Inside Track, the property investment business has a three stage sales model.

Recruitment > Free Workshop > Paid Seminar > Paid Membership

The company was acutely aware of the volume of new business required to drive revenue throughout its sales model. However being a three stage process the propensity for drop out was high. Inside Track knew that an uplift in conversion at each point coupled with the ability to extend its reach would have a dramatic effect on the business.

Our approach

As with all clients, understanding the numbers is key. We interrogated every part of the model. The recruitment channels, attendance levels at workshops, conversion and costs from workshop to seminar and conversion and costs from seminar to membership. Giving an accurate picture of the sales model.

Using this information we set 6 tasks. The tasks and results are shown below.

Increase workshop attendance from enquiries

Ensuring an enquiry led to attendance at a free workshop event.

1. We planned and implemented a series of communications designed to re-enforce the Inside Track proposition in the period from enquiry to workshop and help respondents anticipate the content of the event.
2. Built and implemented a new approach to confirmation calling helping to create excitement and further anticipation of each workshop.

Result. Attendance levels increased by 11% from 43% to 54%.

Increase conversion from workshop to seminar

We recognised there was little follow up of workshop attendees who did not purchase on the day. We created and initiated a communications plan combining mail and telemarketing to increase overall conversion of workshop attendees.

Result. Working with Nickell we created a new revenue stream which delivered an additional 17 conversions a month, accounting for £110,347.00 additional income per month.

Reduce the cost of direct mail.

DM was and remains the key business driver for Inside Track. However like too many clients the production costs were too high.

Result. By moving the print and production to a Sales Foundation partner Inside Track were able to take advantage of increased service levels and reduced costs delivering a saving of £1,500,000.00 in the first year.

Increase the effectiveness of online as a recruitment channel

Online was being used as a recruitment channel but it was not a priority internally. We recognised that the online market for property investment was growing and Inside Track needed to be at the forefront to take advantage of this opportunity. A new, more effective site was needed as was a commitment to SEO, the implementation of Pay-per-click and affiliate activity.

Result. Online is now the most profitable channel and accounts for almost £4,000,000.00 income each year

Increase the effectiveness of direct mail

We identified that the DM proposition, whilst highly effective was limited by its reach. The property investment story would be attractive to almost all of the UK. A new data strategy was required. We devised and implemented this strategy enabling Inside Track to identify and target groups with a higher propensity to purchase and increase the volumes being channelled into the front end of the sales model.

Result. This new strategy resulted in addition income of over £4,500,000.00 in the first year.

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