Like many fast-growing organizations, LYONSCG found itself working from a database of too many prospects—50,000 to be precise—developed through event attendance, sales team lists, inbound requests, and webinar attendees. As a result, the marketing team was handing off too many leads to sales reps, who then engaged with randomly chosen contacts. Both teams struggled to identify the vital few leads that were a good fit for the company.
Realizing that no progress was being made in endless discussions about the ideal customer profile, Steve was struck by an aha moment. “I recalled analyst coverage of predictive analytics and it made me realize that my previous assumption about knowing our customer profile and addressable market was not valid. It also struck me that predictive marketing might just be the perfect solution to our problem,” says Steve.
The results of the trial were eye opening. LYONSCG’s sales reps were spending 50% of their time prospecting against C- and D-rated leads, even though 85% of opportunities originated from A- and B-rated leads.
According to Steve, if the firm’s sales reps shifted their prospecting time to the EverString rated A and B leads, they could drive as much as nearly $17 million in additional pipeline and $5.5 million in additional revenues in a single year.