Stop Trashing Valuable Leads!

How We Used 80% of Our Junk Leads to Reach Viable Prospects

Ran Gishri, VP Marketing

About Me

Ran GishriVP Marketing at LeadspacePrior to Leadspace: Zend, BMC, Identify, Aladdin, Mercury, MusicGenome, …

Email: rgishri@leadspace.comTwitter: @rgishriBlog: rangishri.blogspot.com

OUR CASE STUDY

About Us

An innovative solution that helps B2B Marketing and Sales teams increase efficiency in lead generation and sales prospecting

Our Customers

• B2B companies• Have one or more of these challenges:– Need to find good new prospects quicker– Need to qualify and rank leads– Need to increase connect rates

• Mostly in hi-tech• English-speaking countries

Our Challenge

Quickly build a solid pipeline for our new US sales team

Step 1: Engaged an External Resource

• Hired an outside professional telemarketing center• Trained 4 agents on the Leadspace offering

Step 2: Bought a List

• 20,000 contact records • Applied company filter:– 200 names from large companies assigned to in-house sales– 800 names defined as priority A– 1,000+ names defined as priority B– Rest were trashed (company not relevant)

Step 3: Cold Calling

From the 2,000 ‘acceptable’ leads, we found that -

• 40% of the contacts were outdated– Person no longer with the company, bad contact info, etc.

• 30% of contacts seemed relevant but were unreachable

• Average duration of calls was 1:36m (short!)– Most of the people the agents did connect to were not

relevant to what Leadspace had to offer

Step 4: Added the Leadspace Solution to the Mix

• Agents trained on how to use Leadspace

• Leads previously categorized as “junk” were used to find relevant prospects in the same company – worked in 80%(!) of cases

• Contact information retrieved via Leadspace from multiple data sources

How the Magic Happened

Leadspace finds relevant prospects based on who they are, what they do and how similar they are to the people you have already sold to

Web sites

Learn Find Enrich & Rank Optimize

Social Networks Websites & Blogs Contact Databases CRM

Individual-Level Intelligence Layer

Finds and Enriches Relevant Prospects

Finds and Enriches Relevant Prospects

Step 5: “Lukewarm” Call

• Agents called prospects identified by Leadspace

• Real Contact Success Rate tripled(!)

• Conversion rate (call-to-demo) increased to 33%

Step 6: Tuned the Ideal Customer Profile

• Adjusted profile on-the-fly based on agents feedback

• Turned the list from a static entity to a dynamic one

• Switched from a fixed number of contacts to a self-expanding list – “prospects on demand”

End Results

• 30% increase in sales efficiency– Connect rate increased– Time-to-opportunity reduced

• Effective cost per lead decreased

• Managed to quickly create a good pipeline!

Thoughts

• Invaluable information about potential customers exists in myriad online sources, but is extremely hard to gather manually, and old-school tools can’t help

• Effective Cost per Contact is a critical factor when buying name lists

• Tools like Leadspace that intelligently find prospects in social media and contact databases drive a substantial increase in efficiency

• Is it time to re-think “lists”?

THANK YOU!

Schedule a Live Demo of Leadspace

www.leadspace.com

@rgishri