The Metrics of Inside Prospecting Revealed
If you quizzed your sales force and asked them, “What’s the absolute worst part of your job?”, we’re pretty sure the answer would be “cold calling.” To the average sales person, cold calling is as much fun as gargling nails. Cold calling requires time –time your sales personnel don’t have. The high percentage of rejection that is inherent to cold calling can be incredibly de-motivating. Plus, there’s rarely immediate financial gratification in cold calling, a high motivator for the sales rep personality.
Even if you somehow inspire your sales force to make the initial (brrrr!) calls, studies have shown that they will probably give up way too soon. In fact, some statistics suggest that it can take from 3 to as many as 15 “touches” to cultivate the kind of qualified lead that results in a sale, particularly with a long sales cycle like technology products has. Depending on the accuracy of your contact information, it could take between 8-12 hours to complete the calls required to turn a single lead into a true prospect. And that huge effort stems from starting with a list of at least 60-90 contacts.* Your highly paid IT sales reps don’t want to waste their valuable time like this – nor, frankly, should you want them to do so.
A bit of a Conundrum
O.K., so we agree that proper prospecting takes patience, tenacity and a ton of time, which we all know is always in short supply in a dynamic industry like technology. But you still know there are potential clients out there waiting to buy your products and services. And you need to sell.
So what are your options? If you hire additional staff, you face increased overhead (salary plus benefits), plus the cost of training. Let’s not forget that turnover rates are high. Studies show that as many as 40% of those new sales people you take the time to hire, train and nurture might not even make quota their first year.
And here’s another hard reality. If you have an average close ratio of 10% (i.e., the percentage of closed business to the number of appointments), it would take about 1600 “dials” (calls) to cover a list of 500 IT contacts and about 88 hours to complete those 1600 calls. And, after all that effort, you’d generate about 10 appointments, yielding JUST ONE new piece of business.*
Sound like an uphill battle? There is an answer: Look to an experienced outside technology telesales team to handle the upfront prospecting and help you grow your business.
We Become Your Partner
TSRI’s demand generation solutions are finely honed and proven to create better results at a lower cost than it takes to handle prospecting internally.
Our demand generation team is manned with articulate, intelligent, technology-oriented telesales professionals, who are supported with ongoing product/service training and an outstanding sales automation system (TrackonIT®) that keeps them efficient and effective.
With our extensive experience in all facets of the technology channel, we keep up with rapidly evolving nuances in the marketplace gleaned from first-hand experiences with technology leaders across the country. We create customized calling scripts that reflect this knowledge and use our expertise to set appointments, secure seminar attendance, etc.
With the tedious and time-consuming task of prospecting off their plate, your existing sales force focuses on the areas where they’re more comfortable – finalizing sales from opportunities we help you generate. You earn business and your employees stay happy. And satisfied employees mean more productive employees, with less staff turnover.
We Close the Loop
Our job is to relentlessly ensure that no viable leads slip through the cracks. We provide an extra layer of insulation to ensure leads – whether from a database we develop, from your database or from a manufacturer’s partner portal – are handled with kid gloves. Overcoming hurdles is simply part of the job. We address pain points until we’re sure that the lead we hand you is ready to blossom into a client.
Case in point: By early 2010, TSRI had already provided 20,000 outbound sales calls on behalf of a global technology giant based out of Michigan. The company relied on TSRI for at least 80% of their partner portal leads. Working with one of these lead lists we managed to generate 46 appointments (the goal was 16!). The company’s dynamic own sales team was able to capture closed business of over $1 million and an estimated pipeline of more than $3,000,000.
Consider partnering with a proven team of experts in lead nurturing, demand generation and audience acquisition to energize your sales pipeline and increase the bottom line impact of your marketing efforts.