We gathered data from inbound leads routed, qualified, and scheduled within the Default platform, totaling 88,047 leads & 19,493 meetings, and then created 5 hypotheses to test with these data:
1. Reducing form questions will increase conversion rates
2. Website scheduling will increase speed-to-lead
3. Post-conversion sequences will increase inbound volume
4. Adding AI workflows will save time on lead qualification
5. Automating CRM record creation will save time on data entry
1. Less Form Questions Can Double Inbound Conversions
Hypothesis: Reducing form questions to fewer than 5 will correlate with increased conversion rates for two reasons: First, it would lower the barrier to entry for prospects. Second, it would reduce form abandonment rates.
Analysis: Companies with 3 to 5 form questions on their demo request page experienced, on average, a 200% higher conversion rate than those with more than 5 questions. This observation aligns with a long-standing lead generation principle, corroborated by a 2010 HubSpot study, which found that shorter forms reduce friction and improve conversion rates.
Recommendation: To capture more data while asking for less, revenue and marketing leaders must use two or more enrichment providers. Automatic enrichment processes add valuable information to contact records, increasing conversions and saving an average of 6 minutes per lead in the qualification process.
2. Website Scheduling Improves Speed-to-Lead
Hypothesis: Adding scheduling directly into the demo request form will correlate with reduced booking times, accelerating speed-to-lead.
Observation: By scheduling meetings directly after submitting a demo form, speed-to-lead increased by 240X: from 48 minutes down to just 2 minutes.
Conclusion: Integrating scheduling directly with demo forms eliminates the back-and-forth communication typically required to set up meetings. By allowing prospects to book a convenient time immediately upon submitting a request, companies can dramatically reduce the lead response time, improving the likelihood of conversion and ensuring a seamless experience.
3. Automating Follow-Up Lifts Conversions by 14%
Hypothesis: Sending automated follow-up sequences to qualified prospects who submit a demo request will increase conversion rates by capturing leads who initially do not book a meeting.
Observation: Implementing auto follow-up sequences for demo requests that do not result in immediate bookings led to a 14.59% increase in meetings booked.
Conclusion: Automated follow-up sequences are a critical component in maintaining engagement with potential customers who show interest but do not take immediate action. These sequences can engage leads who fall through the cracks, as well as nurture and move them further down the sales funnel.
4. AI Saves Time on Lead Qualification by 31%
Hypothesis: Using AI to summarize enrichment data, form responses, and the lead's journey will correlate with reduced time spent on manual lead qualification, leading to faster response times and more efficient sales processes.
Observation: After deploying AI solutions to aggregate and summarize relevant lead data, average research time was reduced by 15 minutes per lead, a 31% reduction overall.
Conclusion: By automating data aggregation and analysis, sales teams can quickly identify high-quality leads and prioritize their outreach efforts. This not only accelerates the sales cycle but also allows sales teams to focus on engaging with leads rather than spending time on data entry and research.
5. Improve Attribution & Save Time by Automating Data Entry
Hypothesis: Automating the creation of contacts, accounts, opportunities, and events in the CRM will correlate with improved efficiency and accuracy in pipeline management, saving valuable time for sales teams.
Observation: Manual entry of lead information into CRM systems took an average of 12 minutes per lead. By automating this process, companies were able to save substantial amounts of time and that lead data was accurately and promptly recorded.
Conclusion: Automated pipeline attribution is essential for maintaining a streamlined and efficient sales process. Reducing the manual workload associated with data entry, ensuring sales teams can focus more on engaging with leads and saving hours per week on data hygiene tasks.
4,267,421 minutes
4,267,421 minutes were saved by routing, qualifying, scheduling, and nurturing 88,047 leads using the above methods in the past 12 months.
Before Default
48
Minutes Per Inbound Lead
22%
Inbound Conversion Rate
After Default
2
Minutes Per Inbound Lead
57%
Inbound Conversion Rate
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