PTC’s legacy of Sales and Marketing Innovation dates back to the mid-’90s when they introduced MEDDIC, now one of the most widely used sales methodologies in the world. More recently, PTC’s digital Sales and Marketing transformation, powered by People.ai, has set a new standard for how go-to-market teams can generate pipeline, close deals, and deliver ongoing value to customers.
Challenge statement: With a market cap of over $10 Billion, PTC is used to taking big swings to fuel its growth. Emerging markets such as Augmented Reality and IoT represented promising opportunities, but PTC knew it couldn’t scale Sales and Marketing resources in direct proportion to revenue. To generate greater efficiencies, PTC turned to People.ai to build a more robust contact database, establish a more thorough pipeline inspection process, and generate a deeper understanding of buyer personas.
New Challenges, A New Solution
With a market cap of over $10 Billion, PTC is used to taking big swings to fuel its growth. “As an executive team, we saw significant opportunities across several fronts–fully embracing a SaaS model, and positioning PTC as a leader in the connected AR/IoT space, but we didn’t have unlimited resources to spend. My ability to propose a “do more with less” solution got leadership’s attention and earned their respect,” says Cogan. To deploy the ROI Engine, she and Rashid looked to People.ai for help with three initiatives: building a more robust contact database, establishing a more thorough pipeline inspection process, and generating a deeper understanding of buyer personas and buying unit.
Unlocking New Contacts
With over 6,000 employees, PTC had accumulated a wealth of contact information in employee inboxes. Unfortunately, the Marketing and Sales teams had no way to systematically access data that might help generate leads and accelerate deals. People.ai addressed this problem, using its patented SmartMatch technology to mine business activity trapped in the email system, automatically upload it to CRM, and associate it with the correct accounts and contacts. Within a day of launching, People.ai sourced 40,000 new contacts, adding 35,000 in the next twelve months. Rashid calls out the insights that the data unlocks. “This information feeds into our intent scoring model and shapes the way that Marketing and Sales engage. Whereas before we had an incomplete view of our buying unit, now we get a much more robust perspective on who to engage in an account.”