Ethix Changed Targeting to Improve Responses from Social Leads
Founded by a small band of entrepreneurs, Ethix is a full-service merchant service provider that offers credit card processing services to businesses all over the U.S. But Ethix is about much more than transactions. In addition to one of the industry’s lowest processing rates, Ethix donates 25% of its gross revenue to the nonprofits that their clients care about.
Brian Thivierge, CTO and Senior Marketing Director of Ethix, was looking for a way to target a unique audience and drive new prospecting calls. He also needed a channel that was personal and engaging enough to start a conversation from scratch. Brian turned to social media, and he decided to try Socedo to scale his targeting.
At first, Brian started using Socedo as a way to find investors. However, he soon realized that refining for his audience with bio keywords was difficult, since investors tend not to talk about themselves as “investors” in their Twitter profiles. He had a low volume of leads in his account, and those he did find were unresponsive to his messages.
Instead of giving up on social completely, he decided to switch his targeting to the nonprofit industry. Since Ethix works with nonprofits for fundraising, as well as a more cost-effective transaction solution, these leads would still be valuable in his pipeline. Better yet, nonprofit professionals tend to Tweet about the nonprofit world and state their job titles explicitly in their profiles.
When it came to criteria, Brian started by mapping out the persona of leads he wanted to see in his bucket of prospects. From there, he used the Socedo Criteria Report to hone in on the keywords bringing him the most relevant leads. He also spent time working with one of Socedo’s Customer Success Managers, Nate Strong.
“It’s refreshing to have someone like Nate who works with us to understand what we’re trying to do,” said Brian.
With his goal to start conversations, Brian also A/B tested his direct messages to find one with the highest response rate. He found that asking a specific question, while still including a link to the Ethix website, has helped increase the quality of responses.
Adapting the Brand Persona
After shifting the focus to nonprofits, Brian noticed from Socedo’s report page that, even though he was finding quality prospects, his followback rate was still low. Like any good marketer, Brian started with the customer and put himself in his audience’s shoes.
He came up with the hypothesis that using their full company name “Ethix Merchant Services” in their profile image might be an unnecessary turn-off for nonprofit professionals. He changed the company’s name in the profile to just “Ethix”—not a bad way to get a nonprofit’s attention!
By replicating the Ethix social persona to match his target lead persona, Brian created an instant connection with his audience.
Simple Fixes, Big Success
Brian’s main goal with Socedo has been to set up prospecting calls for his sales team, directly from the DM responses generated with Socedo. After making his targeting and profile changes, traffic to the website and phone call volume increased by 15-20%.
Brian is able to send 2-3 prospecting calls to sales a week, not bad for a 3-month sales cycle. And, he’s found that socially engaged leads are often the most responsive.
“Socedo leads are warmer than our other channels. They know who you are right off the bat and they want to talk to you when they’re on the phone,” said Brian.
Brian is also testing the profile image itself: changing it from the logo alone to a headshot with a logo, in order to drive an even higher followback rate.
By investing the time to craft a targeted lead gen strategy, Brian has seen tangible results, and he used Socedo’s resources to help make the best decisions. Another company, NextGenJustice, found similar improvements by revamping their DMs. Check out their story here.