46% increase in conversion ratios in
12 MONths.

CASE STUDY

How RMS Helped our Client convert marketing leads and buyer interest into actual sales $$

THE
CHALLENGE.

Converting marketing campaigns and spend into actual revenue. Even though marketing was producing solid end user touch points and measurement data, our client was struggling to realise revenue $.

An
Overview.

Even with a large marketing budget [via a third-party marketing company], and a steady stream of leads, this client sales team was consistently missing their sales revenue targets.

The client’s marketing efforts resulted in consistent lead generation yet conversions of these leads remained low. With 3 inside salespeople, the cost to get a sale was becoming unsustainable for this smaller-scale business. 

RMS came on board at this point.  The client knew that although they were reaching lots of people through their marketing efforts something wasn’t working

our
approach.

Following our S.P.I.N.E. Sales Methodology, RMS worked with our client to map the company’s entire sales process in detail to uncover and identify the possible causes for this lack of lead-to-sale conversions.

As part of this, we reviewed the target audience that was currently responding to the marketing campaign and found they only had one to two of the three key markers that we had identified as being integral to the ideal target audience. 

We examined and dissected every sales touchpoint and identified a critical disconnect at the initial sales touchpoint conversation between the sales team and the potential customer. The sales team and their scripts were written around the customer understanding and being active in the market our client was selling into. Which turned out to be not the case in many instances.  In fact, it was determined in as many as  72% of cases, this disconnect was pinpointed as an issue causing low conversion ratios.  

The sales team were using basic introduction scripts for each call, however, these scripts were often misaligned with the buyer’s purchase readiness and knowledge. 

In addition to this, we uncovered that our client had no incubator or prequalification process in place where potential customers not currently in a position or ready to purchase could be moved to and nurtured through knowledge, education and product and company awareness until they were ready to pick up a sales conversation. The sales scripts didn’t allow for or incorporate an option to move these potential future customers into a nurture process.

our
SOLUTION.

We identified four primary areas that needed to be tweaked to get a higher ROI from marketing spend, increase lead conversion, and drive short and long term revenue growth.

  1. Tweaked the audience targeting and key messaging to appeal to and include one large group that had an interest in a key element but where at various stages of engagement, interest and knowledge.

     

  2. Set up a pre qualification process within the initial scripts to segment the audience into ready to buy, or incubate.

     

  3. Develop a primary automated incubator via low investment software to nurture, educate, protect from competitors and engage the group as future buyers that will trigger when they are ready for more conversations or can be proactively contacted as the right to provide content and contact has been established.

  4. Develop a simple measurement to be able to track and understand the sales flow and conversion ratios and ROI.

the
results.

SHORT TERM CONVERSIONS UP 39%

Short term conversions were up 39% due to the sales people investing their time with better-qualified lead

46% BETTER CONVERSION RATIOS WITHIN 12 MTHS

Qualifying and; lead nurturing processes result in 46% better conversion ratios within 12 months.

INCUBATOR CONVERSIONS = 13% OR SALESF

The incubator conversion ratios are growing and currently produce 13% of total sales.

The implementation of effective and practical solutions produced stellar results, including a boost in staff productivity via significant revenue to time improvements,  a marked improvement in return on marketing investment, and the establishment of a long-term pipeline for future conversions and a shield from competitor opportunities.

next
steps.

Continue to review and tweak and measure marketing and conversions to grow market reach.

WE CAN
HELP.

Contact us to chat about how RMS can help you accelerate your sales revenue growth.

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