Leads Nurturing for Mobile Operators
The process of leads nurturing is a vital action in acquisition management, however one which is regularly missed out on by mobile operators. In the majority of industries, sales people invest most of their time performing “leads nurturing”– seeing sales leads not as disposable, one-off cold calls, however rather as an essential process that creates interest, purchasing intents on the part of the prospect, enhancing the possibility profile and looking for the right timing and the ideal contact channel to approach the lead.
The chart left wing shows a typical result of a mobile telemarketing acquisition campaign. As can be seen, more than half the leads don’t address the calls (either due to the fact that the number is invalid or inactive, or merely since they do not respond to such calls); between 20%-30% of those who answered end up being the operator’s subscribers (often due to information problems, often due to the fact that leads are mostly fixed lines); at least another quarter are not in the relevant section– for example a company lead when the offer is a private contract; generally a quarter of the appropriate
leads, in the appropriate section who responded to the call are interested in the deal– they either agree to get another call, recall the call center or agree to set a conference; and lastly– about 20%-30% of those interested actually purchase. Overall conversion rate of this process is generally under 1.5%.
Increasing Conversion Through Leads Nurturing
The process of leads nurturing can significantly increase the resulting conversions by dealing with the various aspects shown in the graph above. Just like the data an operator has in its CRM on existing subscribers, crucial details on potential customers can improve and improve the entire telemarketing process. The info for this can be provided from numerous sources:
- Open web information– locations like forums, listings, advertisements, blogs include very abundant information on many of the prospects, which can be harvested to substantially enhance acquisition performance
- Call center past campaigns– during the projects, a lot of data is gathered on the failed prospects– names, locations, agreement information, calls unanswered, and more. This data should be recorded and reused in later projects.
- Previous CRM data– offered the high churn rates in the mobile market, more than 50% of the subscribers in an offered nation were with a minimum of another operator in the last 2 years. This provides plentiful details on personal information, use patterns and agreement info.
- Other details sources
All this info can now be tamed to improve every step of the acquisition process:
- Telemarketing call setup– the CSR needs to be informed of critical offered information before making the call, in order to take full advantage of the quantity of relevant, responded to calls. A good method for screening existing clients is crucial to minimize the project’s negative effect. Second of all, selecting the right consumer to call at the right time based on readily available data substantially increases resulting interest.
- Call situation information– having essential information such as name, area and segmentation of the prospect is essential to generate an effective telemarketing call. This information can help the CSR surpass the opening sentences and into the actual offers, and hence generate a lot more interest.
- Sales– bottom line sales ratio is of course drastically increased when the limiting elements in the chart above are enhanced.
Efficient leads supporting requires sufficient call center systems, incorporated with various data sources into a main acquisition data base. Such services exist in the market, and have been shown to substantially enhance acquisition lead to a variety of mobile operators.
Tal is a Co-Founder and Chief Technology Officer at Mintigo. He brings more than 15 years of experience in software advancement. Prior to Mintigo, Tal was AVP Research Study and Development for modu, the modular mobile handset business. His previous experience includes developing complex, large scale information analysis systems. He holds a B.Sc. EE and a B.A in Physics from the Technion– Israel’s prominent school of innovation. He also holds an executive MBA from Tel Aviv University.