The world of B2B sales has drastically changed over the past decade due to technology—but even today, sales professionals in many industries still chase leads somewhat aimlessly. Even with the addition of sales and CRM platforms, a great deal of time is wasted on trying to figure out who they should even try sell their products to.
Facten, a Paris Founder Institute portfolio company, is changing this by enabling data-driven life science sales. Led by Founder & CEO Eric Pichon, Facten is a platform that allows life sciences sales professionals to better understand who their prospective customers are.
This could not have come at a more pivotal time for sales professionals, as the world of funnel-based lead management is changing—today today, B2B marketers and sellers increasingly focus on account based marketing. ABM Leadership Alliance (171% increase) and SiriusDecisions (50% increase) both released recent studies highlighting that B2B organizations saw greater deal sizes as a result of account-based marketing. However, like the newest approaches, it takes time to implement, an investment in technology, and most importantly access to the right data. According to CEO Pichon,
Facten is an innovative Sales application for the long tail B2B companies of Science and Technology. Unlike competitors, information is provided not by human experts, but by large clusters of computers running algorithms that scan and analyze every patent, every scientific article, every tender, every public grant.
Using Big Data, Facten Eliminates the Guesswork to Deliver the Facts
This means that sales professionals that need constantly updated information can tap into Facten to see who is within an organization, what influence they have on buying decisions, and what they may already be researching or using. Facten does this through a combination of big data and machine learning.
Specifically, Facten’s database knows who is researching a life science company’s products, researchers who have referenced a competitor, and also potential customers. It even connects with existing platforms like Salesforce, filling in the blanks on more than 10.6 million researchers, 22 million relevant publications, and 1.4 million grants.
For most sales teams, data is both a hindrance and a benefit. That’s where Facten’s AI system comes into play, by building out a social graph of researchers. Once the AI collects the data, it pushes the results out into a lead-gen web app. The software sorts the collected data by geographic territories, by company’s niches within the life sciences, and even down to the individual’s role and how much they are spending on related products. Facten also shows who works with whom within an organization, a vital piece of information for the sales team, as there are often several stakeholders in long-tail sale cycles. CEO Pichon adds,
Our proprietary engine scans and analyzes all accessible scientific articles and builds an objective and complete knowledge graph of the entire scientific ecosystem. Who works on what? With whom? At which institution? Using which products? Facten gives you all the facts so you can develop the right data-driven tactics and grow your business.
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