Time Study's 4x Annual Recurring Revenue
Jason Katz • November 8, 2022 • Paid Advertising & Digital Marketing, Revenue Operations
* From Healthcare Financial Management Association (“HFMA”) Annual Conference in Orlando, Florida
Early traction
Let’s be honest, at times these words seem like an oxymoron. Visionaries see problems & solutions clearly while established players are generally skeptical of the lesser name and budget until it’s the new industry standard. Faced with this reality, how can startups use marketing to help overcome this special moment in time?
Marketing machine
After exhausting founders’ network and early intros, building independent sales & marketing motions that can scale is the next crucial activity. Positioning. Sales motion. Channel test. Key data flowing to ad platforms and analytics dashboards. A culture of learning, optimization, and growth. This is hard to do. It requires a lot of skills across a lot of disciplines. How can companies execute against all of this quickly?
Take Time Study for example
The challenge
Time Study had tremendous momentum, and wanted to accelerate its mission & growth, taking its SaaS software platform to the next level.
The company was not only building a brand but an entirely new category. Customers love their Time Study software, automating time capture and analysis for practitioners distributed across large hospital systems. So the main focus was customer acquisition, maximizing net new logos and annual recurring revenue (“ARR”) - help hospitals gain mastery over time in a powerful new way.
How would Time Study build out its marketing machine and maximize its results during this critical phase of the company growth while maintaining a strong cost per lead (CPL)?
Growth Marketing Advisor’s (“GMA’s”) approach
GMA methodically built a marketing machine for Time Study.
Sales playbook spanning sales development rep (“SDR”) outreach and early-2-late stage lead management (even some recruiting)
Marketing Strategy spanning audience discovery, creative positioning, channel testing, and marketing campaign calendar
Data & Analytics spanning CRM setup & maintenance, real-time analytics dashboards, conversion signal management (aka letting ad platforms know ads that influenced online & offline conversions)
Culture of learning, optimization, and growth
GMA helped Time Study see explosive growth during this crucial time for the startup.
Results
The results were strong not only for this phase of growth but also continue opening new doors. Time Study results excelled across the entire funnel:
Increase in Annual Recurring Revenue (“ARR”)
Increase in Pipeline Value
Improvement (aka Decrease) in Cost Per Lead (“CPL”)
To learn more about building your brand’s marketing machine, contact us now.
