immunology CRO
CASE STUDIES > CNS Contract Research Organization
How Outbound Pharma Boosted Sales for a CNS Drug Development CRO
Leveraging Qualified Lead Generation and Appointment Setting to secure
7 Contracts in 6 months.
The Challenge
A privately-held, full-service CRO specializing in CNS and early-phase drug development (US-based, 89 FTEs, $6-10M in sales) was successful at generating repeat business from existing clients. However, the company sought a more effective way to leverage its customer acquisition processes and tools to nurture additional sales opportunities.
Despite their efforts, they never saw the traction they desired.
The company's executives were unsure whether partnering with Outbound Pharma would be the right investment.
They had been thriving on their own since 2006 and had a four-person sales team dedicated to closing deals. We explained that Outbound Pharma could allow their account executives to focus on what they do best—closing deals.
The Solution
The CRO services industry is highly competitive, and the sales cycle can last 6-12 months. Pharma companies are particularly cautious when dealing with regulated services, as switching vendors involves managing sensitive clinical and regulatory data. After conducting due diligence, Outbound Pharma accepted the challenge.
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The goal of this campaign was to build a stronger pipeline and book high-quality appointments with key pharmaceutical clients, based on criteria discussed during onboarding. Before executing the campaign,
we performed an in-depth quantitative analysis of existing clients to identify patterns. Using these insights, we redefined the ideal customer profile (ICP) and developed a more segmented lead generation strategy, which led to the identification of top-tier segments.
The Results
In the first month, we focused on ramping up the campaign by identifying as many quality leads as possible. This was a time to cleanse the prospect database and refine our messaging. From January to June 2021, our team scheduled 20 introductory calls.
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We adopted the ANUM (Authority, Need, Urgency, and Money) lead qualification framework. Our primary focus was to ensure we spoke with the right decision-makers before addressing other aspects like need, urgency, and budget. By month five, many opportunities were still in the pitching stage, as the timing wasn’t optimal for some prospects or they were under contract with other providers.
When nurturing leads, timing is relevant. Following up too frequently when a decision maker has requested a delay is ineffective and can come across as disrespectful. While follow-up is essential, it’s equally important to understand the right time to re-engage.
In mid-April, we scheduled a video call with a mid-sized pharma company that urgently needed assistance with Clinical Trial Management. By August, they had signed a $250K deal with our client. Additionally, the client secured six more contracts from other companies.
"We are very pleased with the results of the campaign. Your expert team went above and beyond, far surpassing our targets. We're looking forward to working with you again soon!"
Chief Revenue Officer, CNS/Neurology CRO