An online, service-based company wanted to boost monthly revenues but did not have the staff to meet the increasing demands of providing more services. Plus, the client was turning away nearly half of prospects due to prospect budget constraints.
Our review included observing sales calls with prospects and surveying existing or previous customers to determine what additional services could be offered. We revealed the following issues:
- Prospects were not qualified or profiled before the sales pitch
- Existing and pervious clients wanted products in addition to services
- Strategic partnerships and business relationships were not being utilized to their full advantage
Before we addressed the issues for new offerings, we first developed a stronger marketing strategy to reach the desired target audience. This included the creation of marketing funnels and lead nurturing programs where leads could be scored based upon their interactions with the client’s content, website, and staff and targeted to their specific interests. To develop the marketing funnel, we used market research to better understand the demographics and firmographics of the most profitable audiences, and what needs were not being filled by the market. We also took inventory of existing content and marketing materials.
Using the demographic data and survey results, we worked jointly with the client to develop several new offerings that including products available for digital download and web-based virtual seminars which allowed those with limited budgets to take advantage of services in a group setting. We helped the client broaden their service offerings by creating a commission-based lead referral program to subcontract work to strategic partners. These new offerings were then supplemented with lead nurturing programs to encourage larger ticket purchases plus repeat and referral business.
- Increased overall revenue by 150%
- Client was the first in the industry to offer training by webinar and teleconferences
- Client remains market leader and an established brand in the industry
- Digital product offerings generate over 30% of annual revenue
- Marketing funnels and nurturing campaigns provide mechanisms to do more with less staff