldly Advice from Customers and Peers

According to 6sense CEO Amanda Kahlow, "Predicting buyers and the products they're interested in isn't magic—it's math. …And lots of behavioral, intent-related data."1 

The 6sense math is paying off for its customers. Shortly after a first round of funding in 2014, the company reported that one of its customers closed $300 million in new business as a result of the 6sense method. More recently, 6sense announced Netsuite has seen an 8x lift in conversions and $25 million in pipeline created since June of 2015, and Dell has witnessed a 2x increase in average opportunity size. Quoting Dell's Marketing Innovation Strategist, Enterprise Demand Generation Jeff Siegel, the Dell team likes to say, “If it's not 6sense, it's nonsense."3

The 6sense math is also paying off for 6sense. In July 2016, the company announced "breakthrough momentum with 4x annual recurring revenue (ARR) growth from this time last year and zero customer churn." (and their Customer Success team is still forming!)  Some of their other customers include ADP, Cisco, Cohesity, Dropbox, GE, HP, IBM, NetApp, Salesforce, and Xactly. Salesforce is also an investor, along with other lead investors Bain Capital, Battery Ventures, and Venrock. To date, over $36M has been invested.4  No hocus pocus indeed.

Born out of a consulting project with CISCO, Kahlow formed 6sense when she experienced an "Aha!" moment during a team meeting. Less than 10 years later, Kahlow continues to propel the company forward with two key moves which caught my attention.

First, to help secure and fuel future growth, 6sense shrewdly patented its method. Crediting Kahlow as the inventor, the USPTO patent covers a “machine implemented system and method of predicting future sales, leads and opportunities based on static data and/or intent buying behavioral data by connecting data from one or multiple sources.“ 

That's a mouthful. More simply put, the 6sense “network of intent data” looks at activity on thousands of B2B publisher sites, directories, blogs, communities, and forums, and combines that data with 6sense customer activity (weblogs, CRM, and marketing automation) as well as descriptive attribute data about the customer's products to make predictions about buyers. The real power of their method, according to Kahlow, is the descriptive information provided to their customers about what buyers want and where they are in their particular buying cycle, which is richer and more directional than a simple scoring of leads already in the funnel. By 6sense estimates, between 60% and 90% of B2B purchasing decisions happen before a customer makes it into a company’s sales and marketing systems. “That is, before that customer raises their hand and asks to be called."2 Those are the informed, motivated, and funded buyers 6sense finds for its customers.

According to the company press release, the patent "validates 6sense's unique formula and market leadership." So does the aforementioned results.

But what really caught my attention is the company's B2B Executive Playbook move to form a Customer Advisory Board (CAB). We have seen many companies like 6sense, whose founders lead the company to impressive growth (and several rounds of funding), lull themselves into complacency (and stagnating growth) with inside-only thinkingthe mindset that the collective brainpower of the internal team is the only store of knowledge and creativity needed for innovation and strategyUnderstandably, it is easy to rely only on the brilliance of the team who's got you there so far. Why change the formula? 

Unfortunately, inside-only thinking produces insular ideas and solutions which are not rooted in customer or market needs, especially as the leadership and product development teams get farther and farther away from direct interaction with customers, and more importantly, decision makers. They simply lose touch, and this thinking in a vacuum approach "contributes to the 60-70 percent product failure rate that continues to plague companies."5

6sense looks to avoid this pitfall with its CAB. Chartered to formalize the process to align product development with customer needs, Chief Strategy Officer Mark Dye, says their CAB allows 6sense to continue to innovate their platform and roadmap alongside the business goals of their most engaged customers.Taking customer engagement one step further, 6sense timed the launch of their CAB in conjuction with their recent Predictive Intelligence Summit, B2B ESP. With speakers from CISCO, Dell, and Forrester B2B sales and marketing industry analyst @lauraramos, 6sense seems to understand that the best results come from the thinking both inside and outside themselves. As CEO Kahlow notes, "We are thrilled to be working with some of the brightest and most innovative minds in B2B marketing and sales."With this approach coming straight from the top, I have a feeling she will keep this extended 6sense team on the path to sustainable, predictable, profitable growth.5

To my favorite skeptic's delight, I found a greeting card which proclaims, "Magic is everywhere, if you don't understand science."  Although I still like to believe in a little magic, I certainly appreciate when we can use math and science to create a sense of awe. Kahlow perhaps says it best, “The universe is a really incredible place if you put it to good use.”7 

That she is.

 

Resources.  Here are just some of the great resources I found to learn about 6sense:

1  http://www.fiercecmo.com/story/6sense-launches-tool-designed-pinpoint-b2b-buyer-intent/2014-08-06

2  https://techcrunch.com/2014/05/19/6sense-a-predictive-sales-intelligence-tool-exits-stealth-with-12m-led-by-battery-venrock/

http://www.prnewswire.com/news-releases/6sense-announces-4x-growth-in-annual-recurring-revenue-300304671.html

4  https://www.crunchbase.com/organization/6sense

5  http://www.geehangroup.com/featured-publications

6  http://www.prnewswire.com/news-releases/6sense-establishes-customer-advisory-board-to-drive-customer-centric-innovation-300307442.html?tc=eml_cleartime

http://venturebeat.com/2014/05/29/hard-knock-life-for-this-family-led-to-3-ceos-4-startups/

 

 

 

 

 

 

 

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3 Keys to Retaining and Growing B2B Revenue

In the B2B World, 80% of your revenue comes from 20% of your customers. The reality is that losing just 5% of those customers could potentially sink your organization. So in this age of big data and rapidly evolving technology, what are the best ways to retain and ultimately grow those customers?

B2B companies must meaningfully engage with their customers to evolve loyalty into advocacy, and engagement begins with a relationship.  Through our work with over 50 leading B2B companies, we have found time again the following three key relationship building practices lay the foundation for account retention and growth:

1.    Educate, Don't Sell.  B2B relationships start with education, not a sales pitch. Educate yourself on your customer's industry, market, challenges, and opportunities, and then demonstrate how you can show them a path forward.  Providing relevant content through discussions and forums, blog posts and articles, and research is an excellent way to establish your credibility and begin the customer loyalty to advocacy journey.

2.    Customer Advisory Boards create a platform where you can leverage happy customers and drive innovation through customer co-design and collaboration. The end result is overall market alignment in offerings, communications, and strategy.

3.    Executive Summits bring key decision-makers together to preview a strategy, product, or market innovation. Through these focused exchanges, customers become first-to-know, first-to-buy, and first to advocate your solution in the marketplace.

Structured, proven, and dynamic educational forums, customer advisory boards, and executive summits help organizations develop a deep understanding of market conditions while building the rapport with key executives. This powerful formula turns customers into true advocates and is the best recipe for retaining and growing your top customers.

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DCR Workforce: Texbook Orchestration of B2B Growth Strategy

Holy Beethoven!  I read dozens of articles about innovation and strategy each week, but none of them reflect the simple foundational melody of B2B growth: engage your customer decision makers and provide a mechanism for them to collaborate meaningfully with your team. 

So imagine the music to my ears as I read "DCR's Customer Advisory Board: Orchestrating Innovation," a publication DCR Workforce (DCR) released along with its recent announcement outlining the collaboration between DCR customers and the company's product managers, solutions group, and internal implementation team.

In its press release, DCR, a provider of Vendor Management System (VMS) solutions, describes "the successful collaboration of its Global Implementation Summit in conjunction with its Customer Advisory Board Innovation Summit to produce the next generation of industry innovations."  Sequenced throughout the year, DCR meets with decision makers and ties their input directly to nearly all aspects of the company's product development and management processes. "DCR Workforce works closely with VIP clients in identifying industry trends and assisting in developing the overall strategic vision for our product."  The company describes getting feedback on both the current and new, including product roadmaps on recent releases, procedures for new customer onboarding, roll-outs of new features, specifications for more established, advanced users, and new innovative ideas the DCR team is "composing."  According to Rich Piva, Director of Implementation and Client Services, "We're orchestrating innovation together with our valued customers.  And this synergy continues to grow and make Smart Track the best VMS in the industry." 

Most importantly, DCR leadership understands its role in the B2B executive engagement process. "Our most important job during these Summits is to ask the big questions, then sit back and listen," says Naveen Dua, CEO and Vice President of Solutions. "We want our customers to know that we are true partners with them and take their needs very seriously."  It may sound elementary, but unlike Mr. Dua, a surprising number of very smart and successful executives continue to struggle with surrendering the PowerPoint.  I don't suspect this reluctance is necessarily a habit inherent to a generation, but rather a habit inherent to a career path which has been paved with having all of the answers.  Wisdom tells us, however, that oftentimes the roadmap which leads to one point of your journey won't necessarily be the same guide to your next. Let go of the clicker, and see your growth soar.

Bravo, DCR!  I look forward to reading your results over the next eight quarters and hearing the sweet music of B2B Sustainable, Predictable, Profitable, Growth.

 

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3 Keys to Retaining and Growing B2B Revenue

In the B2B World, 80% of your revenue comes from 20% of your customers. The reality is that losing just 5% of those customers could potentially sink your organization. So in this age of big data and rapidly evolving technology, what are the best ways to retain and ultimately grow those customers?

B2B companies must meaningfully engage with their customers to evolve loyalty into advocacy, and engagement begins with a relationship.  Through our work with over 50 leading B2B companies, we have found time again the following three key relationship building practices lay the foundation for account retention and growth:

1.    Educate, Don't Sell.  B2B relationships start with education, not a sales pitch. Educate yourself on your customer's industry, market, challenges, and opportunities, and then demonstrate how you can show them a path forward.  Providing relevant content through discussions and forums, blog posts and articles, and research is an excellent way to establish your credibility and begin the customer loyalty to advocacy journey.

2.    Customer Advisory Boards create a platform where you can leverage happy customers and drive innovation through customer co-design and collaboration. The end result is overall market alignment in offerings, communications, and strategy.

3.    Executive Summits bring key decision-makers together to preview a strategy, product, or market innovation. Through these focused exchanges, customers become first-to-know, first-to-buy, and first to advocate your solution in the marketplace.

Structured, proven, and dynamic educational forums, customer advisory boards, and executive summits help organizations develop a deep understanding of market conditions while building the rapport with key executives. This powerful formula turns customers into true advocates and is the best recipe for retaining and growing your top customers.

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What is a B2B Executive Summit?

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Why is Customer Advocacy Necessary for B2B Businesses?

The need for customer advocacy and its tremendous potential in business success is only recently being realized by businesses across the globe. In a nut shell, by integrating Customer Advocacy into their long-term strategic goals, businesses can enjoy higher levels of customer satisfaction, customer retention, and profitability.

What is Customer Advocacy?

Customer advocacy is a process that has essentially originated from customer services. The aim of customer advocacy is to focus on the various things that customers are most interested in, or that the business thinks are of immense appeal to them. Customer advocacy essentially redirects the strategic focus of the underlying culture of the business so that it becomes more customer-oriented or customer friendly when devising its marketing techniques and customer service agenda.

The Role of Customer Advocates

A customer advocate essentially serves as a liaison between the business and the customer where they focus their efforts on facilitating both the sides. A successful and effective customer advocacy business model is usually one that covers all facets related to customer contact. This can include products, sales, services and complaints. As a result, customer advobookcates are trained in a myriad of cross-functional roles so that they are well-equipped to assist valuable customers in all areas of the business.

Evolving Satisfied Customers to Advocates

The B2B Executive Playbook is a tremendous resource that discusses case studies of several B2B organizations that have successfully evolved satisfied customers to advocates through customer programs such as: Customer Advisory Boards, Executive Sponsor Programs, and Executive Summits to achieve sustainable, predictable and profitable growth.

 

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Accelerate Sales in a Decelerating Economy

In today’s economy factors like increasingly shrinking budgets, fading staff and an incredible rise in competition for even the most minor of sales have created the need to make use of opportunities and resources as thoroughly as possible. In a nutshell, most companies have to find a plausible way to produce an increased number of better qualified leads with half the amount of people and a lot lesser resources than the number actually required.

How will you Accelerate your Sales?

With the threat of downsizing looming around the heads of employees in any basic firm, the whole concept of ‘working smarter’ has become the lifeblood and sustenance of employees in a work place, given the demand of efficiency despite the sparse budget and abysmal headcount.

What are the best tips for Accelerating Sales

There are some ways in which you can efficiently cause accelerating sales which benefit your company and its employees. These include Customer Advisory Boards or Councils and Executive Summits

Customer Advisory Boards (CAB) or Counciils (CAC)

A Customer Advisory Board is a high-return, high-profile event that can heavily influence your company's competitive standing. A successful CAB provides a powerful format that turns customers into true advocates and provides executives with the information needed to align customer programs with company strategy. A formal Customer Advisory Board should be in your marketing and strategic arsenal.

Executive Summits

Executive Summits are one-time centralized or regional events – that bring key decision-makers together to preview a strategy, product or market innovation. Through these focused exchanges, customers become first-to-know, first-to-buy and first to advocate your solution in the marketplace.

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Planning Ahead and Being Prepared for Growth in 2012 - Starts Here!

Back in September, Gartner came out with their rather controversial CIO Advisory:  Four Recession and Growth Strategies That Make Sense for 2012.  Though forecasts for growth in 2012 are modest, Gartner recommended that clients plan ahead and “avoid consuming time preparing for growth should growth opportunities suddenly arise” and that “however long a distressed economic climate may last, growth will remain a top priority of CEOs and boards of directors.”

Many organizations may prefer to wait and see what the economy does, but that would be a big mistake. I agree with Gartner that organizations must be prepared to take action when the opportunity arises.

Plan ahead. Get started by attending Geehan Group’s upcoming B2B Executive Summit:Summit logo Navigating Growth & Transformation. Designed exclusively for VP & higher executives, the B2B Summit provides an intimate setting (attendance is limited to 50 attendees) for learning from a prestigious roster of speakers, including Paul Gottsegen, CMO at Infosys, Joe Austin, SVP Customer Experience at Juniper, and Brent Ahrens, General Partner at Canaan, as well as author Jim Hauden.

  • Learn how Bill Fathers, President of Savvis, helped shape the company’s international presence, increased its market share, and developed leading-edge products for the financial services, media and telecom industries.
  • Discover how John Schwarz, former CEO at Business Objects, doubled the company’s revenue to more than $1.5 billion, improved profitability, and oversaw seven strategic acquisitions.
  • Hear how Joe Morgan, CEO at Standard Register, is transforming his organization from a document printing company into a provider of communications technology.
So get started. Plan ahead by attending Geehan Group’s B2B Executive Summit and begin preparing for growth in 2012. You’ll be glad you did!  

Click here to learn more and to receive your personal invitation.


“Rarely do you find an approachable business environment that invigorates your social senses with intriguing conversations, collaborative exchange of inventive ideas, fascinating speakers with applicable war stories, and the urge to network well beyond the two days that the Geehan Group brought us all together. What I gained out of this B2B gathering of like minds expanded my strategic thinking, opened new opportunities about how marketing can make an impact, plus enlightened me on similar management challenges with realistic solutions and results.”

Greg Jorgenson, SVP Marketing, VeriSign



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2012 B2B Executive Summit

Navigating Growth & Transformation

The B2B Executive Summit is designed and reserved exclusively for executives (VP & higher) who are plotting a course to future success. Whether you are contemplating thhotele journey or already immersed in it, the B2B Executive Summit will provide you with fresh insights and guidance to help you along the way. 

Join other B2B leaders from companies like VMWare, Wells Fargo, Canaan, HCL, Oracle, Savvis, NCR, VeriSign, Xerox and Standard Register.  Learn from their experience how customers are helping them transform and re-design their organizations to achieve sustainable, predictable and profitable growth.

This year’s event will be held at the Grove Isle Hotel & Spa in Coconut Grove, Florida. Spaces are filling up quickly as there are a limited number of registrants available for this exclusive event. To receive registration information and your personal invitation, please send detailed contact information including; name, title, company name, and email address to: Misty Strawser: mstrawser@geehangroup.com.

Here are a few quotes from last year’s attendees:

summit coverNeal Polachek, CEO, Kelsey Group
“Few conferences – large or small – offer attendees both the opportunity to engage and interact and the provocation to stretch and explore. Geehan’s event in Phoenix provided this unique mix and forced the attendee to ponder all aspects of their enterprise – from how they work with their best customers, to the pace of innovation, to the business partners they ally to the role of the board. I look forward to attending another Geehan Group event!”

Joe Morgan, CEO, Standard Register
"When you can get executives of the quality you had from such a variety of industries who are working on really big and important things for their own companies to be that attentive for two days, talking about issues facing their business, you must have really, really rich content. For them to sit and actively participate, adding value to one another, and then have tremendous follow-up afterward where people want to continue the dialogue and actually impact each other’s businesses relationships and development, that for me is a real benefit. I’ve already heard from four people and it’s only been 3 days since the Summit. That’s rare. You created a dynamic environment where people expect they’re going to stay in touch."
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All Hands on Deck

As a project manager one of my responsibilities is developing timelines and project plans for my customer’s executive programs.  It is amazing to me as I put each project plan together, the number of individuals it takes to pull off a successful executive summit.  It trRowersuly takes the all hands on deck approach to coordinate all of the details and execute on each line of a project plan.   Key resources must be identified up front for overall program management, marketing creative, print production and communications.  Each of these areas is reliant upon the other to complete assigned tasks.

• Program Management – point of contact for all decisions regarding the summit program
• Marketing Creative – designs the graphics and printed pieces necessary to market the summit
• Print Production – prints and ships all required collateral pre-event and provides quality materials for the executive summit
• Communications – develops a strategy for messaging and executes through usage of various channels

The list of areas necessary to execute each summit may vary by organization, but the areas I listed above are the ones I recommend be top priority.  Before you begin any summit planning activities make sure that you have identified the key resources you will need to have a successful summit for your organization.  I have a few other things that you may want to check out on our Execuitve Summit Checklist.
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