Outbound prospecting can be challenging for many. Identifying the right verticals/industries to focus on and who the decision makers are for your offering (can be a few), getting the best data and connecting with them all are moving pieces within the sales process.
Assuming you have all these questions answered and you feel with certainty that you know your target market and who are the decision makers and you have solid data (phone/email/physical address) you can start a prospecting campaign.
So what do you do first? Do you call? Do you email? Hit them on social, then call or email? What are the tactical steps to get to your prospects to increase your hit ratio to have a conversation?
Inside Sales (click here for data) did a study of outbound prospecting, reviewing almost 480,000 sales activities, across almost 1500 sales cadences to reach prospects. In addition, after speaking with SDR’s and account managers they identified that many sales reps thought they were hitting prospects regularly ( i.e. 12 times), based on verbal responses when questioned, while the data revealed they were averaging about 3 contacts.
The 12-15 contacts per prospect ratio is a number that is thrown around in sales and marketing circles as the level of effort it takes to get to a prospect. So it seems that many sales reps parroted that number. Polly want a cracker?
So the real number based on this study is about 3 contacts. After going through the data, this is what was revealed and what is suggested as a strategy to hit your prospects in order to get a conversation or a response.
A sales cadence analysis revealed that 6-8 contacts (email, voicemail, dial) over 6-8 days was the ideal ratio returning an 80% success rate. Here are the tactics:
1. Send an email first, then in 1-2 days after that do # 2.
2. Dial, Voicemail, Dial, Voicemail, Email, Dial.
Total of 7 touches, including the 1st email sent. Can be 8 hits, but that's it. The data has shown that going more or less than these numbers of touches, over a longer or shorter time frame does not increase your hit rate. You experience the law of diminishing returns in real time.
Even though you followed this process, some may not respond. These can be the 20% that don't respond, it happens. You can keep them on your email list or use other marketing approaches to stay in front of them when they are ready to buy.