Paymetric Cuts Overhead Costs Via Marketing Automation Solutions
- Written by Demand Gen Report Team
- Published in DemandGen Reports
The economic downturn caused many BtoB organizations to downsize, creating an even greater challenge to “do more with less.” By leveraging marketing automation technology, Paymetric, Inc., a provider of integrated and secure electronic payment acceptance solutions, doubled its running campaigns by tightly integrating marketing automation and CRM tools.
With less than five salespeople, Paymetric was challenged to re-energize its marketing efforts to extend campaign development and better analyze prospect behavior. Migrating from an automation system that was not cost efficient for its business model, Paymetric tapped Pardot in October 2009 to implement its automation features, including email marketing, nurturing, scoring and social media tools.
Paymetric was incurring greater outsourcing costs, as the previous automation solution required knowledge of HTML to run the program, as well as a dedicated staff member to manage the system. “Everything was outsourced,” said Jessica Wine, VP of Marketing, Paymetric. “It became important for us to scale once we decreased our marketing team. I needed to free up resources. Our marketing team can’t be spending all their time managing the system — it needs to be easy to understand.”
Challenged to reevaluate its efforts and resources, Paymetric sought out a more efficient way to analyze prospect and visitor data to create highly-relevant nurturing campaigns. The company needed to better address client sales information discrepancies and ultimately make the most of its resources to streamline internal operations.
Taking an interactive approach, Paymetric leverages the Pardot iPhone app and LeadDeck, a desktop application that provides real-time alerts on visitors and prospects, to transform their campaign development, triple their marketing generated contribution to the pipeline and save over $30,000 a year in overhead. Additionally, the company can cut overall annual costs by $50,000 while freeing up 50% of one team member’s time. Wine said this has helped the company better allocate its resources more efficiently.
Paymetric also was able to double the number of campaigns executed in 2010 to nearly 100. Marketing generated opportunities now account for 51% of the pipeline value, while Paymetric can automate and modify nurturing programs in-house. Due to its tight integration with SugarCRM, Paymetric can streamline lead scoring, offering sales greater visibility into prospect behavior, making it easier to spot hot leads. Paymetric can also more efficiently segment its database of more than 40,000 records to clean up its database and market to qualified prospects.