Interview with Ricard Bonastre
Our CEO and Co-Founder, Ricard Bonastre, has given an interview to Marketing4eCommerce, where he explains what Lead Ratings is and the benefits that our predictive software provides to companies that work with a large volume of leads.
In a few words, what is Lead Ratings?
Lead Ratings is a software-as-a-service (SaaS) that predicts if a user that is navigating your website or that has filled an enquiry form (lead) will end up buying. To achieve this, Lead Ratings uses a software based on predictive algorithms.
How did your project come up?
During my time at eMagister, I detected the need for a lead scoring model that could guarantee the quality of a delivered lead and improve the conversion rate of the clients. That model is already being used in the USA and UK. With this in mind, I went to see Kernel Analytics, a consultancy firm specialised in algorithms and I convinced them to develop Lead Ratings.
We have existed for almost two years and we have never stopped growing. We have clients in the Education sector, E-commerce, Microcredit, Travel, Call-Centre, and digital portals. Last year we created a new product, Click Ratings, which predicts the conversion rate of a visitor based on their activity on your website.
Our goal is to consolidate our position in the Spanish market, to integrate our product with other software (CRM, Market automation,…), and to expand internationally. In addition to the resources we are generating, we have obtained finance from Banco Sabadell and ENISA, which helps us with our growth.
What is the main differential value of your business?
The creation of a software capable of predicting the conversion rate in real-time while using only very little information. We are focused on anonymous users and we do it with a SaaS model that is easily integrated into any software.
How do companies benefit from your lead scoring software?
Lead Ratings improves the conversion rate and reduces the customer acquisition cost of all of our clients. The utilisation of lead scoring allows the clients to focus on the best leads, maximise their retargeting, identify the profiles with the highest probability of a sale, and not invest in leads that are unlikely to convert. In our last business case, our client increased their conversion rate by 31% and reduced their sales cost by 24%.
Do you think that companies value the benefit that this type of tool can offer them?
Without a doubt. Companies are always looking to increase sales and Lead Ratings helps them to accomplish that.
Which role does online marketing play in your strategies? Which kind of actions have you done?
We manage our customer engagement through social media, more specifically, Linkedin, and the truth is that the results are very good.
Where do you see the future of online marketing in the next years? Which tools will we see and use that we do not know yet?
In my opinion, online marketing will slowly introduce elements of intelligence that will allow companies to identify its user profile more clearly and interact with them long before they become a client. I think that we will increasingly see a more personalised interaction. The marketing model based only on volume and efficiency has to give way to a model based on intelligence.