A Leading BFSI Company Improved its Conversion Rate by 21% with Lead Scoring Solution by Datahash
The client was facing issues with the increasing traffic on the website and management of their leads. It was cumbersome for the client to identify the qualified leads against the dead leads. A lot of time was wasted behind analytics to understand which leads are going to bring conversions.
Organizational proficiency was lagging in the processing of the data and leads between the teams. The sales team and marketing team weren’t aligned to figure out the leads that would bring them conversion. It was difficult for the sales team to prioritize their efforts and realize their full potential in converting the leads, which eventually resulted in a loss of revenue.
The biggest challenge was to leverage the accumulated user data to drive actionable outcomes.
Our Approach to Solution
We conducted an audit to analyze the behavior data gathered from Google Analytics 360.
We then ingested the data into Big Query to extract features that have a higher chance of a conversion. Based on these insights, we built an ML model that would predict the chances of the user to convert into a customer.
The outcomes were gathered and integrated into the call center interface (sales software) of the company to prioritize the calls based on the user’s interests and preferences. The performance was measured periodically and optimized according to seasons and sales cycles.
And the Results?
- The Lead Scoring project facilitated the client company to find hot leads based on user browsing habits
- The sales team can now view and bifurcate the leads easily and pursue leads accordingly
- From non-existent and non-visible score leads, the conversion of users into customers increased by 21%
Banking & Financial Services Institution
About the Client
This client is one of the leading private BFSI companies of its kind. The company offers its customers a range of life insurance health insurance and pension products and services. The Assets Under Management (AUM) as on 31 March 2019 were more than USD 100 billion