Technology is constantly changing, and businesses are becoming more and more dependent on technology to run their sales process more efficiently.
Sales force automation technology automates time consuming tasks and provides access to sales activities to adjustments can be made quickly. CRM technology allows sales employees to access up-to-date, relevant prospect information at any time. Mobile technology enables instant access to tools, contracts, etc. from anywhere.
Because of technology we are operating at a faster pace, more efficiently, and smarter. But there is no technology that replaces human interaction. For B2B buyers, relationships and direct engagement are more important than ever. Here are the key roles that a personal touch plays in the sales process:
The human touch allows you to uncover needs and align what you have to offer with what they are looking for – finding the fit.
Speaking with the prospect gives you the opportunity to answer questions, demonstrate value and bond with the buyer on a human level.
The human touch is the only way for business relationships to solidify and grow. People do business with people they know, like and trust.
Calling a lead can be the single largest driver of conversion. For example, a sequenced approach that keeps your company present in the buyer’s mind is an effective way to stay top-of-mind.
A customer-centric sales experience provides a competitive advantage. While your competitors are using technology to reach out to prospects, you are able to deliver real value using a customer-centric, consultative approach.
Human interaction leads to the sale. Prospects who make a purchase interact with a salesperson in all phases of the decision-making process*.
By integrating sophisticated sales strategies with technology, salespeople can achieve a new level of sales results that cannot be achieved through technology or traditional sales methods alone.
Only when sales professionals are able to harness the power of personalized, human and relevant engagement are they able to achieve or surpass their sales goals.
Start the New Year off right with a resolution to avoid unrealistic expectations for your cold calling efforts in the coming year. This may seem straightforward, but setting realistic expectations actually requires quite a bit of consideration about your company and the marketplace, as well as understanding the process. Answer the following questions and then you’ll be able to set realistic expectations for your lead generation campaign.
About your company and what you sell
What are your goals?
Where is your revenue now and where do you want it to be in 1 year? In 2 years?
What are the biggest opportunities and the biggest threats to your business?
Does your brand communicate a unique and powerful message?
About the marketplace
Who is your target audience? How would they best learn about your company?
Who are your competitors? What sets you apart from your competitors?
What is the greatest flaw in your industry as your prospects may perceive it?
What is your value proposition? What does your company offer that is considered value-added?
Why do customers buy from you?
About the process
Has your sales team been trained on these key areas about your company, your audience and your competitors? An effective campaign cannot be realized without imparting this information to the team.
A call campaign takes 6-9 months to ramp-up. Do you have the patience to see it through?
Calling from a cold list requires scrubbing which increases ramp-up time. Do your expectations account for this?
Without answers to these questions, your campaign will fall short of your goals. A lack of understanding of your business means a much higher chance of things not going according to plan. Once you have gathered all this information, then you can set realistic time frames and outcomes. Cold calling, if done correctly, is an investment that will pay off in the long term.
We are all very attached to our electronic devices for email, text and social media communication. But when it comes to relationship building, picking up the phone and speaking to your prospect is the only way to go. Certainly, cold calling takes more effort than shooting off an email. It also takes practice and skill but there are many benefits in using phone conversations for lead generation.
Phone communication fosters personal relationships. There is no electronic media that allows you to build a personal relationship with a prospect. A personal relationship is key in cultivating and closing a sale. Phone conversations make building relationships easier.
Phone calls are an opportunity for the prospect to talk to you. People love to talk about themselves – to tell their story. If you do not give prospects a chance to do so, they feel unheard and sale will go nowhere.
Phone calls lower the risk of being misunderstood. Email lacks social cues like tone of voice, clear emotion and pauses, which can easily lead to your message being taken the wrong way. We may think we are interpreting the tone of an email correctly but in fact we often are not. There is no misinterpretation in a live phone discussion.
Phone or in person communication builds trust. People do business with people that they know, like and trust. Conversations generate honest discussions that emails cannot deliver.
Phone conversations provide constructive feedback. They give you a valuable insight which you can use to improve your solution and sales process.
Phone conversations are an opportunity for 2-way communication. How will you know if there’s a good fit between you unless you and the prospect can ask questions.
Phone calls are 10 times more likely than email to lead to sales*. Emails are more often than not considered spam unless they are directly relevant and the sender is someone known. No surprise that human interaction is more effective than email since salespeople have been around much longer than email has.
Cold calling is a proven way to warm up leads and secure face-to-face meetings. Lead generation working together with sales will deliver the best outcomes. It is a prolonged journey that focuses on process, vision and long-term goals. Lead generation requires patience. Taking a short-sighted view of lead generation sells it short on so many levels.
When evaluating ROI for cold calling, people often look at the number of calls made and the number of appointments obtained. The problem with this is that much of the value of cold calling is omitted. Combining this with several important factors will give a much clearer picture of the actual ROI from cold calling.
Every step of the process produces value so measuring ROI is tricky. There is added value in:
The targeted database containing accurate information
Consistent “touching” of the targeted audience
Relationships nurtured through conversations
Collected information for marketing strategy
Sharing updates with all parties in the process
The purpose of lead generation is to create business for the long term through engagement and by building the foundation for ultimate sales. When sales leaders take a short-sighted view of the lead generation process, it is detrimental to the sales outcome.
Instead of focusing on a wide top-of-funnel approach, think more strategically about targeting the right leads and accounts, and nurturing those for the highest qualified leads possible. This will set the stage for bigger and better things to follow. Look at the big picture, have patience and reap the benefits.
A customized prospecting list is critical for your cold calling campaign. Although every element of a cold calling campaign needs special attention, prospect lists need the utmost care. Selecting and cleaning your data can be tedious and time consuming but it will bring about rewarding results in the end.
Start your campaign with confidence in your database. Conduct a SIC code lookup for your target industries and personnel, and build separate lists to accommodate multiple industries. This will enable you to customize your approach and assess results by industry.
Regardless of where your data comes from, it will need to be cleaned before you begin the campaign. As much as 25% of the data could be missing or incorrect. People move between roles and between companies. In addition, some companies may be incorrectly classified within SIC codes, some may be out of date, or some records may be incomplete.
List cleaning starts with reviewing the data for errors in SIC classification, records that just don’t make sense like incorrectly formatted emails, and for missing pieces of the data. Eliminate those records that don’t apply then start “filling in the blanks”. If your source for the data doesn’t provide any further insights, missing data can be researched on online through LinkedIn, Google searches and company websites.
Cleaning your prospect list takes time and may delay the ROI of your lead generation campaign, but it is well worth it. Once you have cleaned your data, your campaign will progress more efficiently. You will be talking to the people you want to talk to and therefore it will deliver a higher level of engagement. The goal is to build a targeted and accurate database. It is well worth the effort to clean up your lead list because a good list leads to qualified appointments and lead nurturing not just for the short-term, but also for the future. Like anything else, it takes time and skill to do this.
Bad data is bad business, and there’s a cost to it –wasted time and missed new business opportunities. A finely tuned prospect list is your best sales tool.
Cold calling is a proven way to warm up leads and secure face-to-face meetings. Lead generation working together with sales will deliver the best outcomes. It is a prolonged journey that focuses on process, vision and long-term goals. Lead generation requires patience. Taking a short-sighted view of lead generation sells it short on so many levels.
