Lead scoring for Financial services

Eliminating guesswork from the lead verification process with Fido has helped MotorK improve turnaround times as well as their bottom line.
Case Study: Facile.it

About Facile.it

As the leading price comparison platform in Italy, Facile.it has a unique purpose: to make their clients’ lives easier. In our fast-paced world, people want simple, straightforward ways to make their financial decisions and preserve their wealth. Not to mention the stress of scrutinizing dozens of different offers with vague fine print and terms.
Facile.it provides the best and most relevant deals available in Italy, to save their clients’ time and prevent the stress and hassle of all the research. Whether you’re looking to buy a new home or invest in life insurance, Facile.it delivers the most affordable, comprehensive deals on the market.

Using Fido has been a game-changer for us. Now that we see actual day to day implications of a custom lead scoring model on our everyday efficiency and performance, we could hardly imagine going back to doing business the way we did before Fido.

Ivano Cresto
Managing Director, Financial Products, Facile.it

The Challenge

Filtering high and low quality leads.

Being the best at what they do, it comes as no surprise that Facile.it processes tens of thousands of requests every single day. Those thousands turn into millions of leads each month. While most come from genuinely interested people, some also turn out to be baseless. By the time the team at Facile.it can manually sift through them all, a portion of hot and strong leads coming from people who actually need their help could end up on the back burner, turn cold or rush to a competitor for a quicker response.

Before Fido, a regular workday at Facile.it looked like this:

  • Several thousand mortgage requests were flowing in per day – and that’s only one section of all the comparison services available on their site.
  • All requests were processed by call center agents using a generic workflow, irrespective of the lead quality. Agents were pursuing these leads in the order in which they came in – not based on their likelihood to convert.
  • The bottom line: too much time, effort, and other resources was wasted on pursuing low quality or unqualified leads which couldn’t be identified before the call.

The Solution

A lead scoring model tailor-made for Facile.it

The goal for Facile.it was to focus their energy on people who needed their help the most. To do that, they needed a seamless way to evaluate which requests to process first with high priority and which ones to discard. This would allow them to prioritize the most promising clients who were likely to convert and benefit from their expertise the most. Sniffing out low quality and unqualified leads based on their digital footprints is one of Fido’s specialties. Fido was able to build a custom scoring model and assign scores to leads before they could get to an agent, leaving only verified, legitimate leads to reach the top of the pipeline.

Fido created a custom scoring model based on a training data set received by Facile.it to back-test the scoring engine’s discriminatory power

Fido’s APIs enabled Facile.it to retain their platform’s existing user experience – as no disruptive forms or pop-ups are necessary for Fido to assess the client’s leads

The Impact

As Fido relies on a whole host of digital signals, all it takes is a phone number or an email to differentiate between a likely to convert customer and a false lead, with a high degree of certainty.

People might try to use fake data, but their digital footprints don’t lie. Specifically, Fido discovered that these “positive” digital signals had the strongest correlation to higher lead conversion rates:

An email associated to a company account

A Premium Mobile Network Operator

An email address associated to a LinkedIn account

Customer connecting from a commercial ISP

An IP address in the Metropolitan area

A mobile phone number associated to WhatsApp

Considering broad operational benefits brought to Facile.it, it would be unfair to boil down the results into nothing more than numbers, but let’s start with them to drive the point home:

+43%

More conversions
ever since Facile.it started using Fido’s lead scoring API and a custom-trained scoring model.

-24%

Conversion time
Genuine and valid customers get priority treatment thanks to Fido and no longer wait for their requests to be processed.