Revenues through nurturing programs
Revenues via email prospecting
RingCentral is a leading provider of cloud business phone systems designed for today’s mobile and distributed workforce. For years, the company operated purely on an e-commerce, self-service sales model. All customer referrals mechanisms were built in as part of the product, which meant that the only customer contact was through engineering and involved billing and service contract issues. To support the company’s growth, multiple sales channels were developed and marketing outreach initiatives evolved to include email communications, landing pages, webinars, demos, advertising and social media. However, while the marketing outreach was forging ahead, the marketing and sales teams lacked the ability to reach, engage and create meaningful dialogues with prospective customers as well as with the existing client base. The problem was exacerbated due to the massive business customer base of over 280,000 companies and thousands of leads. Armed with only a mix of homegrown marketing tools, the company recognized the need to find a comprehensive marketing automation solution.
With limited marketing resources, RingCentral knew the task of reaching out and engaging with their huge customer and lead database was a major undertaking. They needed a solution that could provide scalability without having relying on IT to manage the marketing system. Following an extensive evaluation of several products, RingCentral selected Marketo based on the product’s exceptional ease-of-use, scalability, social integration and robust analytics. Social has also been a core part of the RingCentral’s product and marketing platform. Further, the company realized that traditional marketing methods do not work for everyone. Thus, social integration was a key factor in the decision to select Marketo. Marketo’s B2B social marketing integration leverages sharing behavior, not only increasing the reach and impact of marketing messages, but enabling the company to close more business. For example, Marketo’s unique tracking allows RingCentral to track which social channel a lead came from, nurture the lead, route it to the sales force for follow up, track the result, and integrate the entire process as part of the system.
With Marketo, RingCentral has been able to develop a comprehensive demand generation and sales funnel that captures, educates, and qualifies leads and efficiently advances them through to close. As a result, RingCentral has been able to accelerate the sales process, generate higher revenues, convert more leads to sales, increase upsell opportunities, and improve sales efficiency. These benefits equate to tangible results that include a 12% increase in revenues through nurturing programs, a 42% increase in revenues based on improved email prospecting, and over 2,000 leads converted to sales opportunities using Marketo Sales Insight. RingCentral also launched a Facebook poll on their customers’ views of the 2012 election using Marketo’s social marketing technology. This single campaign resulted in 1,300 survey respondents, 28% sharing the poll socially, and 189,000 social impressions.