Key Analysis to design Strategy for BPO / Outsourcing units / Cold calling companies:
Cold calling is one of the key processes for many BPO, Outsourcing organization and IT business development division. I analyzed from my 5 years of BPO career that if we scrutinize data of calls, repeat calls, day base closers etc factors then we can derive very important method which help us to ensure that none of the productive moment get lost.
To get maximum output from your cold calling / lead generation team you need to keep these factors in mind.
A: Do not afraid to do follow ups and repeat calls:
You will be surprise to know that out of every 10 calls more then 8 get closed with success if you put attempt 9th time to close the deal. That result is quite interesting. If you focus on all call backs and follow up properly then numbers will grow like anything with strategic approach and right pitch.
B: Day you never afford to give leave or Holiday to your team:
If you run call center in cross culture country and your holiday do not match with your calling zone then you need to know this matrix to ensure productivity. In chart you can see lead count per day base upon 5 campaigns I measured with data. Out of five one was Mortgage campaign for appointment setting, one was product demo setting, one was IT website services B2B, one was Telephone company and last one was online market research.
Result shows that you cannot afford your employee’s leave on Wed-Thu and Friday. Thursday seems to be a key day followed by Wednesday. Human psychology behind that is very simple, Monday and Tuesday has maximum work load due to weekend non-working environment. Wed will be less busy and Thursday has maximum space for working people to talk or speak. Same due to week end, Friday projected customer get more time to talk in comparison of Monday and Tuesday. So, Design your leave calendar accordingly.
C: Best Time to contact:
Above chart shows that 8 – 9 AM and 4 – 5 PM will be the best time to get highest contact ratio as per the research of Kraig Kleeman and Ken Krogue . As per the data of telecommunication licensed calling in USA these contact ratio matrix is derived. So do not arrange break of your employees during above pick calling hours. Make sure that break will be defined during minimum calling ratio only for better output.
D: Phone number selection:
This data analysis shows that if you have local presence to particular place where you are calling, you have 5 times more chances to get closer. It saves cost of 4 more resource of yours and improve your sales numbers and cycle too. On many cases it goes up to 50% and above if you are running demo base campaign.
E: Quick Call for Web leads
If you call with in 5 min of inquiry received on your website, which will get you 30 times more chances of getting closer. If you do not call them in first 5 min then consumer is in a frame of mind to convert thought with positive outcome towards his / her requirements.
Again, in A to E, right pitch, right knowledge of product or services and right voice modulation base approach is required to bring given percentage as output.