Every company should always be ready when it comes to contacting their customers, especially if they are the ones who are taking the first step in communication. Whether it is for consumer interest on a product or simply to assist when solving a problem, all incoming contacts from Click to Call, Call me Back and Customer Service to Sales campaigns have the potential to significantly increase the Conversion Rate of the company, so they should be exploited to the maximum.
These campaigns are carried out on contacts who are already aware of the company or product (they might even be already part of the customer base) and for this reason they have a few different characteristics compared to those made on “cold” contact lists.
The contact list of a campaign on hot leads is not bought by a provider but is often created, in real time, through the contact requests made by customers. This affects both the volume of personal data (which could prove to be less than what we would’ve had by buying a cold list), and the amount of data available per single record.
If the contact requests to be recalled, they are put in a line of those to be recontacted and that is processed following the FIFO (First In First Out) rule.
With this method however, the clients real probability to purchase by incoming contacts is not taken into account, with the real risk of losing those who were really willing to buy or upgrade their offer.
The average conversion rate of a “hot” list of prospects ranges between 2% and 20%,” as opposed to that of “cold” lists, which usually ranges between 0.05% and 1%. To get the most out of a campaign like this, you need to be able to close in on the right contacts immediately by cutting down your contacts waiting time in that line of contacts that otherwise would lead to a “rapid cooling” of the lead and the reduction of the customer’s likeliness to buy.
But How?
New developments in cutting-edge technology can predict in real time the probability of each individual incoming contact to make a purchase, so as to put it in a line of recontacts sorted according to the probability of making said purchase. By first contacting those who have a greater propensity to purchase or assigning these leads to the best performing operators, it is possible to maximize the Conversion Rate.