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Telemarketing gets its data from the databases provided from the third party source OR could be calling existing customers for selling new OR enhanced products. Telemarketing can be done internally within a unit OR can be outsource to 3rd party telemarketers.
The success drivers for telemarketing Sales leads generations:
Training script and Q&A:
To ensure that your staff is giving consistent message and is ready for any kind of questioning and response.
Awareness of the product and company:
When a potential customer talks to a telemarketer, one can judge within 1 minute, if the caller is reading a dry script OR is aware of the product OR the company.
Customer information on existing relationship:
- This is next level of sophistication. A customer would like to be asked 'You are using our LCD and I hope you are happy with it. You may like to have our latest blue-ray at a special discounted price for you', instead of ' 'We have got your name from our customer list, and we are offering you discount on blue-ray'.
- Asking only the information, which you don't have. No need to ask the address again OR the age etc, if you can get it from your systems.
Prioritization of leads:
If your leads are appropriately classified and prioritized, a telemarketer should be trained to spend more energies on what is more important OR greater potential.
Measures/Facts for Generating Sales Lead through Telemarketing:
- Number of calls made.
- Number of calls converting into warm leads. (customer is ready to meet OR consider- One needs to define the criteria clearly)
- Number of calls, converting into sales. (this can be cut to further sub-stages like customer demo, price negotiations, raising
- purchase orders deliver)
- Telemarketing cost
- Number of Telemarketing staff
- Number of dead leads
KPI-Metrics for Telemarketing Leads
- % age of leads to total calls made, which get converted into warm leads
- % of leads to total calls made, which got converted to sales.
- %age of warm leads, which got converted into sales.
- % of high value leads vs. total leads converted.
- Telemarketing Cost per lead for leads, which got converted to sales
- Telemarketing Cost per lead for generating warm leads.
- Cost of telemarketing per customer contact.
- % age of telemarketing leads, which were dead-leads (wrong OR non-existent telephone number, the person is not an existing customer though he/she is mentioned in your list..)
Dimensions/Attributes for telemarketing, around which you can slice and dice your measures and KPIs
- Location.
- Product
- Telemarketing unit.
- Telemarketing company (a telemarketing unit is internal to an organization and it may be hiring the telemarketing companies)
- Tele-marketer (specific tele-marketer team OR an individual person)
- Lead value-slab (high value, medium value)
- Lead priority (high, medium, low)
- Lead Source (external database, existing customer, point of sale..)
- Time period
SWOT of Telemarketing Sales Leads Generation
This is the reference list of what could be part of the SWOT of Telemarketing for lead generation. Within strengths/weaknesses- if an item is rated high, it will be strength and if it is rated low, the same item will be considered a weakness. Same rule applies on items within threats and opportunities (unless marked specifically as O OR T)
Strengths/Weaknesses
- Quality of telemarketing databases.
- Quality of telemarketers
- Training material and quality of trainers.
- Retention of quality telemarketing staff.
- Multi time-zone operations.
- Language skills.
- Ability to ramp-up OR ramp-down without a big impact on per unit cost.
- Ability to reach out to the lead in a short time.
Threats/Opportunities
- Outsourcing of telemarketing work.
- Our telemarketer doing telemarketing for our competitors.
- The telemarketer selling our database of existing customers.
- Do not call registry by the government.
Key Decisions related to Telemarketing Leads Generation
- Should we use internal OR external telemarketer?
- What is the level of investment we should make in terms of infrastructure?
- What is the level of lead evolvement we want to do through telemarketing?
For example, you may just take it to the level, where customer shows the interest in buying a credit card, and you stop there and let the sales channel take it over. Alternatively, you may actually take some basic details on customer incomes (OR if he OR she has another existing card), so that you may channelize the lead to right sales channel. For example- if a customer says that he has USD 100000 income per year, you may send the lead to 'gold Credit card unit' and if a customer says that he has USD 30000 income per year, you may send the lead to 'silver credit card unit'.
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