CASE STUDY: MARKETING & SALES
Fortune 500 Financial Services Firm Acquires 470 New SMB Customers
National financial services provider uses the Prime Growth Framework to help hit revenue growth goals and increase SMB campaign response and conversion rates.
SMB Clients Acquired
The company used the Prime Growth Framework to acquire 470 new SMB customers in a one year period.
Lead-To-Deal Conversion Rate
Their campaigns using Prime Growth averaged a 3% lead-to-deal conversion rate, 67% higher than their SMB outreach campaigns not using Prime Growth, and 4x the industry average.
Email Response Rate
Their campaigns using Prime Growth averaged a 16% email response rate, a 70% increase over their SMB outreach campaigns not using the framework.
Email Open Rate
Their email campaigns using Prime Growth averaged a 78% open rate, 3x that of their SMB outreach campaigns not using the framework.
Call Reach Rate
Their call reach rate was 46%, a 44% increase over their SMB outreach campaigns not using the framework.
TAM Visibility – New SMB’s
The company previously had no visibility into new, seed stage (pre-opening) SMB market entries.
TAM Visibility – Expansion SMB’s
We doubled the company’s visibility into current expansion stage SMB’s.
This Fortune 500 financial services provider approached SMB Intelligence to help them hit their ambitious revenue growth goals and to gain an edge in the highly competitive market for providing financial services to small businesses.
• Ensure visibility into their total addressable SMB market
• Prioritize new & expanding firms
• Increase campaign response rates
• Increase conversion rates
The company used the Prime Growth Framework for Suppliers to gain a powerful new perspective on the small business sector, by using growth-based classification rather than traditional small business segmentation. This perspective enabled them to identify, understand & effectively engage with current prime growth firms – the new & high growth small businesses currently most likely to be receptive to new solutions.
Through the bi-weekly Prime Growth Briefing, we continually identified current prime growth firms for the company, and segmented them into seven groups based on their current growth priorities. This segmentation provided the company with insight into the high-level mindset of owners in each segment, and what they were currently working to accomplish.
Leveraging this insight, we worked closely with the company to create highly relevant value propositions, by aligning their solutions to the current growth priorities of each segment. We then created custom, highly personalized messaging templates for each segment that positioned the company’s value propositions in the context of the industry category and local community of each small business owner.
As the dataset of prospects was pre-segmented, and we provided custom, highly personalized messaging for the company for each segment, they were able to deploy a pilot quickly and with little effort.
The company also chose the option of running their email campaign pilot through a pre-configured instance of a leading sales engagement tool, provided by SMB Intelligence. The tool had the prospects loaded, segments created and messaging written, meaning the company could deploy it in minutes, and immediately test the framework without having to first integrate it into their tech stack.
Through a combination of intentionally choosing to target prime growth firms, aligning value propositions to growth priorities, and highly personalized messaging, their campaigns with the Prime Growth Framework gained them 470 new small business customers and substantially outperformed their other SMB outreach campaigns.