Identifying The Most Relevant Leads from a Large Database

Background

Bluereport, a leader in European media intelligence, boasts over 15 years of market experience and a diverse team of more than 70 experts. Founded in 2008 as a startup from ETH Zurich, Bluereport has carved a niche for itself with innovative solutions, boasting a global presence with offices in Zurich, Berlin, and San Francisco. Their journey with Cotide began as they sought to streamline their overfilled and unorganized database of 40,000 contacts to identify the most relevant Marketing Qualified Leads (MQLs).

Denis Nordmann

Denis Nordmann

Founder & CEO

Challenge

Bluereport encountered a formidable obstacle: managing an overwhelming database of 40,000 contacts with no structured overview or priority system. This challenge was compounded by outdated and incorrect data, alongside records that did not align with their Ideal Customer Profile (ICP). The primary task was not only to navigate through this expansive sea of contacts, but also to cleanse and structure it, removing or correcting old and inaccurate information. This painstaking process was essential for paving the way towards a more strategic and focused approach to lead management.

Objective

The objective was crystal clear: to distil this extensive list down to the 1,000 most relevant contacts. These contacts would not only be the most likely to engage, but also the ones sales representatives could prioritize to bolster the pipeline effectively. Beyond mere filtration, Bluereport wished the selected contacts to be enriched with personalized information, thereby facilitating meaningful sales conversations. Achieving this goal while keeping the cost per MQL low was paramount, ensuring that Bluereport's sales & marketing efforts were both efficient and impactful.

Solution

Enter Cotide. Bluereport signed up for Cotide's innovative software to create The Communication Compass, a tool designed for communication departments to self-assess, benchmark against the industry, identify their communication score, and discover optimization potentials and actionable steps. This tool became the cornerstone of Bluereport's strategy to engage their contacts with relevant content, thereby streamlining and automating their lead qualification process.

The dimensions within The Communication Compass:

Results

The results were nothing short of remarkable:

• First Phase:
  From the daunting 40,000 contacts, Cotide's technology refined the list down to 25,000 through an initial round of research and validation.
• Second Phase:
  A subsequent round of research and validation further narrowed the list down to 7,012 contacts.
• Engagement:
  Of these, 2,027 engaged with the Communication Compass, with 204 completing the assessment.
• Outcome:
  The 204 companies that filled out the assessment provided a rich list of leads for Bluereport's sales reps to engage with. Starting conversations from a place of value and assistance facilitated smoother transitions into sales dialogues.

Testimonial

"Thanks to Cotide and their product for effective lead scoring and contact management, we have significantly improved our sales pipeline. Cotide provides an outstanding support for our sales department, full of enthusiasm and efficiency."

Kai Zimmermann & Torsten Saber

Torsten Sabel

Torsten Sabel

COO

Kai Zimmermann

Kai Zimmermann

Chief Commercial Officer

Takeaway

Bluereport's collaboration with Cotide illustrates a pioneering approach to lead qualification and engagement. By leveraging Cotide to create its communication compass, Bluereport not only streamlined and automated its pipeline generation process but also enhanced its sales conversations, starting from a position of insight and help. This case study exemplifies how targeted solutions and innovative tools can transform challenges into opportunities for growth and efficiency in the ever-evolving media intelligence landscape.