Outbound sales campaigns typically yield a very low conversion rate and a high cost of acquisition. Many companies create and present new offers that promise to be more attractive to those potential or existing clients in order to improve conversion and gain a larger customer base. Unfortunately, this approach often results in marginally better conversion, and an even higher cost of acquisition, which puts a big dent on the bottom line. It is a vicious cycle!
Outbound campaigns are hard. Period. Once you have the right party contact on the phone, the challenge is to create and maintain engagement throughout the sales presentation. Even when your sales agents follow an interactive and consultative methodology, only 20% of the customers become engaged enough to stay on the phone to listen to the entire sales presentation. So what is the problem? Is your sales presentation so broad that it fails to engage your different customer segments? Possibly!
Not all customers are created equal and neither should your sales presentations. You can significantly improve your campaigns performance by taking advantage of advanced customer analytics to unravel behaviors, product and service utilization, preferences and needs that should be addressed during the sales presentation. Combining this with traditional segmentation based on basic demographic and propensity information, you can create customer-centric outbound campaigns that target and engage the main segments in your customer base.
Engagement is the name of the game. Customer-centric campaigns help you provide a higher degree of relevance to every customer, which will certainly translate into a higher degree of engagement. After launching a number of customer-centric outbound campaigns, the total customer base that remained engaged throughout the presentation increased from the original 20% to over 27% on average. Although the conversion rate was maintained, the total campaign conversion increased by 30%, which resulted in higher sales revenues, and a lower cost of acquisition.
Here is what you need to create and deliver a successful customer-centric outbound campaign:
Recognizing Different Customer Segments
Combine advanced customer analytics with traditional demographics to segment your customer base. Understanding your customers is key in providing the right message with the highest degree of relevance for each customer.
Understanding Customer Needs
Engagement is the name of the game. Generate engagement by matching the features and benefits your products and services offer with the specific customer segment’s needs. Remember, relevance yields engagement.
Providing the Best Customer Experience
Sales is a service! Make sure that your sales methodology is interactive and allows for a two-way communication with the customer. Always deliver a friendly, positive, and seamless customer experience. Empower your agents to have conversations that drive engagement.
Download our case study to learn how we helped a leading Telecommunications company implement a customer-centric outbound campaign that improved sales conversion by as much as 26% while reducing the cost of new customer acquisition.