Continuing our series unearthing the secrets of Xeneta’s successful, fully automated, outbound marketing campaign, Fernando Nicolić Director of Demand Generation at Xeneta shares the all-important details on the metrics – from conversion to revenue and more.
Alex: Walk us through the conversion rates that you’re seeing.
Fernando: Right now, I would say; from lead to MQL conversion is between 5% and 10% and from MQL to SQL 20%.
Because the funnel filters low ROI leads out, those 20% are very important for us because at that point they should have high lead scoring and be super duper qualified. The probability of conversion to customer becomes very high.
Alex: What’s the point in that 30 day cycle where you see the most conversions happening?
Fernando: I would say the third touch point has the most conversions for prospects in the lead life cycle stage. We usually get some traction at the first and second touch points but the third is where we see higher open rates, click rates and reply rates.
For MQLs, the point of most traction depends on where they are on the lead scoring. It’s also important to recognise that it might not be the content that is contributing to any lack of traction. It could be that your email is just being sent at the wrong time and you just need to send it again in order to get a response.
We’re being very active on having a lot of touch points because we’re seeing that the engagement comes much later on than the case studies and blogs tend to suggest.
Alex: Walk us through the costs typically associated with generating a new meeting
Fernando: This was an entirely organic strategy – no paid ads at all. The cost was really just the cost of the tools (Phantom Buster, HubSpot, Salesforce and premium LinkedIn profiles), the infrastructure and the combined team salary.
Alex: Were costs the key driver?
Fernando: Time is really the big driver here and also the cost of opportunity – what opportunities would you be sacrificing if you were to do everything manually?
Being fully automated gives us the time freedom to be more creative and really hone down on the quality of the copywriting, emails and subject lines. We’re able to afford time to experiment with A/B and multivariate testing across landing pages and throughout our digital footprint. I would say that is where the real ROI is.
Alex: What about the revenue influenced, does the ROI speak for itself?
Fernando: For this year’s activities’, revenue is at $848k US from conversions. When you really think about how small the team is and the impact of these automation activities that’s a great return. I would say the revenue influence is a very strong indicator on how successful this whole approach is.
It’s also a reflection of our target audience. What we are offering is very novel – the industry as a whole, historically, don’t really mess with SaaS platforms or digital products. It’s still mostly Excel sheets… and faxes! Many of our prospects have worked in the industry for decades and have done things a certain way. So, if they see a paid ad, even with great copywriting, it still won’t immediately resonate with them.
There are also no competitors already doing this and therefore no landscape to reference. This makes direct contact channels like LinkedIn and email crucial for us because they enable us to open up a dialogue with these people and to slowly convince them of the value of our platform before taking them through our prospecting engine.
Next, check out the tools Xeneta used to make this all happen here.
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