22-Oct-04 10:30 AM  CST  

Telemarketing Will Grow Your Business 

Every company loves to receive referrals about you selling services to them.  We all strive to provide quality services to our clients in the hopes that they refer us to others.  This type of referral is the best way to create new selling opportunities,  someone coming to you with need and interest in your services.

Another ideal selling opportunity is when your advertising works, a company sees or hears your advertisement and responds by contacting you, possibly allowing you to sell your services to them.

In my opinion these are two of the best ways to sell your services.  Generally there is little competition, and the close rate is high.  The close rate is high because these opportunities come to you already (typically) qualified and interested in what you offer.

  
As great as these opportunities are, it is difficult to grow your business when you depend on them.  Here is why: first, you have little control over how many referral opportunities you receive.  Hopefully, you are already actively trying to maximize these.  Second, advertising is typically expensive, so you may not have the budget necessary to create a high enough volume of inbound inquiry necessary to grow. 

  
The challenge becomes making sure you do the best you can to maximize referrals and advertising dollars, and take advantage of a higher than normal closing rate.

  
Once you have done this and assuming you still need to drive more revenue, what do you do to grow?  Normally, this requires you to initiate contact with businesses that you are interested in selling services to.  I call this outbound marketing, telemarketing or teleprospecting.  This method of outbound lead generation allows you to take control of bringing in the necessary revenue to grow.  However, when you engage in outbound telemarketing, the selling dynamics begin to change.  Most common, you will find that sales cycles last longer and your close rate drops.  This is a normal occurrence, I mention it simply to prepare you and hopefully help you to define proper expectations.

  
You see, when a buyer comes to you (inbound, referral or advertising) they already know they are considering a purchase decision.  They are already into the sales cycle.  When you go out to find prospects (outbound telemarketing), not all of your prospects have entered into the sales cycle.  In fact, some will be classified “early stage”, and need much more development and cultivation.

  
These are the reasons why the close rates drop and sales cycles increase.  This is normal.  Remember, we are in a mode of trying to increase revenues and grow your business.  When you do outbound lead generation, having patience to see the process through to the end will pay off with a steady stream of qualified prospects.  However, you must be willing to give the process time.

  
Telemarketing is a great way to do outbound lead generation.  It is a way to be productive and have a 2-way conversation with potential prospects.  Telemarketing allows you to cover a lot of geography and touch a lot of contacts without leaving your office.

  
Prior to making your first phone call, make sure you develop a good plan.  Key components of your plan need to include:

1. What you want to say (scripting)
2. What type and size businesses you want to call (database)
3. Who inside the company you want to talk to (call strategy)
4. How will you manage the accumulation of call results that you generate (sales tracking software)

Once you develop your plan, implement it with commitment.  Be willing to give it the necessary time (hours each day/week as well as duration).  Be willing to modify the plan along the way.  Prospecting and lead generation takes time to develop and show measurable results.  You must stay committed to the process.

  
Remember, you are going to them asking them to be your customer; they are not coming to you asking to be sold.  Remember that you initiated conversation, not them.  Remember that you are taking control of increasing and growing your business, rather than becoming complacent and dependent upon revenues resulting from only inbound inquiry.  Telemarketing will generate the necessary results you are looking for to grow your business.

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For additional information on this Business To Business Telemarketing article, please contact:

Mike Dunlap
281-833-3000 x14

Source: Dunlap Marketing
http://www.dunlapmarketing.com

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