Success Story - graphic - Strategy

Optimized marketing efforts – nearly doubled leads while cutting costs

Challenge:
CURRENT MARKETING STRATEGY GENERATING INSUFFICIENT LEADS AND CONVERSIONS TO SUPPORT BUSINESS

A leading foundation repair company that had been in business for three generations was failing to attract and convert enough leads through its marketing efforts.

With more than 300 employees and online marketing expected to support 40% of revenue, the company was only sourcing 25 leads per day. This simply wasn’t sufficient to support an enterprise of this size and provided a very low return on investment.

Actions:
NEW AGENCY, NEW KNOWLEDGE, NEW CRM PLATFORM

While guiding the client through a financial restructuring, Larx was engaged to review, revamp and advance the company’s marketing efforts.

After interviewing the current marketing agency and analyzing the cost-per-lead and customer acquisition costs, Larx discovered that funds were not being used effectively. Larx led the search for a new digital marketing agency that would deliver better results at a lower cost, and through the engagement, provided project management support to onboard and oversee the new agency. As part of this effort Larx facilitated strategy conversations and educated employees on what to look for and how to harness the reported data to drive better results.

Larx also implemented a customer relationship management (CRM) platform and trained staff on the process of tracking new leads, managing follow-ups and creating campaigns to access new markets.

Results:
SALES SIGNIFICANTLY INCREASE, BUDGET DECREASES

Within four months, Larx Advisors transformed the organization’s marketing program by nearly doubling lead generation, increasing application completion rates, growing the average sale amount and reducing marketing spend.

The introduction of new software automated customer communications, streamlined administrative work and enabled better tracking of project revenues and expenses. And the training of staff resulted in more effective and efficient marketing campaigns.

Learn how Larx performed a complete general ledger implementation and integration of new accounting systems in eight weeks for this client.

Highlights

Challenge
An enterprise was failing to attract and convert enough leads through its marketing efforts that were expected to support 40% of new revenue.
actions
  • Located, vetted and onboarded new marketing agency
  • Oversaw performance and reporting of new agency
  • Educated client on how to drive more effective campaigns
  • Implemented, trained staff on a new workflow/CRM tool
results
  • Grew leads 88% from 25 to 47 per day
  • Increased application completion rates from 40% to 56%
  • Boosted average sale amount from $5,500 to $7,500
  • Decreased marketing spend by 30%
  • Improved efficiency and effectiveness of marketing processes
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