Revenue.io > Case Studies > Top Financial Services Company Boosts Successful Calls by 43% with Revenue.io

Top Financial Services Company Boosts Successful Calls by 43% with Revenue.io

Technology Category

Drones - Flight & Control Systems

Applicable Industries

Buildings

Applicable Functions

Sales & Marketing

About The Customer

The customer in this case study is a premier lender for multifamily and investment property loans in the nation. They have a business development team that was facing a challenge due to a drop in the quality of conversations, likely influenced by macroeconomic factors such as rising interest rates. The team was witnessing a 5.4% drop in their success rate over a four-month period, indicating a need for change. The lender is committed to improving their operations and was open to collaborating with Revenue.io to identify and implement a solution to their challenge.

The Challenge

A leading lender for multifamily and investment property loans in the nation was facing a significant challenge. Their business development team was witnessing a decline in the quality of conversations, which was likely due to macroeconomic factors such as rising interest rates. Over a span of four months, the team saw a 5.4% drop in their success rate, which was measured by the ratio of calls with positive dispositions to total conversations. The declining success rate indicated that a change was necessary to improve the situation.

The Solution

To address the challenge, the customer success team at Revenue.io collaborated with the inside sales leaders of the lender to identify the differentiating factors in successful calls made by top performers. They used conversation data to filter calls that had been negatively dispositioned, which helped them understand what the representatives were saying during unsuccessful and successful calls. The Conversation Intelligence reporting revealed that representatives were using product and feature-heavy language early in the conversation during unsuccessful calls, while discovery occurred later. However, in successful calls, key discovery phrases were used earlier, and product and feature discussions happened later. Based on these insights, Revenue.io's success team and the lender's business leadership set up a two-week pilot program. This program used real-time conversation guidance to improve outcomes, with time-based notifications reminding representatives when to go into discovery, switch to an 'advise stage', and wrap up the call.

Operational Impact

The implementation of the pilot program brought about significant improvements in the operations of the business development team. By using AI-powered conversation guidance, the representatives were able to better structure their calls, leading to more successful outcomes. The time-based notifications helped them to initiate discovery early in the call, switch to an 'advise stage' at the right time, and wrap up the call effectively. This not only improved the success rate of the calls but also likely enhanced the overall customer experience. The positive results from the pilot program indicate the potential for further improvements in the team's operations and success rate with the continued use of the AI-powered conversation guidance.

Quantitative Benefit