Reaping the rewards of data
A key part of Trend Scout's ethos is to ensure that they only present investment opportunities to investors that are able to comfortably afford to invest and fully understand what they are doing.
Using the HubSpot data generated by using the tools raised a few undiscovered areas, one being that the majority of leads did not fit the key buying persona. Being able to take a closer look at the process shone a light on the fact that they need better qualification at an earlier stage to improve productivity and stop wasted efforts.
The data cemented the fact that the poor fit prospects were making it too deep into the sales process. The sales process needed to be more helpful, educating prospects throughout and ensuring only High Net Worth and Sophisticated Investors were making it through to a final buying decision.
Looking at the template reporting in HubSpot surfaced an immediate need for an overhaul as they weren’t getting opened. Speaking to the team also uncovered that they were time consuming to use in the first place and were being under-utilised with a preference for reverting back to a call. Creating new templates using personalisation tokens and quick ways to tailor them for each person significantly improved their success with an average open rate of 64% and click rate of 16%. What’s more, they were able to see that actually, there was a 4% reply rate, a stat that they could benchmark and use to make incremental improvements.
Ushering in new tactics
Knowing that video is one of the best ways to stand out from the crowd and capture prospect’s attention we introduced Trend Scout to Vidyard’s GoVideo extension. Suddenly their prospects were receiving emails with personalised videos that (literally!) spoke to their needs. Combined with use of HubSpot’s notifications to identify the best time to call prospects based on them just watching a video or clicking an email reduced the time the team were spending on outreach.
Now that we had a clear idea of what wasn’t working in their process, we were able to create sales coaching notes and using the HubSpot tool, a playbook that could help the prospects do their research meeting them halfway instead of going straight for the sale.
Seeing the difference
The team at Trend Scout took to the HubSpot CRM and Sales Tools like a duck to water. Where previously prospects had been progressing through the sales process and falling at the final hurdle. Deals started closing, within a few days of implementing the new sales process and way of working with prospects, they were looking at a 400% uplift in new business. A huge leap forward for a new company that were committed to changing perceptions of the industry.
Using HubSpot to track the buyer's journey has enabled the team to turn their sales process into a cohesive journey for the customer where previously it had been disjointed. Activity levels have always been high but they are now able to focus their efforts on good fit prospects and rapidly qualify out poor prospects.
Using the documents tool to send and report on brochures has driven a deeper understanding of the specific interests of prospects. Adding predictability to the sales pipeline has enabled them to confidently invest more in their growth.
Knowing that we have significantly improved the way leads are handled, we now stand at the forefront of stage 2 for Trend Scout - cranking their marketing engine up to full throttle.
We started to introduce basic landing pages and assets to help the sales team identify the prospect’s needs with an EIS guide and a page to book a meeting making steps to meet them at their point in the buyer’s journey. Now that results are coming from optimisation we can create a marketing strategy that will start serving the volume of inbound leads that they need, comfortable that there is a clear process in place to make the most of them.