Machine Learning Based Lead Scoring of CRM Prospects For Financial Companies
Our Data Science team has built a proprietary framework with which we monitor customers’ buying habits, online activity and other behavioral attributes and interpret these metrics to come up with predictive lead scores. Here’s how we do it:
1. We start with what you know, leveraging CRM data
You probably know some things about your leads: which campaigns they’ve seen, where they clicked and what they filled on your form. We leverage this valuable data to start building your predictive model. Further, if they have accounts with you in other forms, you know their persona in terms of how much disposable income they may have. Or what their age is. And what their relative outlook towards life is. If you don’t, we’ll write profiling algorithms for you to find just that!
Your marketing and content efforts may yield a large quantity of leads, but unfortunately, the vast majority of them will not end up as buyers. While marketing automation platforms help you collect more behavioral information than ever, it’s still hard to identify likely buyers. Your marketing and CRM data can deliver valuable insights provided the following major challenges are addressed:
- Limited number of variables: the average company CRM has only 10 demographic variables, which typically include Name, Location, Industry, Revenue and Number of Employees.
- Messy data: CRM data comes from multiple sources, making the same data points appear in various formats.
- Incomplete/Inaccurate data: most marketers collect limited information via web forms to reduce drop rates at landing pages. As a result, records have only partial data, which is often inaccurate.
- Outdated records: marketing databases degrade quickly.
We’ve developed sophisticated algorithms for cleansing and completing your data. The result of this process is a highly accurate and standardized database of your records, which then becomes a solid foundation for predictive lead scoring modeling.
2. We add what we know
We collect and continuously update data points on every single lead from the Internet. This information includes your customers’ social media posts, professional networks, government records that are public etc. This is matched with what we have on the database and associations of past behavior of similarly matched profiles. The result – a 360-degree profile of each lead in your database.
Everyone leaves a digital footprint that can be analyzed to predict their tendency to buy products and services. We monitor the online behavior of several tens-of-millions of prospects and decision-makers.
We mine data from the Web and keep an up-to-date database containing thousands of indicators that can predict buying behavior. When combined with your CRM data, it yields a richer and insightful profile of prospects and customers alike.
3. Predictive Analytics with Machine Learning
We take your data, our own data, and your highest value leads and uses Machine Learning to find your customers’ DNA. The set of indicators that make them unique compared to all of the other leads in your database. The result is a set of indicators and a scoring model that can predict the likelihood to convert. Best of all, you not only know whether they’ll convert for a given product, you’ll also know what’s the product the lead is most likely to convert for!
Predictive Analytics help you identify likely buyers/conversions in your sales databases. We leverage your highest value customer data and crunch massive amounts of data in order to find the combination of Marketing Indicators or features that make your buyers unique as compared to all other leads in your database. The result of this analysis is a set of indicators and a scoring model that can predict the likelihood to convert.
4. Predictive Lead Scoring
Our Predictive Lead Scoring framework leverages your customers’ DNA to assess the likelihood of leads in your database to become customers. We use our unique Predictive Scoring model to score your accounts as well as every lead that enters your funnel in your marketing and sales systems. This has direct impact on your revenue — now you know which leads to send directly to Sales and which ones to keep nurturing.
Identify the golden nuggets in your marketing database with Predictive Lead Scoring. Our comprehensive application combines CRM data, online Marketing Indicators and Machine Learning to help you find and act on the leads that are most likely to buy and lets you boost sales and close more deals.