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Limited Time Only: $348 $295 for Crunchbase Pro ⚡️ | Use Code: CLOSE2020

Industry Outsourcing Services
Use case Data Enrichment
Product Crunchbase Enterprise

Founded in the early 2000s, this business services company is one of the fastest-growing companies in the U.S.

“We had a glaring problem with bad data. We also suffer from having a niche market where data just isn’t readily available. Crunchbase is the best source for this.”

Sr. Director of Sales Operations

Improved Data Quality

Increased Average Deal Size by 67%

Eliminated Lead-Purchase Costs

Problem:
Missed Opportunities Due to Inaccurate Company Data

Over the years, this business services company has built a formidable reputation for being an invaluable partner to startups who need help scaling critical back-office operations.

However, the company’s sales team hit a roadblock. Like many of their peers, they purchased leads from various third-party sources to grow their prospect database. While this sounds like a practical approach to increase reach, it did more harm than good.

The sales team ran into duplication issues and data inaccuracies. This meant they had to spend valuable time fact-checking information, which slowed their ability to prospect efficiently.

They tried to fix the problem by implementing a data enrichment tool, but it proved to be ineffective. In fact, the tool made the problems worse by having outdated information.

As the company’s sales team experienced, inaccurate data is a major headache. It limits the ability to target the right accounts, reduces the number of deals in the pipeline, and ultimately makes it harder for sales teams to hit their quotas.

With the company’s sales team heavily reliant on account data for prospecting, they needed a solution that would solve their data quality problem once and for all.

Solution:
Leverage Crunchbase Pro to Quickly Identify the Right Investors

To solve its data quality problem, the company partnered with Crunchbase. With over 55 million people trusting its data for key insights and opportunities every year, Crunchbase provides unparalleled private company information that’s accurate, comprehensive, and kept up-to-date. This includes traditional firmographic information like company size and location, but also hard-to-find data such as funding rounds and investors.

Using Crunchbase Enterprise, which enables companies to add Crunchbase data to their CRM through an API, the company instantly enriched its data with private company information that provided a level of accuracy that was a far departure from what their team was used to.

“We had a glaring problem with bad data. We also suffer from having a niche market where data just isn’t readily available. Crunchbase is the best source for this.”
– Sr. Director of Sales Operations

In addition, company information in their CRM updated automatically without any work on the sales team’s part, ensuring they always had the most current data. If a company in a specific geographical location raised a new round of funding, for example, they knew about it.

Results:
67% Increase to Average Deal Size Plus Cost Savings

Within one year of using Crunchbase Enterprise, the company increased its average deal size by a healthy 67%.

Using Crunchbase data to automatically enrich their accounts, the company’s sales team finally had private company information they could trust. This meant deeper insight into the companies they were targeting, surfacing net-new prospects, and reducing the number of manual tasks their team had to perform due to bad data.

As an added benefit, the company’s sales team leveraged key buy signals within Crunchbase – such as funding – to hone in on prospects between Series A and C that showed signs of growth. They now had the ability to proactively surface and target prospects that were in a position to use their services, giving them a competitive advantage.

In addition to increasing its average deal size, the company ensured three things with Crunchbase Enterprise:

  1. Their data was always up-to-date, giving their sales team more confidence when prospecting
  2. They significantly reduced the need to buy leads to increase their pool of prospects, which meant cost savings
  3. Their account executives spent less time researching prospects and more time closing deals

As one the company’s Account Executives explained it, “Crunchbase has allowed us to look strategically in the market for up-and-coming, well-funded companies. This enables us to get a foothold in companies early before our competition and grow with them as they scale.”

Crunchbase Enterprise isn’t a cumbersome technology that takes time to learn. It’s a simple, lightweight solution that works with existing workflows and technologies. With the comprehensive data it provides, the company improved its account targeting and gained additional capabilities that allowed its sales team to generate more revenue for the business.

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