Gibson Sotheby's International Realty is a real estate company based in Boston that specializes in luxury real estate. One of Gibson Sotheby's real estate agents Madelyn reached out to IgnitePost seeking assistance in staying top of mind with her clients. She wanted to use IgnitePost to stand out in a more personal way. IgnitePost’s highly personalized physical outreach marketing campaigns seemed like a perfect fit for reaching out to Madelyn’s existing clients.
Sales Development Representative (SDR) burnout can create inefficiencies that hinder business, such as a high employee-turnover rate. Even in minor cases of burnout, affected SDRs are unhappy and less effective when prospecting. This will negatively affect long-term return-on-investment. However, there are various methods to reverse the consequences of SDR burnout, depending on your current situation.
With the sheer amount of emails being sent every day, it is very easy for cold emails to get lost within inboxes. However, this does not have to continue to be the case. At IgnitePost, we know that there are many ways to improve cold mail campaigns. If worse comes to worst, there are a multitude of alternatives to secure those prospects.
“Success is the sum of small efforts, repeated day in and day out” - Robert Collier
When you constantly take small, yet proactive steps to delight your customer, they will take notice. A study by Oracle indicates that 9 out 10 buyers are willing to try a product if they have a positive customer experience from the first touchpoint. For instance, a consumer satisfied by their free trial experience, or someone intrigued by a captivating email, will more often than not, be willing to purchase your product.
However, gaining that new customer isn’t as successful if you are losing old ones. A study from Accenture indicated that poor customer service costs companies across the US more than $1.6 trillion. Selling your product is important, but if your customers don’t stick around, the sale isn’t going to be effective.
Subscription based companies may nail the initial sale, but in order to generate reoccurring revenue, companies have to ensure that users are continually enjoying their experience, being delighted, and feeling valued. For example, thoughtbot found a 14% response rate when using IgnitePost’s direct physical mail outreach services as a way to maintain that valuable relationship with the customer. thoughtbot wanted to send mail to clients that they had worked with but had not heard from in the past two years. With a 6-month physical outreach campaign, they delighted consumers and gained traction.
What is Customer Success (CS)?
Customer success is the business solution to keeping customers loyal. While customer service may sound similar, customer success is vastly different. In customer service, you are reactive, whereas, in customer success you are proactive. Customer service is solely the process of resolving an issue. Customer success teams work with customer to achieve their goals so that those issues don’t arise. Therefore, customer service is much more short-sighted and customer success is forward-looking.
A cross-functional customer success team will be a revenue generating center and, on the other hand, customer service teams are usually cost centers. Essentially, customer success means putting the needs of your customers first, and not losing sight of those needs. The needs of a consumer may change throughout their journey with your company, so it is imperative to pay attention to evolving needs and challenges while they are using your product.
Reducing your Churn Rate
The idea behind investing in a customer’s long-term success stems from the logic that when they win, you win. Success metrics can be measured by tracking your churn rate.
Your churn rate is the rate at which you are losing customers and is calculated using the formula: customers who left / customers at the start of the month x 100.
For example, a subscription-based company may gain 100 new consumers this month - an increase of 20% new customers from last month. However, 5 customers unsubscribed. The positive influx of customers won’t be as promising due to the churn, also know as the loyalty plunge. This indicates that somewhere along the consumer journey about 6% of customers bolt. While the average churn rate for subscription-based companies is between 6-8%, finding ways to reduce the number of exiting customers should be a priority.
In some companies, however, short-term sales goals are structured to compensate for the loss of revenue from churn. Allowing your sales goals to rely on customer attrition is a vicious cycle. Strategies as such will ultimately fail due to the fact that most revenue comes from current customers continuing the service or even purchasing a type of upgrade.
As seen in in the funnel below, while 5-30% of revenue stems from the initial sale, a majority of revenue, 70-95%, comes from renewals and upselling. While a user’s activity stream remains stagnant until the sale is made, as depicted on the left side of the funnel, the initial sale will not carry the weight of the cost of acquisition (CAC). The cost of acquisition is the total revenue coming from sales and marketing / customers acquired within the period. Covering this cost comes from renewals and up-sells, a way to maximize the activity stream of a customer. To that end, minimizing your churn rate allows businesses, such as the subscription based company to focus on renewals and up-sells, rather than just acquiring initial sales.
Integrating Customer Success in Sales
Customer success starts in the sales process. Teams must work toward creating an all-encompassing experience for the consumer. Sales teams cannot think that a transactional relationship with the customer is enough. Sales must integrate excellent experiences with a quality product.
This is essential because buyers have endless optionality and they have more power than ever before. They are constantly hit with different products and services, and they hold the power to drop one product for a new one at any time.
On top of this, the most hyper-competitive markets right now are e-commerce and software products. It can be very challenging to remain champion in such a cluttered space without heavy differentiation. Moreover, sales teams need to act. Customer success starts when sales teams can make an early impression on the buyer. The stronger the connection you can make, the more authentic a customer experience is, and the likelihood of customer retention heightens.
As stated by Robert Collier, the process involves small, persistent steps. The first step is to gain an understanding of your customer’s problems and needs, and share the customer’s pain points with the entire team. Achieving this step will allow the company as a whole to be aligned with the true needs of each individual customer, and ensure a seamless team decision making process. For the sales team, this requires habitually communicating with customers and staying well-informed of their evolving needs.
Communication will go a long way. Speaking to your customers, listening to them, and taking note of what they say may seem simple, however, when trying to hit quotas with a deadline over your head, customer’s words can go in one ear and out the other. For example, Dollar Shave Club, a retail beauty subscription company, is described to have an obsession with its customers - from delightful packaging to free t-shirts, their focus is making the customer happy. With the company motto being, “we don’t respond to situations, we respond to people,” the root of their strategy is a customer success initiative that lowers attrition and heightens customer engagement.
The sales cycle must be continuous because opportunities for customer evolvement only just begin at the point of sale. When salespeople follow-up and check-in, they can learn many lessons from their ever-changing buyer. They are becoming engrained through the entire customer journey.
Customers need to feel valued in order to remain loyal. Customers feel valued when their promises are kept, their problems are heard, and their productivity is high. The best way to ensure that your customer feels valued is by integrating customer success across all aspects of your business - including your sales team. Some of the best KPIs to measure high performing customer success are rate of adoption, ups-sell rates, and customer referrals.
Improving your Sales
IgnitePost helps sales leaders and customer success leaders build relationships from the beginning of the sales process by doing direct physical mail outreach.
IgnitePost believes that relationships are critical to sales. We create the meaningful connections that enable more sales. We do this by providing the best highly personalized physical outreach services available.
Are you trying to build a stronger network? Do you struggle to maintain long-term customer/client relationships? It may be time to evaluate your strategy and implement new tactics into your game plan going forward. Steve Sims, author of BlueFish, offers tips on how to strengthen your network and reach clients in a more personal way.
When I first started IgnitePost, our goal was simple and concise: to deliver joy to family and loved ones on a consistent basis, hassle free. One of the most pleasant surprises has been seeing the different ways people have used our service. Our product is so versatile and fun.
Over the past couple of months, we’ve seen an influx of companies using IgnitePost in a corporate setting. I wanted to take a quick minute to describe some of the ways businesses are applying our service to drive their companies forward.
When designing a new product or service to bring to the market, it is easy to get caught up with the attributes of the product itself. For example, many businesses focus on creating the most advanced technology and getting first mover advantage. However, to succeed in an industry, a business is not required to have access to the most or best resources. The recipe to success lies elsewhere. IgnitePost believes that relationships are critical to sales. and creates the meaningful connections that enable more sales. It does this by providing the best highly personalized physical outreach services available.
Customer Acquisition Cost (CAC) represents how much it costs to persuade customers to buy your product or service over a specific time period. At IgnitePost, we know decisions are being made on a daily basis in order to lower CAC. Find out how running an IgnitePost campaign can increase your response rate when prospecting new customers and decrease your cost of acquisition.
It's much easier to gain additional business from your existing customers than it is to find brand new clients. IgnitePost’s highly personalized physical outreach marketing campaigns can be a great tool for reaching out to existing customers. Thoughtbot, a web and mobile design and development agency was able to get a 14% response rate by using IgnitePost’s physical outreach campaign.
A software development company wants to be focusing on software development, not necessarily marketing - but of course both are necessary. Many software development companies hire marketing agencies to execute their marketing campaigns so they can focus on what’s most important.
The average software and web app business has an email click through rate of 2.05%. Thoughtbot wanted a tool to help reengage their past customers that would give them a higher engagement rate than the typical cold email outreach campaign, so it decided to use IgnitePost’s highly personalized physical outreach platform to reengage their customers. Thoughtbot saw a 14% response rate to their IgnitePost campaign.
This improvement that IgnitePost’s personalized physical outreach campaign demonstrated led Thoughtbot to the decision to increase the number of their offices using IgnitePost. Get in touch with us, and we’ll show you how IgnitePost can drive value as well as increase your sales without adding anything to your team’s workload.
What kind of marketing strategy has your business been using to grow sales? Has that strategy been working for you? Unless a business or individual has thousands of connections to prospective businesses, one of the most common forms of prospecting is cold outreach.
Most businesses use email and other forms of digital outreach instead of physical outreach since digital outreach is so convenient. There is nothing wrong with sending emails to thousands of prospects, however it can sometimes feel quite meaningless when those emails go unresponded to or unopened. According to the research from Mailchimp, the average click through rate of non-profit companies is 2.57%. This rate is significantly lower than IgnitePost’s physical outreach rate of 12%.
IgnitePost sent out cold physical outreach to top US based non-profit companies. Each physical outreach contained a personalized photo chosen from the organization’s social media accounts as well as a gift card with a short introduction to IgnitePost that included a link for more information where traffic could be tracked. There was a 12% click through rate to the url included in the custom message.
IgnitePost’s prospective clients not only received our direct mail, but they were interested enough in our product that they went to the effort to type out the url to visit our site for more information. The click through rate of IgnitePost’s highly personalized physical outreach was almost 5 times more successful than that of the average cold email outreach campaign.
IgnitePost is the easiest, most convenient, and most effective way to send physical outreach to any client, customer, or prospect. The best part of using IgnitePost is that your team doesn’t take on the workload. IgnitePost does all the work to make things as convenient as possible for you. If IgnitePost sounds right for your business, contact us here for more information.
This day and age, if you don’t include physical outreach as part of your marketing effort, you’re really missing out. That’s not just an opinion… the numbers don’t lie.
According to the Direct Marketing Association, physical mail response rates actually beat digital response rates. Depending on your source, mail has a response rate of up to 10 to 30 times higher than that of email.
Is it really that difficult to imagine though? We’re all inundated each day with a sea of emails. We get so many emails every day / week / month / year, that it’s hard to believe we have any time left over to do anything other than respond to emails!
Why does physical mail outperform email by such a large margin? The answer is simple… perceived value! Physical mail has something that no marketing email can ever possess … it exists! The fact that it’s real and you can touch / interact with a piece of mail gives it an advantage over it’s digital counterpart. According to a study by Royal Mail Market Reach, handling tangible objects remains a deep and intuitive part of the human experience. As such, that emotional effect is what makes physical mail so effective.
So the question is: If physical outreach outperforms email, why don’t more companies do it?
We asked ourselves the same thing! However, it’s not that hard to imagine the reason when we consider the effort involved. It’s much more difficult and time consuming to truly personalize physical mail than it is to personalize an email. We’re not just talking about slapping someone’s name on a mass produced image or creative and calling it a day. Personalization means really understanding each user and selecting creative based on their behavior and preferences in addition to personalizing the copy.
However, just because something is difficult, doesn’t mean it’s impossible. In fact, since it is so difficult, it presents a great opportunity for brands to set themselves apart from competitors.
If physical outreach already outperforms email by 10X to 30X, imagine what that could mean for your business if you could apply the same degree of personalization to physical outreach! Have we piqued your interest enough? What has your experience been with outreach campaigns? Reach out to us and let us help you unlock your unrecognized gains via personalized physical outreach!
Interested in setting up a truly personalized physical mail campaign? At IgnitePost, our service specializes in creating personalized physical outreach campaigns for brands. We handle everything from creative selection to printing, postage, and shipment. Drop us a line here at firstname.lastname@example.org and we’ll show you exactly how we’ve done that for top companies like Athena Health, Northwestern Mutual, Draft, and Crowdly!