BabelQuest was one of the first UK agencies to proactively explore and execute on the market for sales enablement services. They have since excelled in the space, driving measurable results and providing additional value to their clients.

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Open rate on all marketing emails after introducing HubSpot

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Click through rate on all marketing emails after introducing HubSpot

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Uplift in new business using HubSpot CRM

About TrendScout

London-based TrendScout are specialists in connecting investors with high potential pre-IPO companies that are part of the Enterprise Investment Scheme (EIS), working to bring together high net worth, sophisticated investors and high-potential companies looking for investment.

They first came to BabelQuest as a team of highly experienced consultants inspired to start a new business that did things differently, and needed help targeting potential investors.

Industry:

Financial Services

Location:

London, United Kingdom

The Challenge

Like so many new businesses they had set up a website and were using the HubSpot CRM as part of the growth suite but had limited extra marketing budget until they could prove that such an investment would work.

The problem was, whilst they were generating some leads through their network and partnerships, a significant number of prospects were getting through their sales process but failing to commit at the last moment. They needed to understand why those deals weren’t closing and stop it happening, so that marketing efforts wouldn’t be generating leads that slipped through the net.

In an industry full of options, the team at TrendScout knew that the way people buy has changed. To succeed with their ambitious business goals they had to fully understand their prospect's needs and help them to make informed decisions about investment.

Using our experience of helping businesses to optimise their sales process and understand their buyers, we knew this problem wasn’t insurmountable.

Getting to the root of the issue

The first step was understanding the real root of this problem with closing deals, so that we could work with TrendScout to optimise that process.

We ran a full day workshop, but knowing that the true insight would come from using the rich data from HubSpot effectively, we split this into two parts - a deep-dive look at how they were currently doing things and then a practical session to start surfacing some of the data that would help us take a closer look.

Building out a deal pipeline with the stages of their current sales process helped to identify the point at which prospects fell away. We also trained the team on the Sales Professional tools so that they could start harnessing the power of templates, sequences and call recording.

The investigation continued after that initial workshop as the optimisation of HubSpot helped us to analyse what the sales team were doing day-to-day. Recording outbound sales calls and cross-analysing between those that succeeded and failed helped to identify areas for improvement, whilst moving existing sales emails to templates and sequences would show email performance and whether that was corresponding with a progressing sales pipeline.

We knew that the best way we could really help would be to really get our heads into the way TrendScout’s sales team were working. Our solution? We conducted mystery shopper sales calls! Being able to test them and provide actionable feedback that they could review with the recorded call proved invaluable.

Reaping the rewards of data

A key part of TrendScout'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 TrendScout 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.

What next

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.

What the client says

"Joining BabelQuest and using HubSpot was probably one of the best things we could have done for the company - it was the evolution of Trend Scout."

Mo Rassolli, Trend Scout

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