A sales lab can be a challenge for the team and make a big difference to the company’s revenue and sales.
The sales lab concept consists of testing different ways of capturing new leads, making combinations of channels, being constantly in a process of A/B Testing in order to find the best conversion to sales.
In other words, it is not a process with a beginning and an end, but rather a work methodology that seeks constant improvement, short and medium-term results and focuses on the tactical strategy of sales projects.
This can build a mechanism for developing new ideas, testing new messages, which can even lead to new product approaches based on user needs that have been discovered, or highlighting previously neglected benefits.
Although the word “laboratory” may cause some uncertainty, it is just the opposite. Thanks to the information provided by the user and the needs detected in the clients, we will be able to establish a success model that shows each person different information according to certain variables that we select.
This information can be: showing you the form of contact that has proven to work best, the messages that best fit your user profile and the product offer that can depend on many variables: geographic area, interests, navigation device… All this with the aim of constantly challenging the initial approach and making technology work at the service of the business.
Let’s imagine that an insurance company aims to increase its percentage of car insurance sales from the website, for this we will apply the following:
1. Integración de nuevos canales tales como mensajería vía WhatsApp, número de teléfono dinámico para contactar, un formulario de contacto, entre otros.
2. We will apply technology to optimize granularity.
3. We will coordinate directly with the advertising agency the company works with to avoid cost inflation.
4. We add budget to the client’s budget to double the chances of obtaining more leads.
After all these steps, there will be a first “batch” of leads that will indicate the optimal characteristics that a customer should have to convert to a sale or what we should offer according to the information we have about him/her.
After having all the above mentioned we will be able to implement and take advantage of the insights obtained with the sales lab for the campaigns and create a fixed attribution model.
What is the purpose of creating an attribution model?
1. Acelerar la captación y conversión digital de hipotecas gracias a la obtención de leads de calidad.
2. Unificar canales y métricas y generar eficiencias.
3. Diseñar un modelo escalable automatizado
At Global ROI Hub we have developed a results-driven sales model, specifically designed to increase sales by relying on technology. Thanks to working with the concept of sales laboratory we can nurture this model with the information collected on the lead to obtain better conversions to sales, greater permanence in the brand and a higher average ticket.
We are already applying this method in EMEA and Latin America in multinational companies in the telco, energy, insurance and security sectors, among others, with excellent measurable and demonstrable results.
What are you waiting for to implement this sales laboratory in your company? Contact us for more information.
Originally published in our Global ROI Hub newsletter.