How RingLead Doubled its Sales Demos This Month Without Spending Money on Marketing
The sales environment is in a constant state of change, and it’s no longer enough for sales teams to rely on gut, guesswork or intuition.
You need data-driven insights to get the big wins.
Just take it from Chris Hickey, CEO of RingLead. His company provides quality data and sales intelligence to help businesses grow their revenue.
Last month, RingLead did 250 demos. This month, the company doubled it—and Chris didn’t spend any additional money to get twice the people to sit for demos.
And that’s not all. This year, he’s on track to double his business without spending a dollar on marketing.
Here’s how he uses better data management, enrichment, and a data-driven sales approach to skyrocket demand—and how you can do the same.
Note: If you’re considering switching to Salesforce, check out our new, free guide on how to implement Salesforce.
1) Devise a Plan Around Your Data-Management Best Practices
Does your business have a plan for managing data? And do you know who owns that plan?
To be successful, you first need to have all your (data) ducks in a row.
“The number one thing is to get the plan right, get the outcome right, get the owner, and make sure you have an executive to sponsor you,” says Chris. “It takes an executive to move data best practices through an organization. You must have a mandate that data is part of your DNA.”
The second data-management best practice comes down to keeping your data clean.
Why? Because dirty data can hamper sales and marketing teams. You could have a killer marketing plan, but it won’t ever take off if you don’t hit the target market.
So, how do you know if you have clean data?
“Clean means are there duplicates in your data and are those duplicates causing you compliance issues,” Chris explains.
The takeaway here is that your business needs clean data. You should always have a duplicate prevention strategy in order to start with the very best data.
2) Develop Your Ideal Buyer Persona
One of the most important parts of the sales process is developing your ideal buyer persona. What’s their title, what’s their industry, and what are the problems that your product solves for them?
Knowing your buyer persona will help you better understand your customer, and more importantly, prospective customers). It’s easily the most important part of the data-driven process because it makes it easier for you to provide customized content, messaging and services that cater to the needs and interests of different groups. We’ll touch more on buyer personas in #6.
Chris discovers this using historical data. If he sees success with buyers in a certain role, vertical or title, he maps them to a persona.
And it’s not always easy.
“Think about your data for a second,” he says. “If you go to LinkedIn with 370 million people and look for marketing, how many different titles are there? Thousands. So how do you group those thousands of titles into a persona?”
You develop a hierarchy. Certain titles equal one thing; certain people equal another thing. For example, in your industry ‘Director of Marketing’ and ‘VP of Marketing’ may fall under the same persona. For a different company, VP of Marketing’ and ‘CMO’ may be the correct grouping when marketing directors don’t classify as your ideal persona.
“Modeling out your ideal customer is a data hygiene business. You have to keep your data clean because every time a new title comes in, it has to group to that persona so marketing can start communicating,” Chris says.
3) Embrace Data Enrichment
Once RingLead develops an ideal buyer persona, they can seek out email addresses of people with the same title.
And using their data enrichment tool, they can get the full background info on someone—direct-dial number, LinkedIn profile, etc.—with just an email address.
On some leads, they even know where you were born, where you work, the size of your company and the vertical you work in.
Now, with just an email address, RingLead has everything they need to match this lead with their ideal buyer persona. So when a lead comes in, it gets routed to the right sales rep much more effectively.
And it all comes down to data enrichment.
“We’re growing our business just by enriching, cleaning, appending and routing leads effectively with information that’s critical to the sales cycle,” he says.
4) Drive Traffic to Your Website
With a deep understanding of their target customer and all of the data they need to reach them, RingLead conducts traditional cold outreach—emails, phone calls, and LinkedIn messages.
And they do it hoping to drive people to their website.
Tools such as RingLead and LeadFeeder allow you to monitor your website visitors and based on their IP address, tell you what company is on your site.
If you click on a link in an email, they will know if you specifically came to the site and for how long and what pages you viewed.
“Instead of asking how many website leads we got,” Chris says, “we say Capital One came in today. They’re a billion-dollar company. Or we say Oracle just came through the website, and they’re an amazing technology company.”
Getting people to your website presents a huge opportunity. It doesn’t matter your product or vertical, 99 percent of the world gets leads off a web form on a website. Or, if you’re ahead of the curve, you can use conversational marketing to start conversations with your prospects directly on your site.
The next step is scoring those leads once they’re on your site.
5) Score Leads Based on Website Traffic
RingLead scores leads based on every action they take. And they use their own product to drive demand.
“You can spend all this money on marketing automation, but if your data isn’t clean, they don’t work,” Chris says. “Lead scoring doesn’t work. Social clicks don’t work.”
That’s where RingLead comes in.
They post on social twice a day. When someone clicks on a link, the lead goes straight to the sales rep fully enriched. They don’t have to fill out a form, and the sales rep already knows their direct-dial number and LinkedIn.
So RingLead has effectively eliminated the barrier to entry.
“When we send an email and you click and download it, we know you’re there. When you go to my website and hang out all over the site and never fill out a form, I know you’re there,” Chris says.
When it comes to lead scoring where people are doing outbound calls, the activity goes into a scoring model. The people doing the most activity get called first.
“That’s our best practice,” says Chris. “That’s how we’re scaling, using our own product and our own technology, and not spending money like crazy saying, ‘Let me just buy some keywords and figure this out.’”
6) Use Hyper-Targeted Messaging to Get People on a Demo
Once a lead is engaged and qualified, RingLead uses specifically tailored messaging to get people to sign up for a demo. Sales managers want more, better leads. Salesforce admins want deduplication tools. The marketing team wants to build out models for their buyers.
There’s a secret sauce to all of this: building out detailed personas so that your messaging aligns perfectly with who you’re speaking to.
“You can’t do this without an amazing product, and you have to have some smart marketing people,” says Chris. “The product doesn’t sell anything. It doesn’t do anything. It allows you to do things with people.”
If you look at best practices of other companies, RingLead is a tool that can help get you there.
And it’s effective for big corporations to small businesses to startups. Chris especially enjoys working with small companies.
“They don’t have the money, resources or time,” he says.
So it’s RingLead to the rescue.
Coffman Associates, an accounting firm in Miami, is one company that has used RingLead to grow their business. Their challenge? Getting more accounts.
They didn’t have a big budget or even a database. Their data was essentially a bunch of leads without personas, models or cleanse. They had to clean their dupes, enrich their data and route leads effectively.
In less than two months, they went from a database with a ton of duplicates to completely clean and generating leads with email.
“It’s a journey. Managing data is not easy. It doesn’t happen overnight,” says Chris. “But if you’re not managing your data today, you are absolutely at a competitive disadvantage to everybody else.”
The process used by RingLead is simple in theory but hard to execute. To recap, the process is:
- Make sure you have clean and accurate data
- Use your historical data to build out detailed buyer personas including industry, role, job duties, goals, pain points, etc..
- Use a data-enrichment tool to add additional detail to your personas, and as a way to instantly pull all of the data you need to match someone to a persona with just their email.
- Scrape, buy, or collect emails of people that match your personas and begin conducting cold outreach to get them to your website
- Use a tool to monitor their website activity and score them for each action that they take
- Use information from your personas and their website activity to craft highly targeted messaging that touches on their pain points and makes sitting for a demo of your software a no-brainer.
Chris and his crew at RingLead are doing sales right. They know that when it comes to data, it’s critical to managing it well. If you don’t, it’ll cost you lost time, lost sales and lost opportunities.
And nobody wants that. Instead, take a smarter, data-driven approach. It’ll put you on track for business success. And if you need a little help getting on the right track, we’re always happy to chat with you.