The Problem
workvivo encountered multifaceted challenges in their lead management, primarily stemming from a lack of prioritization for leads that did not schedule meetings. Despite having a double opt-in form in place, the existing system failed to address the nearly 50% of leads that did not book a meeting but still presented valuable contact information.
Challenges Encountered:
- Lead Prioritization Issues: The existing system was biased towards leads that booked meetings, neglecting a substantial percentage of potentially qualified leads.
- Missed Opportunities: Failure to engage leads that did not book meetings resulted in missed opportunities for vital discovery calls and potential deals.
Lead Characteristics:
- Double Opt-in Form: Despite the use of a double opt-in form, the system lacked a mechanism to effectively prioritize leads based on their potential.
The Solution
RevPartners implemented a comprehensive solution to address the identified challenges and overhaul workvivo's lead management system.
-
1
Infrastructure Enhancement:
- Chili Piper Integration: The introduction of Chili Piper infrastructure played a pivotal role in enhancing lead tracking capabilities.
- New Field Additions: Additional fields were introduced to capture crucial lead information, including date of meeting, time zone, and sequence enrollment.
-
2
Introduction of Lead Status Field
- Automated Categorization: The lead status field allowed for dynamic categorization based on engagement status.
- Categories Defined: Leads were categorized as "Replied" if they booked meetings, "New" if they required outreach, and "Working" if they were actively engaged in the process.
-
3
Workflow Automation:
- Chili Piper and HubSpot Integration: The entire workflow, including the Miro board process, was automated using Chili Piper and HubSpot.
- Streamlined Operations: The Miro board process was meticulously mapped out to ensure a seamless and efficient workflow.
Impact
workvivo experienced substantial improvements across key metrics as a result of the implementation of the new lead management system.
Follow-Up Rate:
- Before: A concerning 15% of leads were never followed up with.
- After: A notable improvement with 0% of leads left unattended.
Conversion Rates:
- Before: A mere 5% of leads not booking a meeting converted to a deal.
- After: A remarkable increase to 24% conversion rate for leads not booking meetings.
Rescheduling No-Shows:
- Before: Only 10% of leads no-showing the first call were successfully rescheduled.
- After: A substantial improvement, with 38% of leads no-showing the first call successfully rescheduled.
Overall Lead-to-Deal Conversion:
- A significant 55% of leads that booked a meeting transformed into qualified deals.
Pipeline Growth:
- A noteworthy 70% increase in pipeline generated by the SDR team month over month highlighted the system's effectiveness.
Improved Lead Tracking:
- Automation Benefits: The automation facilitated better visibility into the conversion rate between different outreach stages.
- Reduction in Lead Follow Up Time: The revamped system led to a drastic reduction in the number of leads labeled as "New," ensuring more comprehensive lead management.
Voice of the Customer
RevPartners is at Your Service
Does your revenue engine need built, fine-tuned, or supercharged?
To learn more about how to continuously improve operational efficiency and identify the gaps in your customer experiences, see what RevPartners can do for you!