Updated: Oct 21, 2019
"When I managed commercial teams in previous roles we used cold calling as our primary lead generation method, but that yields a poor 2% response rate. We knew there must be a better way." In this week’s SalesTech Spotlight, we’re talking to Leetal Gruper, CEO of B2B Lead Generation Software, Leadgence.
Thanks for taking the time to chat. Let’s dive straight in! For the uninitiated, can you give us the lowdown on Leadgence: What is it?
At Leadgence we specialise in 'precision buying intent signals'.
What that means is, we identify, at a very high accuracy rate, when companies have a need for certain products/services and provide this information to our users in the form of 'warm leads'.
What attracted you to the world of sales and specifically a solution for lead generation?
Leadgence was born from a pivot Sergey (Co-founder and CTO) and I did from a different idea we were working on. We re-used the technology we developed and deployed it to the lead generation problem I was intimately familiar with.
When I managed commercial teams in previous roles, we used cold calling as our primary lead generation method, but that yielded a poor 2% response rate! We knew there must be a better way...
Leadgence helps by identifying prospects in the ‘buying window’, tell us about that?
From the point of view of sales, the best time to reach out to a customer is when they already know they have a problem, but have not started to actively look for a solution. We call this the “buying window”.
We process large amounts of public data (company websites, press releases, social media etc…) and look for indications a company needs (or is about to need) a solution for a problem.
For example, an international company that publishes a position for their first employee in the UK will need to provide employer liability insurance and a pension to the employee. That is a prime lead for an insurance broker!
At Alexander & Neighbour, we are driven by objective statistics: we love a them. Any fact bombs you could drop on us?
Sure, our customers see an average of 200% increase in conversion over their existing conversion rate.
The interesting thing is that in very competitive industries such as Payments (Merchant Services), our clients actually see an increase in the conversion rates of both the prospect-> qualified lead and qualified lead -> sale. This is because we are able to identify leads before they start shopping around.
Artificial Intelligence is changing the entire tech landscape. How do you integrate this into your solution?
We are constantly improving our capabilities and see AI as core. We are using NLP (Natural Language Processing), Machine Learning and Image Processing Techniques to extract the signals.
In a nutshell: how does Leadgence help businesses to grow?
Very simple – because we are able to identify for our clients when buying signals happen in their ideal vertical, we increase their overall revenue and customer lifetime value. And all of this with zero integration and zero data sharing on our customer’s side.
You mentioned, Leadgence helps specific business verticals, currently ‘increasing conversion by 200% on average.’ Are you planning to move into different verticals and what will signal the time to expand?
Today we are serving customers in the financial services sector in the UK and the USA. We have big plans to expand into additional sectors and additional countries. We see a huge demand for leads in continental Europe from our existing multinational customers.
The timing will be based on customer requirements and technical development.
As an entrepreneur, what do you wish your 20 year-old self knew?
Patience. Creating something completely new takes time, iterations, grit and lot's of patience!
Lastly, any top tips to help any entrepreneurs grow their own business?
Focus on getting real paying customers as early as possible and work closely with them to improve your product.
It's never too early to start speaking with your potential customers!
At Alexander & Neighbour, we help businesses grow through digital transformation.
SalesTech Integration, Web Development, B2B Sales Expertise and our fast growing WebPitch service, we've got all the bases covered.
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