Thomson Reuters
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The full story
Thomson Reuters was having trouble marketing their desktop stock-market reporting system Eikon. They found that their mailshots were not being interacted with, nor were they being replied to at the rate the company hoped for.
It was clear that there was a breakdown between gaining customer interaction and getting that person into a sales meeting, something that was the ultimate goal for Thomson Reuters.
Change was needed. However, the client realised that they were in a huge organisation with a lot of culturally ingrained behaviour, meaning change was a huge hurdle to overcome, with many of the team reluctant to try new things. They also recognised that there was a tendency in the business to over-engineer and over complicate everything.
Through our sister company, we sat down with the European Head of Marketing and agreed a plan to implement a framework that would generate appointments from lead data.
Determining the target audience for Eikon
The best marketing comes from careful study of your target audience. To begin with, we conducted detailed research on buyer personas, creating campaigns designed to appeal to each different persona.
This was continually tested and refined, even as far as having differing follow-up messaging depending on the customer profile. This was approached with an academic attention to detail and rigorous testing which yielded concrete data.
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The need for KPI reporting
The campaigns were highly successful, which brought the new for reporting on KPIs on appointments generated and sales made.
Following the launch of each campaign, we set up a reporting dashboard to monitor specific opens, clicks and deliverability. This allowed us to segment each campaign by persona and demonstrate empirical improvement, something that went a long way in building trust and faith following our big change in approach.
With the reporting, we were able to demonstrate the campaigns outperforming Thomson Reuters existing campaigns, beating their benchmarks in most cases. As a result of this, our project was extended from 3 months to 6 months, and then 9 months due to its success.
This project has shown businesses like Thomson Reuters that a new approach can not only bring about significant change, but also huge benefits, with over 100,000 emails being sent in the campaign and a significant average open rate.