It’s a universal truth in sales that it’s 80% easier to sell to an existing customer than acquire a new one. For CRM provider Pipedrive, that meant stepping up their account management game. Using Vidyard, Pipedrive’s specialized growth team, embedded within its customer success organization, has focused its attention on growing Pipedrive’s footprint within existing accounts.
When a company is young and growing fast, the focus is always on landing those first few customers. Since 2010, Pipedrive has done just that, building up an enviable customer list of 100,000 companies located in 175 countries worldwide.
But acquiring new customers is challenging and expensive. Pipedrive realized it wasn’t investing enough in its existing customer relationships and not extracting enough value from those accounts. As a result, customer churn was high, not decreasing, and the company was leaving business on the table.
Explains Luiza Salomao, Pipedrive’s Customer Success Operations Manager, “Our sales team was focused on new customer acquisition. Our customer success team worked with paying customers but focused on only the highest value accounts. We realized we were losing out on new business opportunities with those smaller existing customers. Of course, the customers were in touch with our support organization, but that part of the business isn’t sales oriented.”
To capitalize on the opportunity, Pipedrive formed a growth team within its customer success organization mandated to focus on expanding business within existing accounts.
But the growth team’s traditional outreach methods were not driving the results the company had hoped for. Says Luiza, “Customers were unresponsive. They weren’t reading the content we were sending in emails.”
The team had to think of different ways to get customers’ attention to stand out. Luiza adds, “We tried different email titles and engaging with customers using other channels, like in-app. Our team even started trying to use Zoom to deliver their messages to get them to engage. Then we realized, hey, why don’t we use a proper tool to record those video messages?”
Pipedrive’s Senior Product Marketing Manager James Campbell used Vidyard to create and host video-based marketing content for the company. With Vidyard, he easily maintains Pipedrive’s library of educational video content across multiple distribution channels, shares branded video assets with partners, and captures customer experience indicators via the viewer engagement, retention, and action metrics available with Vidyard’s analytics tools. James also loves Vidyard’s ability to create human-generated caption files to adapt materials for critical market languages and uses its SEO metatags to improve video discoverability on Pipedrive’s website.
James happened to have a few extra seats available for Luiza and the growth team to try. And Vidyard provided some training to make the growth team comfortable.
Stacey Clarke, a Customer Success Specialist with the Pipedrive Growth team, was one of the reps who jumped into using Vidyard with both feet. She quickly achieved success.
“We were in the middle of the pandemic, and our team was looking to take customer engagement one step further. Everyone was sending emails. Customer inboxes were full, and our message wasn’t standing out,” explains Stacey. “When James gave me a Vidyard license to try, I immediately started creating different videos aimed at different customer touchpoints. Over a three-day sequence, I’d send a different video trying out different tones and content. In one, I’d let them know I had information to share. Next, I’d work up some sympathy because they were ignoring my emails. Then, in another, I’d strike an optimistic, hopeful tone. And it worked! I could time it from when I sent the video email to when they would view the video to when they would book a call with me. Compared to my colleagues who were sending straight text emails, I got 35-40% more responses.”
One of Stacey’s conversations was with a customer at risk of churning. They admitted to her that they were investigating other software solutions. However, Stacey’s personalized video, expressing her commitment to the customer and offering links to helpful resources, convinced them to stay with Pipedrive.
All eyes began to turn to Stacey and her success. Demand for Vidyard grew within the Growth team, and Bruna Luniere, Pipedrive’s Team Manager, Customer Success, soon found herself out of licenses. “After three or four months, most of the team were using Vidyard. We became more comfortable in front of the camera. The videos were smoother, and team members got good at presenting the value they could bring in a 30-second video snapshot,” says Bruna. “It’s just been a consistent improvement.”
Pipedrive’s Stacey Clarke uses video messages in sales sequences to make connections and keep deals moving forward. When customers aren’t responding to text-based emails, Stacey showcases humor and personality (and even garners a little sympathy).
Since using Vidyard, Pipedrive’s Growth team has experienced a 2x increase in upsell monthly recurring revenue (MRR). Reps using personalized video to engage with accounts enjoy a 62% higher engagement rate and a 25% higher close rate. Pipedrive now has six different engagement channels with video content associated with each one.
Vidyard is a part of each new team member’s journey. Team members also draw inspiration from each other’s videos, so creativity is booming. While Pipedrive leaves it up to their sales reps on how to use video messages, every team member must have at least one video in their sales toolkit.
Convinced of the online video platform’s value, Pipedrive has signed on to Vidyard for the long term.
Over on the marketing side, James is experimenting with interactive sales lessons and plans to leverage the platform’s API integration to back up the company’s webinars to Vidyard.
For the growth team, it’s about capitalizing on the power of video to capture attention in a crowded market.
Says Bruna, “The main thing is that we want to stand out, and in sales, success breeds success. The simple fact we went from a handful of licenses to Vidyard becoming a requirement in just a few months is telling.”
“Customers are very intrigued by what we’re doing,” says Bruna. “We’ve had quite a few respond to us commenting on how cool the videos are. And they’ve also asked us if they can use Vidyard with Pipedrive. It’s something we’re now considering on the product side of our business.”
Founded in 2010, Pipedrive is the global sales-first CRM and intelligent revenue management platform for small businesses. Today, Pipedrive is used by revenue teams at more than 100,000 companies worldwide. Pipedrive is headquartered in New York and has offices across Europe and the U.S. The company is backed by a majority holder Vista Equity Partners, Bessemer Venture Partners, Insight Partners, Atomico, DTCP, and Rembrandt Venture Partners. Learn more at www.pipedrive.com.