Prior to the Marketo implementation, Rimini Street relied on outdated tools and processes to send email communications, utilized manual processes to prospect via email within target clients, and depended on loosely integrated response measurement tools. Consequently, many potential leads were left untouched and we missed the opportunity to grow our sales pipeline even further as a result. The company clearly needed a way to improve lead generation team efficiency and effectiveness, and better align its marketing and sales efforts to keep up with its growth potential.
Rimini Street implemented Marketo primarily to improve its marketing email marketing campaign effectiveness. After seeing a marked increase in response rates from our email campaigns in just a short time, Rimini Street decided to implement a lead nurturing track to automate daily email prospecting activities and also deployed sales insight and lead scoring. Through Marketo intelligence, Rimini Street was able to re-allocate their time from daily sales force email blasts to more value-added activities including account navigation and follow up callings. The sales team was also finally able to track activities and the progress of their accounts and activities, allowing them to more effectively collaborate with lead generation and marketing. Within a month, Rimini Street saw a significant increase in lead quality due to the increased number of prospects the team was now able to engage.
Rimini Street made great strides in 2008 and 2009 competing against two of the largest software companies in the world, but in January 2010 one of these enterprise software incumbents entered into litigation against Rimini Street in part to attempt to freeze Rimini Street’s growth. The tactic worked – at least initially. Leads dropped off by 32 percent and closed deals by 25% just following the litigation I Q1 2010. But despite a rocky quarter, Rimini Street was able to response in the second quarter and increased leads by 32 percent and increased closed deals by 35%. By the end of the year, Rimini Street had achieved record results in 2010, growing revenue to an all time high with 44% year-over year growth, and finishing 2010 with the largest sales quarter in company history and increasing customer renewals to an all time high at over 95%. Today, Rimini Street continues its fast-paced growth, including delivering more than 120% year-over-year growth in new sales bookings and 94% year-over-year growth in new deals. Additionally, the company also announced that it exceeded 100 percent of its marketing lead generation and pipeline development targets. According to Rimini Street this dramatic turn-around was based in part on Rimini Street’s ability to scale marketing and lead generation efforts through the use of Marketo.