The client is a major player in health insurance, personal accident policies and general insurance policy provider and having tie-up with more than 6 major insurance companies in the USA for various needs of Students, travelers, US citizens and vehicle owners/rental companies. Operating in a dynamic business ecosystem, the client was facing stiff competition from other local players including in reaching out larger market because of time consuming lead generation and conversion process. In a bid to improve its marketing and customer acquisition endeavors, the company was looking to leverage disruptive technology solutions that can help its decision-making process smarter and client conversion ratio to be higher
The Client contacted Stridely Solutions with a unique requirement of improving the results from its inbound marketing campaigns and lead generations. As the client was operating in a very competitive segment, an innovative strategy had to be devised to tackle the always changing challenges and barriers to growth.
The company was looking to enhance its sales figures by reducing heavily manned marketing efforts and boosting customer acquisition rates. The plan of increasing marketing contribution in the existing sales pipeline came with certain specific objectives in order to overcome stated challenges:
Data Sanitization: The task at hand – improving the marketing endeavors and customer acquisition rates was a strategic challenge for Team Stridely at first. After closely analyzing the current promotions and marketing strategies and planning aligned with the same, Stridely team also observed the lead generation and nurturing efforts. Our team decided that an additional layer above their existing CRM system can be developed instead of replacing or revamping the whole system.
Lead scoring matrix: The whole process of transforming existing endeavors was planned and implemented methodologically. Different predictive lead scoring models were designed and integrated in each of the existing product lines to help the client in identifying ‘intent of buying’. Stridely team and client’s business team came up with a matrix to understand lead qualification and nurturing process being taken up internally and parameters they’d want to focus to classify a lead as most potential one
Custom Application: The fully custom solution was built using .NET Framework and several custom APIs to achieve:
Robotic Process Automation (RPA): An integrated automation was implemented, using RPA to process approx. 250 to 300 leads being received on daily basis through ‘Contact Form’, ‘Quick Inquiry Form’, ‘Know More’, referral portals/sites and through emails.
Analytics and Business Intelligence: A dynamic predictive analytics system was planned for lead scoring and at the same time, data enrichment efforts were taken to increase demand across multiple channels.
Creating a dedicated lead scoring and predictive analytics model for marketing endeavors transformed the entire customer lifecycle. Not only the client was able to better understand its target audience, but there was a substantial decline in redundant data in the existing system.
Based on the insights derived from the lead scoring solution, sales personnel were able to leverage cross-selling and upselling opportunities, improving the bottom lines. The entire lead nurturing process became a highly structured activity that promised better results than before.
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