Nasdaq company quadruples incoming leads and drives sales with Silverpop Engage B2B

The Company
EDGAR Online, Inc. (Nasdaq: EDGR) is a leading provider of interactive business and financial data on global companies to financial, corporate and advisory professionals. As a leading developer of XBRL and XML tagged data, EDGAR Online delivers a broad spectrum of data including SEC filings, fundamental data, institutional holdings, insider trades, IPO/SPO registrations, and access to global annual reports and conference call transcripts.

The Challenge
The marketing team at EDGAR Online needed to increase the number of incoming leads and also wanted to take a more proactive approach to demand generation to improve the quality of leads. The marketers had been generating a majority of their leads through the standard "contact us" page on their Web site, but were not getting the desired results. The marketing team hoped to find a single tool that would allow expansion of online demand-generation tactics, engage prospects and deliver improved results without adding additional resources.

Our biggest challenge we faced was just managing the number of leads we were getting on a daily basis. We were doing a good job of generating those leads but we needed to do a better job of qualifying these leads for the sales reps," said Bill Shaughnessy, director of online marketing, EDGAR Online.

The Solution
After reviewing a number of marketing automation solutions, the EDGAR Online team selected the Silverpop Engage B2B solution, previously known as Vtrenz. They were impressed with its ease of use, robust lead-nurturing and lead-generation functions and ability to scale for future growth.

After a six-week implementation, the team began using Engage B2B right away to expand on its current initiatives by promoting white papers, offering newsletters and providing trial offers of EDGAR Online solutions. The team also found Engage B2B to be a great resource in maintaining communication with the company's existing client base.

Because the number and quality of leads was likely to increase, the marketing team implemented Engage B2B's lead-scoring and lead-management processes, defining criteria to better identify highly qualified leads. "We score every single leadthat comes through our online registration, including the title, the company, and even the text field that can be filled out for more information," said Shaughnessey. "As a result, quality of those leads passed over to sales has gone up tremendously. Those that meet the criteria are automatically routed to the appropriate sales division. For those leads that do not meet the criteria, the marketing team leverages Engage B2B's lead-nurturing capabilities. The team is now able to effectively nurture these leads until they are ready to buy. This is done with minimal effort, allowing marketing resources to focus their time effectively and efficiently.

The Results
Since beginning to work with Silverpop Engage B2B, EDGAR Online has significantly expanded its lead generation efforts. As a result, the marketing team has seen more than a 400-percent increase in leads.

"Our sales department is extremely happy with the solution since they now receive only highly qualified leads in a timely manner," said Bill Shaughnessy.

In fact, after implementing lead scoring and routing, EDGAR Online is able to identify five times more qualified leads each month than it did before working with Silverpop Engage B2B. The quality of those leads has resulted in a close rate more than double the industry average.

Download the EDGAR Online PDF on  its 400% increase in leads through lead nurturing and lead scoring