B2B Demand Generation – Cold Calling is Not Dead but You Need To Be Smarter!

We get asked all the time “Is cold calling dead?” for B2B demand generation and lead generation.    The answer is a definitive no!  However cold calling (aka telemarketing lead generation) is not as cost effective as it once was.  Telemarketing lead generation in isolation is a risky bet.  This blog addresses how as a B2B Demand Generation company and sales process consulting firm we have had to shift our approach to outbound cold calling and B2B lead generation.  Here is what the numbers tell us:

  • On the down side…In 2011 our average call (time a rep picks up the phone)  to connect (times a decision maker picks up the phone) ratio was between 7% -16%  (depending on the Industry).  In 2008 it was between 12% – 21% (once again depending on the Industry).   Calls to connect are 30% to 50% less effective getting someone on the phone.   This is driven in part by better screening technology but it is primarily driven that with downsizing there are less decision makers, doing more work so they have less time to pick up the phone.
  • In 2011 our average call to meaning full conversation is unchanged and prospects willing to accept information has slightly increased 0.5%.  In 2011 our calls to conversions into a Sales Accepted Lead is only down 2%-4%.    Sales Accepted Lead to Sales Qualified Lead is virtually unchanged although they take about a month to a quarter longer to move.   What this tells us is that cold calling is still effective when your call is picked up. And once you connect you patiently stay on top of the lead systematically.

To our mind there is no better way to target your ideal customer if you are convinced your product or solution will meet their needs because you get to decide specifically who to target.

What to Do:

It all comes down to maximizing the efficiency of your more senior reps by being smart. Here are a handful of increasing the success of your outbound B2B demand generation efforts.

  • You need to build and ideal customer profile prior to purchasing a list.  Garbage in means garbage out.  Support your B2B lead gen reps.
  • Spend a little more money on your lists and spend time scrubbing your list.
  • Craft a solid voice mail pitch with a compelling offer for your B2B lead gen reps to push.
  • Put a junior resource on new lists to verify phone number and direct lines.  Leverage content as a surrogate for domain expertise and your senior sales reps.
  • Automate your sales follow up with a drip marketing campaign.  You are paying good money so nurture what you have. B2B demand generation requires nurturing to maximize your investment

What to Avoid:

  • Forget to follow up with your existing warm pipe
  • Not measuring the production or non-production of every cold call your B2B lead generation rep makes
  • Holding your B2B lead generation reps accountable for daily, weekly and monthly lead gen call volume targets
  • Rewarding your outbound lead gen team for anything but Sales Qualified Leads.
  • Not following up with additional educational content

If you have any questions or feel like a conversation makes sense to learn how Gabriel Sales can help you pull together a more effective demand generation program whether you are  mid cycle or building a new effort feel free to CONTACT US.

For a quick look at what a B2B demand generation engine looks like to get a sense if you could benefit from some quick sales and marketing automation process consulting we invite to CLICK HERE you to check out our short 4 minute video.

B2B Lead Generation Fundamentals – Soft vs. Hard

B2B Lead Generation Fundamentals – Soft vs. Hard

Lead generation sales and basics

B2B sales companies have come up with a variety of ways to generate more leads, and building a successful campaign requires that companies carefully and strategically choose a method that addresses their specific goals.  As an outsourced sales, and outsourced marketing firm this is part of our series to educate customers not experienced in sales and marketing with some of the B2B Lead Generation Fundamentals to help them make an informed decision about outsourcing to generate leads.  This blog discusses the differences between hard and soft generation methods, as well as when each is appropriate for use.

If you would like meatier content on Lead Generation we invite you to visit our knowledge center devoted to B2B Demand Generation.

The first thing to do when coming up with a generation strategy is to clearly articulate you goals.  These should be both quantitative and qualitative.  How many leads are you trying to get?  What kind of sales to you need to generate?  Who is the audience you are trying to focus on?  How early or late in the sales cycle do you want your leads to be? What are you willing to pay for a lead?

These questions are important to ask because how you choose to generate leads will affect the number and quality of your leads.  Soft strategies tend to generate large numbers, while harder strategies tend to generate a higher quality.

The Soft Offer

Soft offers pull in high numbers with an incentive that has very little perceived risk.  If you use a sweepstakes type strategy, and offer free tickets to the Super Bowl, you are likely to get an unprecedented number of respondents.  However, most of these leads are likely to care more about football than your product or service, and few will convert to qualified leads.  One example of a soft offer that we have seen work is gift cards or a free iPad.  As an outsourced lead generation company we have found that this is sometimes a great way to generate a quick opt in database..

This method should be used when companies are looking to get leads earlier in the sales cycle.  It also requires more time to weed through the large numbers to find qualified leads.  This approach is best when trying to jump-start your sales or create a lot of activity.

The Hard Offer

Hard offers produce fewer respondents, but the leads that are generated are much more likely to be qualified.  By offering something that has a slightly higher risk, or involves some type of commitment, you are likely talking to someone much further along in his or her sales cycle.  Hard offers can include invitations to webinars, an audit, a consultation, etc.

Use hard offers when you want to target prospects further into the buying cycle, or do not have the time to weed through large numbers looking to qualify.  The leads you generate with hard offers are much more likely to convert to closed deals, so take this into consideration when engaging with them.

When it comes deciding which method will be most effective for your company, knowing who you are talking to is key — A hard offer is appropriate if trying to target buying executives, while you might want to try a soft offer if you want to talk to marketing teams.  Figure out the type of lead you want and determine what is valuable to this type of person. If you can make your offer appealing to your desired leads’ interests, your campaign is likely to be successful.

Gabriel Sales has over 12 years of experience as an outsourced generation company.   For more B2B lead generation fundamentals please feel free to visit our Blogs on Sales and Content Basics.

5 Additional Benefits of Sales and Marketing Outsourcing for New Product Launches

As discussed in our Series on Aligning Sales and Marketing  with smart outsourced b to b demand generation,  our core job as an sales and marketing outsourcing company  is to fill the pipe with sales qualified leads.  Then with an outsourced sales engagement our job is to close that business. To do this we are required as an outsourced inside sales team to support or execute to the following marketing goals and objectives.  And we are also tasked with creating the following deliverables to ensure our clients success (which are significant value adds) for our New Product Launch sales outsourcing clients:

1.      Creating a Marketing Qualified Database of Customers – As part of a launch we consult with our clients to go after a very focused set of targets.  By the time we are done your core market will know who you are, what you offer and what makes you different.  The market will be ‘branded” and profiled so that your marketing team can continue to nurture the right accounts “not yet ready to buy” and ignore those accounts that will never transact.

2.      Digital Sales Content – The quickest way to create “sales” content that will move the deal forward is to leverage digital platforms with authentic content that supports what prospects are being told by sales reps.  This can be short video clips, quick blog posts and webcasts.  By the time we are done with an initial campaign your content will be tested and proven (or dis-proven) and can continue to be used by the sales team or additional channels to drive efficiencies and accelerate pipe velocity. You have created content that you know works.  These messages and initial content can be shared with a creative agency to polish and refine.  It can then be taken to the mass market or leveraged with a publisher as part of a media spend.

3.      Tested Messages for Direct Marketing Team –  As part of our initial B2B demand generation efforts we will have tested messages,  tested pains  and tested some nurturing campaigns. You will know what messages will drive opens (and ideally conversions) as you decide on how and what to budget for direct marketing,  pay per click and SEO efforts.

4.      Sales Process Map –  As we build an outsourced b 2 b demand generation and sales outsourcing solution understanding the key events in a buyers cycle is critical.   Once this is mapped and proven this map can be used for creating a longer term digital content strategy and social media outreach campaign.  The map can also be used to set work flows in a a marketing automation platform for lead nurturing campaigns to reduce your inside rep head count costs as the pipe grows.

5.      Ability to Forecast the Sales Cycle –  As we are measuring all the key success metrics, as deals flow through the pipe, we are also able to start evaluating the key buying signals for the client.  This data is also anchored in cold call metrics. This allows our outsourced sales partners to understand what causes and a customer to move. It also helps them to understand when a customer is moving from “educating” themselves to getting serious about ‘making a decision and evaluating vendors”.  We provide hard data that helps our clients to decide what digital content is most important to invest time and effort developing with a publisher or creative agency.

For more information on the additional strategic benefits of working with a sales outsourcing company like Gabriel Sales, and what we can do to put deals in your pipe with a b to b demand generation program, please feel free to CONTACT US.  For additional strategies and tactics you can leverage for a New Product Launch  feel free to visit our Resource Center dedicated to Go-To-Market approaches.

My Sales Force Can’t Sell – Now What?

In the technology industry, having a great new product is no longer enough.  You need to know how to get the information about it into the right hands to close deals.  In order to make this happen, you need a clearly defined sales strategy that sets you apart from the competition.

Once you have your new product ready to launch, it’s time to start selling. Your sales team needs to fully understand both the product and the current conditions of your target market.  They need to understand the benefits and strengths of your product, and be prepared with answers to possible sales objections they may be faced with.

If you’re not sure how to make this all happen, outsourcing your sales and marketing may be a viable option.  A sales and marketing outsourcing company like Gabriel Sales can help you improve productivity, increase revenue and grow your business.

A Sales and Marketing Outsourcing company allow you to:

  • Have access to a team of experienced sales professionals working directly for you
  • Understand your target market and build a custom ideal customer profile
  • Spread media content about your product efficiently and effectively
  • Have access to sales professionals already experienced in the markets you wish to sell to
  • Stay ahead of the competition by constantly pushing relevant sales content through your pipe

Outsourcing sales and marketing may still sound like a foreign concept to some. But, many companies, especially in the high-tech industry, are finding that outsourcing sales has increased revenue and growth both during and after new product launches.

Sales and marketing outsourcing companies help put a sales strategy in place that understands your specific needs as a company, and sets up a process that will quickly and efficiently close deals.  If you are interested in learning more about how this process works, feel free to contact us for a free pipe velocity review.

Some Things Sales Outsourcing Can’t Do

sales outsourcingThe services provided by a B2B sales outsourcing company often span a diverse and wide range.  However, there are limitations to what they can do, and problems they cannot solve for you.  While sales outsourcing companies increase revenue, expand sales and grow business, they cannot solve any and all problems with your business.

Here at Gabriel Sales, we have found limits to what services a sales and marketing outsourcing company can provide.  Here are three things we cannot do:

Lower Costs.

When using an sales outsourcing company, you reap what you sow.  Over our 12 years of experience in the sales industry, we have come to understand that the type of work we do is of extreme value to our clients.  And our sales and marketing services are not cheap to execute.  While the long-term results of a sales outsourcing partnership may indeed succeed in lowering your overall costs, it should not be expected up front.  Sales outsourcing should be taken on by companies looking to grow and expand, rather than those simply trying to cut costs.

Solve in-house political issues.

We aren’t magicians; we can’t make everything better.  If your company has in-house problems, such as poor management or communication between team leaders, we probably won’t be of much help.  We cannot help people who are unclear about their needs or goals.  Only when there is agreement and consensus between members of a company, is it possible to grow and expand.

Sell an unsellable product.

During our many years of sales experience as outsourcing sales and marketing company, we found out that some products or services simply won’t sell.  If your product, service or technology is not ready for market, hiring us will not make it sell.

If you are interested in learning more about the B2B sales outsourcing services we provide, please contact us for a free pipe velocity review.