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How Coface used SoPro campaigns to drive sales without building out internal business development teams

Company profile

Location:

UK and Ireland

Product/Service:

Credit Insurance

Deal cycle:

1-2 years

Target profile

Location:

Global

Company size:

4000+

Role/Function:

Finance Director, Finance Manager, Credit Control Manager

How Coface used Sopro’s expertise to drive new business

Headline results

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£92 cost per lead
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3% lead rate
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13% response rate
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£92 cost per lead 3% lead rate 13% response rate

Company description

Coface offers businesses credit insurance to protect them against trading risks. They support companies globally to make credit decisions that will improve their ability to sell on the domestic and export markets.

Their aim overall is to become the most agile, global trade credit insurance partner in the industry, and they were looking to Sopro to help them grow their business.

Objectives

Coface wanted to increase its lead generation and ROI without exhausting its resources. They needed quality data specific for their potential market. 

“There was a huge amount of work involved in driving lead generation, and we quickly realised that we needed a level of expertise and that’s where Sopro fit in.”

Alan Byrne, Commercial Director for Mid-Market, Coface

Our solution

Sopro provided the high quality, industry-specific data that Coface needed and targeted that market. Sopro used their expertise and personalisation to drive higher lead generation for Coface.

“Initially when I was contacted by the Sopro team, the personalisation led me to believe I was talking to an individual one-on-one.”

Finlay Thomson, Head of Direct Partnerships, Coface

The results

By August 2022, Sopro had assisted Coface in securing almost 400 leads. With over 47,000 emails sent and over 17,000 emails opened, Coface’s Lead Rate rocketed to 3.5% in August this year – above the average of 3.1% across all industries. Sopro enabled Coface’s sales teams to focus on selling, and positively impacted their business growth.

“The ROI from the Sopro campaign has been very, very positive.”

Alan Byrne, Commercial Director for Mid-Market, Coface

Year Month Prospects Emails Sent Emails Per Prospect Opened Opened % Positive Response Leads Lead Rate %
2022 Aug 1001 3297 3.29 1467 44.49 % 20 35 3.50 %
2022 Jul 972 3347 3.44 1171 34.99 % 10 26 2.67 %
2022 Jun 1011 3286 3.25 1328 40.41 % 13 28 2.77 %
2022 May 1029 3564 3.46 1420 39.84 % 9 22 2.14 %
2022 Apr 1000 3724 3.72 1373 36.87 % 15 25 2.50 %
2022 Mar 1479 5651 3.82 2101 37.18 % 22 39 2.64 %
2022 Feb 1474 5683 3.86 1963 34.54 % 16 39 2.65 %
2022 Jan 1805 7610 4.22 2743 36.04 % 19 49 2.71 %
2021 Dec 1512 4248 2.81 1379 32.46 % 8 25 1.65 %
2021 Nov 1508 4892 3.24 1707 34.89 % 26 56 3.71 %
2021 Oct 933 2000 2.14 733 36.65 % 11 26 2.79 %

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