B2B Demand Generation Case Study
The client was a UK telecoms business providing PBX based phone systems to the SME market. The company had been trading for 13 years and was turning over approximately £22 million per annum, employed 130 staff and was signing up new customers at a rate of 35 per month.
All the lead generation work up until this moment had been based on cold-calling business owners. The company was reliant on the ability of the tele-marketing team to book an appointment within the next 7 days for a sales person to make a face to face visit.
The company was experiencing a high turnover in telemarketing staff, and was beginning to run out of prospective client data.
Increase sales revenue at a time when the UK market is shrinking by 45%.
Implement a B2B demand generation strategy designed to make the pre-existing telemarketing appointment setting function more time and cost efficient.
1. Redevelop the company website to reflect the product offering and service package.
The existing website was typical of many companies in that it had no focus and was bloated with duplicate content, none of which was written with the buyer in mind.
2. Build a new marketing database.
I built a B2B marketing database of over 500,000 contacts within a few months. It was so good that when we tried to buy new data, the list brokers would see our suppression list and ask to buy our data!
3. Create warm leads.
I implemented an email marketing strategy with content based on feedback from the telemarketing team. By listening in to calls and talking to the agents it was possible to identify the key reasons why cold calls were successful, and perhaps more importantly, the target audience objections. Converting that information in to a series of emails and content hosted on the new website.
4. Lead nurturing and scoring.
Rather than simply treating any email open as a lead, I implemented a lead scoring system. Depending on how a recipient reacted to an email determined the next course of action, either more content based on that email, or a break of a couple of days before the next piece of information was delivered. This meant that we could build a lead score for each target recipient. Once a prospect has passed a certain score, the became a warm lead. Each prospect would need to have clicked through from at least one email, viewed at least one video and downloaded a PDF guide of some form.
5. Commission a new CRM system.
The old in-house developed platform couldn’t cope with the new processes. This was the biggest hassle of the whole process because the IT department and the project managers had so much emotional collateral tied in to the old system.
6. Update collateral.
As each sales appointment was confirmed, an appointment pack was sent out to the prospect. The design was very poor and the covering letter needed improvement. The first task was to change the name of the sale person who would be attending from a man’s name to a woman’s name. This simple change increased the % rate of meetings that took place. Each appointment was reconfirmed 24 hours in advance and the change in sales person name was communicated at that time, to no ill effect! I then changed the artwork on the outside of the appointment pack. This was not well received by many of the staff, but as the appointment failure rate dropped again, it was accepted as a good move.
Running this B2B demand generation customer journey funnel inevitably left a lot of recipients who did not react to the emails, or score enough points during the process. As part of the old cold calling process, the company would retire the data for 9 months before repeating the call process.
Rather than do this, I created a new brand and product proposition. This allowed us to shorten the break between email communications to just 2 weeks from Brand A process to the Brand B process. The key thing here was to transfer the lead scoring from the Brand A process to the Brand B process. This was hugely successful in terms of conversion rates.
B2B DEMAND GENERATION RESULTS:
- 110% increase in new PBX sales from 35 units per month to 74 per month
- The telemarketing appointment conversion rate dropped from 150 calls per appointment to just 5 calls per appointment
- Appointment failure rate dropped by 40%
- The sales conversion rate increased by 40%