Customer Industry: Software Application- Expense Report Solution. Mobile is a central force in the Age of the Customer. Next year, Forrester expects that more than 25% of companies will use mobile not as a channel, but as a fully integrated part of their overall strategy. However, the travel and the expense-reporting environment is yet to catch the race. According to Forrester, when data backing is considered, 80% of T&E ecosystem rely on manual entry for expense data. Considering mobile to become a catalyst for business transformation and laggards, mobile as a stand-alone channel for expense reporting is all set to widen.
Background: The Customer provides an automated solution for expense report compliance and audit. Customer’s patent-pending data science-based technology automatically create expense reports, provide real-time compliance with regulatory requirements and company policies and automatically audits and assigns a risk score to every expense to detect fraud and misuse.
Case Scenario: With a significant market share in the SME segment, the customer wanted to enter the enterprise segment aggressively.
It was quite easy for the customer to reach out to the SME segment as the decision-making authority rested in the single hands and it was easy to convince them. But the major challenge customer faced was when it tried to follow the same conventional approach to target the enterprise audience. It was not easy, and the turnaround time was too high to establish a single point of contact with a CFO and related designations. The roadblock coming in the way of the customer was also the initial sales pitch, it was the same for the SME and the enterprise customers. The initial pitch made by the customer did not lure the enterprise audience like the way it did for the SME segment.
It was when customer consulted movingDneedle to design its sales lead generation program to generate sales meetings from the decision makers of the enterprise segment.
movingDneedle helps the customer to increase the sales pipeline using Personalized Email Marketing Campaigns
After conducting a detailed market study, understanding the lead qualification parameter and the customer offerings, movingDneedle designed a generic campaign targeting four major industries viz.
Expense Management and Fraud Compliance Campaign, for
- BFSI - Organization with revenue between USD 200 MN – 750 MN o ISV - Organization with revenue more than USD 500 MN and above o Retail - Organization with revenue more than USD 150 MN and above
- Manufacturing- Organization with revenue more than USD 250 MN and above
movingDneedle designed the campaign messaging addressing the actual gaps that the finance and the auditing people in the organization faced. The Major focus was also given on the nature of integration of the system, compliance with IRS, Foreign Corrupt Practices Act (FCPA) as well as the US regulations, profitability and cost reduction metrics and many more. This was a big hit for the customer when the campaigns were executed.
Results Driven by movingDneedle Personalized Email Marketing
- All the campaigns were run on an average of 8 months.
- movingDneedle was able to pump in 85 leads into the customer sales pipeline from all the campaigns over the tenure.
- Sales champ were able to meet with the finance, auditing, accounts and expense management, operations and technology decision makers with a context and also exploring potential avenues how the customer can help its clients in managing the expense reports and assist in the fraud detection techniques.
- Analytics report was shared with the customer based on the campaign responses which helped the customers in moderating the campaigns as per their business development strategies.
- All the queries that resulted during the campaigning were shared with the customer which helped the customer to consult with the prospects in the specific domain.
- The customer was also able to gauge the responses from the market which made it easier for them to upsell and cross-sell their services.
- Forecasting the number of leads for the coming months based on the analytical reports sent by movingDneedle was made easy.
- A healthy sales pipeline during the campaign cycle was developed for the customer sales team.