In this series, we ask Sales Tech Executives to describe how their solution can change a sales organization in a significant way. We call it Sales Tech Game Changers.
Nancy: What are the top 3 ways your solution changes the game for a sales organization?
Matt: LeadGnome’s reply email mining service gives Sales a competitive advantage by identifying actionable intelligence that presents an opportunity to connect with the right leads, at the right time, to drive more revenue.
- Penetrate Target Accounts for More Sales-Ready Leads – Because reply emails are coming from accounts you’re already targeting, the alternate and replacement contacts LeadGnome finds are not only within the account, but more than likely influencers and decision makers within the opportunity. With the Gartner Group finding that it takes an average of 7 people in an organization to make a B2B buying decision, your current accounts should be a high priority when it comes to prospecting for new leads.
- Gain a Timing Advantage Over Competition – Data from Gartner and SHiFT Selling shows that if you’re in an opportunity first, you’ll win the deal 74% of the time. So when sales trigger events, like a lead leaving the company, are identified from a Left-The-Company (LTC) auto-reply, you’ll crush your competition. Why? Because they are waiting for a hard bounce or an alert from a list/database vendor who monitors press releases. And because LTC auto-responses are usually left in place for several months, you gain a significant timing advantage over competitors that aren’t mining reply emails.
- Increase Pipeline and Sales Velocity – Penetrating target accounts and learning about sales trigger events first has a direct impact on revenue. Quickly getting to that magic number of 7 contacts within an organization has the potential to shorten your sales cycle and increase sales velocity. Out-Of-Office auto-replies, for example, often contain alternate contacts within your lead’s organization. In addition, changes in email domains may indicate rebranding or M&A activity.
Nancy: What are the top 5 things your solution allows salespeople to do better, or faster than they can today?
Matt: LeadGnome automatically mines the sales intelligence from auto-reply and human-reply emails, eliminating the manual process and freeing up more time for actual selling.
- Add 20% more leads from replacement and alternate contacts in reply emails
- Capture phone numbers and other hard to find contact information (e.g. title changes) within target organizations, expanding your reach
- Eliminate data entry – LeadGnome synchronizes data automatically because salespeople spend too much time updating their CRM (e.g. Salesforce) – many studies show a whole day is wasted on data entry each week
- Identify sales trigger events – beat your competition to opportunities and increase your win rate to 74%
- Reduce noise – Automatically ‘sweep’ auto replies out of your inbox, so you can focus on engaging and closing deals
Nancy: Describe the first 30 days after a company purchases your solution.
Matt: LeadGnome customers are up and running in minutes and sales intelligence pours in immediately after every email cadence/campaign is sent. Connecting LeadGnome to Gmail or Outlook is literally just a push of a button. Each reply email is categorized so you know what to do with the data. For example, if it’s an out of office auto-response, then Sales can schedule a follow-up call/email based on the return date (LeadGnome does this automatically for Salesforce customers). For other tips and tricks I recommend reading our B2B Demand Generation eBook.
Many of our customers also configure LeadGnome to tidy up their inboxes. After LeadGnome mines each reply email, it is automatically placed into a folder based on each customer’s preferences. For example, to make life easier and ensure your emails actually make it to the intended recipient, our customers often place Sender Verification auto-responders into a separate folder (e.g., VERIFY). Now it’s a simple task of opening each email in the VERIFY folder and clicking on the CAPTCHA link required by the prospect’s email server. Previously quarantined emails will now be delivered – increasing their chances of closing the deal.
Nancy: How have companies determined the ROI of your solution?
Matt: LeadGnome calculates ROI by using a company’s current database size, number of emails sent per month, and average sales price. Using standard assumptions based on data from existing LeadGnome customers for average reply email rate (2.5%), average number of alternate contacts identified from reply emails (50%), and lead conversion rate (.50%), we can estimate the number of leads a company can acquire annually, what percentage of their database that represents, and how much revenue growth they can expect.
From here, the ROI is calculated based on the company’s annual subscription to LeadGnome, which is determined by the number of replies analyzed each month. Using these conservative assumptions, most LeadGnome customers realize an ROI of more than 600%.
Nancy: What should companies do to ensure success of your solution?
Matt: The most important thing Sales needs to do to ensure success with LeadGnome is actually leverage the data that’s mined. This means doing your homework and researching what the data is telling you about your leads and accounts.
For example, if you get a Left-The-Company auto-response, follow that contact to her new company and sell to her there (it’s always easier to sell to someone you have a good relationship with already). You automatically get a replacement contact at your current account, and that’s your second new sales opportunity. If the account was already a customer, get in front of the new contact ASAP and secure the renewal; if you were still working the account, a fresh decision-maker may be eager to flex their buying power and purchase your solution.
But if you put the time in, you can also find out: 1) who your old contact replaced in their new role, and whether that person/organization is a good prospect; and 2) where your new replacement contact came from, who replaced them, and whether they’re a viable prospect.
The key in every case is timing. Be smart and have processes already in place. Know that this is what you need to do every time LeadGnome identifies a LTC, act on it immediately, and capitalize on the changes within your accounts.
Nancy: What are some good resources if someone wanted to learn what questions to ask, what others are doing, and purchase considerations?
Matt: DemandGen eBook – Our Transformative B2B Demand Generation eBook is a fantastic resource for sales professionals interested in driving more revenue. It covers the types of reply emails that LeadGnome mines, specifically what type of Account Based Intelligence (ABI) is found in each, and actionable ways to leverage the data.
Increase Your ROI By Mining Campaign Reply Emails – Discusses the ROI of using LeadGnome and shows interested companies how to calculate their own potential ROI.
21 Sales Tips To Gain Competitive Advantages By Mining Reply Email – Quick tips for sales professionals interested in email mining and what advantages they can expect to receive.
How Mining Reply Emails Delivers More Relevant, Sales-Ready Leads – This post goes more in-depth with what steps Sales needs to take to get those coveted sales-ready leads from reply email mining. It also touches on the importance of Sales and Marketing alignment and how LeadGnome’s solution helps facilitate that.
Email me: email@example.com – I’m also available any time to talk shop!
Nancy: Who benefits most from your solution?
Matt: LeadGnome is a B2B Sales solution that benefits organizations that leverage email as part of their sales cadence. Teams that use Sales Engagement solutions like SalesLoft, Outreach, Yesware, and ToutApp have automated the sending of emails and LeadGnome will automate the mining of their replies. LeadGnome is also very powerful when combined with Salesforce and other CRM solutions – synchronizing updates and net new leads automatically.