New mobile apps to keep an eye on
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What new social media mobile apps are available in 2023?
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Use new social media apps as marketing funnels
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Try out Twitter Spaces or Clubhouse on iPhone
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What app are you currently experimenting on?
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I worked at a large bank in Hong Kong in 2008 when the financial crisis hit its peak.
And while today doesn't feel nearly as desperate as those times, companies are cutting their technology stack, laying people off, and expecting employees to take on more responsibility.
On top of this, many businesses have been challenged to build a viable revenue model for the future that considers their entire customer journey–everything from the first interaction on digital channels all the way through getting customers to become evangelists of their organization.
Why AI Lead Scoring?
And while times are more challenging, they have never been more exciting!
AI is opening up so many possibilities that weren't available to us before and is revolutionizing the way we work.
Lead scoring is one of those areas that is being revolutionized with the recent developments in AI and is a high-impact low-effort solution that companies can implement right away to get results.
"AI-powered lead scoring is a high-impact low-effort solution that companies can implement right away to get results."
What is Lead Scoring?
AI lead scoring is a machine learning algorithm that tracks and evaluates customer data each time they interact with a business.
The AI scoring model uses this data to predict leads that are most likely to convert into sales or customers that will be more profitable.
Think of it as a way of sorting and rating leads and customers based on their past behavior with an organization so that the right people know who they should focus on as early as possible.
With AI, lead scoring can now be built, tested, and deployed in less than a day, allowing companies to create multiple scoring models for the different parts of the customer journey they'd like to focus on.
Benefits of AI Lead Scoring
Companies who have focused their efforts on the right leads have seen an increase of 9%-20% in marketing conversions and a 13%-31% decrease in churn rates by identifying at-risk customers sooner.
In addition to improved results within the customer journey, organizations will also be able to understand the specific drivers that contribute to maximizing their KPIs and reducing the time-to-insights by over 85% in some cases.
Creating Value in Post-Crisis Times
As organizations look for ways to do more with less AI offers an exciting opportunity. AI lead scoring in particular, provides a high-impact low-effort way to generate efficiencies immediately while allowing organizations to continue to innovate across the entire customer journey.
