The Institute of Banking & Finance (IBF) is run under a not-for-profit society promoted by The Knowledge Workers’ Group. This banking and finance institution offers degree and diploma education in banking and finance through a technical collaboration with the Gulbarga University of Karnataka government. The institute has been nominated amongst Top 5 emerging management institutes at the Indian Education Congress and has won the prestigious Education Excellence Award for best banking education in 2011 and 2012.
As IBF used multiple channels to generate education leads, the lead volume went up. However, with the increase in number of leads and only an email campaign tool to support the counselling staff, efficient management and nurturing of leads took a backseat. The number of missed opportunities were rising and limited lead activity knowledge didn’t seem to be helping much. After evaluating a few tools, Training Director of IBF, Amit Goyal, tells us why LeadSquared made the cut and how it helped IBF‘s lead management and marketing process.
What is your business about?
We are an education institute offering undergraduate and graduate courses in banking and finance. We acquire 120 students every year – 60 for graduate and 60 for undergraduate. For these courses we receive inquiries from different regions. We have to handle these leads throughout the lead cycle and take them through the various tests, from inquiry to registration to examination, then interview and finally admission.
We use multiple media for lead generation. The online ones are
- Social Media
- Google Adwords
- Third-Party Portals
- Email Campaigns
We also generate leads offline, through
- BPL activities on the ground, and
- Advertisements in newspapers.
Were you using specific tools before LeadSquared?
We were using a mailing application called Campaigner for mailing activities. We were using landing pages but we weren’t using any tool for that.
What challenges did you encounter?
Since we weren’t using any tool for lead management, we were storing all our leads in Excel worksheets. Whenever we ran newspaper ads, we got multiple calls in a short span of time. Let me explain this. Now if 7-8 calls come together in a five minute period, we would miss a lot of leads in that time. LeadSquared came as a great Campaigner alternative. Now, we do not have any missed opportunities. Whenever a leads comes, it is available as a lead activity in LeadSquared. So even if a counsellor misses certain calls, we can see all the calls that have not been answered, we can hear the call conversations and that is how we are able to ensure that every lead is attended to.
Any additional benefits?
Customized Landing Pages: Although we have not used landing pages very extensively in LeadSquared, we were able to generate key insights from the few we used. We have used LeadSquared services to get a custom-designed landing page for ourselves. We run a campaign and we were able to track those leads more closely.
Lead Capture from Telephony: For us, LeadSquared has helped more from our CRM perspective, in terms of sale automation. Super Receptionist integration has helped us capture inbound phone leads in a far more efficient and organized manner. In fact, I’m sure we have been able to capture all the leads that we generated. Till now, our lead volume has been the same but we were unable to capture those many in the system then because lots of leads were getting lost due to missed calls. With Super Receptionist, we have been able to organize our lead capture.
Efficient Lead Management with Intelligent Lead Insights: In terms of lead management, we have been able to monitor and generate reports far more effectively. Here’s an example. Suppose you want to analyse a particular medium of leads or you want to analyse how leads for a particular course or a particular newspaper ad are behaving. It would take a couple of hours to get that data from Excel. Now, during our meetings, we are able to see specific leads due to relevant filters and we are able to analyse and take our decisions more proactively without spending too much time.
Do you have any numbers to back it up?
The most evident numbers would be that, from the same number of ads, we are capturing more leads. In fact, we are getting 20% more leads! Earlier, we were getting about 15 calls per advertisement. Now we are actually getting 18 calls per advertisement. So basically earlier, three calls were getting misplaced. The number of calls generated has increased automatically and therefore, the number of admissions has also gone up significantly.
“Found a perfect lead management tool after 10 years research and reviewing over a dozen software”