Business-to-Business Telemarketing: Wasting Your Money?

Are you dialing for dollars or wasting your money with telemarketing?

Why? Because this is what happens when somebody realizes that there are not enough sales leads in the pipeline to meet this quarter’s sales revenue goals:

Scenario A: Forced Labor

They grab a couple of unlucky administrative assistants, salespeople or interns, put them on they phone with old leads and pray. The unmotivated crew manages to fill their time “getting organized.”

Scenario B: Garbage In, Garbage Out

The marketer Googles for an outsourced business-to-business telemarketing company, and eager to start, sends and old call list or worse, a list of all area businesses. The telemarketing company hires some temps, changes an ex-client’s script, and tells the newly hired business-to-business telemarketing reps, “Start calling.”

Not surprisingly, both scenarios are recipes for disaster.

Of course, you’re experienced and have the skill and knowledge necessary to recognize when a prospect’s needs are a good fit for your services. But you’ve got more important things to do.

So if you’re serious about using B-to-B telemarketing to quickly generate qualified leads:

Hire your own top-notch telemarketers.

Look for people who like being on the phone, understand that rejection is part of the process, have lots of experience calling your types of customers and can knowledgeably discuss the situations and applications your services fit best. (Hint: Consider ex-salespeople who now have kids and want to work part-time and without traveling. Or go after retirees who have realized they’d like to work part-time.) Then give them well-targeted and up-to-date lists of prospects to call.

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 BtoB telemarketing 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.

The acid test for success in either case: How would you feel if you received that telemarketing call?

 

For the full version of this article, please visit:
Business-to-business telemarketing: Dialing for dollars or wasting your money?

Also: Make your telemarketing efforts take off. Find out more about my telemarketing lead generation consulting services.

 

Simple Steps to a B2B Marketing Plan

Developing a B2B marketing plan designed to drive leads and sales is really quite simple:

  1. Identify your destination. (Your company’s sales revenue goal)
  2. Determine how best to get there. (Your marketing strategy)
  3. Get started. (Your marketing tactics)
  4. Measure your progress. (Your marketing results)
  5. Make course corrections. (Modify your marketing plan based on results)

So why do so many B2B marketers never get around to developing and using marketing plans?

I’m guessing it is because they don’t want to be held accountable for the results. Unfortunately, I’ve found the results of not using marketing plans usually begins with the word “No.”

  • No budget.
  • No staff.
  • No raise.
  • No respect.

Or it results in the biggest “No” of all: No job.

Please jump in with your thoughts. If you develop and use a marketing plan, what benefits do you get from it? If you don’t bother, why not?

 

Targeting Your B2B Lead Generation

When searching for leads to buy your products or services, you want to find those companies who have a problem for which you have the solution.

How do you go about finding those companies and how do you find the level of contacts you need from within the companies?

I’ve added an article to my website about the process of targeting your lead generation:

  • Rank current customers
  • Add information about each customer
  • Determine likely prospects
  • Target lead generation by market or geography
  • Research the media they use
  • Focus on B2B marketing vehicles

Read the full article: Lead Generation: Targeting your B2B lead generation

 

4 great solutions for a marketing ROI challenge

What do you do when you have a tough time quantifying marketing return on investment? Recently someone contacted me asking for advice.

A Marketing ROI Challenge

The challenge I face is that we sell 98% of our products through one and two step distribution. As a result:

  1. Even if my sales guys follow up the lead, it’s being referred to one of our distributors,
  2. We don’t know if the prospect ever visits the distributor, much less buys from him,
  3. Our distributor doesn’t share sales or customer data, because they’re afraid that we’ll ‘poach’ the customer,
  4. If you ask the sales team how much the advertising drove the sale, they (obviously) tell me that while it was helpful — they were the key variable in closing the sale.

We track all of our marketing expenditures and leads, so we have a good sense of what each lead generation source costs us. But I can’t close the loop on an ROI. Any thoughts on how we might approach quantifying it?

4 Marketing ROI Solutions

  1. Conduct “Did you buy?” surveys (by mail, e-mail or phone) to the leads to determine what sales resulted and why or why not.
  2. Compare warranty cards or registrations to leads. Incentivize the returning of warranty cards with hats, t-shirts, etc.
  3. Incentivize the distributor salespeople to report back on closed sales by offering spiffs, bonuses, etc.
  4. Give the lead a “coupon” they can redeem at purchase for a discount or upgrade or add-on. The distributor has to turn it in to get reimbursed, closing the loop.

Marketing Lead Calculator

I’ve also developed a spreadsheet you can download and use to calculate marketing return on investment:

 
Need help with B2B lead generation, marketing and sales?
For more information, please call Mac McIntosh at +1-401-294-7730, send him email at or visit www.sales-lead-experts.com