Software products and services for enterprise business markets generally sport hefty price tags. We have excellent recent experience working with a client who has offerings in the market for governance, risk and compliance (GRC) solutions required by financial firms. The sweet spot price tag for implementing one of these systems, as crafted by our client, ranged from $100K to $150K and up. Businesses that understand the purchase realities for these solutions will need at least a year, and perhaps longer, to actually place an order. The fact is that a six figure price tag is a price tag that must be carefully scrutinized by management prior to an approval.
The impact on sales development planning for businesses with similar offerings is to assume that current activities will generally not pay off sooner than a year out and, in many cases, even longer. Orders received today for comparably priced products and services have been in development over the last year. The rare occasion where what seems to be an order that just came out of nowhere is, typically, an opportunity to capture an order as the direct result of the failure of a designated competitor to deliver. Never lose sight of the fact that the purchasing window can be as wide as a year or longer from initial contact to order where costs to the purchaser are in excess of $100K.
Accordingly, telemarketing efforts should be entirely focused on identifying needs, decision-makers, purchasing plans, etc. The information gathered through telemarketing calls should be added, entirely, to a CRM that should be analyzed on a regular basis and sifted for actionable intelligence. By no means should telemarketing be restricted from placing so-called “cold call”; rather, methods should be identified to actually increase opportunities to reach new prospects through telemarketing. Some useful methods include gathering industry opinions through surveys, engaging with industry participants on known topics of interest, conference themes, etc. Keep in mind that next year’s buyers may very well emerge from the contacts unearthed through today’s telemarketing efforts. Therefore, maintaining an ongoing telemarketing effort, as we have noted throughout this blog, must be a key piece of the sales and market development plan for the business.
Winning at a numbers game is also important. In other words, the daily volume of telemarketing contacts should be maintained at a healthy level of anywhere between 15 and 20 conversations per telemarketer per day. In our experience a call list of 70 to 100 calls will be required, at a minimum to produce our healthy level of contacts per telemarketer.
We have extensive current experience in this area. Please call Ira Michael Blonder at +1 631-673-2929 to further a discussion. You may also email Mike at firstname.lastname@example.org. We will be happy to show you why you should be thinking about the Internet and Social Media to engage with your marketplace.
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