June 21, 2022
Introducing Georgian Grow
At Georgian, we pride ourselves on being laser-focused on the needs of our customers, the companies we have invested in. As a technology company ourselves, our R&D team works directly with our customers to build and scale high-value AI products – and in turn, our Product team builds software that addresses our customers’ operational challenges.
The latest addition to our platform – Georgian Grow – helps our customers accelerate their growth by increasing their lead conversion rates. In this blog, we’ll explain how it works and the significant results we’ve seen so far.
How Georgian Grow drives sales conversions
At the heart of Grow is our Lead Qualification module that uses machine learning to predict which leads are most likely to convert at critical points in the sales funnel.
In our conversations with sales leaders, one common pain point emerged: companies were generating too many leads to process using manual or rules-based methods. This means that companies need to either scale up their sales teams – which gets expensive and complex – or operate with incredible efficiency.
With Grow, we chose to focus on efficiency, and use custom machine learning models for each customer. Our users have complete control over the product’s configuration, so they can use their domain-specific expertise in increasing conversions while still benefiting from the power of machine learning in prioritizing thousands of leads. Georgian supplies the necessary data science and engineering talent to create and deploy predictive models.
The models rank leads by the likelihood that they will convert over a specific period of time. These leads can be net new outbound leads (e.g. they have not previously expressed an interest in the product), inbound leads (e.g. those that have expressed an interest by contacting sales or engaging with marketing content), or current customers that may buy additional products, features or licenses.
By highlighting the leads that are most likely to convert, Grow allows sales teams to spend more time working on high quality leads, which leads to higher lead conversion rates.
Promising results from proofs-of-concept
Customers of Grow provide the data needed to develop high-performing models. Then, Georgian’s Product team develops, deploys and maintains the model.
Because Grow’s models are trained specifically for each customer’s data and business context, the results are remarkable. Over our last three POCs, we have seen a 4.3x increase, on average, in lead conversion rate.
When Fiix, which provides a cloud-based Computerized Maintenance Management System (“CMMS”), approached us with their high volume of leads (over 20,000 marketing-qualified-leads/year), their sales reps struggled to prioritize leads with the highest likelihood of becoming sales qualified.
During the proof-of-concept (POC) phase of deployment, Grow used firmographic and marketing engagement data to correctly identify >90% of leads that would convert to a sales-qualified-lead, a 7x improvement in conversion rate over their historical baseline.
What’s next for Grow
We’re excited about the results we’ve been able to drive in our customers’ sales processes and look forward to deploying Grow with more of our customers. We’ll be sharing success stories over the coming months.
Grow is currently available to existing Georgian customers only. Customers receive an irrevocable lifetime license, plus our services, all for free. If you’d like to see if you’re a good fit for Grow, or if you’d simply like more information, request access here.
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