Home Services: Double Revenue with Sales Call Analytics
Looking to increase the effectiveness of your large, distributed sales team? For home services companies, coaching reps can make a great difference to an organization’s bottom line; and the best way to effectively coach reps is by using the call analytics provided by a sales tool.
As demonstrated by a major U.S.-based home services company, individual rep effectiveness directly correlates to annual revenue. As a sales manager, if you can measure call activity with a sales tool, marginally increase the effectiveness of your reps, and establish a culture of accountability, you will, in turn, maximize your revenue potential.
This home services company, which employs a large dispersed sales team (17,000 agents across 200 locations), was looking to grow revenue and drive agent accountability while preserving the agent mobility that was so important to their employees. Most of the sales team’s work was done via the phone, and a CRM was used to manually log their activity and results at the end of the week. This made performance tracking difficult and often inaccurate, and only increased the visibility gap for management. Additionally, the company was purchasing millions of leads each year, with no insight into conversion rates or what was happening to them.
Through the implementation of Gryphon’s sales tool, the company aimed to increase the effectiveness of management and coaching by gaining insight into the details of agent selling performance. The company began a 90-day pilot program for 210 agents across seven offices to determine if its management could use the tool to improve agent performance and make better decisions for the organization.
Before the pilot, agents at this company were projected to a 1% conversion rate (1% of calls would result in an appointment set) and were making 4.8 million calls a year (thus setting around 48k appointments each year).
Through the pilot program, the organization’s appointment setting rate doubled to 2%, resulting in 96k appointments set per year instead of 48k. At the same close rate and sales price, this would amount to the company doubling its annual revenue – from a total of $6 million to $12 million – through the implementation of the Gryphon System.