Category Archives: Case studies

Improving Cash Flow With Earlier Renewals

CASE STUDY

Background – A major software organization was looking to reduce the lag time on service renewals and improve cash flow. It was decided to include maintenance renewals as part of the sales team’s responsibilities.  An email program, with messages going out in each reps name was undertaken and the sales reps were also charged with calling customers to remind them to renew on time.

Challenge – The sales team was not making enough calls to have a noticeable impact on renewals and the emails were not driving enough responses.

Alternatives

  • Increasing the number of emails was rejected due to concerns with over saturating the customer base with emails, since this was also the preferred communication tool for others groups within the company.
  • Penalizing the sales team for not meeting a renewal calling quota was rejected as maintenance renewals were a lower priority than new software sales – their main mandate.
  • Shifting the calling to an inside sales team was rejected since the team was too small to meet the volume and not trained to deliver outbound calls.
  • Outsourced telemarketing/telesales was rejected due to the high cost to contract enough callers to contact the large lists in a short time period.

Solution – The Company contracted Boxpilot to execute an outbound voicemail program

. The messages not only altered customers to the renewal emails to be send within one day of the campaign, they also drove responses to the inbound call center which was well equipped to manage the inbound renewal requests.  Boxpilot was selected because:

  • Having the sales reps record messages to their own client base supported renewals and an improved relationship with the reps.
  • The guaranteed delivery timing allowed the voicemails to support the emails and increase the email responses as well as inbound phone
  • Guided voicemail was considerably more cost effective than adding or outsourcing outbound telemarketing
  • The large customer base could be completely covered by voicemail over 1-2 day campaigns.
  • The delivery speed and low cost allowed for multiple voicemails to support responses.

Results– Within 60 days, inbound requests for maintenance renewals increased from 500 to 1200/month.  This volume was sustained as long as the voicemail campaigns ran.  Over the period of the program the cash flow lag time decreased from -60 days to -50 days.

Driving Live Event Registration and Improving the Planning Process

Case Study

Background:

ZirMed specializes in revenue cycle management solutions for healthcare providers , a highly competitive market where lead generation is a challenge. A mix of activities is necessary to acquire new leads and nurture them through the cycle. 

The Challenge:

Events are an important activity for ZirMed to bring new contacts into the funnel and while they provide an outstanding opportunity for vendors to present the most compelling story to an executive audience, tough competition and reduced staffing and travel budgets have negatively impacted registrations and attendance. Additionally, a shortage of past response data made it difficult for the marketing team to establish accurate data driven benchmarks for projecting the registration/attendance impact of different programs. 

This, in part, had created a problem with lower than expected registration numbers for a rapidly approaching event in a major center. A quick registration boost was needed.

Alternatives:

Kevin Weinstein, Vice President of Marketing for ZirMed recognized from past experience that a telephone call and personal invitation in support of the planned email program could deliver the required increase, but he was faced with three critical problems:

  1.   Marketing/ Sales could not divert sufficient staff to execute the 1,000 plus needed calls.
  2. The calls were required within a short window in order to sync up with the email campaign and be delivered in time to impact the registration numbers.
  3. The cost required to hire outbound telemarketing resources capable of execution within the timelines was not within the event budget

Luckily, Kevin had worked in the past with Boxpilot to drive registration to other events, so he as aware that guided voicemail could deliver the registrations, within the required time. He was knew that the efficiencies of delivering 1000+ calls in a day allowed for execution at a much lower cost than traditional telemarketing services.

Execution:

Only two key deliverables were necessary from ZirMed to get the campaign up and running within 48 hours of the original booking.  ZirMed was able to immediately access the dial in recording system and record a short message that would be delivered to all the contacts on their list in front of a follow up email.  The only other requirement was to upload a list, in the form of an Excel spreadsheet with the company name, contact name and whatever phone information was available.

Results:   

                                                                

The guided voicemail campaign produced excellent results on a number of fronts:

  1. The calling program generated an 8% positive response rate
  2. The delivery of 1000+ calls on the same day using the same message has helped to establish data driven response benchmarks that will help to project future events.
  3. Updates were offered on the list data provided for the campaign which revealed areas of inaccuracy in the database and also provided indications of calling services well suited to reach an even larger audience for later and ongoing programs.

Guided Voicemail- Live Message – Fast Communications for a Time Limited Offer

This is a case study

Background – A software organization specializing in payment solutions for professional practices had a short term opportunity to boost sales to meet a compliance deadline.

Challenge – The potential base of smaller medical practices was too large to manage with outbound calling from their own sales team.  The solution they were offering was on par with competitive products, so being the first to communicate the offer was the only competitive advantage.  Practices varied but most decision makers were practicing physicians.

Alternatives

  • Lack of email addresses in the data base precluded email as a stand-alone option. Email alone was also not considered to be sufficiently intrusive, due to the competitive nature of the market.
  • A high visibility direct mail piece was considered and rejected because of the time lines and lack of urgency.
  • Traditional outbound telemarketing was rejected due to the high cost and slow penetration rate.  Additionally, without detailed product knowledge, telemarketers could
  • Computer dialed voicemail was rejected due to the lack of direct dial numbers.
  • Guided voicemail was the preferred alternative as it was fast and affordable. It also allowed for the client to maintain control over the message delivery and drive inbound inquiries. However, in the early stages of the program it was discovered that up to 50% of the professional practices did not use voicemail.  Receptionists took messages during the day and answering services managed in the evening.

Solution – Boxpilot created a hybrid messaging service for the program.  It combined the flagship guided voicemail service with a new offering – Live Message.  When Boxpilot’s callers were advised that voicemail was not an option, they instead verbally communicated the key information to be recorded by receptionists and assistants.  In some instances, the callers also directly communicated the contact information to the decision makers who in turn called the company for details. The Live Message communication also created an ideal opportunity to harvest new email addresses to facilitate “More Information”.

Results – The fast set up and message delivery allowed Boxpilot’s client to reach 70% of their prospect base before their competitors made their first recorded contacts.  The client’s inbound call center was pushed to almost 100% of capacity managing program inquiries.  Overall, the client exceeded their sales goals for this program by 18%.

More Renewals and Better Forecasts with Guided Voicemail

Background:

A large non-software client needed to improve their renewal rates and the accuracy of revenue projections.  In a weak market the contract renewal rate had been declining and even with over 61 dedicated phone reps, over 40% of renewal sales lapsed without any sales follow up.

Challenge:

Because the previous sales management had supported aggressive, high pressure selling tactics, the new sales team was subjected to many negative customer encounters when making renewal calls.   As a result call volumes were well below objectives.

Alternatives:

  • Email was considered and rejected as it created very low response rates. It also failed as a means to rebuild a personal and positive relationship with some irate customers.
  • Replacing reps who did not meet calling quotas was rejected since the problem extended to over 80% of the sales team.

Solution:

The Company selected Boxpilot to execute an intensive calling campaign with voicemail plus synchronized email left 60, 45 and 30 days prior to renewals.  The messages were recorded by the sales reps and provided information about renewals with a concerted effort to communicate the emphasis on better customer service and a positive tonality.
Results:

Within 120 days the percentage of resolved renewals increased from 56 to 75% and the positive response for renewals increased from 25 – 33%.  While the positive responses were lower than desired, they were significantly better than before and the company management was able to create benchmarks of anticipated renewals to create new incentives for both the customers and the sales team.