Business Challenges

Inconsistent processes for lead conversion across loan officers can result in difficulties in tracking and analyzing conversion times. To provide a report on the time to convert a lead, it’s important to consider several factors that can influence the conversion process.

  • Lead Sources: When these sources are considered, there should be an efficient approach to analyse the variability among these sources. Identify any patterns or trends in the data. For example, are there certain channels or lead sources that consistently result in quicker conversions? Are there common factors contributing to longer conversion times?
  • Conversion Time: Measure the time from the first sales outreach to the actual conversion. This involves tracking the entire sales process, from initial interest to closing the deal.
  • Loan officer feedback: Gathering feedback from loan officers who converted leads in less time to understand their perspective on the sales process can provide valuable insights into areas for improvement.

 

Our Solution

  • We utilized Salesforce reporting and analytics tools to create customized reports and dashboards that provide insights into lead conversion times.
  • We calculated the Days to Convert based on the Created date ad Converted date of the lead.
  • The information was then grouped based on lead owner.
  •  We suggested to regularly review and analyse these reports. Based on the analysis, we provided recommendations for optimizing the lead conversion process.
  • This could involve refining lead qualification criteria, streamlining communication processes, or investing in more effective lead nurturing strategies.

Results

Report view

Dashboard view