Cord Blood Registry (CBR) is dedicated to advancing the clinical application of newborn stem cells by partnering with leading research institutions to establish FDA-regulated clinical trials, requiring CBR processed cord blood, for conditions that have no cure today. CBR has stored over 500,000 cord blood and cord tissue stem cell units and is the #1 recommended cord blood company by OB/GYNs and expectant parents.
Before Marketo, CBR invested in traditional advertising such as print ads and television, but they lacked insight and reporting into what was working. With no way of segmenting their database, everyone they communicated with received the same content. Also, regardless of level of interest, every response to a marketing campaign went directly to the sales team, creating a lack of alignment between the two teams. In 2013, CBR created several strategic partnerships to reach more expectant parents and finished the year more than a million names in its database. With that many potential clients to communicate with, CBR recognized the need for an automated platform to help nurture those relationships and identify potential clients ready to talk to the sales team.
As CBR began evaluating platforms, they discovered that most marketing automation solutions were only geared toward business-to-business use cases. CBR wanted a partner that understood consumer marketing challenges and could enable them to have more personalized interactions with each potential client. In the end, CBR chose Marketo because it provided the best solution for CBR’s consumer marketing needs.
With Marketo, CBR can easily segment its potential client database by certain criteria, such as level of interest or where a woman is in her pregnancy, and create nurture streams based on those criteria. Because they can easily measure consumer activity and engagement, they now know when a potential client is likely ready to talk to a salesperson, increasing the likelihood that a potential client will convert to a customer once a sales person engages with them.
The Marketo Customer Engagement Engine helps CBR put rules in place to limit the number of communications prospective parents receive, even if they are in multiple nurture streams. Marketo’s single marketing dashboard means everything is visible in one place, so CBR knows exactly how potential clients are responding to emails and which content is most effective. Because of this rich behavioral information, CBR is better able to assess the needs and interests of individuals.
In the six months since implementing Marketo, CBR has increased its click-to-open rate to almost 33%, especially impressive when you consider that CBR is sending hundreds of thousands of emails each month. “Customer engagement is what it’s about,” says Tia Newcomer, Vice President of Marketing for Cord Blood Registry. “The more engaged customers are, the better results we get. Since implementing Marketo, we have tripled our click-through rate. That engagement we’re seeing--Marketo is making that possible. It’s a fantastic trajectory that we continue to be on.” CBR has also improved its opt out rate, remaining consistently under their target of 1% which is impressive considering the company’s large database. With Marketo, CBR has increased its conversion of expectant parents who decide to bank their newborn’s cord blood with CBR from less than one percent to over two percent.
“Marketo powers our ability to tee up initial conversations about our product and engage expectant parents. That’s really powerful. In just six months, we have doubled our rate of converting potential clients into customers, a fantastic trajectory to be on. A point of conversion is worth a lot when you're looking at millions of people in your database,” explains Newcomer.