Ocean.io Product Development Team — November 8, 2019
Product update: our algorithms just got smarter
We really don't think it's too much to say our latest product update is going to revolutionize your sales and marketing. It's that good.
From the start, we’ve understood that traditional industry categorization isn’t good enough for targeted B2B marketing. It just doesn’t capture nuance and complexity in the way that’s necessary to unleash your marketing and sales teams.
We’ve written about exactly that before, in fact. We’ve always taken a more sophisticated approach to our classification but we’ve never stopped trying to improve it.
Our latest update includes a game-changing approach to analyzing companies that makes such a big difference to the quality of the results that even we couldn’t quite believe it at first.
We use a proprietary neural network-based algorithm to determine similarities between 420 million companies, which incorporates size, social media presence, and web traffic. That means whatever industry you work in, we can find the companies most similar to your best customer segment for you to target.
It's adding another level of intelligence to our industry categorization. Our algorithm understands when a website means "orange" (the fruit) or "orange" (the colour) so a grocer doesn't seem, for example, as though it has any similarities with an interior decorator.
This approach is both very complex and very cool. Essentially, it means that we can capture every relevant aspect of a company and determine how similar or not that aspect is to other companies – so we can tell you if an “IT and services” company is actually like the small SaaS startups you want to sell to or if it’s an enormous telecoms firm.
More than that, we can tell you just how similar to your ideal customer segment any given company is and rank them accordingly.
And, if you want to know which technologies they use, their social media traction, professional contact information, or where they work, we can help you with that as well.
Starting from scratch: segmentation
Not sure what your best customer segment is? Not a problem. We enhance your CRM data with our meticulously put-together proprietary datasets so we can accurately categorize any company in your CRM and group them with companies that have similar value propositions. We then look at the transactional data to rank these segments in terms of relevance for your business.
The next step is to use those segments to generate Ideal Customer Profiles. You can use these as the basis for your future customer acquisition, either manually or by or inputting them back into the platform where we will identify more potential customers for you based on those criteria.
The list keeps going
That’s not all. We’ve also significantly improved our import/export functionality to make the process smoother than ever, added the capacity to categorize and customize entire lead lists, and upgraded our contact information. To be honest, we’ve improved quite a few more things too but not everything gets to make the list…
Currently, we are engaged in a major operation to further enhance our datasets, meaning our performance will be even better by the next time we update you on what’s happening. So, keep your eyes peeled.
In the mood for sharing?