Video Personalization for arresting leads going to waste
Here’s a story that all business owners will relate to. Your sales team is struggling with new leads. because leads are going to waste. You brainstorm with your team and come up with a solution that will solve your problem of lead generation.
You decide that organising a virtual event would be a great way to generate high-quality leads that will help out your sales team. Your sales team feels that it’s a great idea and agree that this will be a big help in boosting the stagnating number of leads.
You leave no stone unturned to make the event a roaring success. You spend $12,000 on the event, but you know it’s a small price to pay considering the impact it will have if the event is successful. You are extremely excited yet slightly nervous about the event.
Then comes the big day of the virtual event. Thankfully the event turns out to a huge hit and all your expectations are surpassed. You get a list of 20 C-level executives who show genuine interest in your products during the event. You are over the moon with the number of leads generated during the event and take the evening off along with the team to bask in the glory of the successful event.
A few days pass. You enthusiastically ask your sales team about the leads who assure you that they are trying to get in touch with the C-level executives. A few more days pass and again you ask your team about the progress with the leads. You find out that the sales team have not been able to get hold of the majority of the leads and now slowly these leads are getting stone cold.
As a last resort, you turn to marketing automation to nurture these leads and keep them alive. But even after a couple of weeks, the responsiveness is close to zero. Ultimately you realise that the virtual event has turned out to be a huge failure.
When you reflect and look in your back mirror, all those leads resulted from something your sales colleagues wanted so badly.
But this is where you are now:
– Spent 12K on a virtual event
– Received a named list of 80 names and generated 20 leads
– Were excited before the event
– Reap the fruits during the event
– Expect sales to follow up on those leads
– Realize the momentum is gone within a day after the event
– Sales are moving on, and 80% of those leads are left untouched
Much time, effort, money and leads are wasted and they are closer to the trash bin than in the forecast.
So, why did the virtual event fail, any ideas people?
These 7 stats below help us understand why the virtual event failed.
- Sales reps ignore 50% of marketing leads [Source: The B2B Lead]
- 44% of salespeople give up after just one follow-up. [Source: Scripted]
- The average salesperson only makes 2 attempts to reach out to a prospect. [Source: Sirius Decisions]
- 80% of sales require 5 follow-up phone calls after the meeting. [Source: The Marketing Donut]
- Research shows that 35-50% of sales go to the vendor that responds first. [Source: InsideSales.com]
- If you follow up with web leads within 5 minutes, you’re 9 times more likely to convert them. [Source: InsideSales.com]
- 63% of people requesting information on your company today will not purchase for at least three months – and 20% will take more than 12 months to buy. [Source: Marketing Donut]
These stats help us understand why the virtual event we organised failed to give us the required results.
So, what can be done?
Here’s what we can do.
From our Virtual event experience and knowledge of the stats on why leads go to waste it’s clear that the core problem we are facing is “nurturing of leads”.
So, how do we go from SQL to MQL?
We do so by empowering our marketing and sales teams by revamping each and every first touch. in a way that is more comfortable for prospects; short videos to recall your prospect, the rapport was established earlier.
Videos are a powerful way to capture the attention of our prospects. Our customers want to feel special. That’s why when we add details like our lead’s name, company, or photo, into our personalized video we engage and delight our prospective leads.
Statistics on personalized video
Personalised videos are a great way to improve email conversions, cut through the clutter, increase landing page sign-ups and enhance click-through rates, but most importantly it helps us nurture a more personal and intimate relationship with our customers.
Here are some stats and examples that will convince you why personalized videos are the right solution for your business.
- Personalized Videos perform 202% better than Basic calls and e-mails [ Source: New Data]
- Loyola University reported a 49 per cent increase in email open rate, which resulted in 1000 new donors from a single personalised video campaign. Loyola University reported an engagement rate of 34 per cent to a whopping 81 per cent as a result of video personalization in their campaign. [Source: personalized-video-case-study-loyola-university-maryland]
- Act-On, a marketing automation provider, discovered that personalising its videos resulted in more recipients viewing the content. Act-entire On’s personalised video was watched by nearly twice as many people as other videos of comparable length. Viewers also spent 62% more time on Act-campaign On’s landing page than the average.
- Tradeshift, the leading global supplier collaboration platform, saw a 10x increase in click-through rate for its personalised holiday campaign when compared to a similar campaign the previous year that did not feature personalization. As a result, page views increased by 231 per cent and eBook downloads increased by 88 per cent compared to the previous campaign.
- Meanwhile, SalesLoft found that 75% of late-stage prospects who received a personalized video became closed-won deals before the quarter’s end.
Despite spending a lot of time, effort, and money on marketing campaigns, the end result of leads gathered is often wasted and closer to the trash bin than our sales forecast sheet.
The solution is to empower our marketing and sales teams by redesigning every touchpoint. And to accomplish this, we create personalised videos at a scale that can be tracked, traced, and reported on in minute detail.
The expected results of the personalization of videos are astonishing and you are 5x more likely to convert into an SQL or Opportunity.
Read the video prospecting playbook about the best sequences for your marketing and sales teams.
Personalised videos are an excellent way to increase email conversions, cut through the clutter, increase landing page sign-ups, and boost click-through rates, but most importantly, they enable us to cultivate a more personal and intimate relationship with our customers.