|Location :||Michigan, USA|
|Challenge :||Falling marketing metrics and low customer acquisitions due to lack of nuanced data|
|Solution :||Lake B2B’s hyper-segmented, accurate, and customized database|
|Business Industry||Private and Community Colleges||Retirement Communities/Senior Living|
The client was primarily targeting accounts across:
Business Industry: Currently, the USA has over 32.5 million businesses, providing the client with a large enough audience to market their hospitality services to and an opportunity to help companies offer their employees a vibrant work culture.
Private and Community Colleges: With over 900 community colleges and 1600+ private colleges across the US, and millions of students attending every year, this audience niche offered many opportunities for the client to push their personalized dining experiences and special events and promotion services.
Retirement Communities/Senior Living: In total, the US has over 21,000 senior living units. Such a massive niche proved to be a perfect place for the client to market their personalized dining services, along with the unique diet solutions tailored specifically for the elderly who need medically modified diets.
|C-Level Executives||Vice President|
Based in Michigan, USA, the client is a leading hospitality management company, offering their clientele sustainable, customized, and innovative dining experiences and hospitality analysis services to foster a sense of community and simplify hospitality management. The client has come a long way from their humble beginning, with a customer portfolio of 70 clients and counting.
Having an already well-defined customer niche, the client sought to expand their operations and on-board clients across new industry verticals, specifically from the business industry, retirement communities, and colleges.
On the product front, the client’s offerings were airtight. Here’s what their catalog looks like:
With that said, effectively targeting an entirely new audience segment is possible only if you have relevant and accurate data at your disposal. Unfortunately, this wasn’t the case. The client’s home-cultivated database was more or less monotonous, with not enough fields for proper segmentation.
This unvaried data rendered all their marketing efforts futile, as there wasn’t enough personalization to address the pain points of every lead and arrest their audience in the awareness stage. Ultimately, their marketing ROIs took a hit.
Given the failure in the first stage itself, the client’s marketing team faced an acute shortage of trickle-down leads, consequently bringing down their sales metrics as well.
The situation was similar for all marketing channels. Where poor email open rates suggested that the emails were reaching entirely wrong leads, low CTOs were proof that they weren’t targeting high enough. All their emails ended up with employees far too low on the corporate rung, with not enough clearance to make a buying decision.
The same goes for their social media campaigns. Their LinkedIn and Facebook campaigns fell flat, and their marketing ROAS was all over the place, as most of the resources they spent didn’t get them anything worthwhile back. All this pointed back to a lack of relevant data.
Fortunately, the client noted the issue and understood that they needed to deliver personalized content and target titles high up the corporate ladder. Not only that, the client wanted their content to be customized as per the buying stage, industry, and marketing channel. For this, they’d require demographic, firmographic, and intent data.
After running a thorough check and marketing analysis, Lake B2B’s experts concluded that a lack of relevant data and tailored content was hampering the client’s marketing efforts.
With the core of the problem exposed, experts at Lake B2B quickly got to work. A two-step strategy was devised. The first was finding HNIs and top-level executives (C-Suite, VP, Director & Manager) for precision-targeting. The second was to customize and segment the data to facilitate personalized content creation.
With that in mind, Lake B2B kick-started a hunt for top B2B executives to draw up a hyper-targeted and relevant prospect list, ensuring that the target accounts have a 1000+ employee size. For this, our experts conducted meticulous market research across the nursing home, business, and college industry. Data was collated eclectically, including sources like business fairs, college fairs, company websites, etc.
Moreover, it was made sure that the data was relevant geographically as well. To that end, Lake B2B’s experts studied the client’s existing target audience and uncovered uncharted territories based on their years of experience in the industry.
Using these methodologies, our experts accumulated a total of 52,000 decision-maker contacts, spread across 8,000 companies and key US states like:
On top of providing business and demographic-related information, Lake B2B also acquired key intent data on hot leads to help the client track lead’s movement in the buyer’s journey and shell out relevant content accordingly.
Lake B2B also helped their sales team stitch together a bigger picture of their best accounts available for acquisition. Therefore, instead of blindly targeting, the client now had accurate information of the prospects most likely to show interest in their services.
Plus, Lake B2B’s data experts helped them understand the complete spread of the buyer teams from SMEs to influences and decision-makers across a diverse roster of roles, verticals, and locations. By the end, the client’s account-based sales team could pinpoint the right leads to connect with at the right stage of their buying journey.
Lastly, as a cherry on top, Lake B2B also offered annual data maintenance entirely free of cost to help the client maintain their marketing consistency.
Within the first few weeks, the client witnessed a spurt in the email and social media marketing metrics. The open rates had an upswing of over 50%, with the CTOs and the CTAs following suit. Moreover, with hyper-targeted contact information regarding key decision-makers, the client was able to move the prospects past the awareness stage and schedule in-person pitches and product demonstrations.
The sales funnel quickly began to bulge from an onslaught of incoming leads, finally bringing the ROAs in the positive. With our segmented data, the client was also able to curate personalized, customer-centric landing pages on their website.
“Insights from Lake B2B’s experts helped us identify the glaring inconsistencies in our home-cultivated database. With the verified information they provided, we could target our audience effectively and discover new niches that we never knew existed. Plus, with many new data fields available to us, we could now shell out content more consistently and in line with our customer’s needs and expectations. Thanks to Lake B2B, we were able to bring our ROIs, ROAs, and many other metrics up, acquire new customers, and offer them a dining experience like no other.”
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