If you had to make a list of some of the most exciting tech-based advancements to come along in a generation or more, artificial intelligence would undoubtedly be at the top of the list. But what many fail to realize is that it adds value to more industries than just technology – home improvement professionals have begun to use AI and deep learning to increase revenue per lead and Think Unlimited is at the forefront of that advancement.
Why Artificial Intelligence Matters
The data scientists at Think Unlimited have built a customized, self-training algorithm that qualifies, scores, and allocates leads based on how a sales team as historically performed against prospects with similar characteristics.
This software, referred to as the Think Lead Optimizer, makes customer data actionable by helping home improvement assign leads based on factors like:
• Projected revenue per lead
• Likelihood to close
• Economic score
• Demographics
• Behavioral data
• Geographic qualities
• Lifestyle attributes
Brock Crabtree, Think Unlimited’s Vice President of Sales and Business Development, said that this technology is so important because it “takes the guesswork out of utilizing Al when looking at the probability to close, alongside other relevant information like ticket size.” In essence, lead scoring and allocation is about unlocking the story contained inside a company’s enriched historical data—all in an effort to use it to build a better and more profitable future.
Enter: The Think Lead Optimizer
In terms of Think Unlimited’s own Think Lead Optimizer {TLO}, the company has taken a unique approach in that it is not a traditional benchmark rating with leads being scored on an arbitrary 1 to 5 model. “We customize our algorithm for a business’ lead assignment utilizing Al, which is in and of itself a deep and self-learning model” said Brock Crabtree. “Our technology can predict the value and outcome of each lead and the output is the actual dollar value for each lead assigned with 97% accuracy,” a move that generates far more insight than ever before that can be used to increase NSLI and more.
Since this tool originally launched, Think Unlimited has worked with many businesses in the home improvement space, from organizations dedicated to windows and doors to siding professionals, roofers, kitchen, bathroom and basement remodelers and beyond.
Mr. Crabtree continues, “any company doing $15 million or more in revenue with ten or more sales representatives” can absolutely benefit the most from TLO. He also indicated that many of the company’s current clients have been able to increase NSLI from between 7% and 15% on average.
“It’s an exciting time for our industry to be implementing tools that are standard in almost every other one,” said Crabtree. “Companies that don’t adapt to this technology will be left behind in the long run,” which is a big part of the reason why he and the professionals at Think Unlimited are trying to bring their state-of-the-art solution to as many organizations as possible.
He ended his thoughts, saying that “TLO is by far the most in-depth lead scoring and segmentation opportunity out there right now. It uses exclusively proprietary information, too.” That last point is particularly important, as it gives home improvement organizations an opportunity to create a genuine, competitive advantage for themselves in their marketplace.
Letting the Past Inform the Future
Regardless of the type of business you’re running or even the industry that you’re operating in, sales and marketing shares a commonality: To get the right message in front of the right person at the right time. To do that, you need to know as much about your prospects as possible & who they are, where they live, what they like, and what they need.
Think Unlimited is dedicated to providing home improvement professionals access to actionable data, so that sales and marketing organizations can make profitable and informed decisions when assigning leads and developing personalized campaigns.
To learn more about the Think Lead Optimizer, schedule a free demo with us today.