One of the hallmarks of lead generation campaigns is their measurability. From start to finish, you can track progress at nearly every stage of an outbound calling project.
But, not all sales and marketing teams—or executive stakeholders—understand which metrics are valuable, or how they can influence the success or failure of your lead generation efforts.
Tracking the wrong numbers can waste valuable time and leave company leaders making decisions without the right information.
Even worse, many medtech and B2B businesses simply “wing it” when it comes to outbound calling, leaving it up to their marketing and sales teams to pursue calling when (or if) they see fit. Neither approach provides optimal results.
Outbound calling remains essential in B2B and healthcare sales
Outbound calling often gets a bad rap. Many organizations think that in the 21st century, there’s no longer a reason to even use the telephone as part of the lead generation and sales process. Others are skeptical of sales prospecting or cold calling campaigns compared to digital marketing or other channels.
At Volkart May, we not only believe in the power of one-to-one human conversation in the sales process, we demonstrate daily for our clients how it can generate qualified leads, book sales-ready appointments, nurture relationships and uncover important market insights. There’s absolutely a role for telephone calls in the medtech and B2B sales process.
3 must-track metrics for lead generation
At Volkart May, we make millions of calls each year on behalf of our valued clients. Every step of that process involves collecting data.
Here are three of the most important metrics we track during our projects.
How strong is your contact information?
Your prospect list is the foundation of your lead generation and sales efforts. The completeness and accuracy of your data will have a significant impact on your campaign results. But, outbound calling can also help you refresh and update the contact information you keep on your target audiences. When as much as one-quarter of all B2B data changes each year, list management is a critical exercise.
At Volkart May, we work with all types of contact lists, from purchased lists to in-house databases maintained by our clients. We know how to navigate phone trees, work through gatekeepers and advance our calls to the right individuals for your sales process.
We track list quality metrics such as disconnected phone numbers, companies that have moved or are no longer in business, unqualified companies and decision-maker names and titles. The stronger your list, the more time your business development team can spend engaged in sales conversations.
What’s required to connect with your target audience?
The second metric that matters in lead generation calling is your reach rate. Of all the potential buyers in your target audience, how many can you actually connect with for a live conversation?
Here, your team’s skill and diligence come into play. The more outbound call attempts you make, the more likely you are to reach your target decision-maker. However, studies show that most sales reps routinely give up after three or fewer attempts—when six or more are often needed to qualify and convert a lead.
Other factors can influence reach rates, such as level of decision-maker you’re trying to reach in the organization (think: vice president vs. supervisor), time of day for calls and how well known your brand is in the market.
Outsourcing your business development and lead generation to a professional call center like Volkart May is one way to improve your reach rates and make sure your sales pipeline stays filled with qualified leads and opportunities.
How many calls achieve your desired outcomes?
A great outbound calling effort needs to have a clear end goal for each and every call. That way, every element of your campaign, from how you introduce yourself to the questions you ask and the information you provide—leads to a desired outcome.
We count calls that achieve this objective as “conversions.” We measure the percentage of calls that advance from “reached” to “converted.” The greater your conversion rate, the more efficient and cost-effective your campaign.
Conversion rates will vary based on the objective of your calls. For example, collecting opt-in email addresses for mid-level engineers will likely have a much higher conversion rate compared to scheduling sales-ready appointments with senior executives at regional hospitals. What’s important is measuring your progress and using your time and budget wisely.
Use outbound calling metrics to improve your sales prospecting calls
Effective outbound calling doesn’t end with tracking the lead generation and business development metrics that matter. The next step to maximize results and ROI is diving into the factors behind your numbers and making tweaks to your approach that bring about improvement.
- Would adding more call attempts to each contact improve reach rates and conversions?
- Could changes to your value proposition and sales messaging create better outcomes?
- Would sending a marketing email before calling begins improve brand awareness?
- Could switching from appointments to lead qualification help advance more prospects through the sales pipeline?
It’s also smart to compare performance by market segments, such as geographic regions, industries or other specific groups. What works with outbound calling in one segment may not resonate as well in another. Small changes to your calling approach—based on real data and timely metrics—will help you make the right decisions and call with confidence.
Expert guidance to optimize your lead generation calling
Volkart May works collaboratively with every client to help you get the best possible results from your outbound calling campaign. Check out our proven process, then contact us to discuss your project needs.