return on marketing investment
rate from lead to purchase
closed deals tied to $6.2M in associated revenue
With more than 30 years of proven experience, SunPower is a global leader in solar innovation and sustainability. Their unique approach emphasizes the seamless integration of advanced SunPower technologies, delivering The Power of One® complete solar solutions and lasting customer value. SunPower® solutions drive electricity cost savings for residential, commercial, and power plant customers. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees around the world.
They had a high prospect drop-off rate throughout the buyer journey and lacked the resources to recycle and nurture cold leads. They turned to Televerde to help find out why.
SunPower engaged Televerde to gain better insight into why some of its hottest prospects cooled off during the sales cycle and how we could work together to put them back on the path to purchase. In the process of doing research, Televerde also learned that web- and event-based leads needed to be educated better on the financial and environmental value of ‘going solar’ to become hot prospects.
Televerde approached SunPower’s challenges by first gathering customer, prospect, and front-line sales research on the biggest objections to purchasing solar panels.
Televerde marketing automation experts then turned their attention to the company’s Eloqua instance and its integration with Salesforce. With support from the SunPower Marketing Ops team, Televerde helped ensure that the most viable prospects were identified and targeted with the most relevant information to assess funnel conversion to closed won deals.
After the technology and the plan of action were determined, Televerde’s content and campaign development teams got to work. With support from SunPower’s subject matter experts and the company’s branding team, Televerde devised two tracks; one for cold prospects that needed the basics and one for those that needed to get unstuck from a purchase objection.
Below is a snapshot of the two prospect tracks and the content that supported them.
The campaign was launched to prove a theory that if we provided content to new and current prospects that responded to likely purchase objections or questions, a higher propensity of these prospects would become SunPower customers. So far, SunPower has been able to prove that theory out. Televerde and SunPower continue to work together to optimize the campaign via testing and performance visibility enhancements. With this campaign to SunPower’s direct prospects, SunPower grew its channel partner base and will also roll this campaign out to their master dealers who sell exclusively SunPower products.
With the help of Televerde on creative and campaign strategy, and Eloqua campaign development support, SunPower generated an astounding 70% click-to-open rate for warm track re-engagement, as well as 30% average unique opens for the cold track campaign. The sales team was thrilled with the education push.
The nurture approach proved successful with a 55% conversion rate from sales appointments to purchase. Overall, SunPower attributed $6.2M of revenue to the nurture activities – a 31x return on their investment. As recognition of the efforts, SunPower was recognized as a Markie Award finalist for Best Email Marketing Campaign.
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