Industry Secrets to Eliminate Cold Calling and Maximize Commissions
@ian_paterson Director of Insights Attention: Sales! ! INDUSTRY SECRETS ! to Eliminate Cold Calling !and Maximize Commissions!
@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!
@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!
@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.
@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
@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
@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
@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!
@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 .
@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
@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
@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!
@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)
@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
@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!
@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
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