Unlocking the Power of Precision: LexisNexis’ Innovative Approach to B2B Marketing with Terminus
Rob Willingham is the Sr. Manager of Strategic Marketing at LexisNexis focused on the marketing strategy, implementation, and operations for the mid-sized law firm business segment.
LexisNexis and ABM
LexisNexis is a global powerhouse in the world of legal, regulatory, and business information and analytics. With numerous product and service offerings, employing ABM (Account-Based Marketing) allows them to craft specialized multi-channel marketing touchpoints that target key accounts. This aids their clients in harnessing the full potential of LexisNexis products and solutions. By implementing ABM strategies, they ensure a tight-knit alignment with their sales team, focusing on key business objectives such as penetrating new accounts and facilitating upsells, cross-sells, and renewals.
How LexisNexis Assessed the Impact of Terminus on Pipeline Growth
Rob and his team at LexisNexis recognized the need to quantify the impact of their advertising efforts. The central challenge? Demonstrating a positive ROI and understanding the real value of advertising influence, especially in the realm of ABM.
To address this, LexisNexis crafted a focused strategy:
- Target Audience Segmentation: Starting with a broad audience of approximately 3,700 US-based small law firms, LexisNexis refined their target list, leveraging ideal customer attributes and engagement data, ultimately narrowing it down to 2,500 firms.
- Controlled Testing: Implementing a 50-50 split test, the 2,500 firms were divided into two groups. One received targeted ads via Terminus (test group), and the other didn’t (control group). This experiment ran for 12 weeks, with both groups receiving direct mail packages at the six-week mark.
The objective was to assess the influence of Terminus-driven display advertising in conjunction with direct mail outreach, and more importantly, to understand the sequential impact of these marketing touchpoints.
Results of the Experiment
The findings were eye-opening to Rob and his team:
- Immediate Impact: Even before the direct mail gifts were delivered, the test group exposed to Terminus ads experienced an 18% surge in opportunities created compared to the control group. This underscores the power of precision targeting and personalized messaging in driving engagement.
- Sustained Influence: Post the gift delivery, the test group continued its superior performance, registering a 6% rise in opportunities over the control group. Cumulatively, the 12-week campaign, which layered Terminus’ account-based advertising over direct mail outreach, led to an 11% uptick in opportunities.
The key to this success wasn’t just the advertising but the holistic approach. LexisNexis meticulously aligned their messaging with a specific product launch and ensured that the sales team was in sync, promptly engaging and following up on generated leads.
Conclusion
The controlled approach adopted by LexisNexis offers invaluable insights into the power of targeted advertising, especially when coupled with other marketing strategies. In an era where personalization is king, the LexisNexis-Terminus collaboration showcases the future of B2B marketing – one that’s data-driven, targeted, and exceptionally effective.
Read the full case study from LexisNexis.
