SalesNash took care of client’s outbound strategy and helped to increase conversion rate
One of the leading payment platforms with broad functionality needed help defining their outreach strategy. The client was doing their first steps in outbound sales and the initial issue was that their process was set up in a wrong way. While being an end-to-end subscription management system the client tried to reach out to Stripe and PayPal users.
- Wrong targeting. As we have mentioned earlier – the client had their Ideal Customer defined improperly. Instead of targeting their competitors with the comparable functionality, they’ve decided to go after payment processing providers, covering only a small part of what they have to offer. These leads are a bad fit as they are mostly settled with what they have as of now.
- To produce prosperous campaigns you should always be ready for experiments. It can be either new prospects to reach out to or other fields and industries to cover. Therefore a clever research team must have a dozen ideas in mind, or at least a decent plan “B” to help your business grow.
What was done
Initial campaign testing
At the beginning of the project, we decided to try out the original approach to define the flaws and find the best strategy to stick to. Not to get the time wasted we decided that two weeks would be enough for this cadence. The results were not very pleasant as we got only 1 meeting scheduled and the prospect wasn’t best fit. So we were firm in our decision to create a new outreach campaign.
The first two weeks were a bit of a learning curve for us getting to know every in and out of the product we were going to offer. It is important to fully understand the product you are going to sell as with knowledge of every aspect you may come up with a fresh and unorthodox strategy.
Based on your pain point
When providing your customers with a huge number of features you know that it gets pricey. But why not use it to your advantage? We started off our own campaign targeting solutions like Zuora that was more expensive but provided less rich functionality. Due to the coronacrisis unfolding, it was the perfect time to offer businesses something cheaper, yet more powerful (actually it is a good selling point in any case).
Benefiting from your strengths
One of the ways to profit from being in a highly competitive niche is to know the weaknesses of your peers. If you want to make sure that the lead is qualified and will gladly switch to the warm stage – find a user that is not pleased with his current solution. We started the whole campaign targeting unhappy customers of our main competitors, collecting their complaints via multiple sources (G2, Capterra, Twitter, Facebook, etc.) and creating a highly personalized sequence of several steps.
Apart from targeting other companies that are providing subscription management services we’ve also played a bit with different industries. Starting off with various subscription merchants having received some positive feedback we’ve decided to experiment more and targeted SaaS, IoT and event PC Gaming companies. All this led to several productive appointments.
Over the course of the 4 months the project was running we’ve managed to:
- Generate over 4000 cold leads and reach out to them with relevant messaging.
- Convert that outreach into 43 set appointments with the representatives of various industries starting with computer software and ending with real estate.
- Maintain open rates around 40-60% within the sequences of emails and response rates near 6%.
This was a huge success for SalesNash as we helped our client to identify their main mistakes and put their outbound sales on the right track. With the strategy we created, the clients’ inner team is now able to sustain a highly targeted outreach process with stable open-rates and the number of appointments that allows converting nearly every second demo into a new client.