How to Convert More Prospects into Customers. Presented by: Stuart Ganis, Velocify
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1 How to Convert More Prospects into Customers Presented by: Stuart Ganis, Velocify
2 No Guess Work-Real Data Industry s largest lead management technology provider Serve several distinct verticals with strong presence in Ins, Mortgage, EDU Over 1,600 clients ranging from 1 to 1,000+ user accounts Process more than 5 million new leads per month Copyright 2013 Velocify, Inc. All Copyright Rights Reserved Velocify, Inc. All Rights Reserved.
3 Culture Belief Positive Attitude Charisma Motivation Leadership Growth
4 Staggering lead waste 1in3 LEADS Are never contacted by an Agent
5 Too slow to respond 48 HOURS Average time a prospect waits for a response
6 Agents give up too soon 1 CALL ATTEMPT Average number of call attempts per lead
7 It s not (always) the Agent/CSR s fault New leads Scheduled calls/quotes Inbound calls 100 s of Daily Activities Admin work Outbound Sales/Service Requests from Management Applications UW Requests Culture + People + Sales Process = RESULTS
8 Ultimate Contact Strategy Background Goal of Study: Recommend the right volume and frequency of both calls and s for maximum conversion results Build on past research, refreshing previous data and adding new dimension Data Analyzed: 3.5 million converted leads over a six month period No Guess Work Data Driven Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
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10 10
11 11 Do not Duplicate Copyright Velocify 2014
12 12 Do not Duplicate Copyright Velocify 2014
13 Lead Response Time Matters Speed-to-call continues to be the single largest driver of lead conversion Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
14 Contact Strategy Phone Calls Diminishing returns AND decrease in conversion rate occur after the 6 th phone call: Only 1% increase in additional conversions Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
15 Optimal Call Strategy Prospects first contacted on second call 60% 58% Conversion relative to average 40% 20% 0% -20% -40% -60% 0-30 minutes minutes minutes minutes minutes minutes minutes Recommendations based on conversion of contacted leads Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
16 Contact Strategy s 59% of prospects aren t sent any s 16% higher contact rate with 96% of all converted leads are contacted prior to being sent six s Those sent 6 or more s prior to contact are 36% less likely to convert than those sent 5 or fewer s Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
17 Optimal Strategy 100% Prospects first contacted after second Conversion relative to average 80% 60% 40% 20% 0% 85% -20% Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Recommendations based on conversion of contacted leads Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
18 Velocify s Ultimate Contact Strategy Expected Improvement in Conversion: Six Call Strategy: +49% Five Strategy: +53% Combined Effect: +128% Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
19 Summary Speed-to-contact is the most significant driver for increased conversion 391% increase in conversion when first call is placed within a minute Calling six times to make contact maximizes conversion without wasting resources - OK to call more than 6 times! Properly timing each call attempt increases conversion an average of 49% ing more than five times before contact can start to have a negative impact on conversion rates Properly timing each sent increases conversion an average of 53% Combining recommended and phone strategies can more than DOUBLE conversion rates Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
20 Rapport Building People Love to hear their name-use it often! Eliminate Negativity Keep it Simple-No Insurance Jargon Sense of Humor Don t mistake Rapport for being a good talker Find Client Hot Button You have 2 Ears-Listen Twice as Much as you Speak Paint a Picture of Simplicity Speed is Key for the online Consumer
21 Rapport Building Sell by price die by price Sell benefits, not price alone Identify client hot buttons to target conversation Make it least about price-benefits Matter! Benefits and coverage before price Ask for the Business Ask for the Business Believe!
22 Important Takeaways Results reflect an aggregate of best practices from 3.5 million converted leads The optimal strategy for individual companies or industries may vary Process is critical and technology facilitates the implementation of process Salesmanship still matters! Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
23 Questions Copyright 2013 Velocify, Inc. All Rights Reserved. Confidential Material. Do Not Distribute.
24 Stuart Ganis Director, Insurance Velocify Follow me on Twitter- LinkedIn-FaceBook-G+
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