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A critical part of every business’s growth story is generating leads and converting them into customers.
Usually, when companies hire, train, and manage teams for sales and fulfilment processes, they often ignore the need to build a super-fast funnel-data analytics engine or don’t know where to get started.
The bulk of the burden rests on the CRM, which is a great tool for lead management, but doesn’t have the flexibility to push customized, real-time data updates across the length and breadth of the funnel (apart from a few simple and obviously built-in ‘filters’ that can be used by sales reps).
To solve this problem, and help our customers grow faster and make better decisions in real-time – we are introducing ‘Custom Lead Prioritization’ across the SquadStack platform!
Usually, when companies hire, train, and manage teams for sales and fulfillment processes, they often ignore the need to build a super-fast funnel-data analytics engine or don’t know where to get started.
What is Custom Lead Prioritization?
Sales teams know how hard it is to convert leads into customers, especially when there are countless leads to choose from. Manual or simple filter-based prioritization becomes difficult in the face of an abundance of leads and data.
In the absence of the right tool, low-quality or spur-of-the-moment decisions made by sales reps tend to affect conversions negatively.
With this new update, we have built a priority feature on our platform that goes beyond the standard built-in ‘filters’.
Now, businesses can take control of their calling, and prioritize their outreach on the basis of custom parameters such as – date-time, cart size, last-login, etc among 40+ other meta-data points (all of which can be passed via APIs).
No more last-minute decision making! With custom lead prioritization, communicating with your leads, and converting them into customers becomes a lot more systematic and simplified.
Why is it important?
Chasing multiple leads and prospects takes time and requires multiple follow-ups with the right messaging at the right time. It’s a classic high input, high output activity.
We couldn’t help but ask this question – “What if we could help our customers put in better inputs, so they can get to their desired output faster?”
Prioritizing your leads is important because it helps you make the best use of your resources. By taking in the complete meta-data of your leads and designing a custom prioritization strategy, SquadStack guarantees that your reps speak with the highest intent lead first, instead of relying on pre-built filters, or even worse, brute-force dialing.
With this update, we’re helping our customers massively improve their inputs – i.e. which lead to talk to first and when to follow-up for maximum impact, so you significantly boost your chances of converting them into customers.
With custom lead prioritization built-into the SquadStack platform, businesses can now be assured that they are always reaching out to the high priority leads on time.
How does it work?
Let’s understand this feature with an example.
Say you are an e-commerce brand and have two leads in your funnel, Lead A and Lead B.
Lead A has a cart value that is 10x compared to Lead B. Now (maybe) you think your outreach should prioritize reaching out to Lead A first, since a higher cart value translates into more value for your business, and so your sales reps follow a simple ‘cart-value’ filter strategy.
Now consider what happens if –
- Lead B has logged in 2 times more than Lead A, with the latest log-in just 5 minutes back?
- Lead B is also in your target age or demographic segmentation, someone that is closer to your ideal buyer persona?
In the real world, your agents don’t know how to make this distinction, since they don’t look at all the metadata. Plus, if you’re dealing with a lot of leads on a daily basis, it gets difficult for agents to streamline this process by just relying on pre-built commands that are not customizable as per your needs.
As a result, teams often delay reaching out to leads with high purchase intent, and that sometimes even costs them an opportunity for closing a sale!
This is where our ‘Custom Lead Prioritization’ comes to the rescue – it automatically prioritizes communication-based on all the metadata attached to your leads, ranking, and playing them off against each other to derive the best communication strategy.
With lead prioritization enabled as per your own parameters, you can easily reach out to leads with ‘higher value’ first (not necessarily just higher cart size). This powerful feature ensures that you don’t compromise on high quality or the ‘hottest’ leads in your pool – and generate more sales opportunities for your business!
Plus, our machine learning models continue to find patterns in your metadata, therefore, learning and improving on their own.
This feature also gives you visibility on the correlations between the leads you convert, and their respective metadata, and with these insights available in your dashboard, making better decisions becomes a lot easier and data-backed for your sales teams.
What are the benefits?
Businesses who trust and leverage the SquadStack platform for lead outreach and engagement can reap three key benefits with this feature:
- Higher connectivity with their leads
- Improved re-connectivity with systematic rescheduling and targeting of calls
- More chances of converting high quality leads into customers with priority outreach
Put simply, this is a game-changing feature for our customers and we’re super excited to roll this to everyone who’s using our platform! We hope you get the best out of this.