How to Increase Revenue through Better Communication with Customers

/How to Increase Revenue through Better Communication with Customers

A startup tech company that created a cloud-based tool to monitor and maintain beehives originally launched its marketing efforts with broad-based email tactics (“spray and pray” digital marketing) and used a freemium-based model to sell its product. They wanted to increase their revenue and create better communication with customers. Their clients include beekeepers, ranging from backyard hobbyists to full-scale honey farmers, who rely on this tool to keep their bees healthy, productive, and happy.

Like many other startup tech companies, although the company achieved some initial success with these methods, it soon found itself with 16,000 unsegmented contacts and low rates of conversion from free to paid accounts. As a result, this startup tech company decided to engage a full-service marketing company to get their business back on track.

Eventually, the company developed a marketing automation plan with a straightforward goal: Reach the right person, with the right message, at the right time. This included developing a segmentation strategy and implementing workflows and email drip campaigns to nudge the startup’s customers down the sales pipeline.

They segmented their users into three categories based on the size of their beekeeping operations:

  • Backyard beekeepers,
  • Sideliners, and
  • Commercial apiaries.

This allowed them to send their customers only the most relevant information, which attracted them further down the appropriate sales pipelines.

While most companies make their customers fill out a form, this company decided to collect high-value information in increments to build their list of segmented customers. They then email their customers with content that is relevant to their indicated goals and preferences only. They also created personalized communications that are action-oriented through a series of automation tasks, workflows, and emails designed to further segment its subscribers and cater to their particular interests and challenges.

Their final step toward segmentation was to move unresponsive leads down the sales pipeline by adding a separate mailing list of unresponsive or inactive leads, who they only reach out to once each quarter, sending them media-rich tutorial emails about the next steps to getting their hive tracking set up (a demo, or features of an upgraded account). This dramatically improved the company’s conversion rates from free trials to paid accounts.

After implementing marketing automation, this company created robust profiles for all of its customers for improved target marketing, increased engagement rates from 5% to 40%, and generated a tenfold increase in conversions from free trials to paid accounts.

They’ve been able to not only inform their clients and increase revenue, but they’ve also gained valuable insights into how the company can improve.

Lastly, they discovered that most of their customers were from larger businesses, so they developed a club edition of their application to better target that segment. The company also learned that 70% of their leads use iOS operating systems on their cell phones, and they’ve begun creating an iPhone app to reach their customers even more efficiently.

Next Level iMedia

Right now, you can have an entire marketing agency available to fulfill your marketing needs – for a fraction of what it would cost to hire and manage your own team. Or, see how you can benefit from having Next Level iMedia work alongside your existing marketing team to create a unique marketing plan tailored to your company.

Learn more about how Next Level iMedia can be of service to your organization. Visit our contact page at: http://nextlevelimedia.com/contact.

2018-03-06T18:13:01+00:00