There are numerous tactics businesses need to employ to increase sales quickly, and cold-calling, also called telemarketing is one of the main methods.
Picking up the phone and dialing is not always easy, but like many other things in life, setting the right foundation before you start can help you avoid mistakes and make a big difference in the results.
Why Telemarketing Sometimes Fails
Sometimes, telemarketing doesn’t work. There could be various reasons for a failed cold-calling campaign. The main issues we hear about which cause telemarketing to bomb are:
- Unprofessionalism
- Lack of Knowledge
- Language Barriers
Sometimes, companies make the mistake of believing that anyone with a phone and a voice can pick up the phone and make cold calls. Technically, they can, but what’s the point if no new business results from the calls?
Budget-consciousness is a factor for most small business owners, but like with so many aspects of life, going as cheap as possible usually costs more in the long run.
When you choose someone to make your cold calls, don’t compromise. Maximize your effort and marketing dollars by only hiring telemarketers with a clear, confident communication style, understanding of your geographical market, and local economy.
They should also be smart enough to follow a process but able to think on their feet. Cold calls don’t always go as planned, and your prospects will not get excited by talking to a robot.
The Key To Cold-Calling & Telemarketing Success
Because our core service is outsourced telemarketing services, we know how important it is to start every outbound campaign with a plan.
Have you ever heard war stories about reps in their first sales jobs? You know the stories. The ones where a brand new rep gets to the office on the first day of work and the sales manager sits them down, gives them a phone book, and says, “Dial till you sell something.”
Occasionally, workers put in this situation will excel and end up having a long-standing sales career. However, most of the time, workers in this situation will quit before they can learn anything or bring their employer any revenue.
When you’re building business, time is of the essence, and you’ve got to move quickly, but starting with no plan will be counterproductive.
Set up your cold-calling agent and your business for success by ensuring that you have the following key elements in place before you press play on your telemarketing campaign.
The 9 Key Elements – Broken Down
1 – Market Research
Consider the basics. Where is there a demand for your product or service? Who are the people will benefit from it? Who are the competitors in your space, and how have they been successful? What do you do that is different or better?
2 – A Good System
You don’t have to invest thousands in elaborate tools or software. But you will need a well-structured database to keep track of your customer information, telemarketing calls inbound and outbound, and all sales activity.
It’s also best that you have a phone system that records calls and allows you to keep track of productivity.
3 – Targeted Leads
Earlier, we suggested that just picking up the phone book and dialing everyone is not the best idea. To be direct, it’s more likely to be a waste of your time than anything.
After doing some market research, you should have a good idea of the kind of prospects interested in your service. Build a list of these prospects. Specifically, you’ll want to identify decision-makers and correct contact information so that your cold-calling sessions are as productive as possible.
4- Calling Strategy
Having a telemarketing strategy is essential. For one, you’ll need to ensure it aligns with your broader sales, marketing, and branding strategy.
It’s crucial to ensure that you’re not calling too much or too little and that you comply with FTC/FCC regulations in all aspects of your outbound campaign.
5 – Call Scripts
Before making any dials, you need to know what you’re going to say.
Think about your main objective on each call. Is your goal to set an appointment? To collect information? Do you simply want to inform your prospect about your service?
Your script needs to help you meet your goal on each call, prepare you to answer questions, and overcome objections. If needed, use templates to come up with the best cold-calling script possible, test it, and tweak it as you go.
You can also ask other professionals in your industry if they have a proven script they’d be willing to share.
6 – Volume
Yes, telemarketing calls are most fruitful when you have a plan, but sales remain a numbers game at the end of the day.
Review your goals and consider, if you can expect a 2-5% conversion rate from your cold calls, do you have the right amount of targeted leads to achieve your desired results.
7 – Reporting
Having the right system in place will make reporting possible. Reporting is necessary because it will be hard to understand the results of your efforts without it.
If things went well, what did you do right? If adjustments are needed, where should you make them? These are the insights reporting will provide.
Your reports should track both productivity metrics and activity outcomes.
8 – Teamwork
All of the people involved in your lead generation initiative need to maintain a good level of communication.
Establish a way that’s useful for all team members to share best practices, market feedback, and progress updates.
9 – Goals and Expectations
Everyone on your team should understand the goals and expectations and agree that they will share accountability for the results.
There needs to be the same expectation that when team members hit their goals, they will receive recognition and reap the rewards.
You will need your team’s buy-in if you want them to be motivated, so ensure you discuss the goals with them and explain why you believe they’re achievable.
Ensure everyone in the project feels they have a voice. Get confirmation from each member that they think the goals you’ve set are realistic. If not, ensure they feel empowered to speak up.
Ready, Set, Go!
When it comes to telemarketing, sales, and growing your business, these are the basic elements you’ll want to have in place to see results.
You should know, however, that like most things, you will need to be patient. You’ll need to be consistent.
Every time that you cold call a prospect, you’re making an impression; you’re building a relationship.
If you choose to work with an outsourced business development company, make sure they represent your company just like they would their own. Ensure they provide the guidance and flexibility you need, and that their goal is to help you build your dream.
If you have any questions about running cold-calling campaigns for your startup or small business, contact us to set up a free consultation. We’d be glad to help!
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