How Red Hat Closed $7M of Marketing Influenced Pipeline using Priority Engine
An interview with technology sales & marketing innovator, Isabel Morcillo, EMEA Senior Program Marketing Manager at Red Hat
Red Hat is a leading provider of enterprise open source software solutions. Isabel is responsible for all Program Marketing activities around the cloud, hybrid cloud and automation business in Europe. Find her on LinkedIn here.
What are some challenges you were trying to address when bringing in Priority Engine?
The main challenge we were looking to solve when purchasing Priority Engine was really to generate more qualified leads that were in market for us. We needed a way to identify the accounts and prospects actively looking to solve problems where we have solutions to offer around Automating IT. We also wanted a solution that would help us target our strategic accounts.
Let’s discuss one of your most recent Priority Engine campaigns – Tell us a little about the campaign and your objectives.
One of our most recent Priority Engine campaigns was focused on targeting companies using a community version of our Ansible Automation software, companies that had also been in contact with us previously or companies researching our solution or a similar solution. We knew that we wanted to reach these people to reinforce the benefits of our enterprise-level solution.
How did you set up Priority Engine to support this campaign? Walk us through the process and workflow for your marketing and sales teams.
We started by setting up Segments in Priority Engine that consisted of uploading accounts that had engaged with us in previous campaigns that were showing interest in our solutions. We also used parameters in Priority Engine to determine enterprise prospects interacting with competitor technology and a list to determine those that were researching solutions that we could solve for, for example, networking automation, security automation and IT automation. These different Segments helped us cover a good breadth of prospective customers that we wanted to reach.
If the Priority Engine leads had engaged with several pieces of content as part of our syndication program, they would go into a specific nurture for follow-up. We set up automatic exports for leads to flow into our Marketing Automation Platform, Eloqua, so we could put them into a multi-touch nurture track. We use a prioritization model that identifies the top leads that have interacted on several different instances. We also have the insights from Priority Engine added into Salesforce so our sellers can use that data and intelligence to tailor their outreach.
We have been able to really move the needle by using Priority Engine. It has helped us tremendously in identifying and reaching the people and companies in-market for us.”
How did Priority Engine help accomplish your campaign goals? What results did you see?
We have been able to really move the needle by using Priority Engine – It has helped us tremendously in identifying and reaching the people and companies in-market for us. Specific to this campaign, we found 2,500 new, in-market contacts that we added into our database. We had 3,500 interactions with MT leads that downloaded our content, equating to an opportunity value of $33M. For pipelined opportunities, we converted 500, which had an opportunity value of $20M, which is quite good. Finally, we had 200 opportunities in terms of business won, equaling $7M in real closed business.1
Tell us about your experience with the TechTarget Team?
The TechTarget team is incredibly helpful and provides us with good advice on how to be the most successful with our campaigns. They understand our business and our goals, so they know how to approach each campaign and can recommend which assets to use for content syndication.
Can you share some of your favorite things about using Priority Engine?
First and foremost, my favorite thing about Priority Engine is the excellent results we’ve seen with intent data – The leads are high in quality and after being nurtured quickly convert into real business. Priority Engine also allows us to take a very targeted and strategic approach. The leads from Priority Engine are already quite qualified. Using this campaign as an example, when you combine Priority Engine leads with the fact we were targeting customers that we already had in our pipeline, we see higher conversion rates.
We also really like how well our systems integrate with Priority Engine – all of our data matches up and flows properly so we don’t have to worry about dealing with one-off manual lead issues. And of course, as mentioned, I enjoy working with TechTarget, and the advice we get from the team is beneficial in making things operate smoothly.
A big thank you to Isabel for sharing some feedback with us. We look forward to hearing about more of your wins using TechTarget products in the future!
If you’re interested in sharing your TechTarget story with us, feel free to reach out to Sarah Geissler.
1 – Source: Marketing Performance KPI Health dashboard – Marketing Touched, NVR New, EMEA. SYB