Here’s how Study IQ Automates Student Management with LeadSquared

“LeadSquared helps us keep track of everything. Lead capture, follow-ups, performances, and more. It has made everything easy by pinpointing progress, MoM revenue generation, growth, and team performance. We have managed to establish a structure in our company which will, in turn, help us increase profits.”

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Higher

Conversions

Improved

Student Engagement

Shorter

Turnaround Time

In-depth

Reporting

Study IQ Loves LeadSquared because it:  

  • Enables lead prioritization
  • Tracks student journey
  • Automated admissions workflow
  • Provides complete visibility into the admissions process
Higher

Conversions

Improved

Student Engagement

Shorter

Turnaround Time

In-depth

Reporting

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About

Study IQ is dedicated to providing online education to students preparing to secure government jobs. The organisation was incorporated in 2015 in New Delhi in an offline mode, but they moved their operations online in 2017. They help students prepare for government exams in English and Hindi through their pre-recorded videos.

Study IQ aspires to provide affordable and quality education to every aspirant across the country. To do this, they share tutorials, study material, and video classes that can be accessed without using an active internet connection from any part of India. Additionally, they also cover current affairs and daily news where students can prepare and stay updated.

Study IQ helps students prepare for competitive exams

What was their digital transformation story?

As an early-stage test prep EdTech start-up, Study IQ spent their initial days functioning in a traditional offline model. Once Covid struck, they wanted to scale up their business by turning online. They had aggressive growth plans, but manual operations with excel sheets were decelerating this process. Improper lead management, slow turn-around-time, and non-personalized conversations led to low conversion rates. That’s when they decided to look out for an EdTech CRM that would help them with their vision.

The roadblocks that drove Study IQ to digital transformation:

  1. Missed follow-ups with potential students.
  2. The need to derive performance metrics for courses, agents, and teams.
  3. Low visibility into the sales funnels and lead’s position in the sales cycle.
  4. Lack of automation, forcing sales agents into manual and repetitive tasks.
  5. Inability to prioritize conversion-ready students.
  6. Slow and unsystematic lead distribution leading to missed opportunities.

The missed student follow-ups made the system inefficient because it led to low demo numbers which became a  significant roadblock. That’s when they decided to implement LeadSquared and here’s where it helped:

Student inquiry capture:

Study IQ uses several methods for lead generation, including marketing campaigns, landing pages, ebooks, and content download. They also run google ads and social media campaigns.

They wanted a system to capture every single student inquiry and update the sales agents in real-time. This proved to be a very efficient method as compared to tracking leads on an excel sheet.

Reduced student turn-around time with automated lead distribution:

“We have 340+ courses, and criteria-based lead distribution is very efficient. Agents get follow-up reminders 30 minutes before the task. This way, they do not miss out on follow-ups, and the conversion rate has significantly gone up.”

Automated lead distribution

With very high competition in the EdTech space, it is crucial to reach out to prospective students before the competition gets them. Study IQ wanted to reduce the student turn-around time by routing student inquiries to sales agents in real-time. With LeadSquared, Study IQ has created automated workflows for lead distribution and defined advanced distribution logic. Following are a few of the criteria that they use:

  • Location-based lead distribution
  • Sign-up URL (for different courses and campaigns)
  • Source campaigns
  • Learner attributes such as course, language spoken, etc.
  • Sales agent attributes such as seniority, language, subject knowledge, etc.

Student activity tracking:

“It is very convenient to know the intent of the prospect. Sales agents can curate their pitch based on the students’ courses of interest and follow up within no time.”

Tracking Student Activity

Study IQ leverages LeadSquared’s EdTech CRM to track critical student activities such as course visits and form fills, ebook downloads, and more. Sales agents are notified based on essential student activities, and a follow-up task is created on the student lead. Study IQ also uses multiple automation sequences for keeping the students engaged till the sales agent reaches out to them. For example, as soon as a prospective student lands on a landing page/website or visits relevant links on the website, sales agents can send targeted content and engage with students.

Lead prioritization

“The ability to prioritize conversion-ready leads has made processes easy, and the sales team’s efficiency has become better.”

With multiple student inquiries pouring in every day, calling each lead one by one and hoping they’ll convert is a lost bet (and a really time-consuming one). There is a chance of losing potential customers by not prioritizing them over those who have a lower intent to purchase. LeadSquared helps the sales agents from Study IQ prioritize and identify conversion-ready students by assigning scores based on critical sales signals.

Sales automation

Automating processes helps remove human dependency for repetitive processes and clears the team’s bandwidth for more high-value tasks. LeadSquared helps sales agents concentrate on actual selling by taking care of day-to-day operational chores.

The team automates processes such as demo or follow-up scheduling based on student actions. LeadSquared CRM helps create automated sales workflows to not only capture leads but also enable their movement towards a closure.

Data-driven insights and funnel visibility:

Data driven insights and funnel visibility

Study IQ as a growing new age EdTech keeps experimenting with their processes and strategies to identify the most optimal ones.

With LeadSquared’s reports, Study IQ was able to track:

  • Each lead’s stage in the system
  • Weekly and monthly conversion rates
  • The progress of each team member using specific KPIs such as number of phone calls, connected call time, missed follow-ups, and number of emails sent
  • Marketing analytics such as best lead source, campaign performance, course performance, and more.

If a follow-up is missed or a lead is not worked upon within a stipulated time, it is reassigned to other sales agents in a round-robin fashion. This has reduced missed opportunities, and student acquisition rates have increased significantly.

Tracking daily sales activities provides more actionable data on closures, pipelines, and revenue.  In-depth reports help them make data-driven decisions.

The Results

“LeadSquared helps us keep track of everything. Lead capture, follow-ups, performances, and more. It has made everything easy by pinpointing progress, MoM revenue generation, growth, and team performance. We have managed to establish a structure in our company which will, in turn, help us increase profits. The advanced analytics feature in the EdTech CRM has played a part in helping us improve our market valuation by streamlining the sales and operations. 

LeadSquared is helping solve and smoothen our operations at an affordable cost, and the efforts put in by the team are commendable.”

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