This is a question that has left a lot of marketers scratching their heads. And it is a good question. How does one know when to begin a new appointment setting campaign?
After all, when it comes to such campaigns, you need to be sure that you are not creating a glut in the sales pipeline, essentially making it more difficult for your marketing team to convert sales leads into actual business deal. You also do not want to be too slow that there are periods of sales droughts in your funnel. Just to be sure, you need to keep an eye on five key indicators that you have to restart or revamp your lead generation efforts.
- Lack of prospects to nurture – looking at your calendar, you might notice large patches of empty days, where there are no potential B2B leads for your telemarketing team to contact or nurture. When this occurs too often consecutively, it either means your current source of customers have dried up or your sales team has become slower. See where you can improve your numbers.
- You have no ready replacement for a lost client – yes, it can be painful to lose a client, but it could even be more painful to you if you do not have a ready replacement for the one you have lost. It is a huge loss for your profits when a client leaves you, so you need to make sure that you have a sufficient buffer to deal with the loss, or you have to have a new source of income for your firm. Either ways, you have to ensure that everything is working properly.
- Your deals are getting stalled – all right, while this is expected when nurturing B2B leads, if it happens too often for comfort, then you might have to take a closer look at your lead qualification process. Sometimes, being too strict on a certain opportunity can be more costly than taking it in and turning them into a business client. It may also be possible that the business leads you are generating are not the right fit for your company.
- There are too many small deals – all right, we all know how profitable niche marketing can be, tapping into small clients to capture a greater share of the market, but there is a reason why bigger is better. The cost of producing the same products or services spread over multiple clients is usually greater than the cost of providing the needs of only one customer. So, you might want to take a second look over those small deals that look so tempting to close.
- The market is saturated with your business – there is a saying that goes like this: ‘having too much of a good thing’. Sure, it is nice to get a bigger share of the market, but saturating it with your customers will not do well for you in the long run. There is such a term as ‘product fatigue’ which never does well for a company when it happens. Try looking for other markets to enter.
If you see any of these signs of your business, then it really is time for you to do some overhaul in your appointment setting campaign.