Conversica > Case Studies > KnowledgeVision Enhances Lead Conversion with Conversica's AI Solution

KnowledgeVision Enhances Lead Conversion with Conversica's AI Solution

Technology Category

Cybersecurity & Privacy - Identity & Authentication Management

Applicable Industries

Education
Telecommunications

Applicable Functions

Sales & Marketing

Use Cases

Time Sensitive Networking

Services

Training

About The Customer

KnowledgeVision is a company that is revolutionizing the online business presentation landscape. Its main products, KVStudio and Knovio, provide an innovative way to transform PowerPoint presentations into multimedia experiences with video and audio narration. These products are used for a variety of purposes including training, marketing, sales, investor relations, and communications. The company has a strong ability to capture prospects, as evidenced by its 75,000 record database in Marketo. However, it was facing challenges in effectively managing and converting these leads, leading to the integration of Conversica's AI solution.

The Challenge

KnowledgeVision, a company that is reinventing online business presentations, was facing a significant challenge in managing its inbound leads. Despite successfully generating a large number of leads, the company lacked the resources to effectively engage with them all. This resulted in a situation where Business Development Representatives (BDRs) had to selectively choose who to contact, leaving many potential customers unattended. This was a major concern for the company as each lead represented a potential sale and had cost money to acquire. The company had a database of 75,000 records in Marketo, indicating a strong ability to capture prospects, but a weak conversion rate to sales. The challenge was to find a way to engage with every single lead to determine their interest and potential for conversion.

The Solution

To address this challenge, KnowledgeVision integrated Conversica, an automated marketing and sales conversion management software, with its Marketo instance. This software, named Caitlyn, was assigned to handle all new inbound leads, engaging them in a two-way human conversation to determine their interest and intent. The responses and statuses were then passed to Marketo, which automatically synced with Salesforce, allowing the company to keep track of the leads. Caitlyn also helped reengage old leads who had previously expressed interest but were not ready to buy at the time. This allowed the company to unearth large opportunities that would have otherwise remained dormant. Furthermore, the data provided by Conversica was used to make strategic marketing decisions, such as identifying weak target markets and redirecting future programs and spending to better-converting markets.

Operational Impact

The integration of Conversica's AI solution has significantly improved KnowledgeVision's lead management and conversion process. By automating the initial contact and qualification of leads, the company has been able to make its sales team more efficient, freeing up their time to focus on specific outbound campaigns. The solution has also enabled the company to reengage with old leads, uncovering large opportunities that would have otherwise been missed. Furthermore, the data provided by the solution has been instrumental in making strategic marketing decisions, allowing the company to identify weak target markets and redirect its efforts towards more promising ones. This has not only improved the company's conversion rate but also its overall marketing strategy.

Quantitative Benefit

Caitlyn connects with approximately 600 new leads per month with an 8% 'hot lead' rate.
12 major accounts have reengaged due to Caitlyn contacting old leads.
1 major healthcare provider has already moved to Stage 90.