Case Study

TPG Drives Pipeline & New Deals

Situation Overview

CooperVision of The Cooper Companies, Inc., a global medical device company publicly traded on the NYSE (NYSE:COO), developed a suite of revolutionary SaaS products for the eyecare industry under their subsidiary company, Eyecare Prime. Sales were stagnant and focused on non-revenue generating activities, the messaging was not resonating with prospects, and there was no sales development team to build pipeline. Through a C-Level introduction CooperVision engaged The Pipeline Group to reach more prospects, optimize the sales team, and build consistent, predictable annual recurring revenue.

Challenges

Messaging & Prospecting

  • Connecting with Prospects
  • Low responses to email
  • Minimal presence of Ideal Customers in traditional databases
  • Low connect rates
  • Ubiquitous voicemail attack
  • Messaging not clear & concise

Building Pipeline

  • No visibility to activity
  • Low and ineffective activity
  • No training and little guidance
  • Siloed products
  • No sales development team
  • No demand generation

Annual Recurring Revenue

  • Sales team at 30% quota attainment
  • Low ARR and high churn
  • Focused on non-revenue generating activities
  • Low MRR due to discounts and rebates; problematic at renewals

Solutions

Marketing Automation

  • Deployed Marketo and enabled demand generation; created Fuel Lines and routed MQLs to newly rebuilt sales development function from the ground up
  • Created outbound lists based on Account Based Strategy and Ideal Customer Profile (ICP) analysis
  • Deployed Auto Dialing Technology (ADT), LAMP-Closed-loop, and targeted email campaigns

Conversation Guide

  • Created highly intuitive Conversation Guide (CG) for real-time sales conversations
    and increased meeting scheduling capabilities
  • Provided CG for consistent and effective messaging with prospects
  • Optimized Discovery Call (DC) process and re-positioned company as a platform that can scale with any sized business

Sales Training & Enablement

  • Optimized the sales process to provide more effective pipeline and forecast management for greater visibility
  • Training for sales leaders and management and targeted training for Marketing Automation and CRM
  • Enterprise-level sales training on objection-handling and proper CRM tracking

Up-Selling

  • Bundles and multi-year - restructured proposals enabled multi-door, multi-year bundled options which drove higher value deals
  • Sales training and enablement; improved tactics and techniques of the sales team using more pull tactics as opposed to push tactics
  • Increased annual recurring revenue commitments