Challenge
Our resourcefulness and smart use of digital technology made all the difference for Verodin. In early 2019, Verodin hired a new Chief Marketing Officer, Tracey Moon. Tracey has a history of generating massive investor value, most recently revamping the go-to-market programs for one of the largest multi-national digital enablement companies, Brillio. She was hired at Verodin to help them revamp their outreach and create the needed visibility for Verodin to get acquired. Our strategy and the tactical work we performed for her had a massive impact on her goals. Working closely with our team on their industry’s key conference (RSA), Tracey and the Verodin marketing group let us know right away that the spikes in web traffic to key pages increased by over 500%. She also shared that we packed Verodin’s booth. They had a line of people across the event floor waiting to see the Verodin Security Instrumentation Platform in action. What’s even more interesting is that the buzz created at RSA had the industry talking and people watching Verodin. The momentum Tracey asked for had happened. And, the buzz drew big players to take notice of Verodin. Fast forward to May 2019 and FireEye announces the acquisition of Verodin for $250 million. Was the buzz created at RSA a contributor to this? We’ll let you be the judge of that. Verodin is the leader in Security Instrumentation, a category they created, and the technology is recognized as a disruptive approach and critical need that fills a wide gap in the industry. Their Security Instrumentation Platform (SIP) helps organizations demonstrate the value received from security through a data-driven, evidence-based approach. SIP enables customers to continuously validate that their cybersecurity controls are fully protecting their business-critical assets, identify and mitigate configuration issues, and optimize their people, processes, and technology. Their technology is highly complex, and naturally interesting, which drew the attention of world-class investors including Bessemer Venture Partners, Blackstone, Capital One Growth Ventures, Cisco Investments, Citi Ventures, ClearSky, Crosslink Capital, Rally Ventures, and TenEleven Ventures. One of the most powerful weaponsin Model B’s arsenal of digital tacticsis the ability to target messageswith such precision thatwe can help influence the verydecision makers Verodin was after. The goal in the beginning of 2019 when Tracey came on board was to implement a two-pronged execution plan: Develop a lead velocity that would not just infuse the pipeline but reduce the time to conversion for the sales team; and Position Verodin as the disruptive leader that it is to generate the right visibility for a potential acquisition in the future. Leading into RSA 2019 in February, we engaged with Tracey and her team to lay out a strategy to support a two-pronged approach. What Tracey knew was that one of the most powerful weapons in ModelB’s arsenal of digital tactics is the ability to target messages with such precision that we can help influence the very decision makers Verodin was after. Whether there are thousands of decision makers, or just a handful, ModelB’s use of existing technologies, our knowledge of the digital advertising landscape, and our strategy team’s ingenuity allows us to reach people with critical messaging that support our clients objectives.
Solution
Leading into RSA Verodin wanted and needed to project a look and feel that was differentiated. Tracey sought to generate the sentiment that everyone should be part of this movement – target buyers and potential investors alike. During this event tens of thousands of industry leaders, customers, and product companies gather to share learnings and engage in 5 days of cybersecurity-related engagements. It’s the largest event in the industry. Tracey asked us to make sure everyone saw Verodin and sensed their presence at RSA. She wanted to make sure that people from around the world knew that Verodin was the leader in SIP, directly messaging their most critical integrations and greatest customer wins. Our Solution Event banners, chachkies, and standard “awareness” wasn’t going to work here. We had over 50,000 people at an event that the largest companies in the country sponsored. The amount of money being spent on marketing by massive, publicly traded organizations around the world would have dwarfed any standard marketing exercise. Instead, we got creative and broke away from the norm. We weren’t going to count on soft approaches or hard to measure “awareness” tactics. We sought a key part of the digital airway. We worked with Tracey to develop a highly targeted advertising strategy that used a combination of social and display platforms that were targeted to the accounts, places, and people that Verodin wanted to reach.
Results
The momentum Tracey asked for had happened. And, the buzz drew big players to take notice of Verodin. This is why we do what we do. We build things together with our clients. We roll up our sleeves, listen to the ask, and then we deliver. So, when we hear stories like this it gives us a jolt of energy to keep innovating and moving forward. And, it’s not just the anecdotal story that we love, but it’s when these stories can be corroborated with incredible result data that we really get jazzed up. During the 4 day period, our ads were seen 749,224 times. We drove over 2,000 clicks to relevant content, at a cost per click floating around $3 dollars. While we optimized the campaign based on the single objective of impressions, the click through rate blew past the industry benchmark of 0.05% by 4x. The best part of this story: When our teammates shared the story with one of our cofounders Dan Bender, he didn’t believe it. Right until he heard it directly from Tracey. Thank you for believing in us, Tracey. We look forward to helping you and Verodin win even bigger feats.
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