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Minimize the Risks of Outsource B2B Telemarketing Through Pilot Campaigns
Uncertainty is part of B2B telemarketing. Outsourcing outbound B2B telemarketing or, in general, outsourcing requires a test of faith as it is a balancing act between rewards and business risks.
Whether you are new to outsourcing or just looking for a B2B telemarketing partner, a pilot campaign is always a good idea.
Why Is Pilot Campaign Good for B2B Telemarketing?
Regarding B2B telemarketing, 99.2% of leads never become customers, so jumping the train without testing it first is never wise. This is where pilot campaigns suit B2B telesales and B2B cold calling services.
It can help you gauge your outsourcing provider’s capabilities to handle your account and targeted audience. What most businesses miss is that a pilot campaign is also a perfect strategy for the following purposes:
- Assessment of your current market situation
- Method to test the response of your target customers with your marketing messaging
- Evaluate your marketing distribution methods
- Identify and delve into the potential markets you have yet to tap
Outsourcing requires investments such as time, money, resources, and business risks that come with it. Now in a pilot campaign, you are practically minimizing these factors.
This will help you understand if your outsourcing partner can deliver your required qualified leads within a given time frame. As well as the potential costs and your expected results like the quality and quantity of the tips and ROI.
Best Practices To Follow In Setting Up A B2B Telemarketing Pilot Campaign
Regarding pilot programs, your outsourcing partner focuses on a sample of your targeted prospects. How small or big a model is depends on your requirements and target market.
The pilot campaign is again a testing ground for your B2B telemarketing provider. This is a valuable opportunity for your business to test, measure, and improve every aspect of your telemarketing campaign.
This also means to minimize the financial risks that come with outsourcing. Best practices in setting up your B2B telesales or B2B cold calling services are the following:
Ask the Right Questions
There is no cookie cutter regarding outbound B2B telemarketing pilot campaigns. The first thing to do is ask yourself these questions:
- What are your objectives?
- Do you want to drive sales?
- Do you want to tap into a new market base?
- Do you want to cut costs in your telemarketing efforts?
Asking these questions will help you set measurable metrics applicable to your business.
Set the Appropriate Lead Sample Size
In doing this step, always remember that too small is difficult to get statistically reliable results from. While too big, it is pretty costly once it fails. Remember these two factors when doing so:
1. The lead sample size should be enough to produce statistical validity for testing the lead sample. It is also enough to accurately show your outsource B2B telemarketing call center’s skills and abilities.
2. Lead sample size should give enough experience for your outsource B2B telemarketers regarding sales pitch and marketing messaging. This enables them to deliver conversations with confidence, proficiency, and enthusiasm.
Most B2B telemarketing providers often deal with smaller sample sizes. Too big may involve too many variables and be challenging to measure. Also, a pilot program with too big samples is more expensive. It also tends to deplete your pool of targeted customers.
Set A Time Frame
Setting the time frame is also crucial for pilot programs. 4-8 weeks may be too short to return reliable insights. Worst, it may return inconclusive or inaccurate results. Results are not helpful to your business in determining if B2B telemarketing is a working strategy for you.
A good benchmark is to invest 12 weeks into the pilot campaign. But it also depends on other factors, like your sample size, product or services, and the lead quality you wish to converse with and convert into sales.
In a pilot campaign, the difference in the average quantity of leads from the first month versus the third could increase by at least 54%. That is why giving it ample time to realize its full potential is best.
What’s Next for B2B Telemarketing Pilot Campaign Running?
Aside from testing your outbound B2B telemarketing provider, pilot campaigns provide two critical results. These are reporting and mid-course corrections.
For reporting:
You and your B2B telemarketing service provider should analyze the results. Analyze the data and make adjustments to refine your messaging, further zoom in on the target audience, and other campaign elements.
This requires detailed and quick reporting. You may ask your partner to provide you with information such as:
- Number of calls that resulted in new leads
- Appointments set with decision-makers from the calls
- Completed surveys
- Rejections
- No contacts made
Furthermore, these are the Key Performance Indicators (KPIs) you can start looking to assess the performance and productivity of your outsourcing provider. These indicators are also suitable for determining, evaluating, and measuring pilot campaign performance.
|
KPIs for Pilot Campaigns |
What it Does |
| Sales Per Hour (SPH)
Formula: SPH = x no. of sales made / no. of hours |
This is a general metric for B2B telemarketing providers to measure success rate. This is also a good indicator for a pilot campaign as you can determine what’s effective even in the earliest stages of its course.
However, it is good to remember that this is the proverbial test drive of your campaign. Therefore you should let it mature for a bit before you can get a reliable SPH. |
| Contact Per Hour (CPH)
Formula: CPH = x no. of total references made / x no. of total hours |
This is to determine the average of targeted leads your B2B telemarketing team can contact per hour. For your pilot campaign, this will help to determine the best time to get authorities.
With this KPI, you can identify peak hours or peak days and adjust accordingly to your advantage. Also, lower CPH does not always mean the negative. Conversion takes time. Lower CPH could mean more sales or the opposite. |
| Conversion Rate (CR)
Formula: CR = x no. of total contacts / x no. of total sales |
This is to evaluate how your provider is doing when they reach the decision-maker to proceed with the sales. For a pilot campaign, this will also help you determine how fast your B2B telemarketing provider can reach decision-makers.
You can draw insights such as working scripts and appropriate rebuttals or fine-tune the right market to call. |
| Average Talk Time (ATT)
Formula: ATT = x total of hours talking to customers / x total of customers talked to |
This helps identify areas of opportunity to improve the script or if the message is passed to the customer early in the conversation.
For your cold calling campaign, high ATT could mean the script is weighing down the conversation and thus needs fine-tuning. |
| Dials Per Hour (DPH)
Formula: DPH = x total dials / x total hours |
In B2B telemarketing, fewer contacts mean a lower conversion rate. This is one of the most critical metrics there is. The pilot campaign will give you insight into the efficiency of dialing techniques. Its results could also affect all other metrics, so you better monitor this KPI.
Good to note that higher dials are often associated with low contacts per hour. Each dial should be productive, not only in quantity. This will also give you insight into whether your provider is trying to reach the decision-maker after they hit voicemail. |
| Return on Investment (ROI)
Formula: ROI = x total sales revenue / actual cost of the pilot campaign |
This is a crucial KPI, especially for pilot campaigns. Depending on your requirements, you can have this halfway through the course. This is to ensure you pass the ramp-up time to determine whether the pilot campaign is set for success or not. |
For Mid-course corrections:
The key here is open communication between your business and provider. This should help you determine their impression of the calls. Determine what’s working and not. Call calibration and identifying effective B2B cold calling service techniques are what you can do here.
Pilot campaigns should help you determine its likelihood of success in the long run. As well as to help you decide whether you are with the right partner or if it is worth investing in an entire blast campaign.
Looking for an Outbound B2B Telemarketing Partner? Your Search Is Over.
We are Magellan Solutions. Our 18 years in the BPO industry provide us with impeccable B2B telemarketing experience. We employ the best agents to reach and converse appropriately with your targeted leads.
Magellan Solutions is ISO 27001-certified and HIPAA-compliant. No matter your business, we promise data security at its finest.
We strive to reach and exceed your requirements at best. Our business development managers can help you set up pilot campaigns with your perimeters as clear as day.
We want to challenge ourselves and sustain your desired deliverables. Contact us today, and let’s aim for a long-term partnership once we prove ourselves. Fill up the form below!
