cold calling services
We cover many areas through our cold calling services from insurance cold calling to real estate cold calling to cold calling telemarketing. Our cold calling services can help you with the following –
- Define your markets
- Research a company’s business and their human resources needs
- Craft good calling scripts
- Conduct e-mail campaigns
- Send out useful introductory notices
- Conduct cold calling lead generations to capture prospects
Cold Calling: What is the average sales conversion rate for an outbound telemarketing campaign?
Cold Calling to Gold Calling! Conversion = Profit
Outbound telemarketing or better known as cold calling is one of the marketing tactics that businesses utilize to get customers and increase their revenue.
What is the Average Conversion Rate?
According to Peter Myers, “.” Given this rate, you can calculate the number of conversion following this example: If you make 80 contacts per day in 5 days a week, you will get 8 conversions. The equation is 400 contacts multiplied by 0.02, or 2 percent equals 8 conversions in a week.
If it is this simple, we will not be needing other marketing tactics, will we? If we are guaranteed on the result, we will just make an adjustment in our cold calling, won’t we?
But, you and I know, this is not true in all situations. Determining the average is tricky. If one factor moves, it will affect the outcome.
Perhaps, the better question should be “what is a Good Conversion Rate?”
Here are some factors that can help us understand our conversion rates:
- Depends on What Do You Count as a ConversionFirst, it is important to determine our conversion. There are a lot of trackable action in our business aspects that can be considered as conversion: calls, form submissions, emails, click-to-chat engagements, website visitors, etc. Know that the conversion rate of one tool is different from the other. You cannot compare an apple to an orange.
- Depends on What Industry You’re InIf you will research different industries, you’ll notice that there are businesses who get lucky in certain tactic. It would be helpful if you look for the data in your industry and find what is working in your niche. However, you have to make sure to filter your data to ensure that it is relevant and updated.
- Depends on Who You are Trying to ConvertYou cannot go shotgun and call everyone. You will get better results if you will spend your time and money researching for your intended targets. The better way to go is common sense. You won’t sell your product to your competitor, will you?
- Depends on What it Took to Get ThereYou may do everything to reach your conversion goal, but if the cost you spend in your effort is more than the revenue, it smells trouble.
In my opinion, a Good Conversion Rate is the conversion rate where you could Turn if not Increase your Profit.