We did this exciting project on Leads Optimisation from social media. A 160-crore revenue company relies heavily on leads generated from ads on Facebook.
The current process is to divide the 2000 odd leads received in a month between the 50 odd centres in 12 cities.
Each centre does tele calling and follow up to get these leads to walking into the centre. Once the lead comes into the centre and becomes a walk-in, the centre coordinator works on converting them to enrol.
This was a simple and well understood process in the organization.
The organisation wants to take the enrolment up from 10 to 20 per centre per month. They were willing to increase the spend on social media for 3 months but not willing to increase the manpower in the centres.
The process of helping then become more efficient involved analysing the Leads data and the Enrolment data for the last 3 months.
At the end of the analysis our team was able to clearly understand which factors what the Drivers of enrolment. Some factors like knowing an ex-student who had got placed from the institute and having a clear understanding of the fee payment turned out to be highly correlated to a lead becoming a final enrolment.
We helped the customer stage data gathering from the leads to prioritize collection of information around contractability and the factors which were related to final enrolment. This enabled us to create a small decision matrix which divided all the leads into 2 parts:
- Urgent leads : these leads had high probability off turning into enrolments and the teams were asked to prioritize the calling and follow up for these
- Normal leads : these leads had low probability of turning into enrolments
The tele calling teams started prioritizing the calling on Urgent leads. This led to the enrolment ratio increasing from 5% to 9% for the urgent leads. For the normal leads the enrolment ratio was at 2%.
- An increase in spends on ads in Facebook took the number of Leads to increase from ~ 2000 to 4000.
- The decision engine segmented out 2000 Urgent leads (keeping tele calling volumes acceptable levels.)
- The enrolments per 2000 leads moved from 5% to 9%.
COVID-19 has forced many businesses to move into Digital Leads Generation. Optimising the leads to focus on the Urgent ones is a good strategy to improve ROI.
We are Pexitics (email@example.com / +91 7349 662321).