Ask a smart marketer and she will tell you: all leads are not created equal. A lead sourced from an onground activation exercise converts very differently from those that are teased out online. Why indeed: leads from different online channels, ones received from search act very different from the ones that come from Facebook. Sometimes even within search there are seasonal variations, ask anyone from the travel industry and you will know.
Measuring. By test and control: At Hansa Cequity we help our clients discover the vagaries in their lead collection and conversion process. Our lead scoring methadologies can predict which leads will convert better. Work for a holiday company helped them segment and prioratise their prospect list using a custom algorithm. In fact leads scored by the algorithm showed a lift of 3.3% lift when compared to the control group.
The many ways of looking at lead scoring: Hansa Cequity has been called upon by marketers solve a variety of lead scoring issues. Upon discovering that a referral program involving existing customers was helping generate the best possible new leads for a brand, we dived deep into the origin of the leads that created customers who referred more. We further studied when and what actions are leading members to refer others who could become new customers. This analysis helped the brand create a program and build a new channel that today brings in about 30% new customers for the brand.
Beyond lead scoring. Lead nurturing: Our client, an automotive company had a sales process that presupposed that any lead over 45 days old was not worth looking at. At the end of the 45 day cycle, a lead was assumed to have turned cold and had to thereby be consigned to the lost leads database. On analysing historic data, we discovered that many conversions had taken up to nine months after the prospect came in. In fact some 6% of new car buyers were leads that had passed the original sell date. A lead nurturing program was put in place and in a 6 month period, where we measured conversions some 346 new cars were sold to leads that had crossed the 45 day threshold.
Hansa Cequity as part of our “acquire, retain, manage” approach to customer strategy have a team of specialists who help clients look at their acquisition strategies. Deepika Taneja, Manager Analytics Hansa Cequity will showcase our expertise in lead scoring at a webinar on Thursday, the 21st of May, 2015.
Deepika comes with over 8 years’ cross-industry experience in analytics. She has worked in the pharmaceutical, retail, automotive, timeshare and telecom verticals. She graduated from IIT Bombay with a degree in M. Tech in Industrial Engineering and Operations Research and has a wide exposure in areas such as sales force territory alignment, segmentation, targeting and call planning, sales force sizing and optimization, social sentiment analysis, lead scoring and nurturing, brand scoring, pricing simulator, forecasting models for a new launches and attrition modeling.
Let Deepika Taneja lead you thru a session on Lead Scoring on Thursday 21st May from 2.30 – 3.30pm. Register here: https://attendee.gotowebinar.com/register/7746951487879983874
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