Here at Aavaz, we get hundreds of leads signing up for our software trial.
As these new leads fall into the sales process, we’ve discovered that some clients know exactly what they want and know what our product can do for them while others have the right idea- but have not implemented the right strategy.
For the latter, we tend to take on a consultative role to see to it that they’re suited for success before they purchase Aavaz.
And while taking on a consultative role was never in the plan we’ve learned that doing this helps our clients define the strategy they want to pursue versus simply buying a product for the features it offers.
This is what prompted us to compile most of what we say within this article series in order to share our knowledge with other Small and Medium Businesses (SMBs) so as to better guide them and make them our lifetime customers.
STRATEGY vs TACTICS
Forgive the seemingly obvious-ness of the statement below and instead take it for what we’re intending it to be- a gentle reminder that you should slow down and take the time to draw out your plan and only then– execute.
There are 2 main stages of readiness when it comes to telemarketing, telesales or any other telephonic activity. They can be outlined as
We will help identify the difference in more detail below but primarily– the way to think about where you are in terms of Strategy vs Tactics is to ask yourself if your goals, lists, scripts are all aimed at the same unified goal.
For example, if you’re still trying to sort out whether you should get entry-level callers vs. seasoned sales people—it’s pretty safe to say- you’ve skipped the overarching strategy. Why? Because the cost involved between these two levels of sales is going to directly affect your budget.
It is fairly easy to see how these two stages often get intermingled because each stage requires a specific set of planning that can easily intersect between strategy and tactics. We’ve outlined a path to follow that will help you overcome some of the cross over between the two.
IDEA GOALS :
The first thing you will want to do is identify your goals.
As soon as you start thinking about making calls- is when you will automatically and un-intentionally start to set plans.
Your goals can be identified as new product launch awareness, warm prospect incentives, re-activation, holiday greetings, birthday greetings, fundraising, cold calling, prospecting and so on.
Those are what we call- idea goals. It’s where the ideas are taken a little further into discussions and broad strokes strategy starts to form.
This is the stage where you start to think about what kind of lists you want to target, what you might want to say, what incentives you can offer and afford and so on. And while this is the right kind of thinking- it would be beneficial to run the numbers first.
When our clients realize the advance planning that is required in order to have a successful campaign, they typically get overwhelmed by just how to calculate the perceived outcome.
One of the important things to do- akin to dipping your toes in vs diving head in first is setting up a test run yourself. Run a test on your regular landline phone with an excel sheet to establish a (weak) baseline of leads you can generate from a file of a 100 contacts. This will enable you to assess the efficiencies from using a new system like Aavaz.
In order to simplify your planning- we recommend that you get the following metrics in order would greatly help you with gauging performance:
CALCULATE YOUR GOAL METRICS HERE
Caller salaries, initial set up hours to upload, learn the program, create documents, write scripts etc (divided by their hourly/daily rate), manager salary etc
Money spent to advertise, incentive costs (ex. iPad giveaway), list purchase etc
Test Results: Total number of contacts in file
Test Results: Total number of contacts in file
Test Results: Total number of leads generated from your file
The number of people who have converted into LEADS from the # of contacts above
Test Results: Total number of leads who turned into customers
The number of leads who have converted into SALES from the # of contacts above
|% Lead Conversion||%|
|% Sales Conversion||%|
|Cost per Lead with hard and soft spend:||$|
|Cost per Lead with Hard Spend:||$|
|Cost per conversion with Hard and Soft Spend:||$|
|Cost per conversion with Hard Spend:||$|
You’ll notice that we have separated out the hard spend because typically- your soft spend is fairly consistent (your staff costs remain the same in general).
Really, it’s your hard spend against campaign performance that matters.
Next: Assess your Product costs/pricing against these metrics. Click here for details and calculators on that here