how can you positively impact your sales conversion rates

Customer Success Story

Increase Sales Conversion Rates Through Better Probing and Rebuttals

HYPERQUALITYCustomer Success Story

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Sales Effectiveness Study © 2014, HyperQuality, Inc.

INCREASE SALES CONVERSION RATES

THROUGH BETTER PROBING AND REBUTTALS

Business Challenge

With over 3 million customers, Benchmark Brands is an integrated direct-to-consumer retailer and is dedicated to serving the lifestyle and healthcare needs of it’s customers. Interested in realizing a higher sales potential, Benchmark Brands asked HyperQuality to assess their contact center operations to identify the following:

• Performance of the sales force

• Actionable recommendations to improve the sales conversion rate and overall revenue

Project Objective

The sales effectiveness project was aimed at conducting a proof of concept to assess end-to-end contact center operations and identify opportunity areas for the following goals:

• Enhance top line revenue through increased sales effectiveness

• Identify other opportunities to improve overall customer experience

Our Approach The project was guided by the following set of broadly stated research objectives:

• Gain complete understanding of current sales conversion rate / performance

• Identify factors driving sales performance through detailed call listening exercise and data analytics

• Segregate all factors into two categories - agent related and process related

• Prioritize top drivers related to agent and process behavior

• Listtheactionablerecommendationsbasedonopportunitiesidentifiedtoimproveconversionrate


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© 2014, HyperQuality, Inc. Sales Effectiveness Study Sales Effectiveness Study © 2014, HyperQuality, Inc.

Our Solution As a part of the sales study, HyperQuality focused on all interactions where customers wanted to either place an order or

had an inquiry with potential sales intent.

Manyfactorswereidentifiedwhichaffectedtheconversionrate.Thesefactorswerefurthertaggedanddividedintothe

following three categories:

A: Only agent related call reasons

B: Both agent and process related reasons

C: Only process related reasons

© 2014, HyperQuality, Inc. Sales Effectiveness Study


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Sales Effectiveness Study © 2014, HyperQuality, Inc.

There was a higher level of control over categories “A” and “B” and could be driven at a contact center level.

Itwasobservedthata‘lackofagenteffort’hadbeenfoundasthemostsignificantreasonfornonconversionintheproject

call set. The further drill down study (with the help of data through the call listening exercise) helped HyperQuality to de-

ducethatagenteffortwasdrivenbyfivekeyagentbehaviorattributes–‘Probing’,‘Rebuttals’,‘PaceofCall’,‘AgentTone’

and ‘Professionalism and Courtesy’.

‘Probing’ and ‘Rebuttals being offered’ were found as the most impactful attributes that would improve the conversion

rate. It was also noted that the conversion rate for new customers was much lower than that of existing customers. New

customersdidn’tbuybecauseof‘ShippingCharges’or‘ProductUnavailability’.Itwasidentifiedthatagentsdidnotprobe

or offer any rebuttals on the new customer calls.

Rebuttal Study

By studying a statistically calculated sample of sales calls, HyperQuality helped the client to identify opportunities pertain-

ingtoproceduralinefficienciesandagentbehavior.Throughthisexercise,itwasfoundthatonasignificantvolumeofcalls:

• Agentswerenotofferinganyrebuttalsleadingtoapotentiallysignificantfinancialloss

• Therewasopportunityforagentstoaskfollowupquestionsonacustomer’sfirstobjectionandtooffermultiple

rebuttals to further improve the conversion rate

• Alackofawarenesswasobservedontheproductbenefitsasagentswereunabletoeffectivelyexplainthefeatures

andbenefits


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HyperQuality recommended Benchmark Brands should enhance awareness and knowledge about products through coaching

to empower agents to consider all enquiry calls as potential sales opportunities. To position the rebuttals better, HyperQual-

ityrecommendedagentsshouldbecoachedtoprobemoreandgainathoroughunderstandingofcustomerconcerns.Rebut-

tals must be offered on all possible opportunities and could be driven through best practice sharing from agents who have

achieved high performance. This could further enable agents to effectively ask follow up questions on customer objections

afterthefirstrebuttalandbeprimarilyfocusedonexternalcustomers.

Results AchievedIn just 4 weekstherecommendationswerepreparedontheidentifiedgaps.Theconsolidatedlistofrecommendationswas

fedtocostbenefitanalysistogenerateopportunitiesforBenchmarkBrandstoimproveoverallsalesconversion.Thesehigh-

bar opportunities cumulatively translated into a potential annual revenue improvement of $1 MM and an overall increase

of 4.25% in the sales conversion rate.


For more information, contact:

HyperQuality, Inc.One Convention Place, 701 Pike Street, Suite 1560, Seattle WA 98101

877.283.7110 | [email protected] | www.HyperQuality.com

Copyright © 2014 HyperQuality, Inc. All rights reserved. Other trademarks are registered trademarks and the properties of their respective owners.Product specifications and features are subject to change without notice.010410