Martech Awards case study: How Webeo won Gold for ‘UK-founded martech vendor of the year’
Since being founded in 2017, Webeo’s mission has been to champion conversion rate optimisation (CRO) in B2B through the power of website personalisation.
From empowering marketers with top of the funnel firmographic personalisation using their flagship IP database, persona based personalisation using customers first party data and both real time and progressive behavioural based personalisation. Webeo have built a product which truly supports all the CRO needs of the B2B marketer in one easy to use measurable place. Webeo gives B2B marketers control of their website, enabling agility to drive real business results.
Webeo’s no code, plug and play solution has put marketers from B2B brands including Unit4, Smartrecruiters, JustEat for business and Basware back in the driving seat for their website, particularly in the innovative technology space where growth marketing is hotter than ever and the website is central to this.
They’ve been leading the movement to support marketers to refuse to accept poor conversion rates and understand that there is another way than simply adding more spend to drive traffic.
In 2021, customers delivered over 3.2 million personalised experiences to their buyers using Webeo with an average conversion uplift of 135% across our 100 strong customer base. Their product continues to develop as they move into further capabilities around experimentation and AB testing as well as adding more integrations to ensure they play nicely with every customers’ tech stack.
Personalisation is hot. As consumers we expect it. As B2B marketers we know it’s essential. We worship at the altar of ABM, creating highly relevant and personalised campaigns for our highest value prospects and customers. Here’s the problem…. our website is failing us. If all these hyper personalised activities are replicating our best salesperson, our website is imitating the worst. Generic, un-personalised, making the buyer work hard to find what’s most important to them. The list goes on. Webeo solves that problem.
Using data from one of the world’s largest IP databases through sister brand Lead Forensics, Webeo embarked on their mission to deliver the power of personalisation into the hands of marketers who need it most.
Their initial beta customers realised positive results the privately owned business invested in best in-class-product teams and leadership to take Webeo to the next level. In 2021 the company had revenues of over £2 million, is growing rapidly and has extended into the US market with 40% of the customers in America.
Webeo’s mission is clear, to provide a solution which delivers a measurable return for customers with a specific focus on B2B, which is under serviced in the CRO space.
Reporting within Webeo is a primary focus, as a SAAS business they want customers to easily see the results in the tool to make retention a no-brainer.
- Built in IP database which provides real time firmographic personalisation as soon as a visitor hits the website.
- Personalisation insight. Since 2018 Webeo have been collecting data on what works from a personalisation perspective for customers so they can advise them on where to focus their energies, becoming a full CRO partner.
About Webeo’s solutions
B2B marketers are in pain, more pain than they acknowledge. Let’s face it, we are happy to accept that 95% of buyers who visit our websites never convert. We’ve been conditioned to accept that this is ok or even good and we need to do better.
Any B2B marketer in a demand focused role whether that be at scale, from high value ABM prospects or from existing customers knows that the website plays an essential part in that journey.
Marketers have two options:
- Invest more budget in driving traffic to their websites.
- Increase the conversion of those buyers who visit their website.
Most good marketers have exhausted option one or know this will eventually become unprofitable so they are stuck. Webeo help them understand the huge business potential of investment in B2B CRO and provide the tools and guidance for them to leverage this effectively.
About Webeo’s customers
European and US B2B organisations.
- Technology (Particularly SaaS).
- Business/Professional services.
- B2B ecommerce.
- 100-2000 employees.
Customers must have enough traffic to serve a personalised experience so Webeo delivers success - 15k visits or above a month. With this traffic level Webeo delivers positive ROI and the customer is unlikely to churn. Webeo doesn’t work with customers below this threshold unless they use a different measure for success.
- CMO – Decision maker.
- Digital Marketing Director – Influencer/Decision maker.
- Digital Marketing Manager – Influencer.
Post purchase the digital team use Webeo with the CMO attending monthly meetings and QBR’s to discuss results. Customers have joint customer success plans which establish why they bought Webeo and how they plan to measure its success. Each customers’ personalisation strategy is determined as a direct result of these success measures and monthly actions are created accordingly.
Customer satisfaction, loyalty and development
Two key measures of success:
- NPS Score: As a growing SAAS organisation the benchmark NPS is set at 35 and 40 was achieved in 2021.
- Net retention rate: Currently at 80%.
- CSAT sent to customers post onboarding.
- Product CSAT sent once customers have reached time to value.
- Benchmark of 4/5 is consistently achieved.
New product developments are rolled out to all customers, a decision made to support customers post-Covid.
In H2 2022 new product developments will be modulised, to support upsell and cross-sell opportunities.
Webeo have encouraged customers to be vocal on their opinion of Webeo outside of the organisation.
This has led to an average G2 review score of 4.4 and Webeo being named as a G2 high performer overall in 2021 and within the mid-market space. Webeo were named a G2 Personalisation Software leader and awarded the 'Users love us' badge.
Webeo were shortlisted for the following awards:
- Best tool for B2B digital marketing: Digiday awards.
- Martech vendor of the year: B2B Marketing Martech awards.
- UK founded martech vendor of the year.
2021 product developments made as part of the following strategic objectives:
1. Empowering customers to personalise to every visitor to their website:
- Behavioural personalisation allowing customers to respond to previous buyer behaviour such as a returning visit, pages viewed on last visit and action taken (e.g. content download/demo request) This progressive profiling takes personalisation beyond firmographic into persona based and can be combined with firmographic data to maximise results.
- Marketo Smartlists and Hubspot contacts audiences – giving customers the ability to build audiences at persona level in a highly segmented way using their own first party data.
- Experimentation and AB testing module.
- Real time behavioural personalisation and chatbot rolled out to Beta customers.
2. Making reporting essential to customers decision making
- Two-way integration into HubSpot and Marketo – so customers can see when a visitor was personalised to using Webeo in their own platforms, making attribution easier.
- Building statistical significance into product. When customers review the results of experiments or tests, they want to be able to see at a glance if they are able to make a business decision based on the results they are looking at.
Market engagement and/or leadership
Webeo understands the need to educate B2B buyers on their personalisation strategy. They have a unique voice with the data and insight from our customers campaigns which they are passionate about sharing in an amalgamated way through thought-leadership.
In 2021 the focus was on educating marketers on the “Personalisation gap” and how they could work towards filling this in the most effective way with real world insight on what is working for customers.
Webeo shared performance and personalisation insight with customer Smartrecruiters at the B2B marketing conference, showing how personalisation can be used at all stages of the ABM journey.
CEO Kirsty Dawe is a DMA B2B Council member who is regularly invited to speak at conferences and events including the DMA and B2B Marketing.
Webeo revenues grew to £2 million in 2021 (70% up on previous year) and current valuation is c £20m.
Webeo are the largest pure play B2B personalisation software globally and the only platform with its own IP data. New customer acquisition was £1.1m.
Gareth Case, CMO, Redstor
"Webeo is a powerful low-touch solution that makes a big impact. For a relatively modest investment in time, money and resources, we’ve seen an increase in onsite conversion of over 275% which makes a significant impact on the bottom line”
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