2x in new Revenue plus 5 Lead gen channels in 6 months

  • Industry | Software Development
  • Company size | 51 - 200
  • Service | Fractional CBDO
  • Headquarters | Ukraine
Pipeline generated
$ 0 Mln
in New Revenue
1 x

About Upplabs

Upplabs develops secure and compliant Fintech, Healthcare, and Real Estate software. For tech businesses eager to be #1 in their niche.

They have 10 solid years of experience on the global market, with more than 1000+ successful deployments of our out-of-box solutions, 150+ deployed projects, and 50+ successful setups of dedicated development team projects behind our back.

Main challenges

Challenge 1: Change the positioning of the Upwork agency

The company grew to 50 people from Upwork and they needed a new positioning to show a higher level of expertise and justify higher rates

Challenge 2: Need for new leads and revenue sources

Upwork was the only acquisition channel and has limitations in revenue growth so Upplabs wanted to find new revenue sources for faster growth

Challenge 3: Increase new revenue

The company wanted to improve the win rate for the sales team. Last 2 quarters Upplabs had an extremely low close rate from leads the sales team received.

Challenge 4: Build strong in-house biz dev department

Acquiring top-tier sales and marketing talent is a challenging feat, especially in an intensely competitive market where skilled professionals are in high demand.

Investing in continuous training and development programs is critical to ensuring that sales and marketing teams remain up to date with industry trends, product knowledge, and effective selling techniques.

In the constantly evolving IT industry, where new technologies and market trends emerge regularly, it’s crucial to be agile and adaptable. Therefore, need to build flexible enough sales and marketing strategies to adapt to these changes quickly and effectively.

The Solution

1. Developed a Go-to-Market Strategy

The core element of successfull lead generation and sales for service IT companies is Go-to-Market Strategy.

  • Crafted ICP and identified target industries

  • Developed Positioning, Value Proposition, and Messaging Strategy

  • Developed Customer Journey Map and Map of Informational Needs

  • Listed all company services, focused on the most promising

  • Implemented Positioning (rewrote website, LinkedIn pages, Upwrok profile)

  • Chose 5 lead generation channels

Core GTM Strategy elements

2. Changed the sales team

I had to replace the hall SDR team and sales teams to change the situation in sales

As we set up ambitious goals and selected 6 lead generation channels, we needed to hire relevant specialists to hit targets in each channel.

In the Sales department, we have changed junior SDRs and sales reps on the more experienced middle SDR team of 2 ppl, a Data researcher and 1 middle Sales Rep

3. Launched lead generation programs

After auditing the biz dev team, we decided to make serious changes to the team structure. As our focus was on an increasing amount of New Revenue, we needed to find new ways of generating relevant leads according to the new ICP

Registered in the Pangea community. Started receiving leads from there in the first week. The first won deal was within 3 months. Every project we negotiated was a minimum for the team of 3 and 3-6 month minimum engagement. Around 5 MQL per month.

Re-launched Upwork with higher rates. Changed profile, niched down with keywords to bid, changed cover letters, and made more bids. Increased our reply rate from 3% to 8%. Around 3 MQL per month.

Launched SEO. Made competitor analysis, identified, keyword gap, and linkbuiling strategy, created a content strategy, and started to get inbound leads. We had 5 MQLs per month.

Implemented multichannel outreach. As we had segmented ICP, we focused on Tier 2 customers (middle level of size and contracts). Identified best sub-industries and TAM, and built account lists, based on triggers. Enriched contacts with emails, and verified them.
Added personalization and launched 2000 prospects per month. We got around 5 MQLs per month from this channel.

Build a network of Partners. Bigger software development companies from Europe and Israel were bringing us new deals constantly. We have closed won a deal within the first month of cooperation with Partners. Around 2 MQLs per month.

4. Optimized business processes

We described all processes in biz dev department, wrote how-to guides, and handover instructions for each role in the department

Business process example

5. Pre-sale, and Sales process improvement

After completing the ICP (Ideal Customer Profile), we identified the Buying Committee and created a segmentation model for leads and customers. This enabled our sales team to know what kind of lead call was scheduled in advance.

We also developed a sales playbook that consisted of main objections, call takers, presentations, and proposal templates.

To increase the domain expertise of our sales reps, they received technology and service training from the delivery team.

To manage our pipeline effectively and efficiently, we created three different pipelines in our CRM based on different services to sell and sizes of target accounts.

Key Results and Business Value

in New Revenue growth
1 x
MQLs per month
0
Pipeline generated
$ 1 Mln
  1. New Revenue. 2x growth of New Revenue in 6 months
  2. Go-to-Market Strategy. Shift from Upwork agency with the lowest rates to the Agency for tech businesses eager to be #1 in their niche
  3. Growth. 5 Revenue sources and predictable pipeline.
  4. Sales. 74% increased Average Deal Size
  5. Lead generation. Reached Appointment target of 20 MQLs per month

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