In order to close sales, your company must spend a significant amount of time tending to the right leads. Someone must be responsible for cold-calling and pre-qualifying activities, even when these tasks seem less valuable.
With disciplined prospecting, your sales campaigns have a higher chance of success. You generate more revenue when no detail of your B2B appointment setting process is missed.
If your sales pipeline is running low on qualified leads, it’s time to rethink your lead generation strategies. The following reasons explain why your B2B appointment setting methods may not be working:
1. Your Sales Database Is Not Being Used To Its Potential
With the exception of your sales team, your company has no greater revenue-generating asset than your database of leads and prospects. However, if this resource is left untapped, you are missing out on valuable sales conversations.
Multiply your rate of contact with leads in your database. This helps you figure out what you need to do to bring more opportunities through your sales pipeline.
You should aim to contact everyone in your sales database two times per year in order to clean out old contact information and identify quality leads. When you stick to this schedule, you close more deals with a reduced dependency on new outbound prospecting.
2. Your Leads Are Not Qualified
If you’re not pre-qualifying leads before you set appointments, your sales team is losing valuable time.
Many companies use the acronym BANT (Budget, Authority, Need and Timeline) as a standard for lead generation and qualification. However, this approach is no longer the best method for selling to today’s buyers.
Instead, your leads should be qualified based on the ODAC methodology:
- Open – Your sales team uses an open, customer-centric approach from the first call to the last
- Discovery – Learn about your prospect’s current pains and problems
- Agreement – Get your customer to envision your product working for them
- Close – Guide your prospect through the logistics of their decision to buy
3. Your Salespeople Schedule Their Own Appointments
Of course, your salespeople are capable of scheduling their own appointments, but this isn’t the best use of their time. Your sales team instead needs to focus on closing deals.
Finding leads is the responsibility of your marketing and demand generation teams with business development representatives setting appointments for quality leads. Otherwise, your salespeople waste hours of time that should have been spent speaking with qualified prospects.
How do you measure the success of your B2B appointment setting process? Close rates are only a small portion of the bigger picture. Instead, your cost ratio is the determining factor. Focus on your cost of sales acquisition versus the cost of your product or service delivery.
With the right qualified leads coming through your sales pipeline, you are setting your business up for increased revenue generation in the future.
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