Leadfeeder is a startup developing software for generating B2B leads from Web Analytics. Pekka Koskinen founded the company with two co-founders, Herkko Kiljunen and Vicent Llongo. Building software companies is what he does. Since 2002 he’s founded four companies and made one exit. He founded Snoobi, a finnish web analytics company, in 2004 and sold it to Fonecta in 2012. He’s also the founder of Solinor and co-founder of Fraktio. His other investments include Cuutio, EzyInsights, Nosto, SmarpShare, Planago, Laskuyritykselle.fi, SportConnect, IroFit and BrandCruises.
Mike: What is it exactly that Leadfeeder.com does?
Pekka: Leadfeeder is a tool that shows you which companies have been visiting your website and not leaving their contact details. To start seeing which companies are on your site and what they’re doing you just sign up at Leadfeeder.com and connect your Google Analytics.
Our tool (app.leadfeeder.com) doesn’t require any extra code on your site because it’s powered by Google Analytics. The signup process is really simple and you don’t have to be technical to start using Leadfeeder. When you connect Leadfeeder to your Google Analytics we automatically show you who’s been visiting your website in the last 30 days and then we give you 30 days of trial time on top of that.
Leadfeeder is aimed at B2B companies and the reason we built it is because we wanted to feed marketing people more leads (their single biggest headache is generating leads) and make sales more intelligent and effective by harnessing web analytics. Every day people ask Google “who is visiting my website” because the typical B2B website has a conversion rate of around 2%. This means lots and lots of missed opportunities from a marketing and sales perspective.
Leadfeeder connects to MailChimp and big CRMs like Pipedrive, Salesforce and Zoho which are used in enterprise sales. The end result is automated lead generation because Leadfeeder pushes new web leads and website activity by prospects to your CRM which means your salespeople can get on with more selling and closing of more deals.
Mike: Tell me how you went about acquiring LeadFeeder.com. What was the process?
Pekka: I wanted to have an easy-to-write name with the word “lead” in it. Since all 2-word domains are already registered, I went to godaddy actions site and searched for dotcom domains starting or ending with the word “lead”. I found the Leadfeeder.com domain from there and ended up paying 4000 euros for it. The process was very straightforward and quick.
Mike: What did you pay for the name?
Mike: What type of traffic numbers do you see on the site?
25,000 active users per month
10% monthly MRR growth
Subscriptions per month: 110
80,000 sessions per month (organic 20%, direct 30%, referral 5%)
Conversion to trial 1.5%
Mike: Great stats! How do companies leverage the information you gather? Can you provide some examples?
Pekka: Many other unique examples of how companies are leveraging the data here:
1) Better ROI on AdWords campaigns. In Leadfeeder you can see all the companies that click through your paid marketing campaigns to your website and what exactly they do on your website even when they don’t convert. Our users add these companies to their marketing/sales funnel depending on what they looked at and for how long they stayed there. Normally all these leads are lost because if they don’t fill in a lead capture form marketers don’t know who they are.
2) More web leads in Pipedrive, Salesforce, Zoho CRM. Leadfeeder sends website visit details to your CRM so sales people know when an open deal is showing activity on your website. Salespeople (including us at Leadfeeder) are monitoring open deals by latest website visit and then reaching out and closing the deal at the key moment. Marketers also qualify leads they find in Leadfeeder and once qualified they connect the new leads to their CRM. This means more sales opportunities.
3) Targeting people by job title on LinkedIn and using Leadfeeder to tailor a perfect follow-up email. You can target your adverts on LinkedIn by job title when you know who the target buyer is for your service. Because of this when you see visits in Leadfeeder from these particular campaigns you are actually seeing (and what LinkedIn doesn’t show) is “visit from CMO at Marketing Lion.” When you know what a particular person has been looking at you can send a perfect follow-up email.
Mike: Clearly you are an internet tech company. That said, talk about why you chose this name and how that has been an import part of your strategy.
Pekka, CEO: Having a good name is really important and you shouldn’t be afraid of picking a really great name and paying for that domain. In the end, the 4000 euros we paid for leadfeeder was a really small investment. The name should describe what you do and it should be easy to say and write. In our case our domain name describes exactly what we do.