EBQ’s success prompted ClaimTECH to continue adding Specialists to scale their well-trained, internally managed EBQ team.
ClaimTECH had developed a unique, yet complex, technology for an industry problem that had existed for decades. While intuitive and powerful, their technology and solution didn’t sell itself. The phrase “if you build it, they will come” seemed a falsity.
ClaimTECH quickly realized it needed to educate and sell to two completely different industries, insurance carriers and medical providers, simultaneously. To further complicate the sales process, the decision makers ClaimTECH needed to speak with were typically executive-level individuals, who were difficult to reach and to keep engaged for more than a few minutes.
Like many companies, ClaimTECH set out to build its own internal sales force. Through this process, they hired and fired 26 individuals over the course of a year and a half. All with strong resumes, who claimed to be superstar salesmen.
Their sales efforts yielded some fruit, but ClaimTECH knew there had to be a better way to grow quicker. ClaimTECH realized selling efficiently would require seasoned professionals who were micromanaged and completely focused on delivering results. Over the course of another year, they tried various vendors who made endless “pie-in-the-sky” promises but unfortunately provided more mediocre results.
After spending a few hundred thousand dollars testing more internal hires and outside vendors in A/B splits, ClaimTECH still only had a fraction of the results they believed were acceptable given the value of their product. They needed a new, robust strategy that wouldn’t take months to get up and running. To become a category king, they required speed to market.
Around this time, EBQ serendipitously contacted ClaimTECH. ClaimTECH, having already worked with other vendors, was hesitant about working with yet another vendor. EBQ understood the reservation but remained persistent to get ClaimTECH’s attention, eventually EBQ offering to visit ClaimTECH and talk through what makes EBQ different.
After only an hour, it was clear there was a synergy that was absent with other vendors. Instead of overpromising and under delivering, EBQ showed ClaimTECH its suite of services which were process-orientated, micro-managed, and results-driven.
ClaimTECH agreed to visit EBQ’s headquarters for a strategy session, and this whiteboarding session quickly turned the light bulbs on for both ClaimTECH and EBQ. Through this exploration, EBQ further customized their suite of services to best fit ClaimTECH’s needs, finding various opportunities for accelerated growth.
EBQ’s cost of services was just too good to pass up (a fraction of what they paid internal hires and other outside vendors). ClaimTECH agreed to pilot their services for a few months and would evaluate the results during the period. ClaimTECH appreciated that they could terminate their contract with EBQ without repercussions at any point, unlike other vendors who required more advanced notice.
During the 90-day pilot, ClaimTECH yielded more results than they had the entire previous year. While the results were significant right out of the gate, they continued to produce. An additional 90 days later, ClaimTECH was closing sales generated by EBQ’s initial efforts. The pipeline had officially become a continuous flowing source of new leads and ultimately new sales.
ClaimTECH commented early in the process on the closeness they felt with the EBQ team, as if they were dedicated ClaimTECH employees. They celebrated successes together and learned to communicate back and forth in a very productive but enjoyable manner. EBQ’s resources were interacting with ClaimTECH’s Fortune 500 clients in a beyond professional manner. Their ability to develop relationships with those they spoke to translated as deep as knowing pet names, favorite wines, and how their kids did at baseball practice the night before.
These notes and interactions were shared with ClaimTECH, documented in Salesforce, and allowed everyone to stay on the same page as the accounts were developed and maintained. This personal touch built into ClaimTECH’s internal processes and brand image helped accelerate the brand’s identity. Not only did EBQ perform beyond ClaimTECH’s wildest imagination, but they also helped (and continue to) develop extensive databases for lead generation, which alone can be quite expensive.
In full disclosure, ClaimTECH terminated their contract with EBQ at one point. They believed they had mastered EBQ’s technique and wanted to replicate it internally. Thinking the process was simple and straightforward, it seemed so easy to replicate. However, ClaimTECH quickly learned that EBQ had made the impossible look easy. It took only a few short months before ClaimTECH came back to EBQ, realizing that their sales process was one of a kind.
“EBQ’s process is scientific, and they drink their own Kool-Aid,” said Nick Palmby, CTO/COO of ClaimTECH. “The process and the skills they used to sell ClaimTECH into getting started are the same processes and skills they use to help their clients’ sales efforts. When they started with us, they had roughly 30 employees. They’ve grown organically to more than 180 now. Their operation is nothing short of impressive.”
ClaimTECH themselves started the relationship with 6 internal employees—they now have 9, with EBQ making up the rest of their workforce. As a direct result of EBQ’s efforts, ClaimTECH saw dramatic results across various aspects of their business. A true quantitative measure can be found in their monthly revenue, which exploded more than 3x over in just the first year with EBQ.
As revenue increased, ClaimTECH could calculate ROI and saw increased margins due to EBQ’s efforts. Over the course of the 4-year partnership, ClaimTECH saw an ROI of 200% and brings in roughly $3 million in sales per year. Being able to monitor the sales process from the analytical dashboards provided by EBQ gave them excellent visibility.
ClaimTECH started with one EBQ resource. Three months later, it expanded an additional two resources. As of this writing, ClaimTECH utilizes 2 EBQ resources for lead generation and 8 resources for sales.