Lucidity garnered 30% conversions from the SOM leads mapped via ABM

Lucidity solves the most common problem that every SaaS company encounters around storage. The increase in cloud storage cost for every software is directly proportional to its usage. In order to ensure that the applications do not encounter downtime during business intensive periods, client side devops teams usually over provision their storages by paying over 80% of the actual cost.

With Lucidity, these devops teams can ease upas it automatically alters the storage based on their usage thereby saving almost 70% of cost incurred on cloud storage for most of their clients. Lucidity initially reached out to TripleDart to scale their paid marketing efforts, based on the success rate observed and the direct impact on TAM, we were able to pivot into executing ABM strategy within a quarter.

Problem

• As an early stage startup, their Inbound marketing channel was nascent with no observations or learnings
• Working on a customer acquisition strategy with no history of qualified leads leveraged from inbound was a known blocker
• Defining a media plan and campaign structure based on the demographics of the brands in pipeline

Challenges

• Deriving a media plan for their paid campaigns from scratch with no historic data was a hassle
• We had reviewed some active opportunities to define the best targeting mechanism
• We initiated the partnership with a Paid Media plan and transitioned to an ABM effort within a quarter to make the most out of Lucidity’s TAM within the planned budget.

Strategy

• TripleDart initiated the partnership with a detailed Market Research and Competitor analysis to make sure that the investment translates to desired results
• Initially, we worked on a customer acquisition strategy directly targeted towards personas like CVPs of Infrastructure at varied SaaS companies
• Though this approach was successful, we wanted to garner direct SQOs from the leads acquired
• We pivoted our scope of work to include ABM efforts to ensure that we narrowed down our targeting from TAM to include only Serviceable Available Market (SAM)and eventually Serviceable Obtainable Market (SOM).
• The account-level filtration was followed by persona-level filtration on targeting to ensure we tapped on accounts with an active need for Lucidity and leads with authority
• Since we took the ABM route, we were able to qualify the accounts and leads based on their need and authority from the intent observed (based on user interaction with ads & assets)
• At the end of one quarter, we were able to acquire two customer and six partnership opportunities for Lucidity
• This includes partnerships with service giants like Kyndryl, Mckinsey and Deloitte which paved way for multiple SQOs with other tech brands

‍