The age-old maxim – “if you can’t measure it, you can’t manage it” – stands completely true in regards to telemarketing. More often than not, organizations find themselves in a situation where their telemarketing efforts aren’t producing desired results, but there is no clarity on the cause of the problem. Whether you have outsourced your telemarketing process or have it in-house, understanding how to measure performance is the key to identifying and solving any underlying problems that can impact end results. Here are three key metrics to evaluate the productivity of telemarketing and the effectiveness of a business phone number list
for successful telemarketing campaigns.
1. Phone Numbers List Quality
Measuring the response rate from different companies is one of the best ways to identify whether the database you have is right for your offering. In telemarketing, many times agents call people who are not decision-makers. Eliminating such contacts from the list can help you improve your existing data and enhance the productivity of your agents. For instance, if the study of the response pattern shows that prospects from a certain industry are more receptive to your offering, you can easily cut out the less relevant data to boost the results. By analyzing the pattern frequently, you will be able to narrow down your data to potential clients for your offering.
2. Sales and ROI
If your business generates leads through phone calls, the key performance metric is sales. Also, you need to evaluate your marketing return on investment and find out whether your telemarketing campaign is costing you more than you make. Prepare a list of all costs attached to telemarketing against the number of sales you have made. Then, assess if the ROI warrants the investment. Assign a proper time frame for the assessment while factoring in the size of the average order received and the complexity of the sale and target market. For example, telemarketing for a high-value product may take a little longer in lead generation than small value sales.
3. Conversion Rate
The number of calls that convert into leads also defines the success of telemarketing. It is a tricky process, though. We don’t always generate leads via telemarketing; some are generated through the website and other interactive platforms. Nevertheless, if telemarketing is an important part of your marketing campaign, you ought to assess the success rate of telemarketing. You weekly or monthly calls record including conversion rate act as a benchmark for successive telemarketing months. If your business involves excessive calling, hourly or daily monitoring may be required to measure the success rate.
Primary & Secondary Productivity Indicators for Outbound Calls
- Leads or sales/ hour (-bad sales)
- $$ in sales/hour
- Conversion ratio (-bad sales)
- % Good (vs.Bad) Leads or sales
- Not interested/hour
- Bad numbers/hour
- Pending/ hour
Phone List Effectiveness Indicators
- Lead Ratio-leads/contacts
- $$ in sales/hour
- Revenue ($$)/ sales
- Percentage of unreachable contacts
- Percentage of bad numbers
The Bottom Line
Quality data is a kingpin for any telemarketing campaign
. Besides, to yield optimum returns from your efforts, your phone number lists must be up-to-date. TelephoneLists.Biz offers you high-quality business phone number lists with all the details required to help your sales agents deliver on their KRAs. You can be as specific with your lists as required, and choose contacts based on their demographics, business revenue, industry, number of employees, and other distinctions. To learn more, feel free to call us at our helpline number for a no-obligation consultation.