THE SUCCESSFUL FORMULA FOR A PROFITABLE OUTBOUND SALES CAMPAIGN
A common question that many start-ups often ask is the ways by which they can handle B2B outbound sales. It isn’t the easiest of things to do because ideally there is no magic formula which could push your sales phenomenally. So, how do you really push your outbound sales? You will have to constantly put in hard work and efforts and you need to be patient enough to keep on pursuing these steps.
However, the big question is why you even need to be bothered about outbound sales as far as your start-up is concerned.
The journey of a start-up isn’t very smooth. When a start-up just ventures in the world of business, there are plenty of different steps that has to be carefully executed. The kind of networking which the firm can manage, the press exposure, the inbound links, the marketing strategies are few of the common points which all start-ups work upon.Initially, the start-ups are
upbeat because they believe that they can find a great market and will be able to taste instant success. However, not everything always goes as planned.
When the reality finally strikes, they understand how deep the troubled waters are. As a start-up, the struggle can beterrible. When you will need to pitch your products to businesses who don’t even know your existence, you need to put in extra efforts and convincing and procuring new clients might not be the easiest tasks to do. This is exactly when a start-up begins to explore the realms of outbound sales.
Products and/or services that can be sold via outbound sales can reap massive dividends for you. The primary goal of outbound sales team is to first of all find the formula that truly works.You will have to ask a lot of different questions , the likes of which may be, “how to procure a steady stream of quality leads which could help in good outbound sales?” or maybe even “how to aptly mix cold emails, research, lead generation such that you can achieve a great number of outbound sales?”
If you are looking to sort out this mess, you need to implement the following four steps and it is likely to help you create a successful campaign of your own.
Compile Your Outbound Leads
Don’t make the mistake of emphasizing quantity over quality. It is important to have your lead lists well formulated, and manageable.Sales representatives hardly have time to investigate every single lead. This is why the focus should always be upon building smaller list with clear and well defined attributes. Try to sell your leads one at a time. This sends out the right message as your sales team will be able to get a clear picture of how your vertical works and the market demand and reaction for your product list. The results which you will get from different lists will help the sales team analyze the conversion rates and thus it helps them target segments much more efficiently.
You can always use a lead generation team and make sure to collaborate with your sales team to know that you are getting the right leads. With an efficient and well planned targeted list, it will be easier for the sales team to pitch the right marketing ideas to your prospective clients.
The Cold Call
When you are building on an outbound sales campaign, often the cold call strategy can play a crucial role. In a few cases, cold calling can be truly effective but mostly it is seen that sending out an email first looks to be a better solution.
Make sure that you really understand the cold call strategy. Don’t confuse your prospective clients and try and explain the purpose of your call. The initial few minutes of a call can be very hard to explain because you may lose on clients during that span. Explain your reason for calls and how you intend to offer the right services. Don’t forget to be courteous because you need to ensure that you stay in the good books of your clients. “Is it a right time to talk?” or even “can you please spare a few minutes as I would like to explain how this scheme could benefit you” seems to be two great starters for a cold call.
The Cold Email
As a startup looking to sell your products and/or services, you really need to master the art of sending cold emails. The predictable revenue approach can work wonders for you. If you are not aware of what this terminology means, it refers to the strategy of sending email to someone who is a senior to your real target. You could ask the senior for a referral and then you can target your prospective client and state that you came to them as a referral from his senior. This has greater chances of success because the credibility factor increases as your prospective client has his/her senior referring the product.
At the same time, the golden rule is to not spam your client. Don’t send chain mails to too many people. Learn to trust quality over quantity.
Empower The Data
Hard core data is what really sells. There is no way assumption and guesses can take your firm forward. When you want to have an outbound sales campaign that is thoroughly successful, you will need to channelize data in an apt manner. Make sure that you are documenting all strategies and keeping a track of them as well.
Try and document everything down and it will make it easier to track the progress you have been making, the areasofconcerns, the areaswith good profits. Brainstorm your ideas and try to trace how realistic your expectations are. Some of the questions which needanswer are as follows.
• How many deals would have to be closed everymonth in order to earn substantialprofits?
• To close that many deals, how many opportunities would have to be generated every month?
• In order to procure that many opportunities, what would be the number of conversions you will need?
• To get that many conversions, how many leads have to be contacted every month?
• Finally, to contact that manyleads, what would be the number of leads to be generatedvery month?
This is the reverse funnel approach and you can set the answers weekly too. Make sure to have a reasonable expectation and a practicalapproach which can be accomplished.
Understand these points and implement it. Stay patient and keep tracking your growth. If you work on these aspects and you are constantly trying,your outbound sales volume are sure to improve, but do not expect overnightgrowth as not all start-ups can reap gold in a fortnight.
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