5 Metrics to Measure Success in Outbound TeleMarketing
It doesn’t seem right to just throw telemarketing strategies around the corner without having the means to measure its effectiveness. It would also be downright unconventional without having a clearly defined objective for your telemarketing campaign. On the other hand, objectives must be SMART. This would mean those objectives are specific, measurable, attainable, realistic, and time-bound. Thus, here are quick ways to measure success in outbound telemarketing.
Lead Conversion Rate: This is the number of leads that have been converted into opportunities. Moreover, this is also the percentage of leads that subsequently become customers. This number is important because it can gauge the success of market segments targeted for new campaigns. Moreover, this offers insights into where you should invest more telemarketing spend compared to where you should hold off.
Call to Close Ratio: This, on the other hand, is the number of leads that have been converted into sales. This can be calculated by measuring the number of calls made compared to the number of deals closed. This number is crucial and is vitally relevant in showing the effectiveness of your campaign. This is an important indicator of whether your medium matches your lead generation strategy.
Email Clickthrough Rate: This is the ratio of users who click on a specific link in an email to the actual number of users who viewed the page. This is calculated by dividing click through by tracked messages delivered. This is also an important indicator to decipher whether or not your message matches your lead generation study.
Cost per Opportunity: Of course, this would assess your lead generation strategy and if it gains back ROI and is producing a sale. The modern technique focuses on evaluating lead quality after determining the cost per opportunity. This metric is ideal for an outbound strategy to have a small volume of high-quality leads.
Time to Close: The important concept regarding ‘time to close’ is that outbound leads MUST close faster compared to inbound leads. If not, then the acquisition criteria need to be re-evaluated.
These metrics are important and can greatly help evaluate and sculpt a lead generation campaign. This is relevant to improve the following campaigns and boosts its ability to generate leads and make a sale.
Supplemental source: https://foundersgrid.com/outbound-sales/