Marketing & Sales Blog

Lead Generation and Conversion Rate Optimization: Strategies, Best Practices & Examples

Author: Sergey Butko

If you are in sales and you "don't put stock in cold calling" you may miss out on a considerable measure of money.

A standout amongst the best methods for securing new business is through cold calling – it is an awesome method for getting new leads in the event that you do it right. Obviously, approaching past and current customers, requesting referrals, is the primary spot to begin, that is essential to deals preparing on the grounds that "one" referral is comparable to "fifteen" frosty calls.

What do you do after you've called the greater part of your customers? Sure, networking is great as well, however then you really need to catch up with whomever you met. Sales Training will recognize that approximately seventy-five percent of sales representatives never follow up one time with a prospect. So if you are battling financially , you should cold calling, which means, make new friends!

Let’s count up  the potential return of venture capital for an hour of cold calling. I'm not consider a deal as the result, only a qualified lead.

Let's assume you spend a hour creating an email and sending it to an entire bunch of potential clients. How many responses  we will receive back? Do they prepared to talk business of the ones that  really do.

Imagine a scenario where you grabbed the telephone and called 20 prospects. Your response rate would be closer 10% for sure.


How much money could you make cold calling for a year straight, selling your own products or services?


Let’s use this sales metrics.


Activity:

[100 cold calls/day] x [5 workdays/week] = 500 cold calls/week

[500 cold calls/week] x [52 weeks/year] = 26,000 cold calls/year

Reach rate :

On the average, campaign has a reach rate  of around 20%

[26,000 cold calls] x [20% reach rate] = 5,200 decision-makers reached

Qualification rate:

On the average, campaign has a qualification rate of around 30%

[5,200 decision-makers reached] x [30% qualified] = 1,560 qualified decision-makers

Conversion rate :

On the average, campaign has a conversion rate of around 50%

[1,560 qualified decision-makers] x [50% conversion rate] = 780 buyers


But, you’d receive nothing without properly strategies :


Have a stone strong script.

You set yourself up by creating a convincing script. That begins with carefully working out everything, from your introduction to the types of inquiries your prospect will ask and how you'll answer it.

You need a weapons of tested lines and cases to use during your pitch. A short time later, rehearse the scripts so anyone have it memorized and it never again sounds scripted.


Keep an organized pipeline.

A pipeline is your list of prospects. It's the manner by which you monitor who you've contacted, need to connect with, and pitched. You need to take a look at sales from a base up point of view, implying that if your procedure is not good, it doesn't make a difference what number of calls you make or how great you will be, you won't succeed.


Put in the work

The people  on the flip side are as skeptical of you as you might be of them. Your task is to make a deal, and the initial step is to pick up the telephone and begin calling your list of potential customers.

 

Ensure you are speaking with the key decision maker

Talk with the decision maker — the person who will at last approve whatever you are trying to offer. Talking with any other will be an exercise in futility, since they won't be in a position to work with you.


Understand the Goal of Your Call

Most of the sales managers confuse cold calling with closing a sale. They need to understand that every sale goes through a cycle from the introduction of the offer to information gathering about the prospect to offering them the solution to closing the sale.

Ensure that you express your goal quickly, and afterward get some information about their business needs to determine there is a need to push ahead with further conversion. This will demonstrate your prospect that you are respectful of their time.


The technique of cold calling comes with experience. It is important to study all aspects of communication in the telephone mode. Also, it is necessary to know the options for answering the interlocutor in advance , possible objections, to be able to interest the client. Knowing the scheme of cold calling thoroughly helps to become a professional in this field and increases the profitability of company.

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Sergey Butko

Sergey Butko

Co-founder and Chief Marketing Officer at CallPage. Has over five years of experience in marketing. He deals with generating leads and conversion on a daily basis. He has gained experience working in a consulting firm and designing websites after his working hours. He is passionate about conversion rate optimization and lead generation strategies.



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