Can an algorithm help improve the conversion rate of leads? Los Angeles based Leads360, the developer of sales leads management software, thinks so, announcing today that it has launched a new product which uses a fancy algorithm to better assign and drive leads and sales followups. The firm said its new Performance-Based Distribution and Lead Scoring product continually learns and self tunes itself, based on the performance of sales representatives, to improve the chance of converting sales leads.
The company said the new feature is a response to the failure of traditional sales systems and CRMs, which it says are cumbersome to setup and difficult to continuously optimize without an army of dedicated analysts. The firm says its algorithms instead assign more leads to sales reps that are skilled at converting particular lead types, based on their historical performance. Pricing on the new product were not announced. Leads360 is led by Nick Hedges; the firm is venture backed by Rustic Canyon Partners and Volition Capital.