The lead qualification as a service (LQaaS) sector has been heating up rapidly as more and more embedded AI capabilities streamline and automate the lead qualification process. One of the biggest barriers to fully automated lead qualification has been the preponderance of data silos that make it difficult to generate a truly predictable lead score with less than complete prospect data. But as AI breaks down data silos, confidence continues to grow in using SaaS lead qualification tools that augment CRM systems.
But in some industries, speed is more important than deep qualification. Think of telecommunications firms trying to land new customers who might be in the process of switching providers - it is a race to grab attention and response and win over the customer. Time is of the essence…but, you also need to align with the buyer preferences and their own timeline and availability.
Enter Pitchit. The company says it “automates the first 24 hours of manual labor required to qualify inbound leads.” As soon as a marketing-qualified lead enters a CRM, there is a 24-hour time window where a salesperson must manually qualify the lead as quickly as possible before the lead loses interest. Historically, this stage in the sales pipeline was labor-intensive and required direct phone calls, discovery meetings or live chat conversations to finish the qualification process.
The notion is to quickly engage with prospects and leads, and at the best moment hand off to a human. This enables the AI to do the heavy lifting, sifting through volumes of leads to find those ready to engage, both filtering by data-based qualification as well as readiness to engage with the brand.
The company says it can sync leads from 7,000+ channels — social media, CRM, email, SMS, and more — to quickly quote pricing, book meetings, handle objections, and capture personally identifiable information (PII) before handing qualified leads off to a human sales rep.
By focusing on purchase-ready leads, brands with a large volume of B2C sales across multiple consumer touchpoints can dramatically increase sales qualified lead (SQL) conversion rates, lower the time and cost associated with every sale, and maximize revenue per sales representative. In addition, by reducing sales friction, brands can offer their customers a faster and more personalized sales experience while reducing costs associated with lead qualification, like SDR headcount, training costs, etc.
To date, Pitchit claims it has helped telecom and insurance sales teams qualify 531,000+ leads, save 4,400+ labor hours, book 4,000+ meetings, and close $280 million in customer revenue. Customers using Pitchit experienced a 250% increase in their lead qualification rate, on average. As they come out of stealth, the company has raised a $2.5m seed round.
For telecos and insurance providers, tools like Pitchit can be simple, cloud-based addition to the lead management stack. The company is honing its pricing, but for now the company gets paid based on conversions, which creates a low risk, high reward investment for businesses who have higher volumes of leads, historically low conversion rates, and short time windows to capitalize on consumer interest.
