Lake B2B Helped This Biological and Industrial Equipment Manufacturer Almost Double Their ROIs with Data Appending and De-Duplication

MROIs Increased by 110%


CTRs were 138% Higher


50% More Appointments Scheduled


Industry :Biological and Industrial Equipment Manufacturing
Location :US
Challenge :

Having a contact database that was full of inaccurate and duplicate contact details of the target audience

Audience Targeting Criteria

Key decision-makers and other influential heads of companies belonging to the following sectors –

AutomotiveTransportation
PharmaceuticalMetallurgy
Jewellery and Watch-makingMedical Device Manufacturing

Know the Key Targets

The target audience are mainly those companies where processes such as freeze etching and ultramicrotomy are a part of day-to-day business operations. As a result, these companies are constantly looking for advanced microscopic technologies such as a Transmission Electron Microscope (TEM) and other equipment needed for sample preparations.

Data Appending Solutions Sought by the Client

Appending leads’ job titles to be exact and proper. For instance – from simply ‘Researcher’ to ‘Researcher in Molecular Diagnostics.’ Also, the appended job titles should not exceed 40 characters.

MEET THE CLIENT AND KNOW THE CHALLENGES

The client company is a world leader in innovating and developing microscopes and scientific instruments. The company is a next-gen family business, whose unparalleled innovation has made it a global enterprise. From preparing samples to testing, measuring, and analyzing the microscopic structures, the company’s expert team is able to design a tailor-made solution for their customers based on the industry and unique needs. The client’s portfolio of products include –

  • Stereo microscopes and macroscopes
  • Microscope cameras
  • Digital microscopes
  • Light microscopes
  • Microscope software
  • EM sample preparation products

The client’s sales and marketing teams were looking to target key decision-makers and those in influential positions who could purchase their products across industries. This would include –

  • Automotive and transportation industry
  • Pharmaceutical industry
  • Metallurgy industry
  • Jewellery and Watch-Making Industry
  • Medical Device Manufacturing Industry

Naturally, Account-Based Marketing was chosen as the strategy across different marketing channels, email, tele-calling, and social media being the most important. To this end, the client’s internal teams collated a contact database of the most high-value accounts based on the industry. The campaign results were good; so were the client’s data hygiene practices. Every two months, the database was appended with new leads and their contact details. And here’s where the problem occurred.

To the company CMO’s disappointment, the sales reps ended up contacting the same account multiple number of times. Since a lot of reps were working on the same account for extended periods, it turned out that campaign results were unreliable. No wonder marketing ROIs were not as expected. This led to poor customer experience and high churn rates. Whereas email deliverability was always at least 95%, the CTRs told a whole different story, hanging at a low 1.5%.

Plus, the low ad clicks and poor engagement rates on social media pointed towards another problem – the database included generic title heads that made it very difficult to carry out precision targeting campaigns. For instance – The marketing messaging used for targeting researchers in a molecular diagnostics lab (biopharma company) would need to differ from that used for targeting researchers working for a medical device manufacturing company, even though both run ultramicrotomy for their studies. Since no exact and proper job title field was covered in the client’s existing database, their marketing messages fell short in terms of hyper-personalization. This could explain the low click-through rates and ad clicks. The worst part was that this was the case despite owning intent-based data, which meant, loss of valuable time and perhaps even competitive edge.

The client company’s CMO stated, “Here we were, planning to finally land at a place where we could shorten our sales cycles, especially when it came to marketing to the pharmaceutical industry, but instead, landed in a fix. It was all a huge mess and the chaos was going out of hand. That’s when I knew; it’s time to ask for expert assistance.”

MAKING DATA A STRENGTH AND ASSET WITH LAKE B2B’S LEAD-GEN OUTSOURCING TEAMS

This is the time when the client approached the expert lead-gen team of Lake B2B. For this particular client’s concerns, no extensive market research was needed to identify the loopholes. It was clear that campaign deployment suffered due to lack of a cohesive database that facilitated precise multi-channel marketing.

Data appending followed by thorough de-duplication were chosen as the two relevant solutions. Lake B2B’s data experts immediately got to work. First, the client’s existing database was appended based on special criteria – exact and proper job titles no more than 40 characters. So, the final database was fit for targeting –

  • Researchers in Molecular Diagnostics Lab
  • Researchers in Medical Device Manufacturing Company
  • Automotive Inspectors
  • Chief R&D Officer in Automotive Company
  • Chief R&D Officer in Metallurgy Company
  • Researchers in Metallurgical Failure Analysis
  • Quality Control Officer for Watch Manufacturer
  • Quality Control Officer for Jewellery Manufacturer

And so on. Once the job title appending was done, a thorough de-duplication was carried out to remove all duplicate contacts and their details. The data experts did not merely flag the duplicate accounts but fixed them. This instantly helped with lead scoring, lead routing, and attrition given the client’s huge client base (thousands of records). The record information was automatically merged to give the final results within two days.

Pilot programs were then run based on the appended and de-duped contact database. The client sent out exclusive event invites via email to those in the consideration stage of the sales funnel. Accordingly, relevant blog posts and other short-form content such as infographics were used to target audiences just starting to seek for solutions to their problems. Social media ads and tele-calls were also used for lead generation and nurturing

Results
THE RESULTS

Based on the appended and de-duped contact database, pilot programs were run. The results were staggering – the email CTRs improved by nearly 138% whereas campaign response rates across channels improved by 117%.
The client was able to reach the relevant target audience within the pre-decided time and made steady ROIs in record time. Not only that; the sales cycles shortened by 32%, which is better than the average good in the client’s industry.

The company’s CEO thanked the data experts of Lake B2B, stating, “We may have owned intent-based data but it was Lake B2B that made it possible to run precision-targeted campaigns across different channels. Kudos to the team for their prompt response; keep up the good work!”

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