The success behind our Call Center’s Case
Higher revenue per campaign using the right algorithm
Let’s say a financial entity wants to be able to predict the revenue it gets from every client in order to prioritize the calls of those who are most valuable, while also increasing revenues per campaign. Contesta succeeded in doing so in a campaign for one of its clients, with the help of Lead Ratings.
Contesta Teleservicios did a massive customer retention campaign for a financial entity and realized that profitability per client was very variable.
“Based on this evidence, Contesta hired our services with the aim to create an algorithm capable of predicting revenue per each client and through it prioritize the calls to those who were most valuable for the entity, while at the same time increasing revenues per campaign”, says Ricard Bonastre, CEO & co-founder de Lead Ratings.
The aim of the campaign
The campaign’s objective was to do upselling and cross-selling to the current clients of the entity. The average amount of clients was around 90.000, the campaign was monthly, using a 100% variable remuneration model, and through a per sale commission.
After several months conducting the campaign, Contesta was able to determine the variability of per client profit, and thus the variability of its campaign’s revenues, which depended on each month’s client base nature. In this case, this outsourcer clearly benefited from doing a previous classification of its data base in terms of revenues.
Such classification has two main impacts:
> An increase in the commission for the overall campaign revenues
> A decrease in the opportunity cost generated by the clients who are not contacted
The algorithm’s aim
In order to materialize these impacts, Contesta started collaborating with Lead Ratings on June of last year. Its main objective was to be able to classify clients in estimated revenues to prioritize the calls through it.
The key of its success was Lead Ratings’ software, which is based on predictive algorithms that assign a classification (rating) to each lead in terms of its probability of conversion. This way, we develop a specific algorithm for each client, taking into account the results we get when analyzing its data history.
In Contesta’s case, after analyzing its campaigns for the financial entity at stake, we developed a predictive algorithm capable of classifying the clients from the data base in terms of the expected average revenues.
The algorithm’s solution
The algorithm determined five client rating categories:
Contesta’s improvement actions
Taking into account the established rating, Contesta put in place four improvements in the operations of the campaign it was conducting:
- Organizing the clients’ data base in terms of the rating in advance
- Prioritizing and distributing the calls per rating
- Applying the corresponding effort on the contact according to the rating
- Reducing the necessary monthly hours to achieve the objectives of production and of the probability of establishing the contact.
Once these improvements were included in the campaign, the results shortly came up. After no more than three months using the algorithm developed by Lead Ratings, the improvements could not be left unnoticed.
“Revenues per campaign increased by 31%, while prioritizing calls permitted a reduction of 29% in call costs since no calls were made to clients with a low or null chance of revenues” Ricard Bonastre
The Advantages of Lead Ratings Scoring
In view of this success, the Lead Ratings team emphasizes the advantages of its practices on call centers:
a) Increases the conversion of your operations by prioritizing your calls.
b) Reduces the cost of your operations.
c) Classifies records at real time, and thus is applicable to both inbound and outbound campaigns.
d) Develops a specific algorithm for each campaign and is able to learn from it.
e) It is a SaaS solutions, easily integrated to any CRM or automatic dialing software.
f) Has no market restrictions. It can work with international leads.
Please, Contact Us if you wish that your Call Center enjoy the benefits of Lead Ratings.