One of the challenges start-up companies face is convincing outside investors to take a chance on them. Without a history of strong sales or a long list of satisfied customers, most start-ups must rely on market statistics that show there is a need for their product or service. But many financiers want stronger data.
That’s why PolicyStat was excited to embark on an interesting project with LeadJen, a B2B lead generation company. PolicyStat is a software company that enables hospitals and healthcare organizations to manage their policies and procedures. The company had secured its first customer, a hospital in Indiana. Funded by seed money contributed by the company founders, PolicyStat enlisted LeadJen to “test the waters” by calling other hospitals in Indiana to determine if there was a need for this type of solution.
MAKING EVERY CALL COUNT
Following the success of that project, PolicyStat hired LeadJen as a lead generation partner. It was a strategic decision to outsource appointment setting so sales reps can focus on making the sale, according to Steve Ehrlich, president of PolicyStat.
The strategy is working.
LeadJen started by cleaning and improving the lists that PolicyStat provided. Messages and scripted calls were developed and then refined based on information gathered during the calls.
LeadJen used a proven process that converts a higher proportion of conversations to appointments, and delivers insight that provides boardroom ready knowledge about the marketplace and performance of campaigns.
LeadJen initially targeted Indiana healthcare organizations but has since done market research to help the company expand into other states.
APPOINTMENTS FOR NEW BUSINESS
Rob Vaughan, vice president of business development at PolicyStat, estimates that 90-95 percent of PolicyStat’s new business started as a LeadJen appointment.
To reach that success, LeadJen made about 25,000 touches over three years. About 7.5 percent of the leads that LeadJen has spoken with converted to appointments, and roughly 10 percent of leads then converted to opportunities, defined as a prospect that will likely buy within a year or two. Interestingly, 34 percent of appointments have come from an in-bound response to voicemail, much higher than average, which shows that messaging is on target.
LeadJen added more than 1,100 contacts to the database through referrals. The company also discovered that while the highest number of appointments are set with the first contact, the highest conversion rate happens starting at call four and improving beyond call eight, proving that persistence pays off in healthcare.
“LeadJen brings a disciplined and methodical approach to lead generation,” said Vaughan.