If you are looking for ways to increase revenues for your business, one of the things you can do is outbound sales marketing. Inbound sales marketing is the more popular approach nowadays for many organizations, but outbound marketing has advantages that inbound sales marketing does not have.
In this post, know about outbound sales strategy and tools and use them to kick off your outbound marketing.
What Are Outbound Sales?
The outbound sales process is a seller-initiated process, where the seller creates a line of communication between him and a target client. Intending to make sales, the seller strategically creates a need in the client. That is a need for the products he is selling.
Now, that is different from the inbound sales marketing that most companies are doing nowadays. In this type, the seller does not initiate communication. It is the customer who does it.
There are advantages when using outbound sales marketing to spike your revenue. Lead generation is highly targeted when it comes to outbound sales, and, with it, you can easily capture that part of your market with high intent to buy.
The customer approaches a company he believes can provide what he is looking for. That is when the inbound sales process starts.
So, with the outbound sales concept, you start engagement from your end, usually via a cold call. With cold calling, one would usually get contact numbers from a lead list or a phone directory.
Statistics show that more than 50% of people do not know what they actually need. That is where outbound sales marketing comes in. With this strategy, you will look for the pain points of your target audience and help them find solutions to those.
Importance of Outbound Sales
Outbound sales can benefit your business. First, you can control communication between you and your prospects. As the initiator of communication, you can decide the right time to initiate contact or make a follow-up.
Second, the decision of who to communicate to is all yours. You can segment your listing and pick only those who you think are the best leads to target. That means you will never waste time and money on prospects that are not good leads.
Next is the analytics part of outbound sales marketing. Outbound sales activities can give you quick data on campaign performance. There are tools you can use to gauge outbound marketing performance.
Lastly, it helps you measure in advance the revenue your outbound campaigns will generate. There are many tools you can use to predict whether a prospect will eventually convert or not. Together with revenue projection, it will also help you set realistic goals for your outbound team.
The Advantages of Outbound Sales over Inbound
Advantages your organization can benefit from outbound sales campaigns include:
- Effective lead generation – A rigid segmentation process, inherent in outbound sales, leads to higher conversion.
- Quick testing – The outbound sales team is checked in real-time, while their team leaders monitor their performance regularly. Providing feedback leads to better performance.
- Direct customer contact – Compared to inbound marketing, outbound marketing allows closer interaction between agents and customers. Such an approach is a more personalized approach.
- Segmentation allows for mass targeting – You can segment your market based on preferences and mass target every segment using the same email for all. You can do the same for other segmentation fields.
- Negative chain reactions are rare – Cold calling and cold emailing allow you to take advantage of this. Since negative reactions cannot be seen by other customers, chain reactions do not occur often.
How to Build an Efficient Outbound Sales System
Here are your steps to take to build the system:
- Segment your market – Segment your market based on what they want and the amount they are willing to pay.
- Segment market based on value-based hypotheses – Target segments of your market so you can design and deliver relevant services or products.
- Generate customer data – Know your customers well. If you can gather data on behavior, demographics, psychographics, and attitude, it will help you to target your customers at the right time, at the right place, and with the right message.
Group your customers into ICPs (Ideal Customer Profile), followed by an evaluation of the feasibility of each segment. Afterward, you find leads from each of your micro-segments.
Outbound Sales Tools and Software
Outbound sales tools necessary to ensure success for your projects include:
- A good CRM – A one-stop database to store customer data.
- Sales intelligence tool – For understanding how your current campaigns are shaping up.
- Sales communication tool – Helps to connect with your audience effectively regardless of the mode of communication.
Outbound sales tools help your team the most out of their time. While you can do outbound sales using spreadsheets, having the correct software can help you do tasks efficiently and quickly.
Common Outbound Sales Techniques
Outbound sales marketing techniques you can use include:
- Cold calling – You make unsolicited calls on your target client to sell goods or services. You can do this either in person or by phone.
- Cold emailing – Cold emailing is the email equivalent of cold calling. Cold emails are unsolicited emails sent to people without prior contact.
- Email automation - This outbound sales strategy allows you to send personalized messages to customers based on their recent actions.
In outbound sales marketing, there are common objections that the person at the other end would raise. Be ready for those and try to be respectful at all times. When cold calling, keep a natural tone and pacing and stay on track and in control.
Outbound Sales Strategies to Increase Revenue
Follow these steps to increase revenue:
- Set targeting criteria – When you create your ICP, be detailed as possible. Which audience is your product or service most suited to? How do users use your product? Note down their path-to-purchase. Can you replicate that?
- Make referral sales – In B2B outbound sales, one strategy is to ask your existing customers to refer your product to other companies.
- Automate outbound sales marketing – With automated marketing, you can focus your resources on high-profile leads and increase sales and revenue.
- Use omnichannel, multi-touch techniques – Integrating various channels for effective interaction with your customers can help you create a consistent brand experience.
- Use calling scripts – A calling script is a carefully designed document that guides cold-calling marketers as they interact with leads. The use of such a document helps in avoiding errors during the interaction. This document also provides your team with ready answers, making it easy for them to guide customers on what to do accurately and efficiently.
- Connect with potential customers through social media – Do not think that it sounds impersonal when connecting with your potential customers through social media. Maintaining connections and keeping yourself connected with these people is one way to make it sound more personal. Creating a Facebook community is another strategy.
- Build outreach plans – Outline the things that your team should cover in every connection that they make. Make an agendum for every call. For instance, you can ask a customer to mention any points they want to include in the deal. You do not always have to do the talking.
There are advantages to using outbound sales marketing to spike your revenue. Lead generation is highly targeted when it comes to outbound sales, and, with it, you can easily capture that part of your market with high intent to buy.
It may take you a while to produce a final list of people to target, as segmentation and customer profiling takes time. The upside to that is that you will not waste resources on unprofitable leads.
Try a 50-50 mix of outbound and inbound marketing. One helps generate traffic to your business but produces low-quality leads and gobbles up lots of your resources.
The other one is a less expensive approach and produces high-quality leads, but is time-consuming and quite unpopular these days.