Jay Stockwell built MagicBlocks, an AI agent platform that started inside a mortgage company. It converts leads 3 to 4 times better than regular chatbots, doubles human performance at capturing details, and makes leads 30% more likely to complete applications. Deploys in hours via chat, SMS, email, or DM.
Questions this video answers
Approximately 3–4× higher conversion/engagement.
About 30% more likely.
The AI outperformed humans by about 2× at getting lead details and engagement.
Just a couple of hours (with templates); adding proprietary company knowledge takes additional time.
magicblocks.ai
Chapters
Foreign.
Hi, my name is Gerhard Schwartner and welcome to Selling Power tv. Today we have a great pleasure of having a serial entrepreneur from Australia, Jay Stockwell. Welcome, Jay.
Thank you. Thank you.
Tell us about Magic Blocks. This is your latest creation.
MagicBlocks is an AI agent platform that we invented within a mortgage company that is a digital mortgage company. And so we were, we were having trouble converting the leads at the kind of conversion rate that we were, we were hoping. So we started to look at how AI can, can kind of help in that process. So we invented this technology and it worked far better than I had anticipated. And so now it's a platform that pretty much anybody can build an AI agent that's particularly good for, for inbound leads. Converting and also pre qualifying is another big part of that. This AI agent can do pre qualification, has very high levels of emotional intelligence, move dynamically through a sales playbook if you like, either hand off the lead to someone else. But also interestingly, if the lead isn't suitable for you, it can also pre sell into another company and you can, you know, get some revenue from, from a referral as well. It can operate 24 7, it's extremely fast and you can do it across online chat, sms, email, direct messages, as well as potentially voice within the next few months.
So it's almost like having an SDR sitting on your website and looking for traffic.
It's very good with inbound. So say if someone's coming into your website and they've typed in something, it has sort of intuition and it can understand what that query was and then be able to have that first message really personalized and engage that person with exactly what they're looking for from their original search query. And that we've seen that increase conversions probably three or four times compared to a regular chatbot, even if it's manned by a human.
Jay, how long does it take to build an AI agent on your platform.
Have templates so that can take just a couple of hours where there's a little bit more time you can spend is introducing all the proprietary knowledge from your company into the brain of the agent. And that allows the AI to be able to answer very specifically and uniquely to the questions they have about your company.
Can you walk me through a recent success story?
Beeline. So it's a mortgage company, they had a human AI sales chatbot on there. So they had humans kind of operating that when people were it. And then we tested the AI one just to kind of do some comparisons at that point There was a 3 to 4 times conversion rate increase. So there was way more engagement with the chatbot, so more conversations. But then we compared. Okay, once the conversations start, what's the conversion like to actually getting a lead? And the AI outperformed humans at actually getting all of the lead details and doing the engagement by double. But then the really interesting stat that I, that I really like, we saw off the back of the lead to actually full application, like, so they do full online applications. They had spoken to one of the AI agents. They were 30% more likely to complete a full application. And so what that says to me is that the conversation that they had was very rich, it was compelling, and they actually had all their questions answered and they wanted to actually go through the process. If you kind of take the right approach and you have this very human centric AI experience, it can really outperform anything else.
How can people learn more about workplace AI?
Go to magicblocks. AI is our web address. And you can actually chat with our sales agent that's on the site and you can kind of get a feel for. For how operates one of the important things as well. This works well for regulated industries because we have guardrails as well. So you can deploy a guardian. And it can also review the responses from the AI to make sure that it's meeting the principles and the guidelines that you have. It's a very powerful yet simple and actually, dare I say, very fun platform to build on because you're building these kind of like, personalities. It's this sort of emergent consciousness almost that comes out of it, which is kind of fun and interesting to see.
