Booker.com – Local service commerce platform Booker is an all-in-one local service commerce platform. The company needed to reduce costs related to inbound lead generation.
Half of inbound leads that drove closed deals were generated by paid search, with cold calling accounting for most of the other half. The cost per lead was $50 and the cost per acquisition was $350. About 700 leads were generated each month, and 40% of inbound leads had no attribution.
The challenges were numerous. There was no content team or strategy; no product marketing or user insights; the marketing automation system was in a state of disarray with lead scoring or content by buyer consideration stage, no personas, and no content-by-buyer psychological state context. A 90,000-name list and old inbound-source-originating leads sat dead or dormant in Salesforce, and there was no marketing funnel, no analytics and no process for driving upsell and cross-sell opportunities.
The goal was to turn this around through people, process and technology while maintaining 70% company growth. Booker wanted to reduce customer churn, as well as the cost per lead and acquisition. The monthly lead volume goal was 2,000 per month, and the company wanted to increase sales rep productivity from eight contracts per month to 15.
Via a year-long initiative, a multi-tiered tech approach was created to scale, tune, manage, refine, target and distribute leads; target content by context; and use predictive lead scoring. Technology partners on the initiative included Marketo, Moz, Conductor, SpyFu, Bizible, Uberflip, Datanyze, NetProspex, Radius, Infer, Optimizely, Litmus and Sprout Social.
The efforts paid off. Inbound lead volume up was up 3.5 times compared to the second quarter of 2014, to over 3,000 per month. The inbound lead spend was down 70%, from $70,000/month to $20,000. Inbound leads now drive 100% of closed deals, and cold calling is non-existent. The size of the sales force was reduced by 60%, and churn dropped 50%, reflecting lead quality and predictive lead scoring, strong media/channel-to-leads-to-contracts attribution.
Organic search now drives inbound leads, with a cost per lead of $20 and a cost per acquisition of $190, a reduction of over 60%. In fact, organic now outpaces paid search by 11 to 1. Website traffic is up 175%.