IIFL Finance Ltd, a leading NBFC (Non-Banking Financial Company) in India, caters to millions of customers through its extensive network of over 2,000 branches. With a market capitalization of ₹10,099.89 Crore, IIFL serves a wide range of financial needs across the country. Despite their broad reach, the company faced challenges in lead management, media attribution, and overall conversion rates.
The Challenges
Delayed Response to Leads: The existing system suffered from significant response delays, resulting in missed opportunities and frustrated prospects.
Poor Lead Accountability: The lack of clear ownership of leads hampered follow-up efforts and conversion tracking.
Lower Conversion Rates: Inefficient processes and unoptimized customer touchpoints led to a lower-than-expected conversion rate.
Inaccurate Media Attribution: Ineffective tracking of media sources limited IIFL’s ability to assess which channels were delivering high-quality leads, resulting in inefficient media spending.
What did
Rubic Solution do?
Solution: We partnered with IIFL Finance to streamline their lead management process and enhance the efficiency of their customer acquisition strategy through the following solutions:
Unique Media Tagging: Each media source was tagged with a unique identifier, enabling precise tracking of lead origin and performance.
Real-time Call Routing: Prospects’ calls were routed directly to the nearest IIFL branch, reducing wait times and improving the lead experience.
CRM Integration: Seamless integration of our system with IIFL’s CRM enabled real-time tracking, monitoring, and management of leads, ensuring quicker follow-ups and better accountability.
Results: The implementation of these solutions had an immediate and profound impact on IIFL’s lead conversion rates and overall customer experience.
17X Increase in Lead Conversion Rates: The optimizations resulted in a remarkable 17-fold improvement in lead conversion, driving significant growth in new customers.
Enhanced Customer Satisfaction: Real-time connection to the closest branch improved the prospect experience, leading to higher satisfaction and trust in the brand.
Cost Savings and Optimized Media Spend: Real-time media performance analysis helped IIFL allocate their budget more effectively, reducing wasted spend and optimizing ROI.
Conclusion: By leveraging advanced media tagging, CRM integration, and real-time lead management, IIFL Finance has transformed their lead conversion process, achieving unprecedented growth and efficiency. This case showcases how aligning lead generation with technology can yield powerful business outcomes, driving customer satisfaction and maximizing returns on investment.
The Results
- 17x Increase in Lead conversion
- Over 30,000 hrs delivered back to the business
- 100% SOX compliance in Settlement process automation
- >95% success rate of bot case completion
- SDK delivered for native platforms, enabling Virtual & Live agent communications across multiple mobile platforms