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Modulo increases sales velocity by 37%
Influencing Purchase Decisions and Accelerating a Long, Complex Sales Cycle
Modulo is the leading global provider of governance, risk, and compliance solutions for the next generation security professional. Over 1,000 customers globally leverage Modulo’s software to better manage technology risk, compliance, and policy requirements, monitor critical assets, and ensure good governance and business continuity.
Modulo needed to influence purchase decisions throughout a long, complex sales cycle. This was especially difficult because Modulo’s target buyer – the digitally native security professional – is over-hunted in this competitive landscape. The result was low open rates in traditional email marketing campaigns and a high cost of acquiring leads. General retargeting had been tried a few times, but the lack of insight on impact did not justify the ongoing spend for a shotgun approach to brand advertising.
Modulo targets their best leads with evolving personalized display ads
With Pipeline360, Modulo orchestrated a display advertising campaign that used lead scoring, personalization, and nurturing to identify the best prospects on its website and tell the most compelling story to each lead over time.
The website was segmented into different tracks. Three-to-five ads would play on each track and would dynamically change based on a visitor’s onsite behaviors at modulo.com. For instance, visitors navigating to certain assets aimed at the retail industry would receive one set of ads versus other visitors who attended a webinar regarding eCommerce Security.
Modulo optimizes ads using website behaviors and CRM data
Using CRM merge tags, such as {{Company_Name}} in Pipeline360 ad templates allowed Modulo to personalize its display ads for each prospect, much as it does with email marketing in its marketing automation software.
Modulo also used evolving Ad Tracks, changing the queue of display ads based on the lead’s stage in the CRM.
“Mirroring our email and website marketing with personalized display ads was an effective way to increase the velocity of our sales cycle.”
Portia Mills
Director of Marketing,
Modulo
Modulo Accelerates Sales-Velocity and Lifts Visitor-to-Win Conversion Rate
With Pipeline360’s closed-loop attribution system, Modulo got accurate results by measuring performance using Pipeline360’s post-view conversion reporting, which shows the impact of display ads even if prospects did not click on the ads. To create a valid testing framework, Pipeline360 campaign services created two cohorts of qualified visitors – Cohort A was served digital ads while Cohort B was not exposed to advertising.
Over a 160-day period, Modulo measured significant increases throughout its sales funnel, including a 19% increase in the visitor-to-win conversion rate and a 12% increase in conversion rates for “top-of-funnel” to “bottom-of-funnel” CRM lead statuses. Modulo was also interested in determining sales velocity impact, measured as number of leads x win rate (%) x average deal size / average sales cycle. Here, Pipeline360 delivered a 37% increase in sales velocity by increasing the number of leads and the average deal size for the cohort of people who were exposed to Pipeline360 ads.
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increase in conversion rates for “top of funnel” to “bottom of funnel” CRM lead statuses
