In the fast-paced digital era, businesses are increasingly looking to leverage technology to optimize lead generation and conversion. From ChatGPT to Midjourney, recent developments in AI and machine learning have opened new doors for this, with technology serving as a critical driver for change in sales and marketing. As PARC researcher Alan Kay once said, "The best way to predict the future is to invent it."
Companies worldwide are striving to invent their future, and amidst this, there stands a notable startup, Convolo. Specializing in rapid response for potential leads, Convolo, an AI-powered communications platform, is leading the charge in this field, significantly transforming lead conversion times. In other words, the company appears to have found a compelling way to democratize enterprise-level lead response, resulting in small and medium-sized companies being able to not only serve, but truly delight their customers.
AI-powered sales: an introduction
It is well known that in the world of sales, time is money. The sooner a lead is followed, the higher the probability of conversion to a sale. Research has shown that a lead contacted within one minute of showing interest is two to four times more likely to convert than a lead contacted after 20 minutes. Traditional methods have struggled to achieve this, with the average response time for businesses around 42 hours.
Enter Convolo, a startup that leverages Artificial Intelligence to change the landscape of lead conversion drastically. "Almost everybody understands that lead response time is important, but almost nobody understands just how incredibly important it is," explains Johan Nilsson, co-founder and CEO of Convolo. "The effect on Ad Spend ROI when calling leads within 1 minute is a game changer for most companies."
How does Convolo's technology work?
Convolo's platform is designed to be incredibly user-friendly. Businesses simply add the Convolo script to their website, and potential leads can click the phone button to enter their phone number. Alternatively, a pop-up prompts website visitors to enter it. This ingenious use of AI then automatically connects a call between the sales team and the potential client within one minute.
This rapid response is not only efficient, but also surprising and satisfying for potential customers. As Nilsson puts it, "Clients often end up literally laughing on the phone because of the positive shock of how fast it was."
But Convolo doesn't stop at connecting the lead and sales team. It also improves communication within the team by using AI to automatically grade the call and create a short and sweet summary of the call on top of collecting the rating from the agent.
Convolo for sales conversions
The transformation of the lead conversion process by Convolo has had a significant effect on businesses. Companies utilizing Convolo's technology have seen a dramatic increase in lead generation and conversion rates. "By adding the Convolo Phone Button and Popup to their website or landing pages, clients on average get 25-75% more leads. And by calling leads within 1 minute, the close rate from lead to won deal usually improves 2x-4x," Nilsson adds.
Additionally, with the data collected and saved from calls, businesses can gain valuable insights that can further increase lead generation and conversion. Convolo uses AI to also analyze results from campaigns to suggest improvements. This is rapidly moving towards an option to "Let Convolo optimize your Lead Management for you", just like big tech companies like Facebook and Google are offering customers to optimize your ads for you.
Looking to the future
With the rise of digital technology and the impact of COVID-19 further driving businesses to enhance their online presence, the need for efficient lead conversion tools like Convolo is evident. As businesses globally spent approximately $378 billion on digital advertising in 2020, with only a 2.17 percent conversion into sales, the significance of Convolo's technology is clear.
As Convolo continues to develop and enhance its AI-powered lead conversion tool, it is set to further revolutionize the sales and marketing industry. Nilsson, who was recently invited into the Forbes Technology Council, hints at exciting developments, "We're just getting started. Our technology continues to evolve, and we are committed to delivering the best for our clients."
One example of such an evolution is Convolo's Dialer product. In 2022, the company started using its technology to help companies improve the productivity of sales teams with their AI Power Dialer functionality aimed at speeding up follow-up calls and improving results from outreach campaigns.
With its focus on speed, efficiency, and new use cases, Convolo is leading the charge in transforming sales response and shaping the future of lead conversions. Thanks to the startup's commitment to innovation, businesses can indeed have their leads on the phone in less than 60 seconds, proving once again that in the world of sales, every second truly counts.
