Pipedrive today announced LeadBooster(™), a conversational bot that instantly engages web visitors, qualifies prospects to identify hot leads, and helps book meetings so salespeople can close deals faster. The first offering in a suite of lead management tools, LeadBooster is an add-on to Pipedrive, the first CRM platform built from the salesperson’s point of view. Over the last 60 days, more than 11,000 existing Pipedrive customers have tested LeadBooster in private beta. Today, LeadBooster is available to all existing and new Pipedrive customers at no charge in a public beta.
“When it comes to web visitors, slow response times can kill a potential deal,” said Vinay Ramani, Chief Product Officer of Pipedrive. “But responding quickly is not enough. To make the best use of their time, salespeople need a fast, efficient way to qualify leads. What is the nature of a prospect’s interest, their time frame, and are they a decision maker? LeadBooster’s advanced algorithms rate prospects using a customised set of criteria and offer to schedule a phone call for highly qualified leads so they get fast attention—ending the back and forth communication that can also slow or kill deals.”
“Automating initial contact with web visitors to qualify them, and directing just qualified leads to salespeople, ensures that businesses respond quickly but that sales teams don’t waste time pursuing unqualified leads,” added Ramani.
The importance of fast response times to web visitors sales success was underscored in a 2011 study published in Harvard Business Review. More than 2,200 U.S. companies were sent a web-generated test lead and their response times were measured. Most companies failed to respond nearly fast enough. While 37 per cent responded within an hour, the average response time was 42 hours and 23 per cent never responded at all. The study also showed that firms that tried to contact potential customers within an hour of receiving a query were nearly seven times more likely to have a meaningful conversation as those that tried to contact a prospect even an hour later—and more than 60 times more likely than companies that waited 24 hours or more.
A follow-on study in 2016 of more than 4,700 leads by the same researchers found that the optimal time to respond to a web lead is within 5 minutes and that even a short delay can result in a lost lead. The study also found that the chances of being able to contact and qualify a prospect dropped 10 times after just the first 5 minutes.
According to a 2018 Pipedrive survey of 1,636 sales professionals, including sales representatives, sales managers and VPs of Sales, half of sales professionals said they receive leads via the web.
How LeadBooster Works
With speed being paramount when responding to web leads, LeadBooster ensures that the moment a web visitor reaches a company’s website, they are presented with a customised chat box that greets them and asks a question with up five multiple choice answers. Depending on the answer, LeadBooster asks follow-up questions with new responses or offers information about the company, contact forms, and/or calendar availability for expediting a phone call with a salesperson. Visitors are then presented with a customised closing message. Chat boxes can be included on any page of a company’s website, with customisation features providing additional context depending on the content of the page.
Once qualified, LeadBooster automatically enters prospects into Pipedrive as a “deal.” In Pipedrive, the sales process for each lead is broken down into everyday tasks and essential but repetitive tasks are automated. These capabilities let salespeople stay focused on more meaningful interactions that move deals forward. The progress of every deal in Pipedrive is shown to salespeople and sales managers in visualisations.
“LeadBooster is a key component of a comprehensive Pipedrive lead management suite,” said Ramani. “Our intention is to provide additional software that complements LeadBooster’s lead capture, qualification, and scheduling capabilities. Features will include automatic and instantaneous routing of leads to the appropriate salespeople and a way to store and manage leads that are not rated as ‘hot’ but that could still be valuable opportunities at a future time.”
Ramani added, “With LeadBooster, sales managers can be assured their companies never miss an opportunity to close the next big deal.”