Machine learning: 3 ways Lead Tech helps financial advice firms improve performance

By Christina Bentley on November 12, 2019

Using tech to support partners’ growth

Forward-thinking businesses use data to improve efficiency, marketing and their services. But more companies are turning to machine learning to unlock their true potential.

This technology can do great things, from allowing Google to find your quickest route home, to helping financial organisations protect you from fraud.

And it’s helping Lead Tech break new ground in the services we deliver, from improved contact rates to lead quality.

Helping us deliver the best

Lead Tech’s operations team supports the entire business. They ensure we have the tools we need to deliver the best leads and support our financial advice partners.

Senior systems change manager Steve Huddleston shares three ways machine learning helps the operations team improve Lead Tech’s services.

Here’s everything you need to know first.

Understanding machine learning

Machine learning is a part of AI. It learns from data, which it uses to find patterns and make decisions.

Machine learning programs are designed to learn from large amounts of data. They’re capable of producing valuable insights, helping us solve complex problems, spot patterns and predict events.

Here are three ways machine learning is helping us improve our services.

1. We’re predicting the future success of our leads

We’re only as good as the leads we offer our partners. And with Einstein Prediction Builder, we can now identify factors that could determine a lead’s success or failure.

We do this by giving Einstein Prediction Builder a training set of data to analyse and asking it to give us a prediction. It runs a full data analysis and presents us with its findings. We’ll then activate this prediction if its results are helpful.

We’re now running a prediction every hour to identify factors that could tell us which leads don’t meet our lead quality criteria. We’re working with our replacement team to replace leads faster to help our partners meet their monthly targets.

2. We’re increasing contact rates for partners

Prediction Builder helps us in other useful ways. We can analyse partner performance data to predict contact rates for certain types of leads.

When we combine this data with performance data from our customer experience team, we can make these predictions stronger.

Understanding which leads are more likely to pick up the phone is a huge benefit. They’re helping us deliver a better service to our partners by prioritising these leads.

3. We’re analysing partner performance data to help our partners succeed

Partner performance data has always been the foundation of how Lead Tech develops. Analysing it helps us understand what’s working and how we can improve.

We used to measure partner performance on three basic metrics – contacts, appointments and conversions. Machine learning now lets us review the same data to give us a fuller picture of how partners are using our leads and uncover factors that can impact on performance. This feedback goes to the Partner Success Team to offer support and training.

Salesforce Analytics Studio gives us insights into how we can better support our partners, whether that’s improving the quality of the leads they get or increasing conversion rates and ROI.

Building the future together

We’re using one of the most sophisticated machine learning platforms around. Salesforce Einstein Analytics expands our capabilities in ways we never thought possible. But we can’t do this without our partners.

Our machine learning tools use lead performance data to learn, grow smarter and give us better insights.

They also help us make smarter decisions as a business and understand how to better support our partners so they can realise their goals. That’s why our partner success team encourages them to share their data.

We’re achieving great things so far and with our partners’ continued cooperation, there’s no telling where we’ll be in six months.

Better technology for better results

Lead Tech supports financial advice firms with high-quality leads. We use the latest technology to discover new ways to deliver the best results.

Get in touch with us to discuss how we can work together to build the future of lead generation and your business.

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