BrightFunnel Releases Revenue Waterfall
BrightFunnel, a provider of revenue attribution and forecasting tools for B2B marketers, yesterday launched Revenue Waterfall, which automates lead tracking and analysis during the various stages of the marketing cycle.
The product adds five new functions onto the company's existing offerings, which include campaign performance trackers and revenue predictors. The enhancements will include the Unified Sales and Marketing Funnel, which allows marketers to determine which leads have led to closed deals, where a deal might have gotten stuck, and how long leads take to convert. Automated Cohort Analysis compares performances from quarter to quarter to give businesses a better idea of how they are measuring up against past performance. Dynamic Filters allow users to customize the ways they analyze and view campaigns based on such factors as channels, geographies, and business segments. Real-time Alerts notify marketers of the status of their campaigns. Using Collaboration, a marketer can share screenshots so other members of the organization can take action on their findings.
"Collaboration is key," Nadim Hossain, BrightFunnel's CEO, says. "We're trying to serve up not just data to marketers in a way that's very consumable, but in a way that they can take action on. But if you're going to take action on something, you're not going to be doing it by yourself."
The Revenue Waterfall release is in line with BrightFunnel's mission to cater to the needs of marketers with more insights that will help them adjust to their evolving roles. As the world becomes more digital, marketers, Hossain says, are more liable than ever for the impact they have on a company's revenue. The way a marketer works can send waves throughout the entire organization, all the way up to the CEO, who is concerned that the marketing budget might not be leading to payoffs. "CEOs want to be able to predictably grow their business and make their numbers," Hossain says. "Ask any board member. They're frustrated with marketing metrics, as are CMOs."
Hossain claims that the product is unique because it tears away the need for other cumbersome solutions that rely on business intelligence to analyze the states of existing funnels. "The real value of a platform like ours is time-to-value," he says.
BrightFunnel connects to a CRM system or marketing automation solution (such Marketo and Salesforce Pardot) via API, within a matter of days.
"Everything [in our product] is already built with marketers and stakeholders in mind," Hossain adds, suggesting that it can reduce the time sales and marketers spend updating information in their CRM systems.
"Eighty percent of our customers on the core platform are also using this product, so we've had pretty rapid adoption," Hossain says. One of those customers is SocialChorus, a marketing solutions provider.
"BrightFunnel has played a critical role in my decision-making by giving us a total picture of marketings impact on sales," Dave Hawley, vice president of marketing at SocialChorus, said in a statement. "We now have better visibility into our stage progression velocities and can make scaling decisions with greater certainty."
As of now, Revenue Waterfall integrates exclusively with Salesforce, but BrightFunnel has a roadmap and "is looking forward to connecting with the major players," in the space as a next step.
"There are three tiers [of pricing for the product]," Hossain says. "If you're getting our core product and this [new] product, it stars at about $25,000 a year for small customers."
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