For a technology client, the implementation of a new lead generation engine presented numerous challenges that impacted conversion rates and created inefficiencies for account executives. The client’s marketing initiatives were the company’s largest source of qualified leads. Despite an increased volume of leads, the client began to notice that conversion rates were on a downward trajectory. At the same time, account executives were self-prospecting leads, which generally spend 1.5 times more than the company’s benchmark. However, these prospected leads converted at a rate of half that of marketing leads.
With limited accountability around lead quality and the absence of shared organizational performance targets, the client sought to increase lead conversion rates from marketing qualified leads (MQLs) and align marketing-sales coverage.
Alexander Group’s marketing audit shed light on the client’s declining conversion rates. Following the implementation of the lead generation engine, the client experienced a 49% increase in its volume of MQLs, but the conversion of S0s increased at a disproportionate rate of 28%. For account executives, there was 62% more time spent prospecting compared to the benchmark, reporting a decrease in the quality of leads.
The client expects that the assessment will enable them to invest in impactful programs and pursuits.
Ultimately, Alexander Group’s assessment identified that for the client to enable growth in challenging economic conditions, it must achieve sales, marketing and BDR resource alignment. This requires a strategic focus on end-to-end enablement and execution.
Alexander Group understands your revenue growth challenges. Since 1985, we’ve served more than 3,000 companies across the globe. This experience gives us not only a highly sophisticated set of best practices to grow revenue—we also have a rich repository of unique industry data that informs all our recommendations. Aligning product, marketing, operations and finance efforts behind a successful sales organization takes insight and hard work. We help the world’s leading organizations build the right revenue vision, transform their organizations and deliver results.
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