Is telesales still an effective sales strategy in today’s market? You may be surprised that, despite its questionable reputation, telemarketing, when done with respect and thoughtfulness, is still considered one of the most powerful ways to generate new leads and close sales.
Along with reaching the target audience and collecting valuable information, telemarketing has also proven to be effective in nurturing and qualifying leads, setting appointments, and managing accounts.
However, it should be remembered that the launch of a telesales campaign is a starting point, which does not guarantee the success of direct sales. The key point is the right approach to telemarketing.
Therefore, to achieve the desired results and ensure a stable working process, it is recommended to develop and follow an effective telemarketing strategy.
Why Do You Need A Telemarketing Strategy?
After you decided to use telemarketing as a business search tool, the next logical step would seem to be to write a script and start your call effort, wouldn’t it?
Or maybe not. It might limit the results of your campaign from the start. Most people think that a telesales campaign consists of a good script, trained callers, and aggressive calls.
However, keep in mind the goal of any business development campaign: profit. Profits come from sales, sales from customers, and customers from prospects.
The following recommendations for conducting a search and exploration campaign allow users to develop a comprehensive telesales campaign, working through a program using key phases or components. This is called the “from perspective to profit” model.
The Development Phase
The development phase should begin with knowledge transfer. Write a short description of everything you would like to see in your program. Include the focus call, the messages you want to transmit, the target market, the names and functionality, and, most importantly, the information that will be captured.
It will help you communicate effectively with the project manager, the outsourcing provider, and others involved in a successful campaign.
It supports your training and scripting according to the overall campaign objectives and also gives you a vivid idea of the type of database you will need to make calls.
The development phase is also the best time to define your leading criteria. Once this is done, define measurable goals for the number and type of expected potential customers (e.g., 35 potential customers, 20 potential customers, five “A” potential customers) you’d like to identify from your campaign.
Then examine the methods of allocating potential clients to ensure that they meet the needs of the distribution channel, and how much priority is given to allocating potential clients.
If your company has only one product or solution category, or if you need to create a business for a niche service line targeting a specific or unique type of decision-maker, a tactical, focused call method is appropriate.
In this method, a telemarketing representative leads a discussion on each call and focuses on one topic.
If your organization has a wide range of services that tend to target the same demographic and decision-makers, then perhaps you should take a needs-based approach to tele-intelligence.
The caller starts each discussion with current open probes, then checks out the relevant details based on the stated needs of the prospect.
This approach leads with a focus for the call. It then opens a needs-based dialogue at the end of the conversation. The selected call method will be determined by the skill level of the caller or supplier.
Once the call has started, continue to participate actively in the conversation. Use any available monitoring or listening options, and immediately schedule a regrouping session for one or two days after the call.
This session will allow you to identify opportunities for improvement and enhancement of the campaign at an early stage. Attendees should include the actual subscribers working on the program.
Photo by Dane Deaner
Finally, brainstorm on the feedback process that you will use to gain insight into your leadership quality and results. Feedback templates, or other elements related to leadership results, can be useful. However, if you tend to have trouble getting information from the sales channels, consider using post-contact courtesy calls.
Ask your company’s representatives to call back a random segment of potential priority customers using the introductory information from the “politeness call again” and ask what happened.
It is perceived not only as a professional courtesy but also as a very simple and effective way to capture the tangible results of your campaign and show you what prospects are on the way to becoming profitable.
How To Start A Telemarketing Business
If you’re looking for a cost-effective startup idea with minimal setup costs, consider setting up a telemarketing company. The key steps to starting a telemarketing business:
- Understand what skills are needed to start a telemarketing business.
- Identify your target audience and sector.
- Consider the regulation of telemarketing, including GDPR.
- Set out your requirements for telemarketing equipment.
- Note the other costs, including those for the scenarios.
- Estimate income models.
- Build a clear marketing strategy to convince clients.
Telemarketing is the connection of business with potential customers by phone. It can include sales and marketing activities, as well as surveys.
It requires patience, perseverance, and the ability to talk to a wide range of people. Starting up a telemarketing business is ideal for entrepreneurs who want to run a very diverse company, where even two phone calls are unlikely to be the same.
What kind of personal qualities and skills do you need?
Starting a telemarketing company can be a good business for you if:
- You have strong communication skills.
- You’re highly organized.
- You’re a “people person.”
- You can be persuasive.
- You’re a good listener.
Building The Strategy To Win Your First Customers
1. Consider Which Type Of Telemarketing Business To Start
The first step you should take is to choose the type of telemarketing business that you are going to start. Although you may think that all companies in this field are the same, there are some key differences that you should understand.
Below we have broken down some of the key terms and offer a guide to choosing a sector that suits your business and you.
What is the difference between B2C and B2B?
These two terms are often used when describing a business, and knowing what they mean and what the difference is is crucial.
It applies if you want to know how to start a telemarketing business as well as other types of business.
Business-to-business (B2B) – Asking businesses to promote a product or service. For example, IT telemarketing services will require you to ask the appropriate IT companies about hardware or software requirements.
B2C (Business-to-consumer) – A call to individuals to promote a product or service. For example, we are conducting telemarketing research through telephone surveys to collect information on consumer perceptions and trends.
Understanding the differences between the two types of telemarketing can help you identify your target audience.
What sectors can you work in?
There are many sectors in which you can work. In addition to focusing on the B2B or B2C markets, you can clarify and focus on specific sectors. For example, the finance, charity, insurance, and pension sectors are all possible.
If you do decide to specialize, the real understanding of who you are talking to becomes even more critical. For example, a medical answering service and the landlord who is looking for home insurance have entirely different needs.
If you start a business and have gained experience in another profession, use your knowledge and expertise to help you make your choice. Alternatively, if you have the right skill set but lack industry knowledge, think about gaining some experience in the area you want to focus on.
Also, use a fresh perspective on things to your advantage – look for opportunities and challenges and find creative solutions in your business.
Whichever approach is right for you, you’ll get an idea of the industry you want to work in, as well as basic jargon, plus industry trends and pain points.
Examples of sectors include:
- Mobile phone plans
If you speak several languages or hire staff who can do so, you may consider developing your business internationally.
Whichever sector you choose, be sure to look at the demographics of the target audience you want to focus on. It also means understanding who your competitor is and how you can differentiate your business from it.
Once you have identified the market that you want to enter, you can focus on how you will find your target audience and build your forecasts.
To help you organize these key points, you need to create a business plan that outlines these points, including your business objectives and projections.
2. Consider Running A Telemarketing Company From Home
Since the telemarketing business is a relatively economical idea for a startup, you might think about managing it from home. It requires minimal setup costs, especially at the beginning.
If you think about it, you’ll probably only need a phone, Internet connection, computer, and headset when you first start, so you don’t have to look for an office.
Instead, if you have a quiet place at home, it might be an ideal starting point for your telemarketing business.
Moving from a clean home location to a part-time business location can be challenging, so to make it easier to do so, look at the following points:
- Find a quiet space – you need to be free of distractions and, importantly, have no background noise when calling.
- Evaluate your Internet connection – a good signal level is essential for any home business. It becomes even more common if you choose a VoIP or cloud-based phone system that relies solely on the Internet. It is a good idea to be as close to the modem as possible.
- Choose the right equipment – a phone system and headset will be necessary for your daily work. Also, a computer specifically designed for business use is needed to ensure IT and data security and to manage the work/life balance.
- Review your insurance requirements – protect your business and assets from damage and other potential threats with business content insurance and other coverage. Ensure that the policy and service provider you choose covers your home business.
- Check legal liability – businesses have several legal responsibilities that need to be met, and this often includes those that are fulfilled from home. For example, any garbage generated by your business activities must be disposed of as commercial waste.
What kind of equipment and facilities are required for a home telemarketing business?
Here are a few essential tools and equipment you’ll need to run your home telemarketing business:
- Phone system
- Desk and chair
- Commercial waste bin
- Quiet location
- Strong internet connection
- Insured contents
- Sufficient lighting
Some of the benefits of doing telemarketing business from home include:
- Flexibility – More opportunities for doing business part-time or as a side hustle that can be particularly useful when you’re just starting.
- Cost savings – Office space rental is a high cost for many startup companies, so by eliminating it, you immediately reduce your company’s overhead costs. It frees up much-needed money that can be redirected to where it’s needed most.
- Vast network – Since home businesses can be located anywhere, it creates opportunities to work remotely from anywhere in the world. Also, as your business grows and your team expands over time, you may consider creating a virtual team. It removes barriers to finding the best employees and customers to work in and with your company, as distance and location are factors that prevent you from finding the best employees and customers.
3. Research Costs And Equipment
While compared to some other startup ideas, establishing a telemarketing company has few initial costs, it is always necessary to investigate equipment and cost.
Consider what type of telephone system you will need. Whether you work from home or an office, one of the key costs of your business will be the telephone system.
Not only does it play a central role in telemarketing, but you also need a reliable system that can handle different volumes of calls.
While in the beginning, you may only need one phone, as your company grows and develops, you will need a system that can handle large volumes of calls.
While it is possible to use an actual connection to a telephone line (known as a fixed-line), an electronic private telephone exchange (PBX) is a more realistic option. It connects digitally and offers improved call quality and usability.
VoIP telephone systems – what you need to know:
- Uses the Internet to connect phone calls
- Phone calls are done and received as data
- Minimizes costs, as only the Internet is required to make calls
- Audio only or video call option
- For data storage in the cloud, a hosting platform is required.
Remember to choose a system that can be adapted to your business needs, both initially and in the future.
In addition to your telephone system, it also includes other equipment you need:
- Headsets – Since you will spend most of the day on the phone, you will need to be able to make and answer calls quickly and be able to type at the same time.
- Tables and chairs – an appropriate workstation, including a table and chair that can be changed to suit your ergonomic needs (optimized for comfort and well-being) are essential, especially if you are likely to sit for a long time.
The choice of a specific business telephone system is important when starting your own business. These devices have design features, and operational functions focused on business needs.
What other costs should be considered?
- Internet connection – since the signal strength of the phone will be central to your business, ensuring its reliability is crucial. Be sure to check the speeds required to maintain your selected system. Also consider your location to solve your connection problems and choose the best broadband provider you can find.
- Call scenario – the way you make calls will affect your business, both its reputation and its finances. Knowing how to connect and interact with potential customers is vital. Consider a training course that will teach you what you need to know or hire a specialist who will create a scenario for you.
4. Identify Potential Revenue Models
Once you have found your niche, determined your location, and assessed your potential costs, your next consideration is likely to be how to make your business a feasible source of income.
As a telemarketing business, there are many ways to make money. These include:
In this model, your company works to appoint meetings for sales teams to conduct product demonstrations and face-to-face meetings with potential customers.
Often companies use outsourcing companies to set up meetings to maximize the amount of time their sales or support teams have to meet with customers.
For example, traditional areas such as medical centers use outsourced call acceptance services that allows medical clients to save on hiring dedicated full-time staff to receive calls on-site.
With this option, your business is hired at the beginning of the sales process. It is to find customers who want to buy. It means finding potential customers and making contact with suppliers who can meet their purchase needs.
Whichever income model you choose, it is also useful to know the type of potential clients you will receive. This phrase is usually subdivided into “warm” or “cold” and simply tells you whether clients are interested in being contacted or not.
Usually, the contacts that set the parameters will be warm. If they are interested in getting a demo version of a product or an offer from a member of the sales team, they are likely to be interested in getting feedback on the period.
If the sales team does most of the presentation in person, your time spent on the phone is likely to be minimal.
Alternatively, the lead generation may cover a range of clients, all with different intentions and with varying chances of buying. Some of them may be cold, while others may be warm.
It can mean an unusual amount of time spent on the phone with the possibility of longer calls to explain the services, products, and processes.
Your telemarketing business benefits your customers in many ways, for example:
- Increase in sales – With more available time and customers ready to buy, the sales teams you work with have a better chance of making more deals.
- Broader customer base – Your company serves to create a more extensive network for your customers to get potential new business from.
5. Find Customers
As with any other business, telemarketing requires you to promote your company’s services. It is how you can connect to your potential customer base.
There are many ways to market and advertise your business, many of which are affordable. Examples include:
- Website– Regardless of whether you use a free website creator or decide to hire a professional designer, an online presence is non-negotiable. At a minimum, it must contain contact information about your business as well as an “about us” section.
- Blogs – As your business grows, consider adding a blog to position your business as a useful resource in your sector, or even a live chat feature to help secure additional sales.
- Social media– Share content, tweet, or favorite content to interact with your sector and help generate interest in your company. While there are many social media sites, you can focus on those that are most relevant to your business. Explore which social networks your competitors are using and make sure you are there to compete for the same customers. Social media is an affordable, inexpensive way to interact with your target audience instantly.
- Phone – Try contacting potential customers in a way that best represents your business. Telemarketing is a phone-based business, so you can contact them by phone and use this communication tool.
- Offer a trial – If your business model and cash flow allows, consider offering potential clients a trial period. The “try before you buy” system will enable you to show your clients what your business is capable of, and with a proven track record, others are more likely to buy the same. In the same way, the trial period works for your business. Initially, if you want to try out a large-scale contract or are unsure of the longevity of a potential client, a trial period gives you this opportunity.
- Word-of-mouth – Tell as many people as possible about your new business. It means you’re going to networking events, attend exhibitions, and improve your “elevator pitch” – you never know when you’ll find yourself in front of a potential client. As your network expands and business grows, make sure your industry knowledge is continuously updated and use your contacts. A classmate from a business seminar, even a critical contract manager you didn’t get are some of the people who could help you find your next big win.
To Sum Up
Professional telemarketing is a very effective way to generate sales and revenue opportunities. And it is an excellent area to start a new business because people who can call others and sell them products or services are always in demand in the market.
Therefore, good people who call are worth their weight in gold. However, they probably didn’t start with high achievement. They had to make their first call just like newcomers had to begin in any role. The same applies to telemarketing agencies or departments.
Thus, taking your telemarketing strategy seriously, developing it step by step, and taking into account the specifics of your industry will be an excellent start to success.
What Does Your Organisation Need To Get Started With A CMMS Solution
CMMS Solution A computerized maintenance management system (CMMS) helps the asset-intensive businesses digitally track, plan, optimize, and measure everything to…
Common Mishaps When Organizations Use Consumer File Hosting Services for Work
File Hosting Services This year’s situation with COVID-19 and subsequent lockdowns posed new challenges for businesses, as they were forced…