Lendisoft LMS Feature: A/B Testing
In some circles, this is called champion/challenger, in others it’s known as A/B testing—whatever you call it, if you aren’t doing it, you aren’t learning and improving. And while most everyone agrees in its potential, it can be very difficult to achieve without total buy-in from senior management, plus a software that supports it at its core. Trust me, I’ve tried to make this work otherwise, using paper calling lists, and other “square-peg-in-round hole” attempts that only resulted in biased results you can’t trust. Lacking the right software, I once rolled this out enterprise-wide across multiple call centers, only to find that some of the branch leadership were looking the other way as their agents would contact accounts that weren’t meant to be contacted according to the campaign testing strategy. Can’t blame those agents I suppose, their bonuses were tied to effectiveness, not efficiency. But when properly implemented into the culture from the top-down, and with the right system controls in place, A/B Testing is a powerful weapon that helps lending organizations sharpen their ROI in a way nothing else can. At Lendisoft, these sorts of campaigns are in our DNA and built right into our core. Business execs can build and roll-out endless campaign strategies built around each account’s default risk and net balance owed. Very precise contact timing is pre-scheduled around calls, emails, and SMS communications. And you can run multiple campaigns in parallel on randomized segments, having them compete against each other all month long. Agents don’t even know which segments they are working, so results are unbiased and genuinely measurable. If you’d like to learn more about how Lendisoft helps you improve ROI, contact us today!