![]() ![]() Cody mentioned the team was only getting a 20% engagement rate using these methods to convert prospects to attend training. On top of the phone calls, the StudySoup team would also send email reminders. With these limitations, their team of 30 agents could only speak with around 3,600 note-takers each month. Secondly, the amount of time agents spent dialing, talking with a prospect (when able to reach them), and entering their notes into the internal CRM system took way too long to run a successful operation. They found it difficult to get engagement or responses, in general, using phone calls. Their customer demographic of 18-24 year old college students rarely picked up the phone (not surprising as the industry average answer rate for cold calls is sub-10%). The first was actually connecting with a prospective notetaker. As you can imagine, these agents ran into several hurdles. Each agent’s primary job was to pick up the phone and make phone calls to guide prospective notetakers through the funnel. When StudySoup began making the transition to Sonar, they had 30 sales agents employed. ![]() When that is completed, the last conversion point is to have a prospect upload their set of notes for the classes they are taking so StudySoup customers can utilize them for their courses as well. Nevertheless, after a prospect has completed their training, StudySoup has them fill out their class schedule and exam dates. Oftentimes, a prospect commits to a meeting but doesn’t actually show up. This is where StudySoup was struggling in the conversion department. Once the prospect has booked an appointment, the next conversion point is to have them attend an online training session. StudySoup provides a significant amount of training upfront to make ensure their expert note takers are providing the best content for their marketplace. From there, the first conversion event is getting the prospect to book an online training session. ![]() In this form, the prospect provides personal information such as their name, email address, phone number, and school they attend. In their case, it starts with a prospective note taker filling out a form on their landing page. StudySoup has a funnel common to most companies. Not only has StudySoup successfully scaled it's process to convert leads, they have since expanded their use of mobile messaging to many other touch points along their customer journey.īefore we take a look at where StudySoup is now, it is important to look at what was being done before they made the change to mobile messaging. ![]() To compensate, they were resorting to expensive and time- consuming phone calls to each of their prospects, hindering their scalability. While the team had a well-defined funnel, they were struggling to pull prospects through the middle stages with email reminders alone. StudySoup initially looked at using SMS to automate and scale their lead conversion processes. They have a robust training program that teaches their customers how to be successful and earn as much money as possible on their notes, thereby increasing the “supply” of great notes. The marketplace enables successful students to make money off their notes while helping their peers succeed. StudySoup is a peer-to-peer online learning marketplace where students can sell their class notes, study guides, and other course materials to their peers. In this case study, we spoke with Cody Eliason, the Chief Operating Officer at StudySoup to learn more about how they increased their conversion rate by 4x. Our partners leverage Sonar to engage with consumers, convert more leads, and ultimately drive revenue. Mobile messaging is a powerful channel that enables companies to create personal relationships with their customers. ![]()
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