Data enrichment provider Clay raised $40 million in a Series B expansion Wednesday, which gives the company a valuation of $1.25 billion. If data truly in the new oil, Clay is beginning to look like its John D. Rockefeller.
Clay has a couple of proffers that it hopes will excite users. First, like a number of its competitors, AI and automations to help ease the manual burden of researching accounts and prospects. Second, Clay integrates with dozens of data providers, which makes it a one-stop shop for data.
In the data world, speed and accuracy are everything. The faster teams can get their hands on good, quality data, the faster they put it to use, create personalized messages and get in front of the right people.
As Clay grew to its current valuation, social media platforms like LinkedIn and YouTube started to see an influx of posts from people working in sales and startups showing how they use Clay in their cold email outreach workflows.
But marketers who are turned off by cold email strategies should be careful about lumping Clay in with other tools often mentioned by the mass cold emailing crowd.
Dig deeper: A new tech stack for cold email outreach is taking shape
Clay is a powerful data enrichment platform that marketers from startups to enterprises can use to build marketing campaigns.
Forget cold email: 6 marketing use cases for Clay
Account-based marketing
Marketers running ABM campaigns need to identify key accounts at the outset, which is an area where Clay can help. But Clay can also deliver the data to enrich the profiles of those accounts, going as far as providing information on the tools in their tech stack, recent funding and more. All of this data helps marketers tailor their outreach to the prospects at these accounts.
Intent data
Clay has intent data to help marketers identify prospects who are actively researching solutions. Quality intent data helps with timely and relevant outreach, which theoretically increases engagement and conversion rates.
Content personalization
The more you know about a prospect or customer, the more personalization you can add to your messaging. Data helps you build messages that address the specific pain points and challenges of your audience and gives you an opportunity to demonstrate how your products or services will offer a solution.
Audience segmentation
What can you do in terms of audience segmentation? Let us count the ways: by industry, company size, revenue, job title, technology usage, geography and more. Clay will help you identify all of the widget makers in your state and help you create personalized messages to connect with them.
Lead scoring
Your lead scoring strategy likely involved matching leads with some type of ideal customer profile (ICP). Data from Clay will help fill in the blanks by enriching existing data and helping develop a more accurate score, increasing the chance of conversion.
Competitive intelligence
Everyone wants to gain insights into their competitors’ strategies, tactics and performance. Much of that information can be found in data, including data you can get from Clay. With competitive intelligence in hand, marketers can tailor their marketing outreach for competitive displacement campaigns and emphasize their strengths and the competition’s weaknesses.
Dig deeper: How to choose a data enrichment solution
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