How to measure inbound sales calls ROI

 

Call Tracking – Know What Marketing is Driving Inbound Sales Calls

As growing companies, we are continually evaluating our marketing efforts to understand the “Return on Investment.” While everyone’s budget is different, one thing is for sure, we want to know how many leads each campaign produces. Regardless of the type of advertising, such as print, Google Adwords, Bing Ads, Banners, social media, paper mailer, you name it we want to know the real value. While we have mechanisms to help track online conversions from these marketing efforts, many of us miss one particularly important avenue of truly understanding the return on investment, “The Phone Call.”

How do you tell how many prospects placed calls instead of filling out an online form?

This is where call tracking comes in.

 

What is Call Tracking?

In simple terms, call tracking is the ability to trace phone calls back to the person who initiated the call, as well as the relevant advertising channel that prompted the call to your business. Until recent years, it has been almost impossible to determine exactly where your incoming phone calls have originated. The latest call tracking software included in the BBC Consulting Marketing Toolkit can help you determine which of your marketing efforts are successfully producing inbound calls, and which are not.

How Does Call Tracking Work?

call tracking with visual visitor

 

 

 

 

 

 

 

Affordable Call Tracking as a feature of BBC Consulting’s Marketing Toolkit works by assigning unique phone numbers to different advertising sources. When the prospect sees your ad, they call the unique phone number that is then forwarded to your regular business phone (or whatever phone number you would like). BBC Consulting is then able to collect metrics about the call, record and transcribe the call if you would like, notify you by text or email, and many more options.

This concept also extends to tracking online marketing efforts. If you are running the latest version of BBC Consulting’s installation code, you will have the option to configure “Dynamic Number Insertion” (DNI). DNI is a beneficial but straightforward option. It allows us to evaluate the source of the visitor and change the phone number displayed on your website accordingly. A great example of DNI is configuring a tracking phone number for Google Adwords. Once the phone number has been configured, any visitor that clicked on one of your Google Adword Ads will have your unique Google Adwords tracking phone number displayed on your website instead of your regular business number.

Are you wondering what BBC Consulting’s affordable call tracking can do for you?  This informational data will help your sales team work their way through the sales pipeline with an advantage that your competitors might not have. Know more about those inbound calls with BBC Consulting’s Affordable Call Tracking.

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It’s Closing Time…

Nothing quite ranks you in sales like your closing technique

Saying just the right thing at precisely the right time is critical to sealing the deal and getting that solid foundation for a good relationship with your new client. Not to mention that it doesn’t matter how good you are at everything else if you can’t close the deal.

Don’t feel like you’re alone in this. I believe that most salespeople have some level of anxiety about the close. But from that anxiety comes relief, pride, even success when the deal goes as planned and you get the sale you were working toward! It’s these feelings that drive us.

Now, let’s go over a tried and true technique that has proven itself time and time again!

Sometimes it’s best to be Traditional.

Most traditional closing techniques are as you would expect, traditional. There are mind games a salesperson employs, and subtle warnings meant to encourage your prospect to hurry along and make that YES or no-decision.

For example, you have that well-known car salesman line of the “last one on the lot,” or one of my favorites, “If you can sign up today, we are running a special. But today’s the last day!”

And there is most definitely a reason why this traditional method gets used after all these years even though everyone knows what you’re doing. To put it in simple terms, it works. It calls on us to hurry up and get that deal before it’s gone, to satisfy the urgency that we feel to save the money or get the last one.

To be skilled at closing a deal is probably the most technique that a salesperson can have. What technique do you use?

 

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How To Develop The Perfect Cold Call Open…

 

The Cold Open

Although many people might wish otherwise, I’m here to tell you that in 2019 cold calling is still alive and kicking! B2B and B2C sellers everywhere are still practicing this approach every day! When approaching the art of Cold Calling in 2019, you must remember what is considered by many to be the most important element of cold calling… the open.

There are a few different ways to come to the development of a fantastic open. Let’s go over a couple of them today.

Option #1 – Invite yourself to the conversation

When you go ahead and take the plunge and get that person on the line that you were hoping to talk to, start by inviting yourself to the conversation before you jump in with your sell. How to do this?  Simple is best and just ask. “Hello Jane, this is Robert with Selling You Something. I know that I didn’t schedule this call with you, but is this a good time? I’d like to share with you some interesting Marketing Information I have come across that will help your department.”

Seems pretty simple and straightforward, right? What makes this approach one of the most efficient is that it is respectful and triggers the prospect’s interest.

This respectful method of gaining entry is a great way to get your foot in the door or to be scheduled to start the conversation at a later time.

Not sure that this method is for you?

 

Option #2 –  Try the announcement approach

What exactly is the Announcement Approach? When you can get someone on the line, you open with a statement like, “Hi. My name is Mary, and I’m calling because of the new (blank) you just launched.” Using a known event as the opener shows that not only do you know their business/product and are not just calling down a list of numbers, but when this opening statement is followed by something like, “As with every new launch, proper Marketing from the onset is vital, and I have a solution that will definitely provide that special something you’re looking for!” The combination of the known event with the selling statement is a great opener for a conversation about how your service can help them sell their product.

Still not the perfect fit for your style?

Option #3 – Ask for directions

Sometimes it’s okay to stop and ask for directions. “Hello. I’m Sara and I know that you are very busy. I am trying to find the person that can help me …” You have established that they are not the person that you are looking for so they will relax and (hopefully) not look for a reason to quickly end the call. Now you can take that quick moment to show your stuff with your researched knowledge of who/what they are and be specific in your reason for speaking with “someone in marketing.”

Although Cold Calling isn’t what it used to be, it isn’t dead yet! With online research being what it is, there is no reason that you cannot spend some time learning about the person or group you are trying to get in touch with.

Now, combining this style of Cold Calling with the data that BBC Consulting can provide you before, during, and after your approach can put you light years ahead of your competition. It can also give you real-time data on how your style is being received by the people you’re calling and what works and what doesn’t! For $199/month and no contract, how can you pass up an opportunity to achieve Cold Calling greatness like this?!

 

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Cold Calling Isn’t Dead, It’s Alive and Kicking Right?

Cold Calling ….

Just those two words together—cold calling—puts many people far away from warm and happy. Given that it’s so much fun for so many people, and that I have heard a number of times recently that the last nail has been banged into the cold calling coffin, why is cold calling still even on our radar screens?

Because it works.

“It doesn’t work,” you say? Well, in one sense I agree with you: there are a million ways to do it wrong and fail. Fail at something enough, and it’s easy to dismiss the whole tactic.

In fact, “Cold Calling is Dead” is one of the common myths in 5 Sales Prospecting Myths Debunked. (Download the full report for new data on the effectiveness of cold calling.)

Meanwhile, case study after case study confirms that cold calling can work. For example, I’ve seen cold calling work as a major part of a lead generation approach, yielding 6 clients in 6 months (a major acceleration of client additions), and increasing the pipeline by fivefold, for Deep Customer Connections, a management consulting firm in the insurance industry.

Making Ten Million Dollars

Many anti-cold-calling folks say, “There are so many powerful ways to build your client base, why even bother trying cold calling? You can give speeches. Publish articles and books. Work your network: it’s more extensive than you probably think.”

To paraphrase a famous business person (Comedian Steve Martin):

  • Question: What’s the secret to making ten million dollars?
  • Answer: First, start with nine million dollars.

Well, some people don’t write very well, they don’t have extensive networks, and speaking isn’t their bag. Some people can’t wait a year for a lead to materialize out of their writing or their network! If you can employ these tactics, great. It’s like starting with nine million. But regardless of whether you start with nine million or no million, cold calling still works.

What’s In It For Me (WIIFM)

Let’s assume you’re a Chief Strategy Officer at an $800 million dollar manufacturing firm in Ohio. Someone calls you and says, “My name is John Smith and I’m a change management consultant. Do you need change? Let’s meet.” Even if you’re headed to the vending machine, your immediate change needs probably won’t include John Smith.

But let’s say John calls and says, “My name is John Smith. The reason I’m calling is because my company, the ABC Consulting Group, has just recently conducted a major benchmark study on how manufacturing businesses—including Competitor 1 and Competitor 2 of yours—in the Midwest are succeeding with their labor unions in the face of global outsourcing. There are 3 practices that are working across the board and a few that fail most everyplace. If you’re interested, we’d be happy to come by and take you through the results.”

If this topic is on your mind, you might risk a 30-minute meeting to hear the results. Or you might have some questions right then and there. Either way, if I’m John, I’ve presented my cold “introduction” of myself and my company in a way that delivers value to you.

Will everyone take me up on this meeting? Of course not. But if my target list is well segmented and clean, a number of prospects will. When I get in front of them, the topic of conversation will be my recent research, work, and expertise—not a “get to know you and sell you” meeting.

A conversation about recent research is just one of many potential value propositions for the meeting. You might not want to present research because it might not be the best entry for you. But if you’re offering is worthwhile, a conversation with you should be able to offer something of strong value. (If you can’t figure out how you can deliver value in a conversation, find a new line of work.)

Regardless of the meeting premise, you have to handle the conversation well to get the best result from this meeting, but the ball is definitely in your court as to what happens from here on out.

 

How the Numbers Work

Answer the following question: If you get 10 meetings with 10 company leaders who have the right title, are in the right organization, and have the right criteria for being a good prospect for you, and you stay in touch with them fairly regularly in a meaningful way after the meeting, how many would become clients of yours in some capacity over the next year or two?

The most common answers I get for this question are “two or three” or “eight or nine”. Let’s assume you’re more modest, and the answer is two.

Next question: What does a bread-and-butter buyer represent to you in terms of revenue over the course of a year? It could be $7k, $70k, $170k, $700k, or anything. Let’s assume it’s $70k.

So, for the cost of setting up 10 meetings with prospects, whatever that cost is, the immediate return on your investment is $140k. This, of course, doesn’t take into account long term ROI factors such as repeat business and increased referrals.

The fallacy, in many cases, is that most sellers aren’t as good at closing as they think they are, and they don’t continue to stay in touch with the prospect regularly and meaningfully after they meet with them. But these factors don’t have anything to do with cold calling. They have to do with your ongoing nurturing, and the resources you devote to follow up. The cold calling part works fine for what it’s supposed to do: make an introduction with a prospective buyer that can lead to a good relationship. How you choose to build the relationship is a different matter.

Have Someone Else Call For You

Maybe you see the value and believe that cold calling can work, but you simply do not want to make the calls. You can have someone else call for you.

Reread the WIIFM section of this article above. In the beginning, you must be involved in targeting the right prospects, providing the strongest value proposition, and working with a telephone business developer to represent you clearly, strongly, and fairly. Then, let them go to work. Cold calling itself is not something that you, personally, need to get good at.

It’s been said that people make decisions with their hearts and justify them with their heads. People don’t want to make cold calls, and some don’t want to be associated with the method. So they figure out how to justify not employing cold calling, or why other things work better.

If you don’t want to make cold calls, don’t. But cold calling does work. Most people just do it wrong.

 

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Source: https://www.rainsalestraining.com/blog/cold-calling-works-you-just-do-it-wrong