Do you need to improve your results from your cold calling efforts? Outbound phone sales can be tough, but there are tricks to turn your telemarketing lead list into paying customers.
Understand Your Funnel
You can’t just look at your dials to closing rate and find where the kinks in your system are. You need to understand how the cold calling funnel works and how the customer journey plays out.
The Telemarketing Funnel
How many leads do you have?
How many calls you make?
How many decision makers do you reach (reach rate)?
How many people you reach qualify to buy your product?
How many qualifies did you close?
Are you getting enough leads? Are they quality? Not having enough leads leaves you dead in the water before you even begin. Purchasing the right targeting telemarketing lead list from a reputable list broker is key. Find innovative ways of lead generation to supply our tram with the leads they need.
Are you making enough calls? Make sure your leads are being contacted within a timely manner. A cold lead quickly becomes a dead one. Use incentives to try to boost your team’s productivity.
Reach rate is super important to your bottom line. The standard benchmark reach rate you will want to shoot for is 15%. If you are continuously falling short of that, you might want to check the quality of your leads. Your marketing lists should always come from qualified lead generation companies.
This is the point in the funnel where most problems occur. A qualifying lead is when you’ve had a chance to ask the basic questions that confirms the person actually should buy your product. You should be hitting a 50% reach to qualify rate. If you are continuously falling below that number it might be time to find a different telemarketing lead list broker and find one with better quality leads.
If you find that your reach to qualify rate is good, but you are still closing at less than 50% of your qualifying leads, you might want to evaluate such things as
- Are you targeting the right market?
- Is cold calling a viable way to sell your product
- Does your pitch suck?
Even if you have the best telemarketing lead lists, bad pitches are the number one cause of drop offs in this point of the funnel.
Understand Your Customer
Why does your customer buy your product? What are their pain points? How do they use your product? The more you know you target market the better you can [score your leads] to determine where best to focus your efforts.
Targeting also allows you to tailor your message specifically. The more targeted your telemarketing campaign is, the better your closing rates will be.
Create A Pleasant Phone Experience
Make sure the customer is getting as much out of the call as the seller. A brand has its own language and set of values. Project your brand’s message in your pitch. Your customer will only be as enthusiastic about your brand as the person on the other line. Be about something and people will respond.
Know your customer’s problems and be the solution. Be detailed on how your product can be the answer the customer was looking for this whole time.
Set boundaries and make it easy for them to say yes. Boundaries such as limited time offers helps the buyer make decisions by eliminating the paralysis that comes with having to make too many decisions.
Keep Leads Warm
Even if a lead was not ready to buy right away, following up with an email or second phone call to answer their questions or deliver an offer can convert better than a high pressure pitch. Keep lines of communications open and light the path for your customer to come back to you.
Track Your Progress
Tracking the progress from purchasing your telemarketing lead list through the buyers journey can not only help you discover the problems in your funnel, but also illuminate you to new possibilities such as potential new markets or new ways to sell your product.
There are many CRM products out there that help keep track of the lead to customer process. If you are not already using one, it is essential to any businesses looking to grow their sales through telemarketing.
Cold calling remains a great way to increase sales, otherwise it wouldn’t be so popular. Sticking to these guidelines will help your business become more successful with your telemarketing campaign.