19 Dec Introducing Suggestions – Every agent is intelligent
In keeping with Vymo’s philosophy of ‘Minimal Intervention + Maximum Use’, we are introducing Suggestions – a new way to improve engagement and outcomes for reps.
Once enabled, Suggestions will provide sales reps with contextual suggestions in the form of ‘Next Best Actions’. Suggestions are a limited set of actions, which we recommend to the agent based on their activity history with a Customer or Partner. This is generated basis data on what the most successful reps are doing, their current location and calendar for the day.
These interventions make sure that the reps are engaging with partners with the highest business potential who are also in their vicinity or that a warm lead isn’t missed.
How are Suggestions sourced?
At Vymo, we process terabytes of engagement data every month. This data feeds into a model which can correlate engagement type and frequency with outcomes. Using this we create a framework to understand what an agent should be doing on a daily basis to meet their most critical business objectives.
The Suggestions algorithm factors in operating conditions of activities, such as, hierarchy, call/meeting frequency, the agent’s calendar and time of the day along with agent specific attributes, such as, activity history against partners, the suggestions they have accepted in the past and the feedback they have given while declining. The idea here is to think from an agent’s perspective, incorporate their feedback and actively improve their productivity.
What actions can Vymo suggest?
Suggestions can pertain to any set of actions; for example, a meeting that can help educate a partner about new products or a call to check ad sales revenue of a partner restaurant – both of them could make a huge difference. Primarily, we can classify suggested actions to be one of the following:
- Reminders to complete an action
- Alerts to clear critical backlogs
How can you measure the impact of ‘Suggestions’?
Specific impact criteria could vary depending on the nature of the business, but since Suggestions aims to improve engagement – those outcomes more closely linked with it should be impacted at the very minimum.
Suggestions on Partners use cases are used to drive up net business generated across an agent’s pool of partners. There are also secondary outcomes like increase in the number of activities, number of partners covered with a certain period and higher engagement numbers in general.
For Leads module, Suggestions focuses on improving conversion rates and reducing time to conversion.
What’s way forward for Suggestions?
Currently, we are analysing historical engagement patterns. Our algorithms will evolve further based on how agents use Suggestions. For instance, when an agent declines a suggestion, we factor in the decline reason – be it the agent was busy during that time, the partner being too far away or something else.
Going forward Suggestions will be more customized to each individual based on their interaction history and feedback.
Note: Suggestions is rolling out across Vymo clients in a phased manner.