Greater visibility of the customer journey helped Coverflex improve all tracked KPIs
The growth team at Coverflex were facing the classic customer journey visibility challenge. The team was simply unable to connect all the dots of the multi-touch and multi-stakeholder customer journey.
This lack of visibility meant the team didn’t have full confidence in the data they were collecting, and had an incomplete picture of which touches were contributing to pipeline and revenue.
They needed complete confidence. They needed to tie every touch of every account to pipeline and revenue.
They needed Dreamdata.
Key results Coverflex has achieved since starting with Dreamdata:
Improved all tracked KPIs by identifying the best-performing channels.
Introduced a data-first ethic for experiments.
Transformed the content strategy to focus on pipeline influence.
The challenge: unable to accurately track leading indicators due to missing touchpoints.
Coverflex has always been very aware that they need to convince multiple people within a company across a long period of time to close a deal. However, Google Analytics and Amplitude, the tools they were using at the time, were not sufficient for capturing all the touchpoints by all the stakeholders that lead to a closed-won customer.
“We were missing a lot of data. We weren’t able to gather all the touchpoints a company had in the journey to becoming a closed-won customer. But we knew that was happening. We were just not able to measure all the leading indicators of revenue attribution.”
As Head of Growth, Pedro Costa and his team are tasked with measuring - and delivering - on three primary KPIs.
“We measure leading and lagging indicators: expected ARR closed, New ARR created and Coverage. These KPIs are reviewed on a weekly basis and our initiatives are always addressing these KPIs”
However, as a result of being unable to pull in data from across all their tools, Coverflex didn't have full confidence in their tracked indicators. Which meant they had little visibility of what channels and campaigns were actually behind their revenue.
The solution: tracking every touchpoint of every account.
As the leading B2B revenue attribution platform, Dreamdata was the obvious solution to Coverflex's problem.
Dreamdata provides an automated experience that allows Coverflex to connect all of their go-to-market data sources. Which Dreamdata then automatically transforms, models and delivers ready for use in Coverflex's data warehouse.
With Dreamdata, Coverflex has gained full visibility into all the touchpoints that led to qualified pipeline and closed-won customers. Meaning that Coverflex is now able to confidently measure all the leading indicators of revenue attribution.
“Dreamdata seemed the best option on the market: self-service experience, great support, was able to connect with all the sources we had and also able to integrate other sources using sheets or API and the best part, more than reports!
Dreamdata could do the transformation on the backend for us and give us all the data transformed and ready to use on our data warehouse.”
The results: improved visibility, better allocation of resources, and improved KPIs
“All the KPIs have been improved thanks to having more visibility over the things that work or don’t work.”
Since introducing Dreamdata into its ecosystem, Coverflex has been able to gain complete visibility into the channels and engagement strategies that are driving revenue. These are some of the results the team has achieved as a result:
Improved all tracked KPIs by identifying the best-performing channels
By identifying channels that were bringing results but had “previously gone unnoticed”, Coverflex has been able to optimize their marketing strategy and improve KPIs.
Pedro points in particular to the Revenue Analytics reports in Dreamdata, which have been especially useful for aligning the growth team and ensuring that they are spending their time and resources on the best channels.
Introduced a data-first ethic for experiments
With complete confidence in the data, the Growth team at Coverflex have now introduced a data-first principle for experimentation.
“We are a data-driven team, meaning when anyone in our team gives and idea, that idea should be backed by quantitative or qualitative data and a problem we are having looking at that data. No initiative is moved to “working on” unless everyone knows exactly the size of the problem using data.” added Pedro.
This is ensuring that the team not only remains continually aligned with their KPIs. But also, that waste is kept to an absolute minimum.
Transformed the content strategy to focus on pipeline influence instead of traffic and clicks
Coverflex's inbound/content team has been able to adapt their planning and strategy based on the content consumed by closed won deals.
Previously, the team had to use traffic and hard conversions as indicators for well-performing content. Yet, traffic and clicks don’t necessarily equal deals and dollars. With Dreamdata’s content analytics, the content team now focuses on content types that have brought in revenue, regardless of the traffic.
About Coverflex
Coverflex is on a mission to improve the way companies compensate their people, making it more transparent, flexible and easier for everyone to make the most of what they get.
Through a fully digital solution, Coverflex helps companies manage every part of compensation beyond salary — benefits, insurance, meal allowance and exclusive discounts — while empowering people to spend on what suits them best.
