593: How the Modern Marketer Has Become a Data Doctor w/ Vijay Kasireddy

ABOUT THIS EPISODE

In this episode we talk to Vijay Kasireddy, Co-Founder and CEO at Fiind.

Fiind: https://fiind.com/

Linkedin: https://www.linkedin.com/company/fiind-inc/

Tweet: https://twitter.com/fiindinsights

Facebook: https://www.facebook.com/fiindinsights

Looking for a guaranteed way to createcontent that resonates with your audience, start upodcast interview yourideal clients and let them choose the topic of the interview, because if yourideal clients care about the topic, there's a good chance, the rest of youraudience will care about. It too, learn more at sweetfish media com, you're, listening to the BEA Tob Grothshow podcast dedicated to helping B to b executives, anchiet explosive grown,whether you're looking for techniques and strategies or tools and resources.You've come to the right place. I'm Jonathan Green, I'm James Carbary.Let's get it into the show! Welcome back to the BEE TO B growthshow today we are joined by Bj casseredy bj is the CO founder, an CEOat fine vj welcomed to the shell thanked Jonathan forhaving me it'sgreat to be here. It's great to have you I'll I'll, be the first to admit.We ran into some technical difficulties on my end last time that we werescheduled to have you on the show and V J he was. He was so marvellous aboutbeing flexible and allowing me to to rescuior the interviews that we couldwork out all those technical, audioblitches M, So v J again, thankyou so much it's! It really is going to be great to interview on the show we'regoing to be talking today and love. I love today's topic. We're Goingnao betalking about how the modern marketer has become a data doctor, which I thinkis a very compelling topic, but of course, before we get into today'stopic, maybe you can tell us a little about what you and the fine team are upto these days. YEA, absolutely Jonathan! So in fact someone recently weached outto me with a message that ran something like this. You know: Hey Congresson,your growth looks like you're looking for people hiding for people. We gotthis unique sobution that you want to try and I was like you know whowouldn't like some help, especially when you need it and it's free to tryout as fo this person who reached out...

...to me. She noticed that we're hiringwere expanding ore launching et Ceta et CEA and that these activities, which wecall them signals I indicate in need and reached out to me at the right timeand at what so I imagine you can understand your potential custmo needsfigure out who needs help and reach out to them with a message that a tesesttheir needs, better conversions and more customers right MHM. So that's.Why find ti building a signal store using artificial intelligence to helpmarketing and sales teams find dea customers, whether it's new ubsell orCossal, opperturities, mhmyeah well, and certainly- and so you know, Bin Finding the right customers at theat the right time and approaching with with the right message. You know, Imean who couldn't use a little bit more of that in their business. So obviouslyyou you and the fine hum are doing some fantastic things and I think that helpsto to lay little bit of groundwork about today's topic. You know whatwe're we be talking about, how the modern marketer has actually become adata doctor. So you know he tell me a little about this. Thats Metaphor aboutthis analogy: What are we kinda talking about today? Yeah, absolutely Jonathan,so you know, if you all think about it right, O K, a doctor, diagnoses firstand then prescribes medicine next. So if I have called the doctor learnsabout my symptoms, such as you know, what's my temperature? What's my bloodpressure, you know, do I have pain somewhere, know etcra before matchingthe right medicine or right treatment with my symptoms? So if you think aboutit, a marketer is really no different, learns about the customer needs andmatches with the right solution and a message. The better. The needs areunderstood, the more effective the messages needing to improve conversions.So all of this from a conceptual standpoint, is not really new, but whatis new is that a lot of the data that wasn't available previously isavailable now, which means that...

...marketers can now access and act on themillions of you know this customer signal data. One of the questions thatI often get H. Jonathan, is you know? What do you mean by signal? So signalsare activities from people that indicate their potential needs andbuying intent, so examples could be putting out an art of pe out there. Youknow hiding for people, mordernizing systems or processies risk ofCypersecurity. You know which a lot of people have been talking about itrecently and there can be billions of signals depending on product serviceindustry et Cetea, so this signal data can be used to determine the rightcustomer profine that informs US whos likey to buy your products and servicesand, more importantly, why so in many ways more than workitters are becomingpart data doctors yeah, I think I've. Even I've said it on on the show beforethat you know we have this sort of unbelievable access to to data datapoints. It's just there's so much data to be had and to use and extent it canbe overwhelming. And it's you know it's Beit's, this idea of okay. You knowwhat data is most important. What do you track? How do you use it and it hasbecome- is incredibly complicated sort of landscape to navigate, and so Ialmost feel like the doctor, analogies Ev. Even more appropriate because youknow when, when you think o Hea you ow doctors go through all this schoolingand how much you know they have to t, keep track of, and the education andeverything that goes into it. It's such an incredibly important and complicatedjob and process, and so for modern marketers. Obviously this is this is ananalogy, but it is, you know there is more complicated than it ever has beenbefore, so it requires an additional level of of of thought of of Finaso M Kagain. Another reason why we're excited...

...to have you on the show and talk aboutthis. Now we do have a few keytakeways as we're talking about how that dataholds the keys to understanding the customers in their needs. So Vj, let'stalk about, then you know. In your estimation, what is the core functionof marketing yeah? So, if I think about it, I have never seen a marketor getinto trouble for successfully creating a lot of customer interests andinvestment and those who do it again and again sort ofe become irreplaceablein their organizations. So I think about the essential function ofmarketing is to really create customers from interest to investment m again andagain, and all the activities that t at that. We think about. You- know Beit,creating content campaign, creation, building communities or branddevelopment digital transformation. So all of this really support thiseoutcomes off the Acensian function of marketing. You know creating customersfrom interest, ro investment, and when you say investment you know 'cause,maybe maybe the lines have been blurred a bit between Um sales and marketingthese days, especially, you know, if you're into ABM and N, you align yourteams. When you talk about investment on the marketing site, I mean. Are youtalking about? You know a financial investment and emotional investment, orjust a a personal investment that you know now we can start talking about anactual sale yeah. So the t there are two part straight so thet is both theemotional investment getting the customer emotionally interested in newbrand in your product and service, but also getting the financial investmentgetting the customer to sign the check whut. Of course, you know sales wouldcome into plain there, and the role of a marketer would become salesenablement. You know once once the engagement you know with the salesteams actually starts so bed the ABM B, providing an effective content and andcontinuing that path from the interest...

...where there is a lot more involvementfrom a marketing standpoint, but as you go through the the final step ofgetting the customer to actually getting to write the check or invest,and so there's obviously a lot of opportunity for marketer to help thesales, as well as the customer to actually buy in Mhm Yeh, absolutelyokay, so another takeway that we're going to be touching on is this idea ofthat. You know understanding the customers we've touched on it. A littlebit in terms of we've got all of this data. But what does it really take tothen understand your customer yeah so to create the customer interest andinvestment and keep them and, of course, sensfy them? You One understand whoyour customers are both new and existing, not only who they are, butwhat their needs are. Why did they invest all of the squestions that areimportant to be able to tarket the right customers? So this requires acustomer three sixty data. So if you were to think of the customer data as abrain, it would have two parts, the left, brain and their hight brain, soto speak, so one part is typically distributed across all your internalsystems, such as Europ Crm, marketing, et Cetera, where the data tends to bemostly structured and is like the left, rain and another part of the data livesexternally, where you know it's wosteunstructured and it's like theript brain, we want boat that the left and the right brains come together or atwo three hundred and sixty Y greview. To best understand your customar needsan intend. So let me give an example: When the marketing team looked at theinternal data of a media company, all of the customer attributes lookedso similar that the team struggled to come up with meaningful set of segmentsto invest in, and so that's when sort of speak. We brought the right brain inand added external data external signals, such as how mature theirdigital marketing is, whether the...

...potential customers or suo optimized,how warden theyare, marteting, Technologi Stackis et Cetera, a clearerpicture emerged, and what we noticed is that companies that were digitallymature and technology savve in certain industries represented the largestopportunities and as a result of which the opportunities went up by tenfold, and so the question to ask really formarketers is: Do you have access to all the data internal and the external, theleft and the right rains to be able to understand the customoneds and to planaffectively Wellthis is great. We're not we're not only asking our listenersto become data, doctors, we're asking them to become data, brain surgeons. Ifeel like at this pant next level we're talking about here,but it makes a lot of sense and so you're understanding the customer. Whatare An- and you have then a couple of different, several different dimensionsto the data? Let's, let's talk about that. So, just like a doctor how he or shewould use all the truths to be able to get lis of all the symptoms and all thedata about the patients so similar to that, once you have access to all thedata, you have a customer three sixty Veu, then you want to be able todiagnose and you woN'to be able to answer questions such as whis likely tobuy and why and when and how should I reach aute them and the answers to theswass really in a lie in three dimensions. So there is, there is whatwe call the fift. We call the intent and the timing. So if you think aboutthe fit, it's really afbout, similar customers, Sivilar successful customersfrom the historical data based on the internal data such as thephormographics and demographics et CRA, the intent Isabar the readiness to buy.So this is based on all the external...

...data, such as certain action, such asleadership change or hiring or changes in technology and so on and so forth.And and finally, the timing gives us an idea on whether the customer is looking to makea decision this week or this month ar this quarter and really the Inter playbetween these three dimensions can help. prooritize your marketing investments,for example, accounts that have you know, high fit and high intent.Probably you want to invest majorlity of your budgets for multitouchcampaigns. You know from call downs to social campaigns to emain. What haveyou and then one of the interesting things about this is once you have thecustomer thre six to Yu once you have all this dimensions by any opportunitythat you have in the pipeline or somebody visiting your website. Youcould also floow them through this engine and ranked them real time forbetter proidization. Vj is obviously you said that all three of thesedimensions, there's there's overlap and innerplay. Of course there is. Itsounds a little bit like the the intent that was is incredibly linked to thetiming in terms of the intent. You said that there'se certain markers, you knowif there's growth or leadership change or or whatever it is I mean, is it? Isthat o one to one sort of correlation with the timing? Or there is stilldefinitely some some nuance there between the two yeah there's, certainlya lot of new ones. Actually, so there is, the timing sometimes can be verydirect. So when you see an rfpout there, so clearly people are have cetain timetimelines and Winstans, where there are a lot of other signals where the timingis not very clear or it may be a subtln indication of timing, and so that'swhere the ability to really bring in muntiple data and tryand relate adifferent different data to be able to arrive at the timing, e's, actually animportant skill to have as well and-...

...and so that's where the diagnosisbecomes important and the more data that you have, the easier it becomes tobe able to call out the timing. MHM and speaking of you know, gatering more andmore data tjusthis fourth takeaway is about continuous improvement. Tell tellus a little about what you mean by continuous improvement and what thatmeans for your company. So there is a there's, a famous legend about theorigin of chess. That's that's my favorite story. That goes somethinglike this and I think many of your listeners might have heard about thiswhen the inventor of the game showed it to the emperor. The emperor was soimpressed by that. He asked the Maman to name a reward. The man apparentlysaid, give me one grain of rice for the first Squire of the chessboard, twoGrans for the next square, four for the next eight for next and soon for allsixty four squares with each quire, obviously having doubled the number ofNanes as the squire before the emperor agreed amazed that the man had askedfor such a small rewarder. So he thought after a week the treasure came back andinformed that the reward would have add up to an astronomical sum for greaterthan all the rice in the entire kingdom and and so if you were to apply thesame analogy to business or marketing. If the convulsions improve six percentevery month, onth after month, they were double in a year. So the idea isto have a continuous learning system in place that takes the feetback andconstantly improving the data, and the models are to be able to go back nd Dand improve the conversions in this particular case. So such a system wouldact like compounding, and I want to give one example. So: EC, a technologycompany that we're working with was looking at some of the signals, such asPex, worses KAPEC, which is important to determine if the COMPANYS loive tocloud solutions worses on premise,...

...things like barden work, place hidringfor Iot products in exceptre. There were lots and lots of signals, so thiscompany was able to increase their lead to opporturity conversions by overthree acts, but three times in just three cycles. By having such acontinuous learning system in place where, after every way, you would learnabout not just what is working well, but whatis also not working well and how do you treak Te Morin? What are some of theother signals that Youd need to get to be able to improve the convesions MHMyeah yea, you know V, I studied economics in in Undergrad and I sort ofremember remember that Tad ches story an always.It always tickles me, and it's a great you know it's a great example. It'svery it's it's a very powerful example to show you know the power of compoundinterest, and that is, you know, SOM people. Think about that. Of course,when you're talking about financial planning, but but of course it canapply to something even within your own business. So I think that's a greatexample MJ. You know for the people listening right now. If what wouldmaybe be a suggestion, you have some maybe next best steps if theythemselves are looking to sort of become more proficient data doctorsthemselves when it comes to marketing. Do you have a I mean? Do you have acouple of things otey that they can take back to their company and andstart thinking about or implementing today, after this episode, Yeah,Absolutely Jonathan? So the benefits of continuous learning is in overtime,looks magical, Bu, but real. So couple of questions that we ask ourselvesinternally, as we are using our own tools and as we are trying to grow justlike any other business and h. Some of the questions that we ask our customersas well t they're, really tree that th t thatre Thar important the first oneis: Do you have a continuous learning...

...engine in place, so the optimization,whether it's the marketing optimization, whether you're running a campaign orwhatever activity that you're trying to perform, is always on and not a onetime thing? And if you have to achieve the benefits of the continous learningengine, then the second question is, or you leveradgin all the data and thetroots. Do you have access to all all the data and do you have the righttrooth to be able to make sense out of it and ask the types of the questionsthat you're trying to ask? And then, finally, one of the one of thepainpoints that we commonly encounter as people are looking to deploy acontinuous learning engine and levelaging the data and the truths isthe data quality, and so that's sometimes wor wll look and sometimeswhat happens is when you have lot of data and that doesn't look good. Ittends to discorage people, so I think it's important to have the rightquality systems in place to make sure that all the data that you're lookingat is actually highly accurate and makes sense for you to apply all thetrooths that you have are and to feed in into the continous learning egidentplace, pervects well, Vegia. I think these were some tremendous. Take awaysome great first steps for our listeners. I always love being able toleave them with some sort of actionable piece of advice at the end of theepisode. So you just you knocked it out of the park with that. The J, if any ofour listeners are interested in following up with you, they wanta theywant to find out more about today's topic. They want to find out more aboutabout you and find you know, what's the best way for them to go about doingthat yeah, so we can be reached at ww that find that calm. That's two ice F,I I N D, there's a lot more resources and tools and a lot of content outthere that you can check out and I'd welcome any quashions inequaries. I canbe reached at H, VJ AT INCOM B I j Ay at Iin d, Dot, com and Jonathan. It'sit's a pleasure to be here. Well, thank...

...you so much for Yois a pleasure havingyou on the show. Thank you so much for your time today. Thank you and thanksto all the MISES AFE you've been getting value from thispodcast. You can help us reach more people by reviewing the show, an ItenesHereis, how you can leave a review in less than a minute open your pod castout and taple search icon in t e bottom rad corner type in B to b growth thenselect our shel once you're, there tap the reviews to have and tell us whatyou think of the shelf. These reviews help us out of time. Thank you so muchfor listening until next time.

In-Stream Audio Search

NEW

Search across all episodes within this podcast

Episodes (1621)