The Crawl, Walk and Run of Lead Scoring. Ken Inman, TARGUSinfo Dorean Kass, TARGUSinfo

Transcription

1 The Crawl, Walk and Run of Lead Scoring Ken Inman, TARGUSinfo Dorean Kass, TARGUSinfo 1

2 You receive leads from many channels: - Phone - Web - Display Ad Do these channels tell you anything about your leads other than how they reached out to you? Do all your leads get treated the same? Do you tailor your messaging to different sets of inbound leads? Do you get your prospect information in real time? Do you route leads to the best-matched agent based on their likelihood to convert or potential value? 2

3 Luxury Villa Renters Affluent older homeowners with no children living at home. They are found primarily in the suburbs of large metropolitan areas. Demographic Overview Average Age: 54 Average Income: $128,296 Have Children: 14% Homeowners: 96% Cost of Living: Low Neighborhood Type: Suburban Race & Ethnicity: Predominantly white Lifestyle & Leisure Enjoy playing and watching golf Take cruise ship vacations Frequent domestic travel Drive a Jaguar Like to buy a new car every two or three years Listen to new age music on XM radio Key Vacation Rental Behavior Typical Expenditure is higher than average Travel in all seasons; flexible schedules Prefer unique/luxury experience over value Enjoy active leisure; golf, tennis, walks, light hikes Typical Length of Stay is above average Tend to be empty nesters (no children) and rent smaller units Marketing Messages These empty-nesters have carefully saved and invested their money so they can retire in comfort; however, these savvy money managers still research their expenditures and hunt for a good deal. They do enjoy premium channels, especially sports and movies, and they rely on a high-speed Internet connection to manage their investments, make travel arrangements, and stay connected with family and friends. Even though they rely on cell phones for business, these traditionalists still use their landline when making personal calls at home. Offer the triple-play package as a smart and cost effective solution to all their communications needs.

4 Customer Scoring A Scoring Example: John flies at least 3 times a month, so ABC Airlines considers him a Gold customer Steve only flies once a year, so he would be considered a Bronze customer John will receive more perks and upgrades from ABC Airlines, while Steve will receive more promotions and encouragement to travel more Nearly every company currently scores customers based on their buying behavior. Lead scoring is about predicting these behaviors in prospects.

5 What is Lead Scoring? Predictive Descriptive

6 What is Lead Scoring? 800 Number Direct Mail Web Form TV Ad Print Ad

7 What is Lead Scoring? 800 Number Direct Mail Web Form Highly Likely to Stay & Pay TV Ad Highly Profitable Prospect High Quality Data and Likely to Convert More Likely to Buy a Lexus than a Hyundai Buys More When Dealing with the Best Agents Print Ad

8 Score and Prioritize Incoming Leads INCOMING LEADS Peter Jones Roberto Diaz Kelly Smith Samuel Byrd Josh Reed Ron Peters Mary James Sue Ford Andy White Robert Jensen

9 The Value of Lead Scoring Convert Be More Profitable Higher Lifetime Value Place Larger Orders Responsive to Up Sell/Cross Sell Offers

10 The Crawl, Walk and Run of Lead Scoring Crawl Prioritizing leads Optimizing lead sources and media channels Walk Matching leads to agents/sales staff Customizing lead nurturing communications Run Real-time customization Find your best prospects online

11 Simple but yet

12 It Takes Data

13 It Takes Models

14 Complete Transparency is Critical?

15 It Takes Process

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17 Crawl $ $ $

18 Crawl Data Model Process Minimal No Conversions Standard Simple Prioritize queue Type inbound leads

19 A leading provider of term life insurance quotes The Challenge Inbound leads needed to be better prioritized for the sales team We knew that 20% of our leads were unlikely to move through to paid status the problem was that we didn t know which leads were which. - Sean Cheyney, Vice President of Marketing and Business Development

20 The Solution On-Demand Lead Scoring from TARGUSinfo Leads are ranked on a scale of 1 to 10 based on their propensity to purchase The most likely-to-purchase prospects are then moved to the top of the queue for the outbound dialer The best scoring leads go to the best agents, while leads that are judged to be less likely to convert are contacted through or passed to trainees 20

21 The Result 4-5% increase in sales conversion Improved ability to predict intent to purchase A boost to sales team productivity freeing up an extra hour a day per agent to spend on cross-sell and needs analysis Lead scoring is very intuitive, even to a novice. Our lead scores now touch all areas of our operations, from media buys to the call center to sales management. Lead scoring is a win-win for AccuQuote on both the expense and top line sides. - Don Loonam, Senior Vice President of Sales, Marketing and Fulfillment

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23 High-Value Callers Dedicated Agents IVR System Low-Value Callers Scoring Model Overflow Agents

24 Walk Data Model Process Conversions Lead form Predictive Validation Prioritize Vary treatment

25 Liberty University is the largest and fastest growing Christian Evangelical academy in the world. Currently, the university has nearly 52,000 students enrolled 11,900 on its campus in Lynchburg, VA, and more than 40,000 online. The Challenge Online university needed to manage large volumes of leads and focus on high-value prospects We knew we were treating all leads the same. Our enrollment counselors were giving the same amount of attention to serious learners as they were to window shoppers. - John Donges, Executive Director for Liberty University Online

26 The Solution On-Demand Lead Scoring from TARGUSinfo Liberty University now scores each lead and prioritizes its efforts to convert the most promising ones into students 26

27 The Result Converting 4-5% percent more high-quality leads into enrollments Saving $150,000 a year on direct mail costs Qualifying our leads with On-Demand Lead Scoring lets us focus on our mission by directing us toward eager learners instead of wastefully slogging through unproductive leads. - John Donges, Executive Director for Liberty University Online

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29 IVR System Scoring Model 29

30 Looking to the Future 30

31 Run Data Model Process Conversions Customer research Predictive Multiple scores Integrated CRM Vary message and offer 31

32 Blind Case Study: A direct response product-based company The Challenge All buyers are treated the same Long sales process, up to 6-8 months 32

33 The Solution On-Demand Lead Scoring from TARGUSinfo Each lead is scored according to likelihood and capacity to purchase All offers and messaging are customized for the individual prospect 33

34 The Result Time to close decreased by 22% Direct mail costs reduced by 7%

35 Summary Lead Scoring can be applied to any prospect channel The benefits of Lead Scoring are clear: Sales and marketing teams can more effectively indentify best prospects boosting conversion rates and improving both sales and profits Next step: Get a conversation going

36 Q & A

37 For more information: Dorean Kass Director, Consumer Facing Markets TARGUSinfo