Atlanta B2B Revenue Influencers Learn How Reply Email Mining Drives Revenue
November 7, 2017 1:35:36 PM | By Matt Benati
Last week, I had the opportunity to speak to a savvy MeetUp group of B2B professionals in Atlanta. The Atlanta B2B Revenue Influencers brings together marketing, sales and operations professionals accountable for influencing and driving revenue for their companies. They meetup on a regular basis to learn about B2B customers, marketing and sales strategies, processes, tools, technologies, best practices and how-tos — and they often invite guest speakers to share knowledge in these areas. So I was thrilled at the prospect of talking email mining and how most B2Bs are sitting on a goldmine of intelligence that they can leverage to drive more revenue.
No surprise, they were intrigued (and maybe a bit skeptical).
Why Email Mining Has Gone From Nice-To-Have To Must-Have
When I talk to marketing and sales professionals about the auto-response emails that are inevitably generated by their email campaigns, it’s not unusual to get mixed responses about how organizations are leveraging the replies. Nearly all agree that they contain valuable database-cleansing information, but the excitement in the room becomes palpable when we start talking about the revenue-generating capabilities of those replies.
It makes people look at an Out-Of-Office (OOO) or Left-The-Company (LTC) reply in a totally new light, and it makes mining reply emails an essential task rather than something done sporadically as resources permit.
Here’s how reply email mining maintains data integrity and generates revenue.Reply email mining maintains data integrity and generates revenue. #Sales #EmailMarketing Click To Tweet
Phase 1: Maintain Data Integrity
Most marketing and sales professionals think about database maintenance when it comes to the information contained in email auto-replies. Since a whopping 70% of B2B records decay annually, it’s inevitable that at some point, you’re sending to the wrong people at the wrong companies. Bad data costs your organization in wasted time and resources and causes your marketing efforts to stagnate and fail. By using LeadGnome to automatically mine reply emails, you can enrich and cleanse up to 72% of existing leads annually just by continuing to to send email marketing campaigns. This allows you to keep in touch with leads and engage them with ongoing nurturing, which ultimately impacts your bottom line.
Phase 2: Generate Revenue
If we take Phase 1 a step further, not only can we mine update information from reply emails, but we can also mine new contacts. Think about the information in OOO and LTC auto-responses. They usually contain alternate contacts, for when your lead is out of the office; and replacement contacts, for when your lead leaves the company. Often called referral contacts, these new leads are already in your target accounts.
Since they’re coming from leads you’re currently nurturing, it’s more likely that these new contacts are also influencers and decision makers themselves. And because these contacts were uncovered in an automated reply, you have implied consent under CASL rules to reach out and start a conversation with them. Since Gartner research has found that B2Bs now need to engage an average of 7 people within an organization to close a deal, expanding your reach within target accounts by adding new contacts is critical for driving revenue and accelerating the sales cycles.Expanding your reach within target accounts by adding new contacts is critical for driving revenue and accelerating the sales cycles. Click To Tweet
Uncover The Power Of Sales Trigger Events
Let’s “kick it up a notch” … Many people are surprised by the power of email mining to uncover direct opportunities for your sales team. Called “trigger events,” these are major changes within your targeted accounts that your sales team can leverage to win more deals. For example: when a lead leaves the company, an LTC auto-reply is typically put into place. When you mine email replies for data and find out about the trigger event right away, you gain a 3-6 month timing advantage over competitors, allowing you to be the first in to win the deal or secure the renewal.
An LTC can even uncover an opportunity previously out of reach. Have you ever had a frustrating person in an account prevent you from earning the organization’s business? Dianna Geairn, co-host of The Sellout Show, points out that if that person leaves, it opens up a golden opportunity for you to speak to their boss, and their replacement. And the faster you learn about the change, the quicker you can get your foot in the door with the new person.
Likewise, if you get a Change-Of-Email auto-response, your first thought (Phase 1) will be to update your database with the new email address. Upon closer examination though, you may realize that it’s a domain change, not a name change, which signals potential merger and acquisition activity at the account. Mining emails allows you to learn about M&A events before your competitors, giving you extra time to research the new organization and reframe your solution to meet their needs.
The sales resulting from trigger events identified through reply email mining, put a real and measurable value on an automated email mining service — and that’s when it really goes from a nice-to-have to a MUST-HAVE sales and marketing solution.
Bonus: Save Money By Staying Compliant With Email Spam Laws
This is more of a revenue-saving than revenue-generating aspect of email mining. Email spam laws like CAN-SPAM in the United States and CASL in Canada can cost a business millions in fines if violated. The laws specify how and when you need to obtain consent, and how and when you are required to provide the ability to opt-out and honor unsubscribe requests. Mining reply emails allows you to identify unsubscribe requests and update your database immediately.
Email Mining Closes The Loop On Email Marketing Data Flow
When reply emails aren’t monitored, the intelligence they contain is basically going straight into the garbage. When you employ reply email mining, the intelligence is identified, extracted, and applied to your CRM (Customer Relationship Management) or MAP (Marketing Automation Platform), closing the loop and turning a previously-untapped data source into revenue-generating opportunities.
Take it a step further and automate the process with LeadGnome’s reply email mining service using advanced Artificial Intelligence (AI). Not only do you save countless hours and resources, but the the sales intelligence mined by LeadGnome triggers workflows in your MAP that apply the data to downstream business processes to automate sales and marketing tasks. In this way, you’re working smarter, not harder, and truly getting the most value out of every single reply email.
Want To Learn More About The Revenue-Generating Capabilities Of Email Mining?
I would love to come speak at your next MarTech meeting or event. Email email@example.com to learn more and schedule your presentation.
Also, our latest eBook, Transformative B2B Demand Generation, features examples of the most common email replies and the type of data that can be mined from each. We highlight the intelligence in each reply and give suggestions for how to best leverage that data to increase sales.