Like many startups, live sales company LeadChat faced the dilemma of growing quickly with limited resources. But instead of deciding strategy with gut feeling, the company used a data trick that anyone could use.
Leadchat powers the little “live chat” windows you see on many sites dotted through the web. Its team of salespeople can find themselves selling a lot of different things simultaneously, from physical goods, internet services through to education.
As Leadchat CEO Gary Tramer explained at Performance Insights, the company needed to target its salespeople at the customers with the most potential. For Leadchat, that meant customers that had the highest lifetime value, and who required the least engagement.
The company began by plotting its existing customers, trying to find if there were any commonalities between them. Industry, position, technologies used, time, location; these were all factors it considered. Salespeople would be encouraged to spend more time and resources on those customers, achieving a higher return for their time and effort.
Targeting its best customers saw Leadchat achieve a 78% close rate on sales and lower churn rate. All using a data trick that didn’t require a PhD.
You can see Gary Tramer’s entire presentation from Performance Insights below, which we’ve republished in full.
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