Posts

A Visual Guide to Telemarketing Performance Metrics [INFOGRAPHIC]

A Visual Guide to Telemarketing Performance Metrics [INFOGRAPHIC]

Telemarketing boosts marketers’ performance by delivering leads at scale and producing results in real-time. Given this channel’s current function, the success of today’s telemarketing campaigns, argues Robert Howells of the Global Marketing Associates, hinges on better use of data.

Related: Telemarketing 101 in Australia: Maintaining Pleasantness throughout the Call

One crucial data-related aspect that needs a major rethink is telemarketing performance metrics. As the channel evolves, so do the yardsticks used to measure performance. Today’s marketers rely on a dizzying array of metrics and indicators to gauge how well each component of their strategy is working, including telemarketing. Modern telemarketing performance metrics help marketers answer five key questions about their campaigns:

  • Database Quality – Is your database accurate and relevant?
  • Activity and Volume – Are you making the right number of calls?
  • Reach Rate – Are you talking to the right people?
  • Conversions – Are calls driving the desired action?
  • Costs, Revenues, and ROI – Is your campaign making or losing money?

These are the five areas to look at when evaluating telemarketing performance—whether you’re running campaigns in-house or outsourcing to an agency. In this post, we’ll go over the important telemarketing performance metrics to keep track of under each category and find out how to make informed decisions based on the numbers.

A Visual Guide to Telemarketing Performance Metrics

Transcript:


Database Quality – Is your database accurate and relevant?


Overall List Health

The ratio of known errors to the number of records. These errors include missing values, duplicates, invalid contacts, data entry errors, etc.

Segmentation Fields

The level of segmentation a list allows. Does your list contain valid industry codes, job titles, etc.? How well do the segments match your target buyer profiles or personas?

List Penetration Rates

The number of positive contacts, conversations with decision makers, and the number of conversions your campaign generates.

New Information Gathered

The amount of new information obtained or verified through phone calls. How many new records were you able to add? How many fields did you update or verify?

Related: How many times should you have your business database cleanse?


Activity and Volume – Are you making the right number of calls?


Calls per Hour

This metric indicates the average rate at which an agent or rep places calls. While high calls-per-hour figures are generally a good sign, the quality of each call matters more than quantity alone.

Average Call length (Average Talk Time)

This is the average amount of time an agent or rep spends on each call. To make meaningful comparisons, make sure you take factors like the length of the call script and admin work required.

Occupancy Rate

This metric refers to the time an agent or rep spends on calls versus the time spent between calls. Occupancy rates tell you how productively agents allocate their time.

Calls per Record

According to data cited by HubSpot, It takes 18 calls on average to actually reach a B2B buyer.


Reach Rates – Are you talking to the right people?


Positive Contact Ratio

The percentage of dialed records where agents are able to speak with the target contact.

Related: 4 Ways to Get Past Gatekeepers and Reach Prospects Every Time [VIDEO]

Abandonment Rate

The percentage of calls which aren’t picked up by the target contact.

Unique Decision Maker Conversations

This metric gives insight into data quality as well as lets you compare initial contact versus callbacks and follow-ups.

Requests for Information (RFIs)

This metric looks at how many positive contacts asked for materials about the offer or company.

Not Interested

A very high number of not interested prospects can mean you’re targeting the wrong audience, but it can also indicate that agents are doing a good job filtering unqualified leads.

Related: How to Handle Early Sales Objections, According to Science [VIDEO]


Conversions – Are calls driving the desired action?


Lead Conversion Rates

This is the percentage of decision makers reached that qualify as leads(schedule a face-to-face meeting, sign up for a free trial, verify some information, etc.).

Call-to-Close Ratio

This is the percentage of telemarketing-generated leads that actually convert into paying customers.

Calls per Outcome

This metric tells you how many calls it takes to get a result (conversion). Calls per outcome measures how efficiently a campaign generates results and you largely want to minimize this metric.

Related: Top 10 Proof that Outbound Efforts Help Close Deals in Australia


Costs and ROI – Is your campaign making or losing money?


Cost per Lead and Cost per Opportunity

This is the total costs incurred in the campaign divided by the total telemarketing-generated leads (or opportunities).

ROI

The revenues attributable to the channel divided by the total telemarketing costs. This is usually estimated through attribution models such as first touch, last touch, weighted, time decay, linear, and position-based attribution.

Sell Big In Australia Even If You Are Small - A B2B Lead Generation Perspective

Sell Big In Australia Even If You Are Small: A B2B Lead Generation Perspective

“We all have to admit, selling to large companies can be a real challenge.”

Just imagine how hard that would be if you are a small company conducting a B2B lead generation campaign. The competition can be intense, not to mention the possibility that what you have is not what big name businesses are looking for. Getting qualified sales leads out of these companies are pretty much a challenge, more like a sure failure. But that is just at the surface. If you can properly analyze what you need to do, then you will realize just what you should be doing to make it work.

Create a sense of urgency.

Yes, urgency. This is the one strongest element that compels potential B2B leads to make a purchase or sign up with your company. If you can make them feel that what you offer is available for only a limited time, and if you can covey to them the importance of making a purchase, then you can make a sale or deal happen. And no matter what business or industry you belong to in Australia, this sense of urgency will get you the sales you are looking for. Mind you, this is not something that came off the top of my head. This answer is grounded on practical observation.

I mean, look at infomercials these days. Why do you think they still earn a lot of money, even now? It is because they succeed in relaying that sense of urgency to your prospects. The same is true even if you are not selling at all. For B2B appointment setting campaigns, conveying a sense of urgency to your prospects is what compels them to act according to what you say. Your marketing campaign’s success will depend on your team’s ability to create urgency in whatever you say or do in front of your prospects.

You can do that in a B2B telemarketing campaign. Give your business prospects a call, let them know what you have to offer them, offer them something good. Lay out the benefits that they will enjoy if they make a deal with you. And make them aware that your offer will not be around for long. Not that you are trying to coerce them or something, but more along the lines of availability of supply. In case you are offering software programs, add in some services that are time-constrained, like installation or customization by your own personnel, priority delivery for those who purchase immediately, additional services, etc. You can use anything that will get their attention and create a sense of urgency to those who will be listening to you.

Now, if you think that your own marketing team is not really up to this kind of strategy, you can always ask the help of professional B2B lead generation agencies. There are a lot of them around. You just have to choose the ones that will work well with you and your team. That may require you to invest more time and effort, but the returns in terms of B2B leads generated would be worth it.

graphic illustration of telemarketing team

Secrets In Better Telemarketing Team Retentions

Here is the deal with B2B telemarketing: you simple lose too many employees in the course of many campaigns. Turn-over rates and work dissatisfaction can be high, which explains why only a handful of people would actually stay and keep looking for sales leads. This is a real headache for many managers, since getting employees to stay is also an important job. So, how does one ensure that employee retention is good? There are several ways to do just that. And really, if you think about it, this is no secret at all. It is just that only a handful of people actually know that this would work.

So where will you start?

Let us deal with skills improvements first. Despite what you see, money is not the real motivator for your B2B appointment setting team. It is with regards to improving and expanding their repertoire of business skills. This is something that no money can take place. And this is precisely what will compel your employees to stay with you. With the world of business in a constant state of change, you have to prepare your people for the challenges that they will face.

Another thing that you have to remember is that you have to keep open channels of communication with your employees. You may have given them specific instructions on what to do, but a lot of things can change in short notice. In order for you and your team to adapt quickly, you need to maintain open channels of communication with them.

Third, try to ensure that everyone can advance in the company. In one way or another, tell your B2B lead generation team that they can go higher with you. It may not have to be outright promotions, but you can always employ other tools, like bigger salaries, more responsibilities, and the like. These are very powerful tools for promotion that you should not take lightly. It can even be better than the usual perks or vacation offers for the best employees.

Next, maybe you should take a closer look at your own management style. It may not have to be that dashing or something, but it should be a style that plays on the strengths of your business and yourself. You need to know how to best lead your people, and not just pulling them around and telling them what to do in generating sales leads. That would have been really unproductive.

Lastly, you should help your employees reach a work-life balance. You know that it will be difficult for your employees to leave their problems at home and concentrate on their B2B lead generation task. Help them adjust to work as well as the needs of their homes. Your employees will appreciate that and will make them less likely to leave you.

Of course, if lead generation skills are what you or your marketing team lacks, then maybe leaving the job to outsourced marketing agencies would be a good business strategy for you to take.

2 business representatives doing a handshake

B2B Telemarketing

by: Mahavir

The major advantage of third party b2b telemarketing companies is their ability to use dozens of telemarketers to get your message out quickly. Unless you have a fully-staffed internal b2b telemarketing division, outside firms will make thousands of calls in a relatively short time frame compared to what you can do in-house. However, b2b telemarketing services firms tend to be expensive and lack selling skills; they are limited in engaging in dialog about technical products or services and are better suited for information gathering, appointment setting and “yes or no” types of campaigns. And unless you supply the telemarketing list, telemarketing firms have a history of using poor quality b2b telemarketing lists.

There are advantages to using an in-house person for your business-to-business telemarketing efforts. People staffed by your organization can be trained in sophisticated selling techniques, so that they will be familiar with the technical aspects of your product and can engage in more extensive dialog with potential clients and pass on telemarketing leads to your sales staff instantly. Also, when the telemarketing efforts are done internally, you control telemarketing list buys, and can be more diligent on which lists to use.

But, as we mentioned earlier, small businesses rarely have enough people on staff who can provide telemarketing services on an ongoing basis. A cost-effective alternative may be to hire college students, retirees or part-timers and train them on a specific telemarketing project. And here’s a training tip for you… if your telemarketers are going to be reading from a script, have them practice sounding like they are improvising. Knowing that the person on the other end of the phone is reading is a sure turn-off and can hurt your response rate.

In short, both internal and external b2b telemarketing services has its benefits. Regardless of which direction you decide to go in, make sure you have the right telemarketing lists. It’ll make all the difference in the world.

Next, the b2b telemarketing company quickly recruits some people to do the actual cold-calling whose qualifications include something like showing up for the interview and smiling a lot. Or they ask a temp agency nearby to send over some people who have been through a similarly rigorous screening process. Next, they dust off an ex-client’s script, change a few words, give it to the newly hired business-to-business telemarketing reps and say, “Start calling.”.

Hire a top-notch B2B telemarketing company. Look for a company with a proven track record of calling into the same industries and the same titles as you will want them to be calling on your behalf. Thoroughly check references and insist that the b2b telemarketing services appointment setting company assign experienced callers to your project. Then both you and the firm must invest time and effort in creating call guidelines (rather than a verbatim script) and training callers on the unique aspects of your business and your prospects. Finally, give the callers a well-targeted list of prospects to call, and have them start dialing.