Stanley Black & Decker Increases Market Share with Pardot
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- Increased market share
- Reduced length of sales cycle by 30% within one year
- Easily identified the 34% of qualified leads in their database, thereby improving the lead follow-up process
Stanley Tools, founded in 1843, merged with Black & Decker in 2010 to become Stanley Black & Decker, an 11-billion dollar global provider of diversified tools, storage, and security. Stanley Black & Decker not only sells and manufactures tools, they also sell franchises. The company serves everyone from retail customers to highly-engineered solutions in the industrial marketplace.
Putting the Customer First
“The End User” is an idea that’s core to Stanley Black & Decker’s DNA — but prior to Pardot, the company didn’t have the data or the brand strategy to engage with their end users across the entire buying cycle.
“It’s all about the consumer experience, whether you’re selling a franchise or you’re selling a tool. You want that consumer to feel like he’s understanding and getting all the information that he needs, whether he’s in the marketing process or the sales process. There should be no difference to him,” says Robert Holmes, Vice President of Marketing and Sales, Mac Tools.
At the time of their Pardot implementation, Stanley Black & Decker was undergoing a messaging transformation: instead of having a single, sales-focused message, they really wanted to drive home their new positioning as a solutions-based provider, all the way down to the end user level. But first, they needed to better understand the needs of their user base.
“We had email addresses, but we didn’t know who they were. We didn’t know what they did,” said Alan English, Senior Brand Manager, “Moving to Pardot allows us to really segment that list and move from a batch and blast standpoint to something that we are really targeted and direct with our individual contact with those end user customers.”
Pardot’s segmentation abilities were critical to putting this customer-centric strategy into action. In order to gain insight into the types of messages that would resonate with their buyers, they began using Pardot to collect important data points about their users.
“Once you understand your customers’ behavior and purchasing patterns, you can make smarter decisions and really help get them the things that they need,” continues Holmes. “Pardot Salesforce allows us to track behaviors and better understand our customers, so that we can deliver a message that creates demand. Once that demand is created, it’s about continuing to deliver that message until you close the deal.”
Applying Customer-Centricity to Sales
This customer-centric approach to marketing extends to Stanley Black & Decker’s sales philosophy, too.
“Ultimately, all sales start with the consumer and end with the consumer. What we need to do in that timeframe is understand exactly what takes place and how we got there, from the point when the demand is generated all the way through until the sale is closed,” explains Holmes.
By using Pardot to create landing pages on the fly, Stanley Black & Decker’s marketing team can get their buyers into the sales cycle more quickly, while simultaneously arming their sales team with important information about each potential customer.
“With Pardot, marketing is personalizing the conversation with content tailored to each buyer, and sales has complete visibility into that conversation. By the time sales engages, the buyer is educated and ready to make a decision. Sales knows exactly where to begin the conversation,” comments English.
Marketing is also providing targeted lists and empowering their sales reps to communicate with their buyers at the individual level. This allows sales reps to customize their emails and improve their response rates, even when they’re out in the field.
Michael Button, Franchise Sales Manager, has seen what sales reps can do in the field when they’re enabled to sell with Pardot. “The ability to send content out of Pardot to prospects can only increase a sales guy’s chances of winning. I’ve completely flipped from believing that the sales rep is the most important piece to believing that marketing is the most important piece, because they can really increase a sales guy’s chance of winning.”
“There’s an opportunity within the organization to really blur the lines between marketing and sales,” agrees Holmes. “Pardot is absolutely helping us do that.”
Increasing Market Share
“One of our biggest challenges prior to implementing Pardot was getting a single look at the ROI captured across all of our different marketing assets, whether that be pay-per-click, trade show, website, print, publications, our catalog, sales,” shares English. “Pardot gives us a 360-look, from our marketing assets to our sales cycle and even our customer service team.”
Since implementing Pardot, the Stanley Black & Decker team has seen the following results:
- an increase in market share
- a 30% reduction in sales cycle length in their industrial storage business within one year, and another 25% reduction in two years
- improved lead follow-up by identifying the 34% of qualified leads in their database
“To see that information makes you realize: how was I living without this information? How was I doing it before?” finishes Holmes. “Ultimately, Pardot and Salesforce has given us the ability to be way more effective, while still putting the customer first.”