From painful no-show calls to a 440% jump in opportunities
eDynamic was using a cold calling company to book leads for them. Unfortunately, the cold calling agency wasn’t doing anything other than scheduling calls. They weren’t qualifying any of the prospects ahead of time.
Total opportunity creation increased
Conversion rate from call to opportunity increased
Revenue from outbound increased
Enter Predictable Revenue.
When eDynamic switched to Predictable Revenue, attendance rates for sales calls doubled, the number of opportunities created from outbound soared by 440%, and revenue from outbound jumped by 40%. Not too bad.
Throughout this post, we’ll detail why eDynamic transitioned from a cold calling agency to Predictable Revenue and take a deep dive into their results before and after the switch.
When eDynamic started, its early growth came primarily from word of mouth and customer referrals. As the company grew, however, they needed to increase sales in order to hit their growth targets and turned to a cold calling agency to help them out. And the early results were impressive: eDynamic quickly scaled up to 40 meetings per month.
Unfortunately, the excitement didn’t last.
“The call center was making very introductory calls…basically, they’d confirm if the prospects were the principal or superintendent and book some time on our calendars. People didn’t know why they were speaking to us and we had a lot of no-shows and unqualified meetings as a result,” says Ricci.
“The cold callers were rewarded just for putting a meeting on our calendar. Prospects were being annoyed because they just kept calling with the same message. It’s possible to make a good call but there’s so much more work and investment required to do it really well. The cold callers weren’t making these investments, we could hear it on the call recordings. The conversations they were having weren’t being used to qualify the prospects, there was no sense of urgency, and there was no reason for them to get on the call. We spent more time rescheduling these meetings that nobody was going to show up for than actually talking to customers.”
Ricci and her team found that 63% – 63%! – of prospects weren’t showing up to meetings, which lead to even more work trying to reschedule the calls that the team knew would never end up happening. Sadly, things weren’t much better when prospects did show up; often they weren’t interested in their products or weren’t even involved in the decision to purchase software.
“It wasn’t resulting in pipeline growth, we weren’t getting the quality of prospect that we wanted, and it became a huge time waster,” adds Ricci.
After an entire year, Ricci’s team was frustrated by the lack results and needed to find something that would help her hit their growth targets. She decided to pull the plug on the cold calling agency and started looking for a partner that could help them achieve their goals.
School Experience Manager
Switching to Predictable Revenue allowed Ricci to partner with a company that knew her market and could generate the quality prospects she needed. The first few meetings booked from the Predictable Revenue team felt dramatically different in two key ways: the prospects knew exactly why they were on the call and they were interested in learning more about Ricci’s solution.
A huge step in the right direction, to be sure.
Even though they already had a good idea of who they wanted to target, Ricci’s team felt our unique Nail Your Niche workshop was incredibly valuable. The sessions helped get everyone on the same page when it came to campaign strategy and how we would go about reaching their prospects. As a result, we were able to build a strong list of contacts for each of their target accounts. Next, Ricci’s Account Strategist crafted messaging for each of their market segments based on our best practices and the domain knowledge that eDynamic brought to the table.
“I think the automation piece allowed us to reach more prospects, more consistently. The pressure isn’t there when you’re using email. When their cold callers were struggling to hit their targets, the prospects could tell,” says Ricci.
“I got a lot of feedback from people who were contacted by our cold callers. They would say, ‘I saw the call display and I knew what they wanted but they were so annoying because they just kept calling with the same script.’ The Predictable Revenue approach is a much more logical workflow for generating initial meetings.”
The Bottom Line: How eDynamic Learning has grown using Predictable Revenue
- Total opportunity creation increased 440%
- Conversion rate from call to opportunity increased 260%
- Revenue from outbound increased 40%
“We noticed a real positive difference in the responses right away plus a big increase in the show-up rate. We are having more legitimate conversations and getting more qualified leads,” says Ricci.