How HoneyBook increased monthly revenue by 15% whilst cutting Customer Acquisition Costs

How HoneyBook closed more deals while bringing their Customer Acquisition Cost down

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Disclaimer

We take case studies very seriously so if you have any additional questions or would like to know more about how Amplemarket helped HoneyBook you can reach out to Dane Stevens directly (dane@honeybook.com)

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About HoneyBook

HoneyBook (honeybook.com) is an all-in-one platform and community for creative entrepreneurs. It streamlines the client's experience from inquiry to final invoice, helping them stay on top of their business and delivering a great client experience while saving hundreds of hours. HoneyBook offers a complete solution from booking to management, payment and fraud protection, and also has a mobile app.

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The Challenge

HoneyBook had 4 main challenges with their outbound sales process:

1. Find the contact information of new prospect clients
2. Increase the number of monthly warm leads and scale their sales process
3. Lower the Customer Acquisition Cost (CAC)
4. Compare a software solution with their SDRs performance

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HoneyBook’s target market is small and medium online businesses (SMBs). SMBs are a big but scattered market that is very difficult to do direct sales to. It is particularly hard to find the contact of the decision makers, and get them to reply to your inquiries, so they reached out to Amplemarket for help.

Their CAC was very high, and because of the difficulty in finding the right contact, their sales reps often ended up with worthless leads and were losing too much time prospecting.

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“I recommend Amplemarket. It's a good company to help new teams or teams too busy to do outreach with prospecting for top of funnel growth. Amplemarket helped increase our monthly meeting by more than 20%.”

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The Solution

With Amplemarket, Honeybook was able to reach out to 1,500 decision makers in less than 2 months. Amplemarket helped Honeybook test, optimise and automate their outbound sales process. Amplemarket allowed HoneyBook to take care of all their outbound in a single place from the lead generation process, creating different email campaigns and A/B testing them, different follow-up emails and finally understanding what messages were leading to a higher percentage of interested leads.

“Amplemarket has helped uncover new, high-quality prospects in our target market, and increase our monthly revenue by 15%”

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The Results

With Amplemarket, HoneyBook was able to increase the number of monthly meetings, close more deals while lowering their CAC and outperforming the previous tools the SDRs were using.

In two months a total of 1500 leads were contacted, with the following stats:

• Average open rate of 74%
• Average reply rate of 33%,
• And a 3% conversion rate.

With Amplemarket it was easy to design A/B tests in order to find the best performing subject lines, first touch emails and follow up emails that resulted in more conversions.

On top of that, with Amplemarket Honeybook was able to get a better understanding of their market, including the most common objections to using Honeybook as well as the most common competitors.

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KEY TAKEAWAYS

1. With a simple set up process you can lower your CAC and focus on the interested leads
2. Amplemarket is a relentless sales rep as it allows you to chase every lead without effort
3. Helps you find high quality prospects that were previously unreachable