LACEWORK ACCELERATES REVENUE RESULTING IN MORE MEETINGS AND NEW PIPELINE
increase in booked meetings
in sourced marketing pipeline
THE CHALLENGE: ATTEMPTING TO STAND OUT AND ENGAGE BUYERS FASTER AND MORE EFFECTIVELY
When you’re a high-growth company in a highly competitive market, you need to give your team every advantage in their fight for more market share. That’s exactly what Lacework does. They empower their sales and marketing teams with solutions that increase productivity and accelerate revenue – and the payoff has undeniably been worth the effort.
Lacework is a SaaS platform that delivers a security layer around compliance, host, and container security. They tripled their ARR growth over the last two years. And in a single year, they expanded their team by 75%. Lacework competes against a lot of point solution competitors including McAfee, Check Point, Symantec, and Palo Alto Networks. To succeed against this level of competition, Lacework needs to stand out, reach buyers faster, and engage prospects more effectively.
Lacework’s buyer personas include a wide range of professionals in security and DevOps along with people in executive roles like the CISO, CIO, and CTO. The one thing all these buyers have in common is a shortage of free time. “The people we talk to are super busy people,” says Ryan McCurdy, Lacework’s VP of Demand Generation. “If you can’t book them right then and there, you might miss your opportunity entirely.”
Though the Lacework team was optimizing their website in terms of SEO and brand storytelling, it wasn’t delivering a lot of qualified leads for the SDR team. Compounding the problem was the fact that SDRs were being forced to spend time talking with and trying to qualify the wrong people. “When I think about growing a company, the first thing I think about is whether I’m calling on the right customers,” says Andy Byron, Lacework President. “And, if I am calling on the right customers, am I talking to the right people?”
To keep driving strong growth, Lacework needed to do two things really well: Increase the productivity of their SDR and sales teams and capture a higher number of qualified opportunities.
THE SOLUTION: FILTERING OUT IRRELEVANT LEADS AND INCREASING SPEED TO MEETING
Lacework needed a solution that could help them save time on the front end and speed things up on the back end. Drift’s Revenue Acceleration Platform easily handles both.
IMPROVING SDR AND SALES PRODUCTIVITY AND EFFICIENCY
As Andy notes, the starting point for growth is connecting with the right buyers. More to the point, it’s connecting with the right buyers while avoiding the wrong buyers. Drift helps Lacework efficiently filter conversations so that SDRs don’t waste time trying to convert the wrong people. “The cool thing about Drift is being able to design playbooks so they filter out irrelevant conversations and, if applicable, route them to someone else in the organization, like customer success or support,” explains Ryan.
In addition, Drift’s AI-powered automation provides an adaptive chat experience that practically allows Lacework to set it and forget it. “Drift’s automation solved our site coverage challenges by giving us the ability to engage buyers all across our entire site 24/7,” says Ryan. “The AI bot delivers a great, tailored response as well as a fast track that leads prospects to a conversation with a human when appropriate. Conversations have picked up, and the quality of those conversations has been significantly more engaging.”
As a President, Andy saw automation as a way to increase sales productivity. “When we saw the automation and intelligence built into Drift’s platform, it became really clear that it would help us get more out of my existing SDR team, which would allow me to invest more in my quota-carrying team,” he explains.
Using AI chatbots, Drift is able to qualify prospects without any SDR involvement. It’s like cloning your best SDR and having them available 24/7/365 in an easily scalable format. This creates a better buyer experience by eliminating waiting; and it also frees up SDR time since it doesn’t require manual management or disrupt SDRs with irrelevant chats that lead nowhere. It also saves time for the sales and marketing teams because they don’t have to develop manual workflows – the AI learns on its own and is constantly improving.
Lacework also uses Drift’s Conversational Landing Pages, for a variety of campaigns. “With conversational landing pages, I can essentially create a piece of content – like a ‘light’ ROI or TCO calculator – quickly and easily,” says Ryan. “This has worked really, really well. One high value asset drove about 15 inbound meetings in only 3 weeks, where it used to take 2 months.”
CAPTURING MORE QUALIFIED LEADS MORE QUICKLY
The other half of Lacework’s equation for continued growth involved increasing speed to meeting, effectively shortening the sales cycle. Drift helps on this front by facilitating fast, relevant conversations that increase top-of-funnel speed instead of forcing buyers through a traditional lead nurturing process of forms, follow-up emails, and slow meeting coordination.
“Every marketer in the world deals with the problem of creating a system that enables SDRs to follow up on MQLs, MQAs, and other hot leads in minutes,” says Ryan. “A lot of companies struggle to get even close to that, and the truth is that if you miss that very short window of opportunity, you might never get the lead back on the line.”
Drift helps accelerate meetings by connecting buyers with the right resources instantly. It notifies reps about active prospects and target accounts so they can proactively engage them in real time. “The whole reason for an ABM motion is to avoid wasting time on the wrong things,” says Ryan. “Accelerating the top-of-funnel speed is one of Drift’s strengths. You’re able to give people a fast track.”
Drift also removes friction by automating the process of booking meetings directly in a rep’s calendar. “In the first two months after implementing Drift’s AI bot, we saw a 186% increase in conversations,” says Andy. “More importantly, we had a 400% increase in booking discovery meetings via Drift. That’s phenomenal.”
In general, Drift helped deliver more valuable leads. “There is a difference between driving more opportunities and driving more qualified opportunities,” Andy says. “What we found with Drift was that when we engage prospects at the right time with the right message, their propensity to buy is a lot higher than someone who is just receiving a cold call.”
THE RESULTS: REDUCED FRICTION AND IMPROVED PRODUCTIVITY DELIVER MORE MEETINGS
“Drift is the leader in conversational sales and marketing. No one else allows people to engage the way Drift does,” says Ryan. “It allows my SDRs to be more personalized in their outreach – instead of using a cookie-cutter approach. This absolutely helps conversion. It also helps increase their productivity by ensuring they don’t need to spend time on non-qualified conversations.”
- Triple-digit increase in booked meetings
- Over $7M in sourced marketing pipeline
- 30% faster deal close
- Increased SDR booked discovery meetings by 30% QoQ since Drift was first launched
- 2x boost in website coverage
- 4 new logos and $400K in closed won
- Average sales price increased 100% YoY
Looking ahead, Lacework plans to continue to triple their YoY growth, and Drift is an important part of their plan to meet that lofty goal. “No matter who you talk to, growth is all about getting more with less, increasing qualified opportunities and improving productivity,” says Andy. “We implemented Drift because we believed it would drive revenue up and pay for itself. And, frankly, it’s already paid off.”