Telephone marketing may feel a bit last century to some. It may be an irritation to others. Yet, huge global companies still use the phone to search for new business, increase existing client sales through cross-sell and up-sell, resuscitate lapsed customers, and to enhance customer satisfaction.
So, how can your business unlock the power of B2B Telemarketing?
Ignore False Assumptions
B2B Telemarketing sometimes gets bad press. This is perhaps down to the perception gained from unscrupulous B2C sellers using cold calling to dupe potential buyers. Fraudsters have also used the phone to damaging effect. And, poor quality callers can increase annoyance from those that receive poorly constructed sales pitches.
Despite this, reputable business continue to use person-to-person communication, such as telemarketing, to enhance their brand reputation, and to develop their sales pipeline. Why is that the case?
The Numbers Don’t Lie
The numbers don’t lie. And, the results are compelling. Check out the statistics below to understand why telemarketing should still form part of a B2B marketer’s toolkit.
- According to a study by InsideSales.com, phone calls are 8 times more effective at engaging decision-makers than email campaigns.
Whilst it’s still possible to block unwanted calls, and contact rates vary, phone calls are more personal and direct than email campaigns, which can be easily ignored or deleted. Decision-makers are more likely to engage with someone who can speak to them directly and answer their questions in real-time, which can help build rapport and trust.
- A study by BIA/Kelsey found that the conversion rate for B2B outbound telemarketing is 10-15%, which is significantly higher than the conversion rates of other channels.
Outbound telemarketing allows companies to reach potential customers who may not have been aware of their product or service before. Speaking with a live person can help answer questions and address concerns in a way that other marketing channels cannot, which can increase the likelihood of a conversion. For higher value sales, it may take time, but the wait can certainly be worth the effort.
- According to HubSpot, 78% of decision-makers have taken an appointment or attended an event as a result of a cold call, which indicates the power of telemarketing in generating leads.
Cold calls can be a powerful tool for generating leads because they allow companies to reach out to potential customers who may not have otherwise considered their product or service. Decision-makers are often busy and may not have time to seek out information on their own, so a proactive approach can be effective. That’s especially the case when you have something new, something of genuine interest, and/or there is a compelling reason for for prospective customers to change.
- A study by Rain Group showed that B2B companies that use telemarketing services to follow up on leads generated from other channels have a 50% higher conversion rate than those that don’t.
Not every call needs to be cold. Following up on leads generated from other channels (such as email, LinkedIn outreach or other social media) with a phone call can help establish a personal connection and provide additional information that may not have been included in the original message. This can help increase the likelihood of a conversion by addressing any remaining questions or concerns the potential customer may have. Failing to follow up events massively reduces their ROI. Therefore, a series of well-times calls can maximise the value.
- The DMA’s Response Rate Report found that the response rate for B2B telemarketing is 5.6%, which is significantly higher than the response rates of email marketing (0.6%) and direct mail (4.4%).
B2B telemarketing has a higher response rate than email marketing and direct mail because it is a more personal and direct form of communication. Decision-makers are more likely to respond to a phone call than an email or piece of mail, which can help increase the effectiveness of the marketing campaign.
These statistics highlight the importance and effectiveness of using B2B telemarketing services as a part of an integrated marketing strategy to generate leads, engage decision-makers, and convert prospects into customers.
Telemarketing shouldn’t be considered in isolation. You’ll benefit from its use being part of an integrated lead generation strategy. What’s more, a short-term approach, where you expect immediate results, probably won’t work. Telemarketing also won’t compensate for a proposition that is ill-defined, and an audience that is unlikely to take up your offer. So, think through your message, and audience. Work on your proposition. And, make sure that your callers present the professional face of your organisation.