While it may seem that giving up on a lead after five attempts to contact him or her five saves time, it is actually a huge time-waster. After spending thousands of hours and dollars creating and maintaining a campaign to attract leads, failing to follow-up effectively is in effect dumping all those hours and dollars down the drain.
Jacques Werth, the author of High Probability Selling, quotes a 14% contact ratio in a business-to-business environment. Our studies show B2B prospecting contact ratios hovering around 10% across most industries. However, our studies also show that if a sales rep attempts to contact a lead 4 to 6 times, he or she reaches a lead contacted ratio of 55%. Such low actual contact ratios tell us one thing: most sales reps are giving up too early!
We also found that most sales reps make follow-up calls at roughly the same time each day. This seems counterintuitive: if a lead is unavailable in the morning, continuing to call them each morning for five days will waste time and yield little result.
A recent study we did in conjunction with FranklinCovey and published by MarketingSherpa yielded some very interesting data about what time of day is most productive to call leads back. See MarketingSherpa Article
A dialer can help solve these problems, particularly one that can try calling a number at different times of the day and on different days of the week in order to ‘wring dry’ a leads’ potential value. Some of our clienets make twenty to fifty attempts on each lead, calling mornings, afternoons, and evenings. Our internal staff and many of our clients contact between 80% and 90% of all contactable leads.
Best Practice: Track every dial and every contact. Separate your contactable leads from those without viable contact information. Track how many attempts your sales reps make to contact leads and the actual percentage of contacted leads for 30 days. Once you form a baseline, begin increasing contact attempts to increase your contact ratio up over 80%.
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