A software development company, a managed service provider of software applications for a tech giant, needed market-qualified and sales-qualified leads.
Pain Points:
- ICP Identification issues: The software development company needed help to connect with its ideal customer profiles- businesses that needed HR and payroll management software.
- Low Email Deliverability: Email marketing was unsuccessful as bounce rates and the number of unsubscribes also increased. In addition, compliance issues cropped up, adding to the frustration of the business.
- Low conversion rates: The sales team chased incorrect leads, and there were few conversions as expected. It negatively impacted the lead generation campaign and the overall profitability of the business. The culprit needed to be corrected and updated data in their database.
- Poor ROI: All their B2B marketing campaigns yielded dismally low results and poor lead generation rates. Investing in marketing automation also did not drive the desired results. The sales team spent time on unqualified leads and pursued incorrect leads, which resulted in resource wastage and a low conversion rate.
Solution:
Markable Solutions has core expertise in B2B lead generation and data enrichment. We helped the company struggling with outdated data with data enrichment services and added new verified leads with ICP identification services.
- Data Audit: The first step was to audit our client’s database. We encountered several incorrect email addresses, outdated job profiles, and old contact numbers. These were some of the main reasons for jeopardizing the efforts of the marketing and sales team. Data audit helped ensure the best results from marketing and sales initiatives.
- CRM update: We updated the database with new and verified leads using AI-powered data enrichment and appending services. Additional leads and missing data points helped the company get a comprehensive view of its sales pipeline allowing the marketing team to curate relevant strategies to cater to the prospects’ unique business requirements. The sales team could pursue the correct target audience and optimize their engagement process.
- ICP Identification: Our proprietary database comprises over 18.8 million opt-ins, and verified and vetted contacts. The data is backed by AI, helping us target ICPs with more than 92% accuracy. We identified the ideal customer profiles of the software development company in the EMEA region- businesses who required the software based on intent data, firmographic, and technographic data, giving an insight into the existing tech stack of the prospects and determining their purchase timeline for an upgrade or a new software requirement.
Results:
- Improved Targeting: Data enrichment helped the company prioritize personalization by understanding its target audience. The marketing team targeted leads with strategies that resonated with them and encouraged a positive response from the prospects. Email deliverability was up by 38%, and unsubscribes were lessened by 23%. This was just the beginning of streamlining the email marketing campaigns.
- Increased sales: The business development teams now had access to correct information. They could qualify the most promising leads for further nurturing and close more deals. As a result, there was a 19% improvement in the conversion rates. The initial positive results showcased the importance of data hygiene, and the subsequent results will be visible in future marketing strategies and business development efforts of the business.
- Better ROI: The software development company witnessed an impressive improvement in ROI by 21%. With improved targeting, streamlined marketing, and sales operations, the company could increase profitability.
