Spring Venture Group Enhances Sales Efficiency with Conversica
Technology Category
- Infrastructure as a Service (IaaS) - Virtual Private Cloud
- Wearables - Virtual Reality Glasses, Headsets & Controllers
Applicable Industries
- Cities & Municipalities
- Finance & Insurance
Applicable Functions
- Procurement
- Sales & Marketing
Use Cases
- Inventory Management
- Usage-Based Insurance
Services
- System Integration
About The Customer
Spring Venture Group is an innovative insurance brokerage located in Kansas City, MO. The company specializes in the sale of health and life insurance, including supplemental Medicare insurance plans. By comparison shopping plans across 25 different carriers, Spring Venture Group is able to find its customers the best policy rates. The company is always looking for ways to increase the efficiency of its sales teams, especially through the use of sales automation solutions. It generates leads from multiple sources, including direct mail, demand generation campaigns, its websites, and by bidding on leads for purchase from third-party vendors.
The Challenge
Spring Venture Group, a leading independent insurance brokerage based in Kansas City, MO, was seeking ways to enhance the efficiency of its sales teams and reduce the cost per lead acquisition. The company generates leads from various sources such as direct mail, demand generation campaigns, its websites, and by bidding on leads for purchase from third-party vendors. The vice president of marketing’s primary challenge was to determine the number of leads marketing needed to drive to sales to meet their goals without increasing the cost per acquisition (CPA). The company was already using sales automation solutions like Salesforce, but there was a need for a more efficient solution to manage the sales conversion process.
The Solution
Spring Venture Group implemented Conversica, an automated sales conversion management software, in early 2014. The software was integrated with Salesforce and used a virtual persona named Mary to contact, engage, and qualify leads that the sales teams were unable to reach after three days or five to seven dials. Once Mary received confirmation of intent from a lead, the Conversica application sent an alert email to a sales agent who would then follow up on the hot lead. The Agent Scorecard, a part of Conversica’s integration with Salesforce, helped manage the sales teams and make informed decisions on which agents should work on specific campaigns. The company also used metrics from Conversica to evaluate lead sources and identify the best and worst performers.
Operational Impact
Quantitative Benefit
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