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Form vs Chatbots - The Process of Routing, Timing and Conversion Rate Optimization
The document discusses the advantages of live chat over traditional sales funnels, emphasizing improved customer engagement and conversion rates. It highlights statistics indicating that live chat can lead to a 19% increase in sales opportunities and better qualification processes for leads. Key considerations for implementing a live chat funnel include operator roles, timely interactions, and the need for specialized onboarding and management strategies.
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Similar to Form vs Chatbots - The Process of Routing, Timing and Conversion Rate Optimization
Form vs Chatbots - The Process of Routing, Timing and Conversion Rate Optimization
- 1. Form vs LiveChat The Process of Routing,Timing and Conversion Rate Optimization
- 2. 15+ years in SalesOperations
- 3.
- 4. What we’ll cover ●Traditional MQL vs Live Chat Funnel ● Considerations for enabling and managing a Live Chat Funnel
- 5. Traditional vs. LiveChat Funnel
- 6. “For every $92spent acquiring customers, only $1 is spent converting them.” - Econsultancy
- 7. Visitor Prospects Lead MQLs SQLs Opportunity Customer Traditional Funnel SQLs Opportunity Customer LiveChat Visitors, Prospects, Leads, MQL Live Chat Funnel
- 8. 0 2000 4000 6000 8000 MQL SQL OpptyWon 0 3000 6000 9000 12000 Chat Engaged Chat SQL Oppty Won Traditional Funnel Live Chat Funnel Leads Lead-SQL Won # Total MQL 10,000 1.92% 192 MQL LIVE CHAT 5,000 5,000 1.92% 2.64% 228 19% increase in Won # through also using a live chat funnel. 8% 10% 2.0% 2.6%
- 9. 0 2000 4000 6000 8000 MQL SQL OpptyWon 0 3000 6000 9000 12000 Chat Engaged Chat SQL Oppty Won Traditional Funnel Live Chat Funnel 19% increase in Won # through also using a live chat funnel. 8% 10% 2.0% 2.6% More timely and personal leads to higher connect rates Higher value engagement improves Qualification Faster and earlier Disqualification
- 10. Higher ROI Capture leadson your site in real-time Improved Conversions Earlier and more effective qualification Velocity First response time TOPO: It takes 18 dials to connect with a single buyer, <24% of sales emails are opened American Marketing Association: Customers who use live chat are 3x more likely to buy Hubspot: For a lead generated online, waiting just five minutes will reduce the likelihood of contact by 10x factor Personalization InsideSales.com: 50% of buyers choose the vendor that responds first Customer Centric Give them a choice to have a chat Gartner: 71% of buyers would typically initiate contact or accept a contact request with a new provider during the exploration or early evaluation streams of the buying cycle Benefits of live chat for sales teams The ultimate 1:1 targeting
- 11. Considerations for a LiveChat Funnel
- 12. Qualification • Operator • Salesvs. Support • Data Enrichment • Data in CRM Routing • SDR • Team Inbox • Account Executive • Content/Nurture
- 13. Hi there, Thanksfor taking a look at our solution. If you have any questions let me know. Do you provide a solution for global companies? TYes, we have many global customers. Just curious, how were are looking to use our solution? To better manage interactions and communication with our global teams. Gotcha, thanks for the insights! Sounds like we can help.Just so that I can have more context, what solutions are you currently using? SDR SDR SDR Prospect Prospect
- 14. Functionality and howother globals customers use the solution. Prospect Great, what is your email so I can confirm? Also, is there anything specific that you are looking to learn tomorrow so I can brief Julie? SDR Yes, that time is good. Prospect Right. I think that it would make sense to loop in someone from our accounts team to share best practices? Looks like she is open tomorrow at 2:30, can we schedule that time? Nothing really outside of email and an internal wiki. SDR Prospect Great, thank you again! I’ll let her know. I’ll send the meeting confirmation in a few minutes. SDR
- 15. “Be smart aboutthe questions you ask, talk to the human on the other end like a human.” “Make it conversational versus asking yes/no questions.” “Provide context around why you may be asking what your asking.” “Know when to stop!”
- 16. SDR Follow-up Take somequestions offline and respond at a later date Loop in AE Real-time discovery meeting Schedule Meeting Book meeting on calendar prior to chat ending Not Sales Ready Send content, move to Nurture track Dropped Chat Follow up email, move to SDR Cadence/Sequence Close the Deal Self-Service or Real-Time Not Qualified Send warm thank you, we might not be a good fit. Conversation Resolution
- 17. Jun Aug MQL 10,00010,500 MQL/SDR 350 350 SDRs Required 29 30 Jun Aug Engaged Chats 10,000 10,500 Engaged Chat/SDR 400 400 SDRs Required 25 26 SDR Capacity SDRs can handle 10% - 20% more Live-Chat Lead per month than MQLs Higher Conversion Rates for Live-Chat At least 50% of Live-Chat leads would have been MQLs Control Flow Traditional Funnel Live Chat Funnel
- 18. Deeper Product Knowledge Chats oftenstart with a product question SDR Skills Understanding of the Competition Questions are asked that may typically not be asked until later in a traditional funnel Managing Live Chats Control the conversation to maximize outcome and productively move to the next steps How to have Live Chats Different than email and phone. Scripts, best-practices, professionalism Onboarding and Enablement Live Chat requires its own onboarding, enablement and management coaching
- 19. How to Managea Live Channel. Lead Prioritization Manage where and how SDRs should manage their time and what lead to work next KPIs and Dashboards Live-Chat should feel live. Use KPIs and Dashboards to manage flow and performance for each channel Onboarding and Enablement Live Chat requires its own onboarding, enablement and management coaching Scrips & Content Live-Chat needs its own set of scripts, talking points, battlecards and content What does a manager need to think about?
- 20.
- 21. Visitor Prospects Lead MQLs SQLs Opportunity Customer Traditional Funnel SQLs Opportunity Customer LiveChat Visitors, Prospects, Leads, MQL Live Chat Funnel
- 22. Higher ROI Capture Leadson your site in real-time when they are there Improved Conversions Earlier qualification, with an improved experience Velocity First Response Time, Lead to Opportunity. TOPO: It takes 18 dials to connect with a single buyer, <24% of sales emails are opened American Marketing Association: Customers who use live chat are 3x more likely to buy Hubspot: For a lead generated online, waiting just five minutes will reduce the likelihood of contact by 10x factor Personalization The ultimate 1:1 targeting in real-time InsideSales.com: 50% of buyers choose the vendor that responds first Customer Centric Give them the option and choice to have a Chat Gartner: 71% of buyers would typically initiate contact or accept a contact request with a new provider during the exploration or early evaluation streams of the buying cycle
- 23. Thanks! Revenue Summit Booth3 jeffery.serlin@intercom.io www.linkedin.com/in/jeffreyserlin