Increase Your ROI By Mining Campaign Reply Emails
August 8, 2017 10:50:05 AM | By Matt Benati
If you’re familiar with mining your email replies for sales intelligence, you’ve likely already seen many of the benefits, such as:
- Adding new contacts to your database and cleansing existing data
- Identifying sales trigger events and gaining a significant timing advantage over your competitors
- Expanding your reach within target accounts faster and more efficiently than you ever thought possible
- Increasing your sales velocity, growing your pipeline, and closing more deals.
Sounds like a no-brainer, right? The reality is, many organizations are not analyzing their reply emails due to limited resources, the high cost of manually reviewing them, or simply because other tasks are more important. If any of these excuses sound familiar, you’re not alone!
The solution is LeadGnome. It’s incredibly affordable — and you will likely see a return on your investment within the first month, while real clients have realized an ROI of more than 600% after using LeadGnome for just one year!
Here are some of the real results LeadGnome delivers, and how to calculate your own ROI potential if you’re considering adding it to your sales and marketing technology stack.
Email Mining Delivers Real Results, Including An ROI Of More Than 600%
There is a wealth of information buried in the unstructured body of “Out Of Office”, “Left The Company”, and other replies to your email campaigns. Analyzing these replies results in measurable intelligence that can be used to add new contacts and cleanse your database, improve lead quality, increase renewals, identify sales trigger events, grow your pipeline — and ultimately drive more revenue.
Add Net New Contacts – By sending just two campaigns per month, you can add 36% or more net new referral contacts to your customer database. For example, when our client Terminus recently sent an email campaign to their database of 43,000 contacts, LeadGnome was able to analyze 97.9% of the reply emails and mine 651 (or 77.9%) new contacts.
Continually Append & Cleanse Database – In addition to new contacts, your campaign email replies can maintain your database by identifying enhanced information about your leads such as phone number or title. 66% of companies that have “clean” data report a boost in revenue and 25% higher conversions between the inquiry and qualified leads.
Improve Lead Quality – New leads are great, but only if they’re in your target accounts and relevant to current sales opportunities. Mining reply emails is one of the best prospecting sources because the new leads are coming straight from the accounts you’re already engaging. One client, Host Analytics, improved lead quality by 80% by using LeadGnome to discover new contacts in their key accounts.
Identify Sales Trigger Events – When a lead leaves the company, or your user gets promoted to your buyer, these “trigger events” create golden opportunities for your sales team to capitalize on, and when you learn about the change as a result of an email campaign, you could have as much as a 3-6 month timing advantage over competitors. According to CEO and Founder of SHiFT Selling, Craig Elias, you win the deal 74% of time when you’re the first in!
Increase Renewals – For subscription-based companies that depend on renewals, campaign reply emails can keep your contacts up to date and alert you to changes within a department before it’s time to begin renewal discussions. Having the right person and contact information increases renewals and reduces the chance of contracts being delayed or even cancelled.
Grow Pipeline – Mining reply emails for new contacts allows you to expand reach within your target accounts and to up-sell and cross-sell to within those accounts. One client, DoubleDutch, expanded their offerings in 2016 and needed a way to reach key influencers and buyers in departments they hadn’t previously engaged. In just 6 months of mining emails, DoubleDutch grew their early-stage pipeline by approximately $30M.
The Revenue-Driven ROI Of Using LeadGnome
These are some pretty incredible results, but it’s a common question for organizations to wonder what kind of ROI they can expect by adding LeadGnome’s automated reply email mining services to their sales and marketing technology stacks.
Using the input and assumptions from actual LeadGnome customers, we can see the ROI of using an automated reply email mining service.
For a company that has 50,000 leads in their database and that sends 100,000 emails per month (just 2 campaigns!), with an average sales price of $600 and a very modest .50% conversion rate, LeadGnome can add 15,000 new contacts to their database and $45,000 in revenue annually.
When you factor in the annual $5,615 LeadGnome subscription (based on number of responses analyzed per month), the resulting return on investment is 701%!
Your own ROI will vary depending on your organization’s unique inputs of course!
The Cost Of Manual Processing
If you’re currently using staff to monitor and analyze reply emails, you can also calculate your cost-based ROI if you know how much time your employee(s) spend analyzing replies. The example assumption uses a full-time marketing analyst making $60,000 per year and analyzing 2,000 replies per month. By switching to LeadGnome, this company could realize a 1217% ROI.
The challenge with this scenario is two-fold: what if you have more than 2,000 replies per month? And can a human realistically do this job day in and day out efficiently and without error? So the real ROI is actually much higher in this scenario because with an automated solution you are able to mine more replies in less time, eliminate human error, and realize the additional benefit of reassigning that marketing analyst to more productive work.
Using A Reply Email Mining Service Saves You Time And Money
Manually mining thousands of campaign reply emails is tedious and could take several minutes per email by the time you’ve associated the information with the correct account in your CRM.
LeadGnome is an automated solution that scales to meet the needs of any size business. It takes two minutes to set up and there is no new platform to learn and nothing to change with your email campaign process. You realize all the benefits of mining campaign reply emails, growing your database and increasing your revenue, without additional human resources.
Try LeadGnome For FREE
Like what you see? We’re offering a free trial allowing your organization to use LeadGnome completely free — no credit card or IT involvement required. We’re excited to show you the impact mining reply emails has on your bottom line!
Editor’s Note: This post was originally published in October 2016 and has been completely revamped and updated for accuracty and comprehensiveness.