How Infomedia uses Vainu to better understand its customers and market.

Key takeaways

• Infomedia is the leading media intelligence provider in the Nordics and the owner of Opoint, the world's leading provider of online news data and global news monitoring technology.
• Infomedia wanted to improve its understanding of its customers and market to secure future growth and profitability.

• Together with Vainu, Infomedia was able to completely revamp the way it segmented the market.

The company

Infomedia was founded in 2002 just as computer and internet access were becoming staples in the average Danish household. To translate the chaotic media landscape into insights that strengthen their clients’ strategic initiatives across business areas, markets, and borders, Infomedia offers various solutions, most prominently media monitoring and media analysis and advisory.

Of note, Infomedia owns Opoint, the world's leading provider of online news data and global news monitoring technology. Via Opoint, Infomedia provides its clients with a global media archive of more than 7 billion news articles from more than 178,000 news media across the globe.

The challenge

Infomedia's primary goal—as it is for all companies at the end of the day—was to improve growth and profitability. This made them realize they needed to understand their customers and market better. "We wanted to understand our customers and the potential in the market a little bit better to secure our growth targets but also, of course, understand a little bit better what we're good at for the kinds of companies that typically look into our offerings and also, of course, to secure profitability on all levels within the business," explains Dennis Mølgaard, Country Manager, Denmark at Infomedia.

But why go for Vainu? One, because outsourcing it to external consultants was very expensive. Two, because they realized they could do it themselves, but to "crack it," Dennis realized that they were missing some data points. "I had meetings with some very popular consultancy firms, and I got some really, really expensive offers for doing this ICP analysis... At the end of the day, I thought that I could probably do a lot of this myself, but I couldn't take it all the way because we were missing some data points. We did a lot of internal analyses based on our own data, the data points we had, and we saw a very clear picture of what this could look like, but to crack it, I knew we were missing some data points. And I didn't think a well-known consultancy company could help me so much with that," Dennis explains.

The use cases

Enriching their CRM

"We use Vainu data to enrich our CRM... We have a fairly basic setup with Vainu where we enrich our accounts with different kinds of data," Dennis explains. Infomedia sees the upside of directly accessing a vast range of up-to-date company data in its CRM. Thankfully, Infomedia uses Salesforce as its CRM, so connecting with Vainu's company database was simple due to our native Salesforce integration.

ICP analysis and segmentation of their total addressable market (TAM)

An important goal for Infomedia was getting a better understanding of its customers and their total addressable market (TAM). Helping them solve this challenge ultimately formed the bedrock of the most recent Vainu-Infomedia collaboration. Dennis explains, "Vainu did some magic, and we, together, came up with a better understanding of how to actually segment our market." And this improved understanding of how to segment its market has unlocked substantial value for Infomedia.

Utilizing triggers in their sales processes

Dennis and the team at Infomedia already knew the value of company data, but they weren't always getting push notifications when changes in their target accounts occurred. This changed when Dennis and the team realized Workflow Trigger's potential after conducting their ICP analysis and segmenting the market. Since then, they've built a workflow that triggers automatically when an account meets their criteria on a number of different data points, including number of employees, social media index, website keywords, and website rank. "That did the trick. We ran a lot of tests...to see if this would fit, and I actually think it fits 70-80% of the time, which is really really good," Dennis says, speaking of their trigger setup.