Generating a high volume leads that aren't closing?
So was the client of Janelle Amos. Janelle is the Founder of Elevate Growth and a prominent Demand Generation advisor.
Here's the process she followed to get her clients closed lost ratio down from 48% to 11% in one financial quarter.
Founder @Elevate Growth
Let's jump in 👇🏻
Janelle was brought in as an external consultant to help this B2B SaaS brand.
Before Janelle was involved, the brand was:
The people being acquired were technically in the ICP, but had very low engagement through emails and rarely made it deeper in the funnel.
This was because they had no buying intent or awareness of the brand.
No one knew what problems this product could help solve - so there was no urgency to buy from them.
And any leads the company did get were sent to sales regardless of quality for the sake of checking a box for their MQL goal.
At the time, the sales team within this organisation were following the MEDDIC sales framework - standing for:
Janelle spotted that this wasn’t a problem with the product - but a problem with the targeting.
While looking at customers and use cases, Janelle identified the real opportunity was for the company to do ABM. Their TAM was small and their deal size was large, making them a perfect fit.
Together, they reworked the GTM ICP identifying target accounts and began to switch from a lead gen model to a fully fledged-out ABM model.
At the same time, Janelle partnered with the content agency to help the company reposition itself as a painkiller solution, not just a vitamin.
Janelle then ran an audit of the channels being used to reach prospective buyers, the content being used there - and came to realise that this was where a lot of significant changes could be made to improve.
Before Janelle’s plan was implemented, the brand was doing a lot of:
Janelle reworked the budget to focus on the channels that were strategically aligned with the target audience.
Janelle said:
“All it was doing was fluffing MQLs but we were getting no ROI out of it. None. We could use that money elsewhere to do something better.”
“Their conversion rates from MQL to SQL were at 7% and I wanted to see them get to 20% - so it became all about improving MQL quality.”
This meant going back to the drawing board when it came to understanding the target persona, and reworking the budget into channels where these personas could be reached meaningfully.
For this brand, that meant strategic and targeted account-based and contact-based paid ads, thought leadership emails, monthly thought leadership webinars for awareness, SEO and PR.
In the previous financial quarter before Janelle joined the team, the results looked like this:
After the changes implemented with Janelle in the next financial quarter:
While the number of opportunities dropped from one quarter to the next, the quality of these opportunities was much higher and closed at a much higher rate.
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