IT Telecom Consultancy Adds Over $1.3M in Sales Pipeline Opportunities
The Client is a leading IT and telecommunications consulting firm based out of Albany, NY. The company works primarily with large U.S.-based enterprises to help them reduce expenses through cost management programs and strategic sourcing initiatives.
For the better part of two decades, the Client has carved out a decent market coverage across a broad range of industries. The company maintains a number of Fortune 500 brands and government agencies in its customer portfolio.
The Client, however, recently ramped up customer acquisition activities in verticals where it lagged behind competitors. These included mining, construction, retail, and wholesale trade.
The move required committing additional time and people—which were already at a premium internally at the company. To avoid diverting resources away from other ongoing marketing initiatives, the Client decided it was better to outsource the prospecting activities for the new campaign.
For example, the Client’s inside sales agents generated an average of 10 sales appointments on their own each month. The company wanted to know whether a third-party provider could help increase this figure, so that they would be able to evaluate if outsourced prospecting was a viable long-term strategy.
The key was to partner with an outsourced marketing agency that had the right services and track record to effectively meet the company’s prospecting requirements:
- Expand their target account list with potential customers in the mining, construction, retail, and wholesale trade industries
- Identify the most relevant decision makers in each target account, which include IT executives and CFOs
- Contact and qualify these decision makers, then book high-interest prospects for a phone or face-to-face sales meeting
- Designed and implemented a long-term account-based appointment setting campaign for an IT/telecom consulting company that targets large U.S-based enterprises
- Added pipeline value of between $1.3 million to $4.2 million in potential new business
- Expanded pool of target accounts and qualified decision makers available for the Client
THE CALLBOX SOLUTION
Callbox’s account-based appointment setting service was exactly what the Client needed. After a thorough evaluation process, the Client signed up for a three-month pilot campaign. This was then renewed for three more terms, and the ongoing project has now completed six months of campaign activities.
Callbox worked closely with the Client to tailor a campaign plan that matched their specifications. The campaign was continuously refined throughout the project and covered three main activities:
Account Research and Selection
- The Client wanted to target businesses with at least 500 employees and annual sales of more than $50 million from mining, construction, retail, and wholesale trade.
- The target account specifications were further refined by analyzing the Client’s top customers and comparing qualities such as technologies in use, geographic focus, and customer base.
- Callbox then prepared the target account list using Callbox’s in-house database and external data sources.
Account and Prospect Profiling
- There were two key buyer personas (decision maker groups) targeted in the campaign: IT executives and CFOs.
- The Client provided further demographic and firmographic qualities for segmenting the contact list.
- Each record was thoroughly verified before being submitted to the Client for approval.
Multi-touch, Multi-channel Outreach
- Each of the two target prospect segments was contacted and qualified using a unique lead nurture path and personalized messaging strategy.
- The lead nurture paths combined phone, email, and LinkedIn channels to maximize engagement and response.
- Each lead nurture path was comprised of multiple touches, which were carried out based on a combination of automated engagement and one-on-one interactions.
The entire effort has completed a total of six months of appointment setting activities and is now about to start its seventh month. So far, the project has met all key objectives, from individual outreach channels, all the way to overall campaign results.
Outreach activities for each channel have produced the following key results:
- Phone: 23% decision maker reach rate
- Email: 34.0% open rates, 11% CTR, 7.1% reply rates
- LinkedIn: 39% InMail reply rates, 177 new connections
In terms of account-based prospecting, the campaign has so far delivered:
- Accounts touched: 6,878
- Average touches per account: 15
- Average contacts per account: 3.2
The Callbox team has delivered a total of 104 qualified appointments (sales-qualified leads) to the Client throughout the campaign so far. That translates to around 17 appointments each month, which is 1.7 times higher than what their inside sales team can produce on average.
Using the Client’s own conversion metrics (40% lead to proposal rate and 50% proposal to close rate) and average deal size of between $60,000 to $200,000, the Client can potentially add between $1.3 million to $4.2 million in new sales from the Callbox-generated appointments.