FormulaXR
Client Summary
FormulaXR is a cutting-edge educational platform designed to deliver interactive virtual content and laboratories. By incorporating 3D dynamics, it allows students to dive into complex topics in a hands-on and immersive manner. The platform’s goal is to complement traditional classroom learning, empowering students to expand their knowledge beyond the standard educational environment. While students still gain value from in-person lessons with teachers and physical lab activities, they also have the opportunity to further explore and enrich their studies digitally from the comfort of their homes.
Challenges and Objectives
When we launched our Go-to-Market campaign, they were still developing their product, with their original Ideal Customer Profile (ICP) focusing on Engineering Courses at Brazilian Universities. At this early stage, their objective was to establish partnerships with universities to secure both funding for product development and content for the platform.
The z3leads Solution
ICP Prospecting & Enrichment
To pinpoint our target audience, we utilized a government-issued database of Brazilian universities, enhanced this dataset with information from more than 15 additional sources, and supplemented it with data gathered through website and LinkedIn scraping. We obtained a .csv file from the Ministry of Education via the Brazilian government’s website, which included a comprehensive list of over 200 universities in Brazil
We imported the CSV data into a Clay table for further processing and data enrichment. Utilizing AI-powered formulas, we identified and categorized institutions as either public or private, isolated universities offering engineering programs, and subsequently located the key decision-makers at each institution. Finally, we enriched the table with their contact details, including email addresses and phone numbers
Lead Scoring
Working alongside FormulaXR, we refined multiple Ideal Customer Profiles (ICPs), personas, and messaging strategies. This process led to the creation of a customized lead-scoring model that prioritized specific job titles, LinkedIn keywords, organizational size and revenue, as well as LinkedIn engagement. This approach enabled us to identify and target the most relevant leads, ensuring our outreach efforts were strategic and impactful for individuals who would gain the most value from the FormulaXR platform.
TheOutreach Strategy
We categorized our outreach into various tiers, with Tier 1 prospects identified as the most likely to convert based on metrics like lead scoring, job title, and seniority. With only 114 prospects in this top tier, relying solely on email outreach wouldn't have been so effective. As a result, we leveraged LaGrowthMachine to design a multi-channel outreach strategy, integrating cold calling to ensure maximized engagement. For the larger Tier 2 group, which included 567 contacts, we executed an outreach strategy combining email and LinkedIn, but without cold calls. Meanwhile, for the Tier 3 segment, consisting of 1,345 contacts, we adopted a cold email-only approach with Smarlead, focusing on an “ask for referral” campaign.
The Value-Offer Strategy
The initial value-offer presented in our first email was to provide a five-minute video showcasing the FormulaXR platform. Once the prospect expressed interest, we would share the video with them and enroll them in a nurturing sequence. This sequence included sending additional materials such as video testimonials featuring engineering students using and reviewing the platform, case studies highlighting how other universities successfully implemented the tool, and, ultimately, offering to create a fully virtual version of one of their existing laboratory experiments free of charge—allowing them to evaluate and confirm the product effectiveness.
Results
In just 3 months, the revamped outbound strategy delivered:
- A reply rate of 14% and an overall of 283 replies in both e-mail and LinkedIn campaigns
- 96 qualified leads, converting at 34% from reply to meaningful conversation
- 6 clients closed, each at a USD $ 24k ACV
- USD $ 140k in ARR generated.
