One of Invenio’s clients, we’ll call “Magnificent Software Solutions, Inc.” (MSS Inc) a global software company, was struggling with the challenges of feeding and nurturing its sales pipeline while staying hyper-focused on closing deals.
MSS Inc’s sales team simply didn’t have the expertise to effectively generate new leads from marketing campaigns on a much-needed consistent basis. Conversion rates were lagging, while at the same time, dials-to-opportunities were out of alignment for the whole program and per rep.
Magnificent Software Solutions Inc’s sales team problem was two-pronged:
- Sales conversion rates were underwhelming.
- The company lacked internal resources to effectively implement a true inside software sales initiative that focused solely on lead generation for this target market.
These combined issues were holding MSS Inc back from meeting revenue goals for this product stack. As sales reps turned around from closing deals, their sales pipeline was in dire need of attention.
The large software company outsourced to Invenio, which supported lead generation efforts across multiple product stacks within the upper mid-market space. Invenio’s primary focus was to net consistent new leads for the sales pipeline. Invenio selectively hired trained and managed 36 resources for the program.
The sales pipeline quota was based on team capacity and quality of marketing lists that the large software company provided. List quality ended up being a key factor in the inside sales team’s performance. As better quality lists were introduced to market, the team’s performance continued on an upward trend.
As Invenio hit a steady state, the number of dials to opportunity decreased and conversion rates increased to as high as 30%.
Over the course of four months, the Invenio inside sales solution generated $70.2 million in qualified pipeline, which led to $1.3 million in closed sales within the first 90 days of the program. Leveraging marketing leads generated another $23.7 million in net new pipeline.
Ready to learn more about how Invenio helps throughout the sales cycle?