Industry Secrets to Eliminate Cold Calling and Maximize Commissions

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Converting Leads by Stacking the Deck …

Converting Leads by Stacking the Deck

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  • 1. @ian_paterson Director of Insights Attention: Sales! ! INDUSTRY SECRETS ! to Eliminate Cold Calling !and Maximize Commissions!
  • 2. @ian_paterson WHY CARE ABOUT THIS? ! Director of Insights•  Increasing your contact rate means you need fewer leads to achieve the same sales! •  Cost of acquisition (CAC) goes down! •  Time spent cold calling goes down!•  Connecting early makes for an easier call! ü  Don’t waste time playing telephone tag, or re-explain why you are calling them! ü  Changes the dynamic of the call: THEY are coming to YOU!
  • 3. @ian_patersonAGENDA! Director of Insights1)  Follow up really fast!2)  Make phone calls easier !3)  Timing is everything!4)  Vary the approach!5)  Be persistent!6)  Leave a message!7)  Put it all together!8)  Top 5 Recommended Action Items!
  • 4. @ian_patersonFOLLOW UP FAST! Director of Insights InsideSales.com   YOUR ODDS OF REACHING A NEW SALES LEAD DROP OVER 10X IF YOU WAIT LONGER THAN THE FIRST HOUR.
  • 5. @ian_patersonFOLLOW UP REALLY FAST! Director of Insights “   T H E CONTACTING O D D S LEADS O F IF C A L L E D W I T H I N 5 MINUTES ARE 100X TIMES G R E AT E R . ”   InsideSales.com  
  • 6. @ian_paterson FOLLOW UP REALLY FAST • PROOF! Director of Insights “IN SOME INDUSTRIES, 78% OF LEADS BUY FROM THE FIRST COMPANY THAT CALLS THEM BACK.” – Leads360!InsideSales.com  
  • 7. @ian_paterson FOLLOW UP REALLY FAST! Director of Insights Don’t wait until morning!!“   LEADS RECEIVED AND RESPONDED TO OUTSIDE WORK HOURS (9AM - 5PM) WERE 11% MORE LIKELY TO CONVERT. ”   “   LEADS RECEIVED AND RESPONDED TO BETWEEN 7 PM AND 11 PM CONVERT B E T W E E N 4 2 % TO 94% BETTER. ”   Leads360  
  • 8. @ian_patersonMAKE PHONE CALLS EASIER! Director of Insights ?! “What company? Where are you calling from?”! “I don’t remember filling out any contact form…”!•  Calling immediately increases the chance to connect, because the lead is already at their desk!•  Leads also has the product top of the mind, making for an easier conversation!•  If you reach a lead within 60 seconds of filling out the form, you get an additional “wow factor”, impressing them at the speed of response!•  “88% of all leads that eventually convert were called within the first 24 hours.” – Leads360!
  • 9. @ian_patersonTIMING IS EVERYTHING! Director of Insights WEDNESDAYS AND THURSDAYS ARE THE BEST DAYS TO CALL TO M A K E C O N TA C T W I T H A L E A D .
  • 10. @ian_patersonVARY THE APPROACH! Director of Insights “   A PHONE RESPONSE IS SHOWING TO BE 35X MORE EFFECTIVE THAN AN EMAIL RESPONSE – ESPECIALLY O N LY AN AU TO - R E S P O N D E R . ”   “   LEADS WHO RECEIVE EMAIL ARE 16% M O R E L I K E LY T O B E C O N TA C T E D BY PHONE. ”   “   SENDING MORE THAN 5 EMAILS TO A PROSPECT BEFORE CONNECTING BY PHONE STARTS TO LOWER THE C O N V E R S AT I O N R AT E InsideSales.com  &  Leads360  
  • 11. @ian_paterson VARY THE APPROACH! Director of Insights ?! “Were we supposed to have a call now?”!Event Reminders!  •  Outlook  calendar  invites  increase  appointment  held  rates  by  20%  –  InsideSales.com    •  4-­‐12  hour  reminder  call  increases  held  rates  by  30%  –  InsideSales.com    
  • 12. @ian_patersonBE PERSISTENT! Director of Insights “AN AGENT HAS A 93% CHANCE OF MAKING CONTACT AFTER 6 ATTEMPTS VERSUS ONLY 39% ON THE FIRST ATTEMPT.” ! – Leads360!
  • 13. @ian_paterson LEAVE A MESSAGE! Director of Insights “Why  should  I  leave  a  voicemail?”        Ø  “A  well  craGed  voicemail  can  improve  response  rates  by  4.8%.”  –  InsideSales.com  Ø  Even  if  they  don’t  call  back,  a  voicemail  builds  familiarity  with  your  phone  number   and  company    Considera*ons:    •  Don’t  leave  more  than  3  voicemails  in  2  weeks  •  Always  combine  a  voicemail  with  email    •  Repeat  your  name  +  phone  number  twice,  towards  the  end  of  the  message  •  OpRmum  length  is  18  seconds  (every  second  longer  than  30s  reduces  response)    
  • 14. @ian_paterson PUT IT ALL TOGETHER Director of Insights Sequence   Ac*vi*es   Notes   1-­‐Call  +  Vmail   Call  immediately,  with  voicemail  and  ü  6 contact attempts Day  1   2-­‐Email   follow  up  email.  Second  call  within  the   within 48 hours 3-­‐Call  (no  msg)   hour,  third  call  before  end  of  business   4-­‐Call  (no  msg)   day  ü  Varied contact mediums 5-­‐Call  +  Vmail   (Call, Voicemail, Email) Day  2   Call  with  voicemail,  followed  by  email   6-­‐Email   Day  3       Day  4   7-­‐Email  ü  Optimize for best *Day  5*   8-­‐Call  +  Vmail   Variable  Date  (midweek)-­‐Call  and  vmail   day-of-week Day  6   Day  7   Day  8   9-­‐Email   Email  only   Day  9   Day  10   Day  11  ü  12 total contact Day  12   attempts over 2 weeks Day  13   10-­‐Call   11-­‐Call  +  Vmail   Final  call  and  voicemail,  follow  up  with   Day  14   12-­‐Email   disengagement  email  
  • 15. @ian_paterson TOP 5 ACTION ITEMS! Director of Insights1.  Respond Immediately – Within the first 5 minutes, even if after hours!2.  Time It – Use best day of week (Wed/Thur) to time mid-sequence calls !3.  Vary the Approach – Use multiple media (phone, email, voicemail)!4.  Be Persistent – At least 6 calls, and 12 contact attempts!5.  Leave Voicemails – Ideal 18 seconds long, repeat contact info x2!
  • 16. @ian_paterson SOURCES! Director of Insights1.  Inside  Sales  2012  hp://www.insidesales.com/Rps/number-­‐of-­‐contact-­‐aempts  2.  Ken  Krogue  /  Inside  Sales  2012   hp://www.kenkrogue.com/immediate-­‐response/top-­‐problems-­‐of-­‐the-­‐inside-­‐sales-­‐industry-­‐managers-­‐and-­‐reps/  3.  KenKrogue   hp://www.insidesales.com/insider/how-­‐to/inside-­‐sales-­‐voicemail-­‐message-­‐Rp-­‐increase-­‐contact-­‐raRos-­‐by-­‐4-­‐8/  4.  Internal  InsideSales  study:   hp://www.slideshare.net/B2BLeadRoundtable/research-­‐from-­‐harvard-­‐mit-­‐pinpoints-­‐hard-­‐lead-­‐conversion-­‐lessons-­‐ with-­‐easy-­‐soluRons  5.  Dr.  James  Oldroyd,  MIT  /  Inside  Sales  2012   hp://www.insidesales.com/lead-­‐response-­‐management-­‐study-­‐2012.php  6.  Leads  360    hp://www.leads360.com/download/whitepapers/leads360_wp_days_and_Rmes.pdf