Most telemarketing campaigns focus on sales/leads as the key metric. This makes perfect sense, as without sales your campaign is going nowhere fast; however, there are multiple other measurements that can help you understand how healthy your campaign is. By focusing on these, you can improve your conversion rate over time.
Here are 7 measurements we use at Blue Telecoms to tell is exactly how a campaign is performing:
1. Return on Investment (ROI)
Try to maintain track of all the costs involved in each sale – even general overheads such as heating and agent time. Ideally, you should try to take this measurement every month to allow time to collect all the data required.
Once you have this data, you can make tweaks to your business model and where investment goes to get your overall ROI on track.
2. What’s happening within your CRM system
Your customer relationship management system is a great source of data to help you understand how successful your campaign is. One of the best metrics it can give you, is the conversion rate once a “hot lead” has been obtained. This can point you in the direction of your scripting, presentation and technique later on during the sales process. If you can make tweaks to this, it will have a direct effect on your ROI above.
3. Calls and human contacts
Monitoring the number of calls made and how many result in a human contact/lead is a great way to diagnose your data health. Many telemarketing centres focus purely on the sheer volume of calls, rather than how many actually result in a positive outcome. Once you have your data, tweaks can include outbound number rotation and even test new data suppliers to discover one that provides the results you need.
4. Decision makers
This is especially useful in B2B marketing, where it’s likely a small handful of people inside the business who can decide to use your service or not. By collecting data on who your agents are in touch with can provide a reliable method of discovering how many of your driven leads are genuinely useful.
As for possible tweaks, they’re all going to be made to the initial part of your agents call and/or any research carried out. Any improvements here will hopefully boost the number of valuable contacts, leading to a better conversion rate and ROI down the road.
By keeping a track of the appointments created, you can see how far you’re pushing leads into your customer journey. Set a target for this each month and try to match it even after any cancellations. Once you have a base value, you can work to improve this month on month – until you reach a plateau where you’re converting appointments inline with your ROI.
6. Time spent on each call
Most dialler systems, including ours at Blue Telecoms offer the ability to record ho long each call is. This is helpful, as it can be tied into the average length of a call that leads directly to an appointment or conversion. From here, you can keep a close check on the time spent by each agent before obtaining a conversion – directly relating to your ROI.
7. Voicemails and other non human answers
You might not have considered voicemails as helpful for sales metrics before, yet they’re extremely helpful when calculating your ROI. One of the benefits of the Blue Telecoms system, is that we offer intelligent answer machine detection. Here, if the dialler discovers an answer machine, it will attempt the same number the next day either 1 hour before or 1 hour after the original call time. The idea with this being that if your client leaves their home or office at the same time each time, making a tweak to the call time might help you catch that person when they’re back.
The KPI metrics listed above will all help you diagnose how your campaigns are running. By not simply focusing on sales, you can make minor improvements to every step of the sales process – ultimately resulting in higher conversions and ROI. These metrics can also warn you of issues early on, such as scripting and presentation problems.
If you’re interested in our advanced answer machine detection, or simply want to chat about how we can help you boost your telemarketing ROI, Get in Touch with our team today!