Through experimentation Transcepta found their typical buyer doesn’t respond to many traditional marketing channels like PPC ads, blog posts, or webinars. Their audience has been doing things the same way for years and rarely searches for a solution to improve their processes.
Instead, the team found the best way to generate new leads was through old-fashioned sales outreach. But sales outreach is incredibly time intensive and the Transcepta sales team is lean, operating with one full time SDR and one full time AE.
Their SDR was doing an incredible job generating leads, but he was already maxed out. Transcepta needed a way to scale quickly without spending the time and money to hire and train a new employee.
To scale their outbound SDR efforts Transcepta partnered with Upside Sales.
To build a strong foundation for outreach, Upside worked with the team to better understand Transcepta’s market, current customers, and software platform. Upside also reviewed Transcepta’s current sales process to ensure that sales leads were being properly distributed and nurtured. Upside found that In the past Transcepta had used Hubspot to try and automate their sales outreach but had abandoned it in favor of manual SDR outreach due to low engagement rates.
Instead, Upside built Transcepta a multi-touch outreach engine in a flexible platform that can prospect their ideal client profile at scale. Upside identified 54,414 decision makers based on Transcepta’s targeting criteria then crafted value-based sales sequences designed to drive engagement.
The outreach engine enabled Upside to communicate with every single engaged prospect simultaneously over the lifespan of the lead until a conversion point was reached. The Upside sales sequences commanded much higher engagement rates than previous efforts:
Before: 12% Open Rate | 5.3% Click Rate | 0.4% Reply
After: 37.3% Open Rate | 25.3% Click Rate | 2.3% Reply Rate
Once a prospect was ready for a demo, Upside handed the lead off to the Transcepta sales team to close. Missed meetings were routed back to Upside to follow up and re-engage, as well as any SQLs that had gone dark for more than 60 days. Because the leads Upside delivered had been nurtured so effectively, they had the highest close rate and a faster lead-to-close time of any marketing or sales channel.
Upside sales outreach campaigns aren’t simply “set it and forget it.” They are actively managed based on prospect engagement and are frequently updated with fresh content like new case studies, videos, and blog posts. Over time, Upside identified trends in how various personas responded to outreach and who else they involved in the sales process.
One trend was an increasing interest in Transcepta from the mid-market segment (companies $100M – $500M in annual revenue). This was surprising for the Transcepta team because historically they had focused their marketing and sales efforts on enterprise-level companies ($1 Billion+). To capitalize on this insight Upside proposed a new campaign targeted at the C-Level decision makers at mid-market companies.
The campaign took off, generating enough leads for the team to effectively double their sales growth YOY. The sales pipeline also hit a record high of $1M. The reason was because enterprise organizations are historically slow to act, and often have 1 year+ sales cycles. The contract values are high but Transcepta might only close a couple of these a year. The mid-market was much more agile. Decision-makers showed up to calls ready to buy. Contract values were lower but the volume was much greater.
At year end, Upside had generated roughly 40% of Transcepta’s 2020 revenue and helped propel the company to their biggest revenue year ever.
Upside now handles the majority of all outbound outreach for Transcepta. Because they manage the majority of prospecting and nurturing, Transcepta’s full-time SDR can spend more time going after high-value business, rather than “pounding the pavement.” Upside also continues to deliver valuable insights into the pulse of the market so Transcepta can always remain one step ahead of their competition.
Our team of lead specialists removes the headache of prospecting and nurturing, freeing up your sales to do what they do best, close deals! Our proven process enables our team to communicate with thousands of potential customers simultaneously, so you can reach your entire addressable market and systematically uncover every possible sales opportunity. Curious about how we can help? Get in touch
Transcepta is a B2B SaaS solution that enables enterprise organizations to automate their Accounts Payable invoice processing.
Upside’s B2B Lead Gen Solutions can scale and sustain your growth!