Nextpoint, a pioneer in cloud-based e-Discovery solutions, is a unique player in the LegalTech industry.  Unlike virtually all of its SaaS competitors, Nextpoint proudly bootstrapped 100% of its growth.  Nextpoint’s success has been grounded in a deep understanding of its customers’ needs, a deep product, exceptional service, and sound financial management.

ACHIEVING A STEP-CHANGE INCREASE IN REVENUE FROM A FIXED DEMAND GEN MARKETING BUDGET

By 2020, a seismic shift in the legal tech industry was well underway.  Demand for cloud-based e-Discovery solutions was rising exponentially. Venture capital and private equity firms were investing heavily in LegalTech to capitalize on the growth.

To take advantage of industry tailwinds, Nextpoint needed to expand its digital footprint to generate more demand.

Over the course of a year, Connor Jenkins, Director of Growth Marketing, and his team quadrupled Nextpoint’s spend on demand gen initiatives. Nextpoint invested in data enrichment and buyer intent platforms and deployed a significant percentage of budget towards ABM, paid social, and paid media.

Despite the 4x increase in digital marketing spend, however, Nextpoint was not realizing anywhere close to a 4x increase in ‘High’ intent leads (e.g. Demo request or Contact us forms) that Sales desired.

Connor and his team had successfully generated significantly more digital engagement (e.g. eBook downloads, registrations, page visits), but Sales was largely blind to these events.  This data was captured in Hubspot; Sales operated in Salesforce CRM.  When a prospect met the definition of a Marketing Qualified Lead (MQL), Marketing shared the lead with Sales.  Unfortunately, Sales didn’t buy into the lead scoring logic and therefore largely ignored these leads.

To generate more revenue and realize an ROI on Marketing spend, Connor needed to convince Sales that there was value in these leads.  “We had anecdotal evidence that there was gold to be found in this large volume of leads.  Opportunities that our MQL lead score simply couldn’t communicate effectively.”

According to Connor, “We implemented RevMethods to help separate the signal from the noise and surface insights the Sales team could act on.

A REVENUE ACCELERATION PLATFORM THAT ‘CONNECTS THE DOTS’ FOR SALES AND BETTER ALIGNS SALES AND MARKETING

“We have a clear ICP [Ideal Customer Profile] who we target with relevant content and messages via ABM,” says Connor. These digital engagements are captured in Nextpoint’s Hubspot Marketing instance.

“We also have a trove of historical interactions - previous engagements, sales conversations, etc - in our Salesforce CRM,” says Connor.  “The problem is that neither Hubspot nor Salesforce are designed to unify all this rich information and proactively spoon-feed Sales with context, insights, and recommendations.”

To get started, Connor spent less than five minutes establishing Nextpoint’s dedicated data lake by connecting Nextpoint’s Hubspot and Salesforce APIs to the RevMethods platform.  “We’ve been discussing creating a data lake to unify and analyze our data for well over a year,” says Connor.  “I can’t believe how simple and intuitive it was to get ours up and running with RevMethods.”

It took less than one hour for RevMethods to ingest all the relevant marketing and sales data into Nextpoint’s dedicated data lake.  Once complete, Connor selected the subset of Forms, Web pages, and Lists were worthy of Sales’ attention.  “Not every digital engagement is relevant to Sales,” says Connor.  “But when prospects do engage with certain assets, we not only want to notify Sales but also provide them with any additional context they may need to initiate a sales conversation.”

As prospects engaged with the Nextpoint’s digital assets, RevMethods began surfacing valuable prospect opportunities that Sales would have previously overlooked.  For example:

An eBook download that previously earned the prospect a lead score of 10 points took on new meaning to Sales when RevMethods informed the Sales rep that she had quoted this prospect $25,000 18 months previously.

A Sales rep called on a prospect whose only action was to visit the pricing page.  Once RevMethods informed the Sales rep that this prospect was a current prospect who had stopped communicating two weeks prior, the rep used this event as an opportunity to reengage.

As RevMethods shared the rich context behind many of the intent signals Marketing was capturing, the large volume of leads that Sales previously dismissed quickly became a source of value.  Sales reps monitored the RevMethods Slack channel hourly and used Slack’s collaboration functionality to offer each other advice and celebrate wins.

[insert image of collaboration and emojis]


“A key benefit of RevMethods.” says Connor, “is that it doesn’t require Sales or Marketing to sign into yet another platform.  RevMethods delivers the messages and prescriptive insights via technologies the team is already using in the course of the day.”

A PLATFORM THAT ENABLES A DOUBLE-DIGIT BOOST TO REVENUE FROM THE SAME LEVEL OF INVESTMENT

“The time to value that RevMethods delivered to Nextpoint was tremendous,” says Connor.   In the first 90 days following the launch of RevMethods, Nextpoint increased its sales pipeline by 20% and closed 10% more revenue, all attributable to digital signals that Sales would have otherwise labeled as “low intent.”

Beyond the step change improvement to revenue, however, the Nextpoint team has experienced a profound and positive realignment between the Sales and Marketing teams.  “Relative to other organizations I’ve worked at, Nextpoint had a fairly healthy rapport between Sales and Marketing,” says Connor.  “The introduction of RevMethods, however, elevated the amount of collaboration significantly.  Sales is now highly attuned to the marketing campaigns we implement each week.  They monitor the RevMethods Slack channel religiously, and they communicate questions and share comments with Marketing far more frequently than before.”

An exciting development that Nextpoint is eager to pursue in the months ahead is to invite Client Success to participate in the channel.  “Not surprisingly we see a lot of digital activity from our existing client base,” says Connor.  Client Success has historically been unaware of these activities.  Fueled by the stories RevMethods is providing, we can now act on these signals to upsell, cross-sell, or simply delight customers engaging on a particular topic.”

Case Study

Learn how an early-stage B2B SaaS company generated double-digit growth in 90 days from opportunities they would have otherwise overlooked.

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