Is Telemarketing still a relevant source for Lead Generation?
As the digital sources emerged to generate leads and keep customers engaged, telemarketing made some businesses cringe. With some criticism and skepticism surrounding the use of telemarketing today, many doubts still exist in its effectiveness in lead generation. But with the COVID-19 crisis, there has been a fundamental change in consumer as well as corporate behavior. The New Normal has forced leaders to adopt some new and some old practices to keep businesses running.
What is Telemarketing
Telemarketing is a method of direct marketing that involves contacting potential customers over the phone to promote a product or service. Telemarketing can be done through an in-house team of telemarketers or outsourced to a telemarketing company that specializes in lead generation
- Telemarketing involves contacting potential customers over the phone to promote a product or service.
- It can be done in-house or outsourced to a telemarketing company.
- Telemarketing is a form of direct marketing that has been around for many years.
Here’s why Customer Support in e-Commerce is more important than ever
Why Is Telemarketing Used for Lead Generation?
Telemarketing is a time-tested technique that has many advantages over more contemporary strategies. For many reasons, telemarketing leads remain one of the best means of boosting your sales and revenue. Almost 60% of marketing managers in Fortune 500 companies say telemarketing is “very effective” for leads and customer outreach, and when those who say it is only “effective” that percentage is nearly over 90%.
Even though, businesses underestimate the potential of telemarketing lead generation services at their peril. The so-called old fashioned way of engaging customers is getting back on the bandwagon, given its obvious success rates.
Let’s look at some of the many reasons why telemarketing can prove to an effective form of lead generation in The New Normal.
Human, empathetic, and interactive
Telemarketing provides direct person-to-person contact with potential customers rather than the cold approach of an email. Telemarketing leads are more likely to engage and attract the person on the other end of the line. Especially, if proper research has been conducted before telemarketing calls, ensure decision-making authority, to pitch your products and services to the correct person. While emails are easily ignored, a person-to-person call will also ensure that you get a quick response, in some form, from your prospects.
68% of B2B sales were found to involve some form of human interaction such as telemarketing. Customers have been found to respond better to the human touch than to some other form such as digital marketing.
Words are not the most important aspect of convincing someone either. Instead, personality and tone of voice are essential ingredients for developing sales leads. Telemarketing allows a human to touch those other methods of lead generation lack. Through these advantages, the leads that are developed through telemarketing are sure to be the highest quality leads available. These can be passed on to the sales team to increase the chances of persuading them to do business with your company.
Essential for lead nurturing
Telemarketing has evolved beyond simply calling and selling products. It has become essential for a business to establish its presence and brand identity, provide support, and enhance customer experience and even for retaining a loyal customer base. Even if you use other forms of lead generation, a salesperson would have to back upon telemarketing to nurture a potential lead. Again, the emphasis lies on human contact. Till a customer can add a human voice to a company, they wouldn’t trust it completely. Your brand instantly creates a rapport with customers.
Flexible and transparent
One of the big advantages of telemarketing over other forms of lead generation is the ability to adjust and alter your approach depending on how things are going. If you find that your current script or approach does not seem to be generating the high-quality leads that you were expecting, you can switch things up and experiment in real time to ensure that you are moving forward with a method that works.
Lead Generation & Qualification
Telemarketing for Lead Generation: Tips & Best Practices
While telemarketing can be a highly effective tool for generating high-quality leads, there are some things to keep in mind in order to maximize its effectiveness. It is important to keep in mind the changes in marketing that are shaping the industry today to make telemarketing efforts relevant.
- It is important to be interactive with the leads that you call. While it is important to have some form of a script to ensure that everything critical to your business is said in the initial contact with a prospective client.
- It is important not to be too rigid. This can quickly reduce calls to an annoyance rather than an opportunity for your business to expand its client base.
- Researching prospective leads is also important. Rather than cold-calling all potential leads, it is important to narrow down the list to the most promising prospects.
- To solve both problems, it is ideal to outsource your telemarketing to a professional team. This will allow you to rapidly generate the best leads organically.
- Take immediate action on your call. If you have been told to share some information, share it right away
Advantages & Disadvantages Of Telemarketing
Telemarketing is a marketing strategy that involves direct communication between a marketer and a potential customer via telephone. This approach has both advantages and disadvantages, as outlined below:
Advantages of Telemarketing:
- Personalized approach to lead generation: Telemarketing allows for personalized interaction with potential customers, which can lead to better engagement and increased conversion rates.
- High-quality leads: By directly contacting potential customers, telemarketing allows for the identification of high-quality leads that are more likely to convert into customers.
- Cost-effective: Compared to other marketing strategies, telemarketing is often more cost-effective, as it requires less investment in advertising and other promotional activities.
- Real-time feedback on customer response: Telemarketing provides real-time feedback on customer response, allowing for the adjustment of marketing strategies based on customer feedback.
- Ability to build relationships with potential customers: Telemarketing provides an opportunity to build relationships with potential customers through personalized interactions.
Disadvantages of Telemarketing:
- Negative public perception: Telemarketing is often viewed negatively by the public, as it is seen as an intrusive and annoying marketing tactic.
- Can be seen as intrusive or annoying: Some customers may find telemarketing calls intrusive or annoying, leading to a negative perception of the brand.
- Can be time-consuming and labor-intensive: Telemarketing can be time-consuming and labor-intensive, requiring significant resources to manage the process effectively.
- High rejection rate: Telemarketing can have a high rejection rate, as many customers may not be interested in the product or service being offered.
- Legal compliance issues: Telemarketing is subject to legal regulations, including the Do Not Call Registry, which can create compliance issues for marketers
Types of Telemarketing Activities
There are several types of telemarketing activities that businesses can use to generate leads:
Outbound telemarketing involves making calls to potential customers to promote a product or service.
Inbound telemarketing involves answering calls from potential customers who have expressed interest in a product or service. This type of telemarketing is often used for customer support and sales.
Lead Generation Telemarketing
Lead generation telemarketing involves calling potential customers to generate leads for a product or service. The goal is to gather information about the potential customer’s needs and interests and then use that information to make a follow-up call or send marketing materials.
Market Research Telemarketing
Market research telemarketing involves calling potential customers to gather information about their preferences, opinions, and buying habits. This information can be used to improve product development, marketing strategies, and customer service.
Appointment Setting Telemarketing
Appointment setting telemarketing involves calling potential customers to schedule a meeting or appointment. This type of telemarketing is often used for B2B sales, where face-to-face meetings are important for closing deals.
Upselling and Cross-selling Telemarketing
Upselling and cross-selling telemarketing involves calling existing customers to offer additional products or services. The goal is to increase the value of the customer’s purchase and build a stronger relationship with the customer.
Overall, telemarketing activities can be an effective way to generate leads, build relationships with customers, and gather valuable market research data. However, it is important for businesses to be mindful of compliance regulations and avoid engaging in intrusive or annoying telemarketing practices.
How Telemarketing Works
Telemarketing is a form of direct marketing that involves contacting potential customers by phone to promote a product or service.
Here are the typical steps involved in telemarketing:
Identifying the Target Market
The first step in telemarketing is to identify the target market. This includes determining the demographics, interests, and needs of potential customers. This information is essential for creating a targeted telemarketing campaign that is more likely to generate leads and conversions.
Creating a Telemarketing Script
Once the target market has been identified, the next step is to create a telemarketing script. This should include a clear introduction, key information about the product or service being promoted, and an effective call-to-action. The script should be well-rehearsed to ensure a smooth and professional call.
Making the Call
After the script has been prepared, telemarketers begin making calls to potential customers. They introduce themselves, explain the purpose of the call, and engage in a conversation with the customer to gauge their interest. Telemarketers should aim to build rapport with the customer and address any concerns or questions they may have.
Finally, follow-up is essential to building relationships and closing sales. After a call, telemarketers should make an effort to follow up with potential customers to answer any remaining questions and to keep the lines of communication open. This can be done through email, direct mail, or another form of communication.
Overall, telemarketing can be a powerful tool for businesses looking to generate leads and increase sales. By following these steps, telemarketers can create a targeted and effective telemarketing campaign that resonates with potential customers and generates results.
Generate leads the right way with Telemarketing
If your business has neglected telemarketing for lead generating, then now is the time to set a new course. There are many good reasons why this is very effective for generating leads.
In order to push revenue for your business, find a professional team to outsource your telemarketing needs today to make the most of your lead generation opportunities. Save your business a lot of time and resources by outsourcing lead generation activities. Telemarketing campaigns are known to have the highest profit margin compared to other forms of lead generation. Free your sales teams of time spent entering data, researching potential leads, etc.