Whether it’s for new businesses trying to get their share of the market, or for experienced business owners, telemarketing initiatives frequently yield great returns on investment. In a world where everyone carries around a mobile phone at all times, it only makes sense for telemarketing services to be an efficient approach to close sales and find prospective clients.
In this article, we address the efficiency of telemarketing campaigns in the 21st century, and explain how telemarketing can help you generate quality leads for your business and increase your conversion rate.
What is telemarketing?
Telemarketing is the process by which a company tries to sell its products and services through a telephone contact. Telemarketing services involve cold calling, customer service, or calls based on marketing data, such as prior telemarketing outreach, emails, and social media contacts.
The telemarketing industry helps other companies with their direct marketing strategies by presenting a value proposition to prospects who may or may not be familiar with a company. It’s important to distinguish inbound marketing tactics, where prospective clients are the ones to call, from outbound telemarketing services. An outbound telemarketing strategy, or cold calling, focuses on prospects who have not yet made a purchase.
There is a clear contrast between outbound and inbound techniques when evaluating telesales/telemarketing returns. When addressing cold consumers, acquisition costs are greater and ROI is lower (in general), whereas when customers approach, acquisition costs are lower and ROI is higher.
Telemarketing pros and cons
Telemarketing refers to the practice of selling goods and services via the phone, which has both benefits and drawbacks. The positives are that it is simple to reach out or answer prospective clients and, if done correctly, it is cost-effective. However, it has a poor reputation, and some of the initial expenditures are expensive.
Advantages of telemarketing
- Customer Accessibility
- One of the benefits of telemarketing is that it allows you to quickly engage with potential customers. Inbound services allow you to respond to any query or complaint consumers may have regarding your service or product. Outbound services reach out to more customers over the phone than you can in person or through door-to-door sales. Telemarketing enables you to sell from afar and broaden your sales zone.
- Another benefit of telemarketing is that it is less expensive than making direct sales. It improves sales efficiency by generating more sales opportunities quickly. This strategy attracts potential leads, and you may buy lists of prospective clients’ phone numbers and other contact information. Telemarketing results are also simple to measure, so tracking its cost efficiency rate accurately isn’t a problem.
- Has a Bad Reputation
- Due to some malpractice in the telemarketing industry, a call from a telemarketer rarely brings a smile to those receiving an unexpected call. Fortunately, telemarketers who do not respect government regulations now face severe consequences.
- Expensive Start-Up
- Customer lists can be costly, and the information on them may be meaningless. Most people on a contact list, for example, have little interest in what you’re attempting to market. Training your team on product sales pitches over the phone can be time-consuming and, you’ll need to buy a license. This is why many businesses approach B2B telemarketing companies with sales experience to execute their telemarketing campaigns for them.
How telemarketing works
Telemarketing is generally performed from a call center. To keep above their quota, telemarketers must make a set number of calls every day. Before calling or receiving calls, they thoroughly study their clients’ files to be apt sales representatives.
Alternatively, prospective clients phone numbers are sometimes given to telemarketers. These phone numbers were either given to them as part of a survey, purchased from another company, or found in a phone book. Because most people hang up on telemarketers, telemarketers are now using automated voice messages to pre-screen prospects. If a person wishes to learn more or speak with a representative, they may just press one of the buttons. The telemarketer then picks up the phone and begins his sales presentation.
Is telemarketing still effective?
Telemarketing is a tried-and-true practice with numerous advantages over more modern methods. Telemarketing is one of the most effective ways to increase sales and generate leads for a variety of reasons. Almost 60% of Fortune 500 marketing managers claim telemarketing is very effective for lead generation and client outreach, with 90% of them claiming it’s effective.
Businesses should not underestimate the potential of telemarketing lead generation services. Given its evident success rate, the so-called old-fashioned manner of engaging clients has witnessed a surge in demand due to the eCommerce boom.
What is the relevance of telemarketing?
Telemarketing is a good approach to stay in touch with clients to gain regular feedback on your products and services, as well as to generate leads and sales for your organization. As a result, businesses have more data to respond to constructive criticism and improve their services.
Here are some of the key reasons why the telemarketing industry is still highly relevant in today’s world:
Companies utilize telemarketing to promote their products or services as well as tap into new markets and consumer bases. Existing customer satisfaction is just as important to a business as prospective client generation — telemarketers make sure that both get the attention they need and that their questions are answered.
Telemarketing can assist you in generating leads and expanding your customer base. This method is used by companies to reach out to potential clients and develop new lead lists. These updated lists are then forwarded to the sales teams, who can make contact with these consumers and close deals.
Telemarketers also keep notes regarding a potential customer’s nature and transmit this information to the sales staff. Following up after a sale is also an important part of the telemarketer’s job since following up with generated leads enhances sales opportunities by 20%.
Enhance Customer Service
It may be less expensive to reconnect with dormant consumers than to acquire new ones. Acquiring a new client is five times more expensive than maintaining an existing one. Telemarketing can contribute significantly to a great customer service experience. Potential clients, new and old, must be treated like acquaintances rather than customers because empathy is ultimately what matters.
The verdict on telemarketing and telesales
Telemarketing and telesales are far from extinct. It is still the most frequent way for businesses to communicate with existing clients in the market and generate leads. To prevent alienating potential clients, you need telemarketers who are experienced sales representatives. You need TELUP!
TELUP is a business process outsourcing (BPO) and appointment setting firm that assists businesses of all sizes with duties such as prospecting, appointment setting, sales, client loyalty, and front-office outsourcing by offering telemarketing services:
- Inbound Telemarketing: the greatest way to accelerate your business growth is to hire an external contact center and work with a qualified team of telemarketers who are highly motivated and results-oriented.
- Outbound Telemarketing: lead generation, customer acquisition, and appointment booking services can help your business increase revenues and streamline its operations!
- E-Business: our staff will fully deploy your HubSpot platform and get you on the path to marketing magic in just a few steps.
Hundreds of successful telemarketing campaigns have been conducted by our telemarketing professionals for businesses aiming to boost leads, phone calls, transactions, and traffic to their website.