News

Spear Client Navicure Wins Marketo Revenue Performance Award

Software Firm Records 200% Increase in Raw Inquiries, 135% Jump in Sales Opportunities

Walnut Creek, Calif. – September 7, 2011. Navicure, a leading provider of automated, Web-based revenue cycle management solutions for physician practices, was the winner of a Marketo Revenue Performance Award for “Most Dramatic Business Impact” at last week’s Dreamforce conference.

Atlanta-based Navicure won the award for their measurable improvements in raw inquiries, sales opportunities, cost per lead, and closed deals, aided by its demand generation agency, Spear Marketing Group.

Initial strategy lays the groundwork for demand generation success.

Faced with a need to 1) generate a steady stream of raw leads, and also 2) effectively nurture these raw leads to become qualified opportunities, Navicure selected Marketo as its marketing automation platform. Simultaneously, the company engaged with Spear, a Marketo solutions partner, to help build the demand funnel, develop the overall strategy for demand generation and lead nurturing, and design the creative assets that would power the new system.

Working with Spear, Navicure developed a systematic approach designed to drive new leads into the pipeline and to nurture those leads into opportunities. First, Marketo registration forms were deployed throughout Navicure’s Website, blogs, PPC program, and online advertising campaigns, to better capture leads and track lead lifecycles. Then an automated (triggered), multi-phase lead nurturing program was implemented to 1) generate interest from existing database contacts and 2) to move raw leads through the sales pipeline.

Coordinated effort yield astounding gains in inquiries, opportunities, and sales.

Since implementing Marketo, Navicure has seen a dramatic improvement in lead generation results year over year and a considerable decrease in the average cost per lead (down 26%). In 2010 alone, Navicure saw a 200% increase in raw inquiries. With that increase in raw leads and a more effective nurturing program, Navicure realized a 135% increase in the number of sales opportunities created and from those opportunities, a 148% increase in opportunities won.

“We congratulate the entire marketing team at Navicure on their deserved recognition for some truly exemplary results,” said Howard J. Sewell, Spear Marketing Group President. “We’re thrilled to have been a part of their success, and look forward to continuing as a strategic partner helping to drive measurable results for the Navicure business.”

“Navicure’s marketing team views demand generation as a combination of art and science,” said Phil Dolan, Navicure’s chief marketing officer. “Spear Marketing has been very effective at helping us engage prospective clients with relevant content wrapped in inviting creative delivered in the right media. Direct mail, email, events, paid search, and social media have helped generate brand awareness and interest. Marketo’s platform has enabled us to convert that brand interest to preference and engage prospects with Sales at the right time. We view what we do as a never-ending quest, but we’re honored to be recognized by Marketo for our results thus far.”

“The Revenue Performance Excellence Award winners are thought-leading organizations that are using RPM to truly shake up their industries and change the world,” said Paul Albright, chief revenue officer at Marketo. “Through their cutting-edge uses of Marketo, they’re seeing dramatically improved productivity across their entire revenue cycle. We are extremely proud of Navicure’s achievements and look forward to many years of working with them as they continue to innovate with Marketo.”

About Spear Marketing Group

Spear Marketing Group is a full-service agency specializing in demand generation, lead management and ROI-based marketing. The firm services a wide range of clients in high-tech, real estate, and other sectors from its offices in Walnut Creek, CA and Seattle, WA. Clients include Apriso, Google, and Legacy Partners. For more information, visithttps://spearmarketing.com.

About Navicure

Navicure is a leading Internet-based medical claims clearinghouse that helps physician practices increase profitability through improved claims reimbursement and staff productivity. Serving over 20,000 healthcare providers in practices nationwide, Navicure’s solutions automate account receivables processes, including primary and secondary claims reimbursement; patient eligibility verification; rejected and denied claims management; electronic remittance and posting; claims and remittance reporting and analysis; and patient statement processing. Navicure’s solution is supported by its unique 3-Ring(TM) Client Service. Navicure is a member of the Medical Group Management Association(R)
(MGMA(R)) AdminiServe(R) Partner Network and also received Best in KLAS(TM) distinction for the clearinghouse services market segment as part the 2010 Top 20 Best in KLAS Awards: Software & Professional Services report. Navicure earned the same distinction in 2008. KLAS is a leading source of information on healthcare information technology vendor performance. Navicure is also the founding sponsor of icd10hub.com, a free educational website devoted to making physician practices’ transitions to ICD-10 and 5010 easier. For more information, please visit www.navicure.com.