Challenge: Low conversion rates on leads

The outbound call center of a large Australian financial services group was conducting a tele-marketing campaign offering credit cards to existing customers of other products. Calls were being allocated at random to agents by their automated system. However, the group was experiencing low conversion rates on the leads and wanted to explore methods of increasing them. QVARTZ Analytics was asked to help pilot a new system to determine if any improvement could be made by intelligent allocation of leads to specific agents. The pilot would be undertaken over a two-month period.

Solution: Integrating new and existing lead allocation

A new lead allocation system was developed based on historical data on the leads used by each agent including whether that lead had translated to a sale. In order to maximize the number of sales conversions, the lead system was calibrated to intelligently allocate leads to the agents by matching the best agent to the most appropriate customer lead. The integration of the new intelligent allocation system with the existing leads allocation system was completed in just two weeks and was so seamless that agents were unaware that changes had been made. While the system was operating, the department manager was able to view real-time progress on lead processing online. Also easy-to-use reports could be accessed as required at either department, team or individual agent level for any time period.

Impact: Sales up by 19%

Results of lift in the numbers of sales were measured by randomly separating leads into two groups:

 

  • The Control Group (leads allocated randomly to the agents)
  • The Target Group (leads processed through the intelligent lead allocation system)

Agents received a mix of both Control and Target group leads filtering for any difference in sales technique/ability of individual agents. The Target Group leads delivered an increase of 19.1% in the numbers of sales made over the Control Group. These initial results were achieved with calibration of the system using historical data. An additional benefit of the new system is the ability to collect superior data going forward. It is anticipated that improved calibrations will be performed using the new data and higher lifts in sales will be made.