B2B Success Stories https://www.demandgenreport.com Sat, 17 Aug 2019 16:44:23 -0400 en-gb Lenovo Boosts Content Engagement With Video Measurement https://www.demandgenreport.com/features/case-in-point/lenovo-boosts-content-engagement-with-video-measurement https://www.demandgenreport.com/features/case-in-point/lenovo-boosts-content-engagement-with-video-measurement Lenovo Boosts Content Engagement With Video Measurement

/Computer manufacturing company Lenovo tapped Vidyard, a video marketing platform, to help build buyer awareness and engagement by using video in creative ways.

Challenge:

The technological device industry is constantly innovating, and Lenovo’s customers are always looking for the latest product. The company embraced video as part of its marketing strategy, since its customers prefer the medium. However, it was difficult to measure how much of the video’s content viewers consumed, even if there was data to illustrate video clicks and downloads.

Another challenge Lenovo faced was creating compelling video content that engages customers. “The play button is the most compelling call to action on the web, but there is a problem: Our attention spans have shrunk,” said Michael Ballard, Senior Manager of Digital Marketing at Lenovo.

Solution:

By integrating with Vidyard, Ballard and his team were able to identify which videos their prospects watched, and what percentage of each video they watched. With this intel, the Lenovo team was able to optimize their content for greater conversion — all within the company’s marketing automation platform Eloqua.

“If I know [prospects] have been engaging with top-of-the-funnel content and showing signs of digital behavior moving down the funnel, then I can serve up the video that’s next in the step,” said Ballard. “We can take the intelligence and serve proper video content.”

By integrating Vidyard with Eloqua, Lenovo was able to:

  • Determine prospect engagement with content. Did the viewer watch 30% or 50% of the video? Did they watch the video all the way through?
  • Nurture leads based on how much of the content was viewed.
  • Get insight into what viewers are most interested in, in order to move them through the sales funnel.
  • Create personalized video down to the individual.

Results:

By using Vidyard, Lenovo is able to reactively measure asset performance and customer engagement. Now, 80% of Lenovo’s top-performing videos are watched from beginning to end. With video, the company has seen:

  • An increase in click-through rates 4x the normal benchmarks; and
  • A lift in engagement rates by 55% per page visit.

The partnership resulted in better-educated decisions when creating marketing campaigns. Lenovo’s investment in Vidyard enables the company to track and demonstrate the ROI of individual asset production, as well as see how video is impacting lead generation, pipeline development and closed revenue. 


Case In Point is a new editorial section devoted to real-world case studies that show how B2B marketing teams are planning, executing and measuring their campaigns. Do you have a successful solution to share? Send it to Audrey Goodson Kingo at audrey@demandgenreport.com to be considered for a future Case In Point.

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feed@demandgenreport.com (Klaudia Tirico) Case In Point Wed, 18 May 2016 10:37:06 -0400
Iron Mountain Reduces CPL With Automated Data Validation https://www.demandgenreport.com/features/case-in-point/iron-mountain-reduces-cpl-with-automated-data-validation https://www.demandgenreport.com/features/case-in-point/iron-mountain-reduces-cpl-with-automated-data-validation Iron Mountain Reduces CPL With Automated Data Validation

/Iron Mountain, an enterprise information management services company, tapped demand generation provider Integrate to enhance its lead database and elevate the quality of data obtained on prospective customers.

Challenge:

Iron Mountain works with data vendors to gain insight on prospective leads and fill in any gaps for existing leads in the company’s database. The company was looking for a way to enforce the criteria it required of its data vendors, while also guaranteeing data quality and accuracy.

The company’s marketing team established standardized data criteria, and team members were coached to obtain that info from vendors.

“Prior to implementing this process, we were missing a lot of our [demographic] data,” said Leslie Alore, Head of Global Marketing Operations and Automation at Iron Mountain, during an interview with Demand Gen Report. “Any type of data other than that is just nice to have.”

At first, the process was handled manually; marketers went line by line to find any inaccuracies in the data. According to Alore, calling the process time consuming “would be an understatement.”

Solution:

The company implemented Integrate, an outbound demand generation software designed to help users manage demand gen initiatives that are headed by outside sources. Iron Mountain turned Integrate into its central platform for automated data validation.

Data marketing training was now handled by Integrate. Alore’s short-term goals were to save her and her team time. According to Alore, the company “achieved that goal in the first two months.”

In the long term, the company also wanted to start increasing revenue, as well. Since Integrate aims to help users find providers with high-quality data, the cost per lead was anticipated to go down

Results:

Essentially, Alore stated that Integrate was able to help the company “put accountability back on the vendors and remove the manual processes.” Integrate enabled the company to automate its data validation efforts, allowing the marketing team to focus its time and effort on leveraging the data gathered to segment and nurture its list of prospects.

Since going live with Integrate, Iron Mountain has seen $7.5 million in influenced pipeline. The company also attributes a closed deal worth $2,000 to the solution. The company added that it’s average inquiry-to-MQL rate is roughly 33%.

“The only way to nurture leads is to learn more about them,” Alore noted. She added that customer data allows marketers “to segment their audience and enhance messaging to target them at the right level.”

The company states that the use of Integrate, as well as a combination of other efforts made throughout 2015 to improve demand generation, helped increase its active audience to approximately 121,000.


Case In Point is a new editorial section devoted to real-world case studies that show how B2B marketing teams are planning, executing and measuring their campaigns. Do you have a successful solution to share? Send it to Audrey Goodson Kingo at audrey@demandgenreport.com to be considered for a future Case In Point.

 

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feed@demandgenreport.com (Brian Anderson) Case In Point Tue, 17 May 2016 17:50:10 -0400
Brainshark Increases Lead Connect Rates By 30% With Persona-Based Marketing https://www.demandgenreport.com/features/case-in-point/brainshark-increases-lead-connect-rates-by-30-with-persona-based-marketing https://www.demandgenreport.com/features/case-in-point/brainshark-increases-lead-connect-rates-by-30-with-persona-based-marketing Brainshark Increases Lead Connect Rates By 30% With Persona-Based Marketing

/Brainshark, a sales enablement platform provider, leveraged SaaS software provider ZoomInfo to gain higher quality leads and launch targeted campaigns.

Challenge:

The Brainshark marketing team was falling short on converting leads due to poor connect rates and unclear buyer personas. They were spending too much time and too many resources generating leads for sales, most of which were incomplete or inaccurate. One of the biggest problems was obtaining the direct phone numbers of prospects.  The team didn’t have access to the numbers, resulting in lackluster connect rates.

“We have been so reliant on email that we never really spent time [checking] that [our] direct dial information was right,” said Kate Sarkissian, Senior Manager of Database Marketing at Brainshark.

Solution:

By partnering with ZoomInfo, Brainshark was able to move to an account- and persona-based campaign model, as opposed to a broad-based marketing approach. ZoomInfo enabled Brainshark to shorten the sales follow-up time with leads, and enabled Brainshark to integrate insights from the solution into its CRM and marketing automation platforms.

Brainshark leveraged ZoomInfo to:

  • Build out targeted campaigns based on buyer personas;
  • Fuel the sales funnel with new, targeted contacts using ZoomInfo’s self-service platform;
  • Provide sales with a complete picture of incoming leads; and
  • Fill in data gaps and update inaccurate information.

After implementing ZoomInfo, Brainshark was able to focus on targeting high-level leads with senior and C-suite titles, and change their messaging to the prospects and companies they were targeting.

“Now we have a tool that can analyze current data sets, and we can focus in on those people and find more of them,” said Sarkissian. “Working with a smaller subset may mean looking for more names, but we’re not just sending out 50,000 names and hoping to get a response anymore.” 

Results:

After partnering with ZoomInfo, Brainshark was able to:

  • Achieve a 30% increase in connect rates;
  • Reach decision makers four times faster; and
  • Increase marketing qualified opportunities by 10%.

“Because sales reps are getting the direct dial phone numbers, they are reaching people four times faster and delivering a better connection rate,” said Sarkissian. “Our sales team is now 30% more likely to reach decision makers when calling. If you are going to go through the trouble of running a lead generation program, you need to make sure your sales team can continue the conversation.”


Case In Point is a new editorial section devoted to real-world case studies that show how B2B marketing teams are planning, executing and measuring their campaigns. Do you have a successful solution to share? Send it to Audrey Goodson Kingo at audrey@demandgenreport.com to be considered for a future Case In Point.

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feed@demandgenreport.com (Klaudia Tirico) Case In Point Tue, 17 May 2016 17:11:48 -0400
Spinnaker Sees 250% Conversion Lift With Act-On Software https://www.demandgenreport.com/features/b2b-success-stories/spinnaker-sees-250-conversion-lift-with-act-on-software https://www.demandgenreport.com/features/b2b-success-stories/spinnaker-sees-250-conversion-lift-with-act-on-software Spinnaker Sees 250% Conversion Lift With Act-On Software

Many B2B marketers face challenges when it comes to lead nurturing and segmentation, expecially as their databases expand to attract more prospects and growt their market share. Supply chain services company Spinnaker Management Group chose to tackle the issue with the help of Act-On Software — leading to a 250% boost in conversions and roughly $100,000 in pipeline opportunity after implementing marketing automation to their campaign initiatives.

Prior to implementing marketing automation, Spinnaker adopted a content marketing strategy in an effort to drive demand. However, the company was unable to measure campaign and content effectiveness.

“Over the years we’d acquired many names and email addresses, but we didn’t know if they were buyers, decision makers or influencers because we’d never profiled them,” said Paul Adamson, Director of Marketing and Business Development at Spinnaker.

The company chose Act-On due to the vendor’s integration with SugarCRM, which Spinnaker uses. Spinnaker is now positioned to create and execute a higher volume of campaigns, as well as strategically nurture its various buyer types across its core service categories. The company also saw an increase in open rates, as well as click-through rates.

“Within a short time, we were able to identify a marketing related project,” said Adamson. “Now, we can see that a prospect performed a Google search, visited our website, reviewed collateral in our resource library, requested more information, and inquired about their specific needs - and with each activity we see their lead score increase.”

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feed@demandgenreport.com (Brian Anderson) B2B Success Stories Thu, 10 Dec 2015 12:30:12 -0500
Foremost Media Boosts Customer Revenue 30% With CallidusCloud https://www.demandgenreport.com/features/b2b-success-stories/foremost-media-boosts-customer-revenue-30-with-calliduscloud https://www.demandgenreport.com/features/b2b-success-stories/foremost-media-boosts-customer-revenue-30-with-calliduscloud Foremost Media Boosts Customer Revenue 30% With CallidusCloud

Foremost Media/, a B2B web development and search marketing agency, has seen a 30% growth in revenues from its existing customer base in the year since it first deployed CallidusCloud Marketing Automation from Callidus Software.

CallidusCloud Marketing Automation has also enabled Foremost Media to reduce customer churn and discover new potential customers from among its website visitors.

"We needed a marketing automation solution for customer retention, because many times we'd inadvertently fail to communicate with customers after the completion of a project until they were ready for a re-design," said Jon Ballard, Foremost Media's CEO. "Sometimes they'd move to a competitor simply because we'd lost touch with them."

Foremost selected CallidusCloud Marketing Automation to set up drip campaigns to existing customers. "We found that, not only did it keep customers engaged until their next major redesign, but the regular messages often spurred customers to call about additional work — sometimes as early as 30 or 60 days following the initial project," said Ballard.

CallidusCloud Marketing Automation also contributed directly to new customers for Foremost Media. "CallidusCloud is unique in its website visitor tracking capabilities," said Ballard. "Most visitors to our website never fill out a form, but CallidusCloud allows us to figure out who they are, what company they're with, how big the company is and what industry they're in."

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feed@demandgenreport.com (Kim Zimmermann) B2B Success Stories Tue, 14 Jul 2015 09:00:20 -0400
Equinix Shortens Sales Cycle, Boosts Lead Gen With TouchCommerce Live Chat Tool https://www.demandgenreport.com/features/b2b-success-stories/equinix-shortens-sales-cycle-boosts-lead-gen-with-touchcommerce-live-chat-tool https://www.demandgenreport.com/features/b2b-success-stories/equinix-shortens-sales-cycle-boosts-lead-gen-with-touchcommerce-live-chat-tool Equinix Shortens Sales Cycle, Boosts Lead Gen With TouchCommerce Live Chat Tool

/As more people weigh in on buying decisions, the B2B sales cycle continues to grow into a prolonged process. Demand Gen Report's 2014 B2B Buyer Survey shows 34% of respondents stated the number of team members involved in the B2B purchase process increased over the past year. Also, 40% of B2B buyers waited longer than the year prior to contact B2B vendors when making a purchase decision.

Equinix, a provider of data center and colocation services to companies in the advertising, cloud services and healthcare industries, is addressing longer sales cycles by implementing TouchChat, a live-chat tool provided by customer engagement solutions provider TouchCommerce.

Since implementing the TouchChat solution in April 2014 to its sites in the U.K. and Netherlands, Equinix has seen its 12-18 month sales cycle shrink by one month. With the current opportunities generated by the solution, Equinix expects to see a 10-to-1 return on its investment.

The company has also expanded its partnership with TouchCommerce to include the live chat product on its sites in Germany, France, Switzerland and the United Arab Emirates.

“We have had excellent feedback from both our customers and our sales teams in the Netherlands and UK over the last several months," John Wroath, EMEA Digital Marketing Manager, EMEA, Equinix. "We've also seen indirect impact, such as making visitors aware of new information and opportunities that can bring additional revenue to Equinix."

The TouchChat solution is designed to provide visitors to a company's web site the option to speak with customer service representatives with real-time engagement. Companies can track where on the site prospects are located, positioning reps to keep conversations relevant and as valuable as possible to visitors.

The solution can also analyze conversations to help users understand what conversations are important to prospects at that current stage of the buying process, according to George Skaff, CMO of TouchCommerce.

"The most interesting part is the analytics that are involved with the chat function on the company's site," Skaff noted in an interview with Demand Gen Report. "Chat transcripts are analyzed in order, allowing keywords to be analyzed to help users understand what buyers want to talk about."

TouchCommerce also allows Equinix to have a "Contact Us" icon on their website that scrolls on the screen wherever the visitor travels.

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feed@demandgenreport.com (Brian Anderson) B2B Success Stories Fri, 01 May 2015 16:45:03 -0400
IFP Closes $500K Deal In 90 Days By Outsourcing Lead Gen https://www.demandgenreport.com/features/b2b-success-stories/ifp-closes-500k-deal-in-90-days-by-outsourcing-lead-gen https://www.demandgenreport.com/features/b2b-success-stories/ifp-closes-500k-deal-in-90-days-by-outsourcing-lead-gen IFP Closes $500K Deal In 90 Days By Outsourcing Lead Gen

/All B2B marketers want to keep the sales funnel filled with top-notch leads. But many factors — including the target industry, complexity of the sales cycle and size of the marketing and sales teams — can determine the success of a company’s lead generation efforts. As a result, many firms turn to third parties to ensure a continuous flow of prospects.

One such company is Indiana Fluid Power (IFP), a provider of fluid power, motion control and automation systems for the industrial and mobile OEM marketplace. The company tapped LeadJen to help gather new prospects and setup briefings for its sales reps. Three months into the partnership, IFP was able to close a $500,000 deal and had several other opportunities in the pipeline.

Prior to hiring LeadJen to handle its outbound marketing endeavors, IFP’s sales engineers spend the majority of their time working with customers and prospects to design systems and solve problems — due to the complexity of its solutions. In addition to IFP’s large and complex deals, the average sales cycle is six to 18 months.

Due to the specific vertical they target, IFP executives were unsure if outsourcing was right for them.

“We have a complex message and I wasn’t convinced that someone outside our company would be able to learn it quickly and deliver the results we wanted,” said Bernie Clarke, President of IFP. “These are critical systems and components so it’s not easy to convince a company to change providers.”

When the time came to begin filling the pipeline with new prospects, IFP tapped LeadJen to handle all the outbound marketing initiatives, while the internal marketing and sales teams focused on retaining current customers. Although the fluid control automation industry is a complex ecosystem, the LeadJen team was able to analyze and locate key prospects and accounts that matched the company’s ideal buyer.

“LeadJen has done an outstanding job of cultivating our relationship with potential buyers,” said Clarke. “If I had left this campaign up to our internal staff, we may have set three to four appointments in this timeframe; they just don’t have the time to devote to cold calling.”

Establishing A Process

Clearly defined lines of ownership on what internal and outsourced teams will be working on helps eliminate the possibility of stepping on toes, according to LeadJen President Jenny Vance.

Vance added: “The division either comes in the internal team handling inbound leads and the outsourced firm handling outbound or it comes with clear communication about who owns what territory, account lists, lead sources, industry targets, etc.”

Along with closing a $500,000 deal in the first three months, LeadJen set 36 appointments across 1,000 call and email attempts to 150 accounts, a 23% response rate per company and 15% response rate per person targeted.

Other results include:

  • Most of the 36 appointments were set with the first phone call;
  • Wednesday was the most popular day for setting up appointments; and
  • Only 13% responded with “no interest.”

 

Technological integration also eased communication between both parties, aligning both internal and outsourced teams to maximize productivity. “Technology integration also helps create visibility to activity happening by both teams,” Vance added. “These solutions can help teams leverage prospecting functionality while still giving real-time visibility into call activity by lead/account.”

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feed@demandgenreport.com (Brian Anderson, Associate Editor) B2B Success Stories Mon, 19 Jan 2015 09:46:20 -0500
Sungard AS Uses Segmentation, New Creative to Boost Lead Conversion Rates by 75% https://www.demandgenreport.com/features/b2b-success-stories/sungard-as-uses-segmentation-new-creative-to-boost-lead-conversion-rates-by-75 https://www.demandgenreport.com/features/b2b-success-stories/sungard-as-uses-segmentation-new-creative-to-boost-lead-conversion-rates-by-75

SunGard SpearSungard Availability Services (Sungard AS) provides disaster recovery, business continuity, and managed IT services. Sungard AS runs a highly successful demand generation program — an integrated mix of both online and offline campaigns — to generate a consistent flow of leads to the company’s sales force. 

As a company that thoroughly tracks and measures the ROI from its various marketing efforts, Sungard AS knew that increasing the revenue contribution from demand generation meant either driving more leads into the top of the funnel, increasing the rate at which those leads convert into sales, or a combination of both. In support of the company’s aggressive growth plans, the marketing team set out to focus energy on increasing the rate at which raw inquiries converted to qualified sales leads, opportunities and deals.

In early 2014, Sungard AS hired B2B demand generation agency Spear Marketing Group to audit their current lead nurturing programs and to recommend improvements, with two main objectives:

  • Increase the rate at which new leads and existing prospects convert to marketing-qualified Leads (MQLs); and
  • Improve deliverability and overall email performance as measured by open and click rates.

Spear conducted a thorough audit of the company’s lead nurturing process, and presented a series of recommendations, focused primarily on segmentation, offer strategy, email cadence, and creative.  “Sungard AS had solid creative in place and a very sophisticated nurturing program,” says Howard Sewell, Spear President.  “Our job was to build on that foundation and identify opportunities for improvement.  We were able to provide new ideas based on our pool of experience and what we knew was working for other companies in the tech space.”

Spear identified incremental changes to make in the company’s creative approach, but focused most of their recommendations on segmenting the existing nurturing effort into a program that was more tailored to where a prospect was in the buying process, and to that individual’s specific role or job function.  In particular, they recommended instituting a structured program of emails designed to respond immediately to new leads, a function that previously was the sole responsibility of Sungard AS’ telemarketing team.

In response to the audit and in line with Spear’s recommendations, the firm was subsequently hired to:

  • Revamp existing email and landing page creative based on e-marketing best practices;
  • Design, build and launch a “welcome” email program designed to improve follow-up and response to new leads;
  • Design, build and launch a nurture campaign targeted to “mid-stage” leads; and
  • Design, build and launch separate email tracks for (4) unique buying personas.

All campaigns were built and launched in Marketo, which Spear is an agency partner with.  “A large part of the power of marketing automation is the ability to tailor your message automatically based on both demographic and behavioral criteria,” said Sewell.  “By introducing email tracks that spoke more directly to people further down the sales cycle, and by adjusting creative and offer strategy for specific job functions, we felt confident that the client’s message would resonate more effectively.”

After six months, Sungard AS was able to report the following:

  • Email open rates increased more than 260%, while click rates more than doubled;
  • Lead to MQL Conversion Rate for all leads across all product lines increased 33%; and
  • Lead to MQL Conversion Rate increased by 75% for “passive” leads (leads from online programs such as content syndication, banner ads, SEM, Webinars and social media).

“The results we’ve seen from the changes that Spear implemented in our email nurture programs have been nothing short of amazing,” commented Julie Brewer, Sungard AS’ Director of Marketing Programs.  “Quite aside from just improving the performance of our outbound campaigns, we know that the leads we generate from all sources are now much more likely to convert to qualified sales opportunities.” 

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feed@demandgenreport.com (Kim Ann Zimmermann, Managing Editor) B2B Success Stories Thu, 11 Sep 2014 09:38:57 -0400
Predictive Lead Scoring Helps SmartBear Identify Untapped Opportunities https://www.demandgenreport.com/features/b2b-success-stories/predictive-lead-scoring-helps-smartbear-identify-untapped-opportunities https://www.demandgenreport.com/features/b2b-success-stories/predictive-lead-scoring-helps-smartbear-identify-untapped-opportunities

smartbear-mintigo logosMarketing automation has certainly increased lead volume, but the focus now is on boosting quality. Progressive companies such as SmartBear Software are boosting lead quality with applications that analyze data and digital behaviors to predict which leads will convert.

A recent webinar, hosted by Mintigo, discussed how traditional lead scoring is being used today, and how adding predictive capabilities to the lead scoring strategy will ultimately uncover the high-value leads with the best chances of converting.

Open-minded marketers are realizing that they need to take their lead scoring initiatives to the next level, according to Kerry Cunningham, Research Director at SiriusDecisions.

Cunningham added: “Oftentimes data points don’t allow for perfect predictions. In the real world of data science, the fact that clues are not perfect predictors are referred to as errors — or ‘noise’ — in the data. That error in the data diminishes our ability to make accurate predictions.”

SmartBear, a provider of automated testing and web monitoring tools for software developers and IT professionals, discussed how predictive lead scoring can help identify previously untapped opportunities.

“At SmartBear, the marketing team has to feed many hungry mouths with the data and leads they need,” said Tony Yang, Director of Demand Generation at Mintigo. “Before the company went predictive, its traditional scoring methods did a great job in highlighting which of its products was the right fit for each prospective buyer.”

While the company saw increased conversion rates with their lead scoring initiatives, SmartBear was limited to leveraging implicit behavior and explicit form completions. There was a large quantity of data and information that was going unnoticed, meaning that SmartBear was not seeing maximized results.

“Even though SmartBear’s marketing teams are experts in their craft, they are still human,” said Yang. “They could not naturally see the deeper correlations and patterns that highlights strong buying signals.”

SmartBear decided to revamp their lead scoring model by adding predictive capabilities from Mintigo. The partnership allows SmartBear to utilize internal data as well as external data from outside sources, allowing the company to score leads on what products are the best choice for them. Yang explained that Mintigo identifies target and cross-sell opportunities in real time.

When starting a predictive lead scoring initiative, Cunningham outlined several areas marketers need to address, including:

  • Analyzing historical data to understand the behaviors of leads that became customers and leads that didn’t convert, finding the clear differentiators between both groups;
  • Knowing the entity that you are trying to target (single person or an account) to help create the right messaging; and
  • Leveraging prospect and account level predictors to gain stable attributes and buyer behaviors to help distinguish leads most likely to convert.

Ultimately, human behavior isn’t always predictable, according to Cunningham.

“Human beings are very complicated systems, and corporate systems made of humans are even more complicated,” Cunningham added.“But if you ask questions in the right way — to the right people — you can begin to make some progress on predicting what people will do in specific circumstances.”

 

Click here for an on-demand version of the webinar.

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feed@demandgenreport.com (Brian Anderson, Associate Editor) B2B Success Stories Wed, 13 Aug 2014 11:15:42 -0400
Jaspersoft Doubles Inquiry-To-Close Rate With Next Generation Demand Funnel https://www.demandgenreport.com/features/b2b-success-stories/jaspersoft-doubles-inquiry-to-close-rate-with-next-generation-demand-funnel https://www.demandgenreport.com/features/b2b-success-stories/jaspersoft-doubles-inquiry-to-close-rate-with-next-generation-demand-funnel

Jaspersoft logoRecently acquired by TIBCO Software, Jaspersoft is a commercial open source business intelligence software provider that operates on a subscription revenue model. The company’s last venture capital funding round was in June 2011 and the goal was to be self-funded by the end of 2013. That was a tall order, considering that as of April 2012, 85% of the pipeline was sourced by marketing; there was no service level agreement between sales and marketing; and there were wide fluctuations in lead flow.

To fund the business without additional venture capital, the company had to get lean. That meant growing new business by 30% while reducing marketing spend by 12%.

“The marching orders were to get more out of the money we were spending on marketing while lowering our investment in marketing, which is never easy,” said Jim Bell, CMO for Jaspersoft. “That would allow us to reach our business goal of getting the cash flow to the breakeven point as a company.”

Bell and team doubled the inquiry-to-close rate from his baseline with a rigorous demand funnel definition and a disciplined process, earning a Return On Integration (ROI) Award at the SiriusDecisions Summit 2014.

The company engaged DemandGen International to help revamp its processes, including implementing a new funnel model, lead scoring, capacity-based lead assignment, service-level agreements and lead recycling. The two companies began their conversation two years earlier at SiriusDecisions’ 2012 Summit.

“Like many firms that attend, Jaspersoft attended SiriusDecisions for inspiration and insights on how they could increase revenue and better align sales and marketing,” said David Lewis, CEO and Founder of DemandGen International. “We helped them take the SiriusDecisions model and operationalize it.”

Adjustable Lead Scoring Enables Capacity-Based Lead Assignment

Lead scoring was a critical component of the plan, Bell noted. Leads were scored by three components: Data quality, demographics and behavior. Jaspersoft also worked with Lever10, a B2B marketing services firm, on the lead scoring project.

Lever10 conducted “a deep statistical analysis of all of our data in our marketing automation system and in our Salesforce system to look for hidden influences,” Bell said. “For example, if we won a deal and there was a lead in our system that wasn’t connected to that deal but had the same email domain, they would analyze whether that person might have had an impact, and if so, what campaigns did they respond to, among other things.”

A capacity-based lead assignment model helped solved an ongoing challenge of reps having too many or too few leads as volume fluctuated. The new structure keeps reps focused on the best available leads at any given time, Bell said. “Once you implemented the lead scoring, rather than setting a threshold of, ‘Hey, when any lead hits a certain lead score then send them to sales,’ we actually asked the sales team, ‘How many leads can you handle per week provided you follow the service level agreements?’”

When there are variations in lead flow, the the lead score threshold is adjusted to drive a consistent number of leads to the sales team at all times. “The idea is that rather than having them digging around in the marketing queue and trying to find leads when we’re not sending them enough they’re always getting the best of what we have at a fairly consistent rate.”

Bell reported that the company is pleased with the progress. “The improvement was really terrific and everything really came together. It’s a great team, a great relationship between sales and marketing, and, yes, it was fun.”

Next Steps

To build on this success, the company looked at data from the previous year by sales rep. “We showed them how many inquiries they got, and how many deals they closed from those inquiries, and what the percentage was,” Bell said. “Then we showed them how many opportunities they created from partners, how many deals they closed, how many opportunities they generated themselves, and how many of those were closed.”

The company now analyzes three funnels: The marketing funnel, the partner funnel and the sales-generated funnel. “What that did was it allowed us to show which reps were converting better, which got more in the pipeline, which were doing more themselves versus relying on marketing, and which were doing better with partners.”

The new model was introduced at the company’s sales kickoff back in February. The idea, Bell said, was to have the sales reps build their own “franchise plan,” working backwards from their quota. “We call it a franchise because we want them to think in terms of ownership and to garner whatever resources they need,” Bell explained.

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feed@demandgenreport.com (Kim Ann Zimmermann, Managing Editor) B2B Success Stories Thu, 10 Jul 2014 15:24:51 -0400