Business Development Case Studies
The first of a series of summary Case Studies have been published. The most common question coming from parties that want to help me find new prospects is, “What is it, exactly, that you do?” A question that is easily answered in person with examples. For those that aren’t yet interested in talking to me in person, I have these formatted Case Studies.
You can find these case studies in the top menu navigation, but I will highlight the first one here.
This one was tentatively labeled: Case Study #2
B2B company that sells to small businesses (defined as a company with fewer than 100 employees)
Business to Business Inbound Call Center
Business Development Snapshot
– Primary business development activity from Search Engines (70%)
– Consistent record of new customer acquisition over time
– Trade shows and outbound calling rounds out marketing activity (30%)
In the year prior to engaging Chambers Pivot Industries, revenue remained flat despite price changes, product enhancements and new product offerings. Traffic to the site and inbound calls were consistent year to year, suggesting a decline in prospect qualification and sales rep close rates that was working against the product enhancements.
The three part solution focused on educating prospects, creation of a system to automate the qualification of leads and finding 3rd party products to resell to the non-converting prospect base.
To educate prospects we focused on offering an email series that answered the 10 most common questions asked by prospects and using multiple calls to action to get that information to website visitors.
Creating a system that automated the collection and qualification of leads we focused on a Customer Relationship Manager that included a Marketing Automation module. This CRM functions as the “marketing” lead database and once leads show some signs of intent, they are passed to the existing CRM which includes “hot” leads, current customers and past customers.
Finding a way to monetize the volume of leads that weren’t converting involved segmenting and marketing to those segments based on behavior. The Marketing CRM controls that activity.
Tools used were off the shelf solutions coupled with some Excel and Access work that was handled internally.
Revenue on existing products increased by 12% in the first 90 days. Gains that will continue for a 24-30 month period. The number of marketing leads increased by over 400% month to month and are a leading indicator of future sales increases. Revenue from 3rd party product sales to non-qualified leads is helping to fund a separate product launch. A hidden benefit was overall staff engagement increasing through participation in the new initiatives.
I realize that the anonymous nature of the data takes away some of the impact, but that’s the nature of the work. If you have an interest in getting more detail that goes beyond the process and into the tactics, let’s chit-chat and see if I can help!
I’ll have another 7-8 Case Studies up in the coming weeks. (that’s the plan at least!)