Discovering $8.9M in Revenue with Smarter Prospect Lists
One of our customers offers consumer financing through small and medium-sized “merchants”: online and storefront retailers. The customer’s go-to-market strategy includes outbound prospecting, where all prospects get marketing materials and high-priority prospects are assigned a sales person.
Once the customer’s go-to-market team is aware of a prospect, they run it through a prioritization model that scores prospects 1-10 based on how well they fit the ideal customer profile:
• Growing business
• Target industry
• Transaction size between $500 and $10,000
• Revenue between $500,000 and $5 million
Recently the team had been seeing lower sales ROI than expected. As they dug deeper, they realized they’d been prioritizing the wrong leads: their existing lead sources were providing many leads outside their ideal customer profile, wasting their sales team’s time.
The go-to-market team decided to pilot Enigma Discover – customized lists of ideal customers – and compare lead quality.
The team subscribes to Enigma Discover, which gives them a customized monthly prospect list. They specify their ideal customers, and each month, we send them leads within their criteria. The team was pleased with early results and will continue their monthly subscription to find new prospects.
• 60% of leads from Enigma Discover were net new, not seen from any other sources
• Net new leads had 25% conversion rate, which will generate $8.9M in incremental revenue after one year