Recently, we interacted with Dr. Satish Patil, CEO, Mitibase Technologies, an exciting tech startup that helps businesses to consistently generate highly qualified leads and new business opportunities.
Here are the interview highlights:
- Tell us about Mitibase: how was it founded, and what distinguishes Mitibase from other sales intelligence companies?
When we talk to sales, marketing, and revenue teams across the board, almost all [have difficulty cutting through the noise—most follow the same demand generation playbooks and send hundreds of generic sales emails and sequences. The result is that they waste time and resources on targeting low-converting leads, miss their quota, and customer acquisition costs skyrocket. Moreover, they don’t have any unfair advantage because almost all their competitors prospect the same way. So we decided to build a data infrastructure for sales and marketing teams, giving them that unfair advantage while prospecting.
What Mitibase does is help B2B revenue teams find high-converting prospects every month and then help them act on those with automation. We do so by automatically tracking key accounts and contacts for technographic data, job changes, and relationship triggers, surfacing them as warm leads in your sales pipeline. We also help build pipelines quickly with accurate firmographic and technographic data based on your ideal customer profile. Current sales intelligence tools lack this deep integration of relationship data, trigger events, and automation with buyers’ data.
We are a SaaS-based, AI-powered prospecting solution and have created a technology-driven, user-friendly, and business-centric product. The shortest path to revenue is when you combine relationships with trigger events. The former provides trust, and the latter provides context. Our vision is to bring relationship intelligence back into B2B sales and marketing on a much larger scale. We’re building software for how revenue teams want to work and integrating it with their tech stack so they can focus on the job they signed up for—selling and marketing. This unique combination of data, context, relationships, and automation sets us apart from our competitors.
- Tell us more about the unfair advantages B2B sales and marketing teams can have while prospecting. And why are they not able to leverage these unfair advantages?
Identifying ideal customers using location, industry, revenue, size, intent, and many other filters helps build a high-converting pipeline. So the ability to build a hyper-focused list of buyers with accurate data is an unfair advantage. Targeting companies based on the tech they have—or are missing—in their stacks has a better chance of turning them into sales. Focusing on companies that buy what you sell is also an unfair advantage. But getting accurate firmographic, technographic, intent, and contact data is difficult, not easily scalable, and at times not affordable with existing tools.
An organisation’s collective network—the shared network of your colleagues, trusted partners, and allies—can provide a clear pathway to selling into new accounts, sectors, or regions where you have established relationships. Quickly revealing who knows who and how well to uncover warm paths of introduction or new sales opportunities is a significant unfair advantage. But unfortunately, more than 79% of the organisation’s collective network remains hidden in your email inboxes, calendars, and LinkedIn and is not captured in CRM.
Your customers, users, and champions are 4x more likely to buy from you again. And on average, 23% or more of your buyers change jobs every year. Your brand equity stays with them through each promotion and each new organisation they enter. So tracking customers, users, and champions into their new companies is an unfair advantage. In addition, new executives spend around 60% of their budget in the first 90 days. So the ICP-fit new hires and promotions in your target accounts are a powerful intent signal and an unfair advantage because they are looking to invest in new solutions and have the budget to do so. But manually tracking these job changes is both time-consuming and expensive. More importantly, it simply won’t scale. Hence, companies miss 80% of these job changes and triggers.
- Give us a brief overview of the Mitibase platform.
Mitibase is focused on pipeline generation and retention cycles.
Using our advanced filters, you can quickly build lists of prospects or auto-generate lists based on your ideal customer profile, along with verified contact information. You can also target your ideal companies based on the tech they have—or are missing—in their stacks.
Mitibase auto-tracks job changes for all your contacts. Know when your key contacts change roles, leave the company, or join a new one, and automate the outreach to reach out to them.
Mitibase identifies missing key contacts in target or high-intent accounts and creates new contacts directly in your CRM. It also auto-tracks your target accounts for new hires and promotions.
Mitibase captures and enriches contacts from the email inboxes and calendars of key people in your company into your CRM. This will create your company’s collective network. You can invite your colleagues, trusted partners, and allies to share their network and uncover new relationships and warm introductions.
Mitibase refreshes your CRM data every month, flagging old contacts, creating new ones, and updating existing ones, resulting in less than 5% bounce rates. No more copy-and-paste or manual data entry and updates.
Mitibase gives you a personalised and actionable “to-do list” with AI-powered alerts such as single-threaded deals, missing executive engagement, key prospects joining or leaving, and new introduction paths, allowing you to accelerate or de-risk deals proactively.
The feed of the next best actions is sent to the SDR, Marketer, CSM, and RevOps team via email, Slack, Salesforce tasks, etc. Mitibase can trigger these actions with your existing technology stack, routing logic, and workflows. So now you spend less time digging and more time taking action.
- Who are the target customers of Mitibase? And how is Mitibase adding value to them?
Our primary focus so far has been on the midmarket. We work with SaaS, IT services, consulting, and technology product companies. The mid-market is highly underserved at the moment, and there is a clear opportunity to tap this market by combining data, relationships, triggers, and automation for companies.
Mitibase helps marketing teams drive account-based marketing (ABM) to target specific accounts based on segmentation strategies like technographic, warm introduction paths, and previous associations to generate qualified pipelines.
Mitibase helps sales teams stay on top of key personnel changes in target accounts, identify warm intros, see intent triggers in your target accounts, and easily multi-thread with actionable alerts to 5X their win rates.
The customer success teams use Mitibase to identify stakeholders, make warm introductions to drive adoption and expansion, and know if there are key job changes to prevent churn risks.
Mitibase helps RevOps teams do all the data prep work for them, refresh the CRM data every month, integrate all the recommended actions with the existing tech stack and workflow, and keep the CRM hygiene they always dream of.
- How do you see B2B sales and marketing evolving in the future?
The shifting dynamics of B2B sales and marketing and current economic conditions have heightened the importance of different approaches and strategies.
Companies will move away from siloed operations towards centralised operations for sales, marketing, and customer success, which will be responsible for the entire organisation and focus on the customer journey. As a result, RevOps will be a key priority for business leaders soon. Companies will implement tools and solutions that bring more automated intelligence to their workflows.
Generative AI will play a pivotal role in the daily work of sales, marketing, and customer success teams to make them more productive and efficient. Business leaders will leverage generative AI to maximize their operations, taking advantage of personalization and internal sales excellence advances.
Relationships will be one of the most significant drivers in sales and marketing functions for customer acquisition, attracting new talent, hiring, and customer support. As a result, we will see more intelligent approaches to harnessing relationship data, contextual data, and operations data together using AI.
Customer education will become an integral part of marketing and sales teams in today’s market fighting for customer attention. A new focus on buyer education, helping them more, and selling less will be the way to build trust and long-lasting customer relationships.
Being authentic and building trust with your buyers will be critical factors for success in the future, and new KPIs will emerge to track these essential dimensions.
- What are the future plans for Mitibase in terms of product, growth, and expansion?
Mitibase will emphasize business growth and expansion in the near future, which includes geographical expansion to reach new domestic and international markets. In addition, we will focus more on strengthening partnerships. Forging strategic collaborations with CRM companies, marketing automation platforms, sales enablement solutions, outsourced sales and marketing agencies, and other stakeholders to increase market presence.
Our team will invest more to develop new, innovative solutions for sales, marketing, and revenue teams. Our product development roadmap includes integrating generative AI technology and graph machine learning with Mitibase, helping sales, marketing, and revenue teams become more productive and efficient and drive better outcomes.
Mitibase will also bring in results-oriented enablement support so that our users can truly harness the data and intelligence we provide.