Posts

Follow up Inbound Leads with 5 to 5 Calling Rule (And Increase Sales)

Follow up Inbound Leads with 5 to 5 Calling Rule (And Increase Sales)

/in /by

In over a decade of delivering multi-channel marketing programs, valuing our business means valuing our clients’ businesses even more, constantly pushing us to pursue increased productivity for both. We exert selfless effort in acquiring new knowledge and developing skills to be able to achieve the goals we set.

In this article, find out how Callbox created and employed a ‘5 second to 5 minute” calling process that generated over $350,000 additional revenue or a 40% increase in sales.

Goal

During the 2014 goal setting meeting, Callbox saw an increase in inbound traffic from different channels like Email, Calls, SEO, and Social Marketing, which required immediate action to cater to the sudden surge in inflow.

Aside from adding more members to the Calling Team to handle more inquiries, the team addressed the issue by further expediting the process of answering the customers’ queries and addressing any concerns they may have.

Thus, the  “5 to 5 Rule” was created.

Related: Use These Phrases to Impress Singaporean Prospects When Calling

Process

The 5 to 5 Rule was, and is still an active calling process effectively employed by the team, in 3 easy steps:

Step1: All inquiries coming through the multiple channels including Inbound/Outbound Calls, Email Responses, SEO and Social Marketing were monitored real-time by the Response Team and checked within 5 seconds.

Step2: The Response Team transfers the inquiry to the Calling Team for further qualification, a process that takes anywhere within 1.5 to 2 minutes.

Step3: Once the query is deemed qualified, the Calling Team transfers the call to the Outside Sales Team to take the prospect’s requirements, and must be a subject for Sales Proposal, before the 5 minutes threshold lapses.

Real-time Monitoring Chance Rate at Second Intervals

5 seconds Rule of Calling Inbound Leads

Software Advice, The Online B2B Buyer Behavior Report by Derek Singleton

Conversion Chance Rate by Minute Intervals

Conversion Chance Rate in Minute Intervals - The 5 to 5 Calling Rule for Inbound Leads (That Generated Over 40% Increase in Sales)

The shortest time that the inquiry is addressed, begets higher chance of converting the query to a Lead, to a Proposal, and to a Close. tweet this!

Once the Response Team receives the inquiry, it has to be checked through within 5 seconds for transfer to the Calling Team. This clearly requires that the Calling Team be ready at all times to take transfers and be able to qualify the inquiry within 1.5 to 2 minutes only. Once qualified, the OS Team is quick to take the transferred call and present Callbox’s products and services to the prospect in a period of 2 to 2.5 minutes. 

Practically speaking, conversation between the prospect and the OS may go beyond the 5-minute period, but should only bear clarification of details, verification of contact information and setting of appointment for a follow-up call regarding the Sales Proposal.

Even David Dodd of  Customerthink.com pinned it when he wrote this article, ‘Are Your Lead Response Practices Costing You Sales?’

Here’s How to Reach Prospects in Asia with Less Effort and 3x Results Watch Full Video Here

Results

The team saw a spike in Leads, Proposal Rates and Closes.

Since inquiries were monitored real-time and quickly reviewed and qualified, the number of Leads increased, resulting to more sales proposals drafted and sent to prospects. As these proposals comprehensively present all the details of our products and services, the chance rates of closed sales also increased, while abandoned calls and emails significantly decreased.

Callbox 2014 and 2015 Leads, Proposals and Closes Data - The 5 to 5 Calling Rule for Inbound Leads (That Generated Over 40% Increase in Sales)

The success of the “5 to 5 Rule” is a product of a willingness to innovate at a quick pace and see necessary changes through to the end of the process.

How to Spot a Requested More Information in Every Sales Objection

How to Spot a “Requested More Information” in Every Sales Objection

/in /by

Most of the time objections are your prospect’s way of saying, “tell me more”.

As a salesperson, we are all familiar of an objection. We know that it’s common to go through an objection in the whole sales process. So it’s important that all salesperson must learn how to handle common objections.

The truth is, it is the responsibility of a sales rep to educate their prospects about their products and services. The reality is, to become an effective salesperson, we must know that we can’t persuade or lead the prospect into buying our product. You can’t just walk away after the first sign of objection. You must know the true objection. If not, prospects will keep on blocking your call.

The important thing is to understand which objections are true – the ones you can’t work out with your prospect and which ones are disguise and are only being raised because they want to know more. Most of the time, prospects object because they don’t know what you’re offering and what they can benefit from it. So it is your job to tell them.

When prospects mentioned one of the 5 phrases below, you must treat them as “requested more information” objection disguise with their corresponding rebuttals that you can use.

“It costs too much.”

The price sometimes depends on the needs of your prospect. So find out what exactly are they looking for and set a price depending on the needs of their company.

“The price depends on the number of users that you have.”

“We can customized it based on your company’s needs.”

Related: How to Handle like a Boss: “We’ve worked with you before and we’re not satisfied”

“This is not the right time for us.”

If prospect mentions, it’s not yet the right time, respect that. Most companies nowadays don’t just buy something because they need or they want to. When dealing with this kind of objection, you can say;

“When do you plan to consider this kind of project?”

“When is the best time for me to call back?”

Related: Why You Shouldn’t Ask, “Is this a bad time to talk?”

“We don’t have a  budget for this project.”

Companies prioritize their projects. The decision of what and when to purchase something depends on their budget and what they need most at the right time. You can ask the prospect:

“When will your budget be available for this kind of project?”

“When do you plan to do this project?”

Related: How Many Call Attempts Should You do Before You Surrender a Lead?

“I’m not the decision maker.”

If prospect says he’s not the right person to talk to, ask who is the decision maker who handles this project. You should know the different types of decision makers and their roles. But don’t ignore him. He might be able to help you. What you can do? Either, offer to send him information or ask for the information of the decision maker.

“Who’s the best person to speak with regarding this?” (Gather the decision maker’s information)

“Are you involved with this project?”

“What would be your role for this project?”

“We’re currently working with someone.”

This objection doesn’t mean it’s the end of the deal for you. Find out more about who they’re working for.

“Do you have a contract with them?”

“When will your contract ends?”

“By the time your contracts ends with your current provider would you consider other providers?”

“If you find our product or service beneficial for your company would you consider us?”

Bottom line is, don’t let these objections end the deal. Instead, dig a little deeper to understand the reason why and what your prospect is objecting to. 

Rebound After a Horrible Sales Call [Video]

Rebound After a Horrible Sales Call [Video]

/in /by

How fast can you bounce back when you can’t find the right words to say during a sales call?

A bad sales call can turn into a nightmare and ruin a potential sale. You must know how to take proper precautions to be able to recover. Let’s admit it. Everyone will experience having a bad day regardless how good you are in what you’re doing. Don’t let it ruin your day! Instead, learn from it and move on. Bad experiences along the way can be turned into a positive learning.

 

Video transcript:

Just got off the phone with a prospect, and it didn’t quite go well? It’s okay to feel bad. Afterall, nobody wants to screw up at work.

But how do you get yourself back and recover from a shitty sales calls?

Get some distance

Get up and step away from your desk.

  • Take a 10 minute break.
  • Get a coffee.
  • Go outside and take some fresh air.

Reflect on what went wrong

Turn bad sales call into an opportunity

  • What could I have said better?
  • Could I have handled the situation differently?
  • How could I have responded?

Everyone can commit mistakes once in awhile. What matters is what you did after to recover. Be positive and turn it into a learning opportunity. Don’t let it affect your future performance.

How to Make Current Customers Renew Their Contracts

How to Make Current Customers in Singapore Renew Their Contract with Your Company

/in /by

Here’s a little trivia for you: Did you know that the most popular song in the world is not from your fave pop singers like Justin Bieber or Beyonce but from the big daddy animator Disney? Yahoo said the classic song “It’s A Small World” has been played more than any song in radio history for more than half a century.

I’d understand if you would disagree as you may have your own personal choice for the recognition but there’s something in the song that appeals to both young and old audiences that keep them singing it over and over again, like it’s buried in their minds that automatically pops up anytime they’d feel like singing.

Is that what you call LSS or last song syndrome effect?

Like the disney song classic, you can make your business have the same effect on your customers – it can possess the power to be the first thing on customers’ minds when they thought of purchasing and make them come back to you to renew the contract or even add or refer another business to you.

But what does it take to have that lasting marketing effect? Take a few notes below:

The NEED

When customers shop around, they definitely have the need. If you’re dealing with a new customer, get to know them better first by understand their buying patterns. Do a customer profiling to identify the demographical and psychological profiles. This way you will be able to customize your offers and be able to present the best business deal to your prospects, resulting to customer satisfaction.

Case Study: Callbox Data Profiling A Major Coup for Exhibition Leader

The BENEFITS

Customers who have had the first hand experience of the benefits of your product or service will definitely return to do business with you again. Once you are able to answer their WIIFM (what’s in it for me) question, you are not only giving them quality service but you are raising the bar of integrity, and customer retention is achieved. Such will make them trust you and may eventually consider a long term deal.

The Three-Step Guide to Better Customer Retention in Singapore

The PRIORITY

If a customer has not been buying from you for quite sometime, that doesn’t mean that you should put them on the sideline. It would be best if you show up to them instead of waiting for them to call or see you at the store, and perhaps ask for their feedback about their last purchase. This could also be a good time to update them with the new products you have. Consider both old and new customers as equal priorities to make them feel valued.

Related: For Effective Lead Nurturing, which do you Prefer? Predictive or Power Dialers?

The NURTURING

If you’re good at keeping your business at its best stature, you must do the same to your customers – nurture them in many ways you could. Promptly respond to their queries and feedback, update them about the latest product, send them thank you letters and be visible in their social circles – do all these via the lead nurturing process. Keep a steady contact with all your customers through the different channels that lead nurturing offers – call, email, social, web, mobile and postal mail. The lead nurture process runs on a tool that automates behavior-based actions like sending custom emails based on your customer’s query or need, and real time alerts and tracking of customer touch points for a seamless workflow between you and your customers.

Related: Case Study: Turning Targets to Sales-Ready Leads with a 50% Shorter Lead Nurturing Cycle

Getting a customer to renew a contract may sometimes require more effort than acquiring a new one, as current customers have points of comparison between you and other vendors, or they may ask you to redesign the workflow based on their experience in the previous campaign. The after sale result is a critical factor in achieving customer retention. How you made customers feel after they purchased from you have a lasting effect on them – it could either make or break the on-going business relationship you have with them.

Make sure that customer satisfaction is done at its best at all times from selling point A to point B, and you’ll definitely become popular among your target market and will certainly have that LSS effect on your customers – “last sale syndrome”.

 Watch our lead nurture tool demo:

3 Sales Tips to Get your Reps Reach for the Numbers

3 Sales Tips to Get your Reps Reach for the Numbers

/in /by

QuotaFactory recently published an article about the best ways to improve the performance of sales reps, which is something many B2B companies currently underscore. Applying the proper sales techniques determines the success not only of individual callers but the whole company as well. And we’re sure that these techniques can provide a good starting point for the two parties to reach those numbers before the year ends.   

Tip #1: Plan and Share a Vision with your Sales Reps.

This may be one of the single most motivating factors for sales reps, especially those new to the field. Many reps do not realize how many times they need to hear “no” before they hear a “yes” and that can be defeated, leading them to lose faith in themselves and their abilities. Creating and sharing a vision with your reps allows them to see the end goal. This should not only pertain to their sales process but should also incorporate into their career aspirations and even life goals.

If people can envision themselves as successful, and have a written plan to do so, then the likelihood of success is heightened greatly. Let this be your marketing guide in your planning out your campaign.

Tip #2: Your Sales Meetings are not Effective.

How many times have you sat in a weekly or daily meeting droning over the same action items over and over? Now think about how useful you find these meetings or how much you’re actually paying attention. if your answer was very little, your sales reps are likely thinking the same.

Rather than just going over the same KPIs, quotas and announcements, use your meetings as time to train. Rather than three half-hour meetings a week, have one hour-and-a-half meeting and use this as an opportunity to foster an effective environment of peer coaching and collaboration. Have reps do mock calls, handle objections, and brainstorm new unique ways to approach prospects in this time

Tip #3: Share Best Practices.

Now this one may seem so basic that it probably shouldn’t belong here. However, the funny thing about salespeople is that, by nature, we do not like sharing tricks of the trade with our colleagues because — as we’re all familiar with — in sales, one day a technique will work, and three weeks later, your prospects will turn numb to them.

Once a sales rep uncovers a trick of the trade, they usually want to keep it to themselves and utilize it for as long as possible. If they share their tip, they think it will circulate and sooner or later will no longer work.

During your weekly meeting that I outlined above, encourage each of your sales reps to share at least one best practice. They may be hesitant at first, however, they will soon find that their numbers will rise.

While they may be giving up a “trade secret” of their own, they’re gaining much more to apply to their call plans and will be excited to continue to share and learn from their peers.

telemarketing tips

Closing the Deal: Effective B2B Telemarketing Tips to Drive Sales

/4 Comments/in /by

For most B2B companies, telemarketing is the standard way to contact leads and set appointments. It is a routine part of the job for most sales representatives- smile, dial, repeat.

Sounds like an easy task, right? However, despite its apparent simplicity, telemarketing can be one of the most dreaded parts of the job due to the constant rejection that callers face.

What is telemarketing, anyway?

The process of using the phone in generating leads, make sales, or gather marketing information is called telemarketing. This strategy is especially useful for small businesses and services whose customers are located in far-flung areas and, or when there are many prospects to be contacted to find interested ones who’ll make a purchase.

Cold calling is one aspect of telemarketing that gained a negative reputation despite being effective in generating leads and contacting prospects. You might have come across many blogs where it’s repeatedly killed off, saying “Telemarketing is dead”. While digitalization continues to outshine phone calling in terms of scope and accessibility, telemarketing is very much alive and thriving.

Check out our Latest Blog: B2B Telemarketing & Digital Marketing: The Power Combo for Your Conversion Success

Why do businesses still use telemarketing?

B2B businesses still use telemarketing to contact potential clients because it enables personalization and direct communication. Compared to other marketing forms like email or social media, telemarketing allows two-way communication between businesses, wherein they can converse with their prospects and address their specific concerns.

It also enables sales reps to build relationships and establish trust with prospects, which can eventually generate more sales. In addition, telemarketing can be a cost-effective way to reach a large number of potential customers, especially for smaller businesses that may have limited marketing budgets.

Explore our Services: B2B Telemarketing Services in Singapore and APAC

Telemarketing tips to close more deals and drive more sales

When asking about telemarketing success, you’ve probably heard the same old piece of advice one too many times: “Make your phone call more personal.” or “Listen actively.” However, that’s not always the case. There are situations where you need to take your strategies a step further to convert a prospect into a lead and seal the deal over the phone. 

One of the biggest challenges in B2B telemarketing is effectively convincing people that they need what you’re offering them and that they’d commit to a phone call, an appointment, or a subscription. Of course, it’s not an easy feat, but with the right knowledge and skills, you’re all set to succeed. Here are some of the key abilities that every top-notch telemarketer should have:

  • Confidence over the phone
  • Good communication skills and minimal fillers such as “uhm” and “ah”
  • Become more conversational and not rehearsed
  • Handle objections properly
  • Probe and know what questions to ask to identify if there’s a need
  • Empathize with the prospect
  • Be optimistic

Related: Teach Sales Reps to Sound More Natural Over the Phone

Here are some bulls-eye tips to help you increase your chances of closing more deals:

Research and Refine your Proposition

research and refine b2b proposition

Before you launch your product, it’s crucial that you understand your audience and make sure that you reach the right people. Offering something they don’t need or want is wasted time and effort, after all. To avoid this, take time to do your research so that you can identify your target audience. Here are some guide questions to help you:

  • Who are your buyers?
  • Where are they?
  • What do they want?
  • What makes them want to buy?
  • How can you assist them?

Understanding your audience goes beyond knowing who they are. It also means understanding their buying motivations and challenges. One must also know in which part of the decision-making process these prospects are.

Related: Prospect Research and Profiling Tips to Help You Build Your Contact List

Use your Credentials

microsoft service

It goes without saying that name-dropping helps. If you mention that you have clients such as; Microsoft, IBM, etc. in your email, call, or website, it helps remove any credibility issues from the get-go. So, think about who you can use as leverage when talking to a decision-maker. If you can’t actually name-drop or you don’t have these clients, you can still focus on what your prospect needs that you specialize in and emphasize how they can benefit if they would consider your product or service.

Empower your prospect

When talking to prospects, you should be in control of the call and not them. There will be instances wherein they will try to be in control of the call and ask questions instead of answering your questions. What you will do? Take it back! Answer the question of the prospect and ask the question again for the prospect to answer. Remember, the one who asks questions is the one who’s in control of the call. Here are The Dos and Don’ts When Doing B2B Telesales to guide you!

Persistence is crucial

telemarketers knows the different buying signals

You’re not considered a good salesperson if you’re not persistent or don’t know the different buying signals. Too often, salespeople, telemarketers, and small business owners abandon calls when they get immediate “negative” results. There are different reasons why prospects object such as:

  • Need
  • Price
  • Feature
  • Time
  • Telemarketer/ Salesperson

So you have to know where your prospects are before giving up. Find out How Many Call Attempts Should You Do Before You Surrender a Lead. 

However, you have to take note that being too persistent is not healthy for you and your prospect. Understand the reason why they object. Whether they don’t need it now, they find it too expensive, you don’t have what they’re looking for or they don’t have time to talk about it for now. Regardless of the reason, you have to respect it at some point. 

Effective telemarketing means being persistent with the right prospect at the right time.

Find out how we reach out to the right prospect at the right time with Smart Calling.

Use a good CRM system

using good CRM

Having a good tool is essential to record all important notes from the call for you to use when you follow up with your prospects. Notes such as:

  • Information about your prospect
  • Information about their current set
  • When is the right time to follow up on them
  • Their plans, timeframe, needs, etc.

Outsource your telemarketing efforts: Only with an expert team

Those notes may help you prepare before you follow up on your prospects which will help rebuild rapport on the next call. Nowadays, there are a lot of cheap online hosted CRM systems available in the market. If you want good quality leads and reporting tools, many companies are offering B2B telemarketing services and letting you utilize their own tool to manage and nurture your leads and appointments.

Callbox is one of the companies that offer telemarketing services to businesses across different industries and locations across the globe. Having been in the B2B industry for decades, we have become an outsourced B2B lead generation services provider and a reputable partner of businesses aiming to succeed in the industry.

Our team of experts employs professional and persuasive communication to engage with prospects, gather relevant information, and foster relationships to drive conversions. Through our Multi-touch, Multi-channel approach, we use Voice, Email, Chat, Web, Social Media, and Webinars to reach our clients at any time and place and across various platforms.

Our services can be availed with flexible and tailored pricing according to your business needs (request for pricing).

Maximize your telemarketing strategies, secure leads, and gain revenue by partnering with a globally trusted lead generation provider. Contact Callbox today and schedule an appointment with us!