How does CaliberMind scoring work?
This knowledge-base article is an overview on how CaliberMind handles engagement scoring, engagement scoring capabilities, examples and best practices.
One of the best uses of CaliberMind is to help manage and understand the engagement coming from specific lists of accounts and contacts. A core tenant of any Account Based Marketing (ABM) strategy is to focus on a specific set of targets and coordinate between marketing and sales to increase their engagement with your organization. This is almost impossible to do without actually measuring engagement. However, most organizations manage customer engagement across multiple platforms, including their Marketing Automation Platform (Marketo, Hubspot, Pardot, Eloqua), their CRM (Salesforce, SAP, Hubspot), website, sales email tool, etc. Since the data is spread out between many platforms, it becomes almost impossible to get a single view of what is going on, at the Account level, across all the data.In addition there are core gaps in the way those systems manage engagement that make it very difficult to see the full picture. For instance most manage engagement at the Contact or Lead level, they don’t understand the importance of role and title in the decision making process, engagement mechanisms don’t decay over time (showing when counts are becoming less engaged), and they don’t provide a framework for creating a single source of truth.CaliberMind solves all of these issues by creating an engagement score that:
- Can see data from all the platforms (MAP, CRM, Website, …)
- Takes into account title, role and level of influence
- Roles up everything to the Account level
- Provides a single source of truth back to both Marketing and Sales
- Normalized data including titles, roles, accounts names
Finally if a system can’t automatically take action upon changes in the engagement score, it really isn’t helping the marketing team scale their ABM processes. CaliberMind can not only measure engagement, it can trigger actions on changes in engagement, closing the loop for the marketing organization.
When you connect CaliberMind to your Marketing Automation Platform, CRM and other data sources it can use any of the data fields when creating the engagement score. Any field available through the connected systems API’s are available for use by CaliberMind.Following are some examples of the field and objects CaliberMind can use when calculating the Engagement score:Salesforce (or other CRM) – Account Fields, Lead Fields, Contact Fields, Opportunity, Customer Objects (ex. Clearbit, 3rd party tools), Custom fields (including formula fields), Activity fields, Stages and Status.Marketing Automation – Account, Lead and Contact fields, engagement levels, Web-site statistics, email statistics (click-through), form fields. Also pull in lead scores you’re already creating in your MAP in aggregate at the account-level.Web-site– Clickstream data including anonymous tracking, which can also be enriched with visitor’s company domain.Ad Engagement – UTM tracking and roll-ups to the Contact and AccountCaliberMind Normalized Identity Graph – Title, Role, Influence level along with different system ids, device ids, and user tracking across your different web properties.
Creating the Score
Once you have figure out what signals are important for you to measure across your different systems, you need to figure out how you want your score structured. CaliberMind is incredibly flexible in that the score can be built from any data source or field, and use different weightings and decay values. It can also use other fields to increase or decrease the value. Your Customer Success manager will help you create the score and additionally we have a do-it-yourself account scoring interface launching in Fall 2018. To create a score we will:
- Decide on the fields across the different platforms that you want in your score
- Figure out the relative weighting of the fields
- Are there any special fields that you want to use to increase/decrease the overall value of the weight – for example if the Title is VP and role is in IT then the score is increased by 20% or if the title is below Director the score is decreased by 50%
- How long is the score valuable for? Is there decay? For example after 60 days a signal is worth 50%, after 180 it is 0.
Example: We want to create a simple engagement score that looks at anyone that responds to an email, downloads a piece of content and has a demo with a sales rep. Additionally we are very interested in Director or above in the Finance organization. The weighting may look like this:
Taking Action on Engagement
Measuring engagement is important, but taking action upon changes in engagement is even more critical. CaliberMind supports taking these actions through the use of workflows and triggers. These workflows can monitor the changes in engagement on pre-defined lists, and then trigger activities in other platforms. Following are some examples of actions that can be taken:
- Engagement levels falling on a list – When the engagement level on accounts within a specific list falls automatically pull in new contacts from a data vendor, create a list and push it to your Marketing Automation platform for an email nurture campaign.
- Engagement level exceeds (N) – When the engagement level on a specific account spikes, alert your sales team through an email, note or task in your CRM.
- Create New Lists – Create new lists using the list builder that takes the engagement score into account to easily create new campaigns, uploads for Ad platforms, or automate emails.
Using the signals coming in from your primary platforms is a critical component of creating an engagement score. However, there are other ways customers may show engagement with your product or interest in your solution. For example intent scores coming from sources like Bombora or Madison Logic. Unknown visitors to your web-site that you de-anonymize using vendors like Versium, Kickfire or Clearbit. These types of signals can be brought directly into CaliberMind as a way of augmenting your engagement score and correlating intent to purchase with who you are truly engaged with.