How ServiceSource Engaged the Lead Pipeline to Uncover $3M in New Opportunities.
Download to learn how ServiceSource’s inside sales experts uncovered new revenue for a leading software provider.
Sales Qualified Leads Achieved - 100% of Goal
Pipeline Revenue Generated
In today’s highly digital environment that places a premium on speed and flexibility, the sales funnel is anything but linear. Touchpoints span both channels and personas and are not often bound by any one set schedule. Modern customers operate on their own time, doing their own research, and making the most informed decision possible.
While this position of power is certainly advantageous for customers, it creates a new problem for the vendors
charged with courting them: keeping a close tab on leads, cultivating them, and establishing the infrastructure
to convert marketing qualified leads (MQL) into sales qualified leads (SQL), so sales teams can optimally allocate time and resources to the right prospects at the right time.
Global Software Provider
In early 2020, a global software company identified an opportunity to improve upon its MQL conversion strategy and create deeper relationships with customers earlier in the funnel. While they recognized its importance to the overall sales organization, the company lacked the resources to quickly stand up a team required to meet the demand.
It was the classic discussion of build versus buy at the company. At an organizational level, there was an understanding of the opportunity to boost revenue, but the time and resources needed to build an exceptional foundation from scratch was too high and they needed to execute as quickly as possible to capitalize on existing leads.
They needed a partner that could not only own and optimize lead conversion but would serve as a critical partner to its channel network – one that ultimately carried the leads through to close.
In February 2020, ServiceSource designed a partnership program to support the software company’s lead conversion. Shortly after contract signing, ServiceSource’s Inside Sales team would go live with the mandate to improve the company’s lead conversion, with the target goal of converting 95 MQLs into SQLs, within the first 90 days.
“By design, ServiceSource’s Inside Sales team eliminates the guesswork typically associated with filtering and qualifying leads,” said Charles McCarter, VP Selling Services of ServiceSource. “We use a comprehensive reporting system that tracks critical metrics and indicators, so we can convert opportunities as quickly as possible. This was a significant factor in how we approached their needs right out of the gate.”
The ServiceSource Inside Sales team went live in June 2020, and immediately set to work engaging prospective customers and building stronger relationships from the get-go. This relationship-first approach, combined with ServiceSource’s unmatched data-driven insights, proved to be exactly the right recipe. ServiceSource delivered those 95 leads within the 90-day window. On day 91, the company initiated new conversations to expand the partnership further.
ServiceSource not only met their goals, but those leads translated into significant pipeline. The first 95 leads represented millions in pipeline revenue – which was achieved in a short amount of time, by a small yet nimble team. ServiceSource more than proved its mettle as an inside sales solution and became a reliable go-to-market partner.
Today, ServiceSource continues to work on lead conversion with the channel team to optimize resources and drive new revenue opportunities for the global organization.
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