“For our customers to date, over 50% of outbound calls from Second Chance Leads result in a booked job. That means every other time you go out to bat, you're hitting a home run. And then on top of all of that, in July, over 50% of Phones Pro users who use Second Chance Leads saw this feature more than covered their month's Phones Pro bill.” — Sarah Sheehan, Group Product Manager of Titan Intelligence, ServiceTitan
Service businesses spend heavily on marketing initiatives to attract leads, yet ServiceTitan data shows less than 20% of all inbound calls convert to jobs on the spot.
When faced with this scenario, businesses can take two paths: Follow up with leads to offer a solution to overcome their objections and win the job, or move on and lose out on the revenue entirely.
In a 2023 Pantheon session titled Second Chance Leads — Get Another Shot at Closing the Sale, Sarah Sheehan, Group Product Manager of Titan Intelligence, introduces Second Chance Leads for Phones Pro and explains how it can save time and generate additional revenue by surfacing and prioritizing unbooked calls for immediate follow-up.
“By the end of the session, our goal is that you can walk away with the tools and confidence to start implementing Second Chance Leads at your company, so you can see the same success that all of our clients who have used it to date have seen,” Sheehan says.
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AI Simplifies Lead Management
Sheehan says service businesses have hundreds of unreviewed calls that could be labeled as unbooked, abandoned, or excused, but many companies typically lack the time to review each call.
“With Titan Intelligence, we can do it for you within fractions of a second,” she says. “We intake your calls in real time as they're created from Dialpad, and then we identify those calls that have the highest likelihood of being a lead and surface them up to you as a second-chance lead.”
Rather than reviewing every call with the hope of finding money left on the table, Titan Intelligence uses AI to analyze hundreds of calls in seconds.
“If that wasn't enough time savings, with Titan Intelligence you don't even need to review those calls or read the full transcript,” Sheehan says. “Instead, it produces a summary of the call—the CliffsNotes—it's basically your snapshot of what happened. You can still choose to dig deeper, listen to those calls, and look at those transcripts. But ServiceTitan, through Titan Intelligence, is empowering you to do all of this in seconds.”
Sheehan says a CSR manager can use the software to monitor second-chance leads in real time. As a new lead comes in, the manager can instantly review the summary or listen to the call to determine if the call is in fact a bookable lead or missed opportunity and make a call back to the potential customer in one click, potentially saving lost revenue.
Second Chance Leads by the Numbers
Sheehan shared a case study of a ServiceTitan user from the beta test group who saw immediate results after implementing Second Chance Leads.
“By reviewing just a handful of second-chance leads a day, they were able to book $50,000 in additional revenue a month,” she says. “Think about what an additional $50,000 might mean for your business.”
Businesses should also consider how following up on second-chance leads requires no additional marketing spend, and you’re essentially recouping revenue that would otherwise fall through the cracks. Sheehan says users in the test group on average saw a 2% increase in booked revenue per month, all attributed to Second Chance Leads.
“For our customers to date, over 50% of outbound calls from Second Chance Leads result in a booked job,” Sheehan says. “That means every other time you go out to bat, you're hitting a home run. And then on top of all of that, in July, over 50% of Phones Pro users who use Second Chance Leads saw this feature more than covered their month's Phones Pro bill.”
Best Practices to Maximize Value
Sheehan says businesses should be strategic about who in the company can act on second-chance leads and advises against granting access to every CSR.
“We recommend that you select whoever in your business is most qualified to determine whether or not the call was in fact a lead, and who also has the right skills to make those outbound calls,” she says.
Businesses should also make sure employees who act on second-chance leads have the authority to make scheduling changes.
“If you have someone that can make that change reviewing those second-chance leads instantly, doing that quick callback to make a shift in the schedule, means you just booked revenue that you would've lost out on, and you need to do it before they get to your competitors,” Sheehan says.
Second Chance Leads also provides the bonus of spotlighting performance issues and training opportunities that can turn an unbooked call into revenue.
“In the long-run, this reduces second-chance leads in the future, and it will increase your revenue upfront. To me that's winning,” Sheehan says.
Second Chance Leads is currently available at no additional cost for Phone Pro users.