Sales Prospecting Perspectives

Should You Be Teleprospecting In The “Off Season”?

  

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Short Answer: Yes

Longer Answer: I talk to a lot of people that don’t “waste” their money running teleprospecting programs because their prospects aren’t buying until (insert absurdly small timeframe here). This is an extremely risky move. It’s like trying to pick someone up after ignoring them at a bar all night and then hitting on them after last call when they are getting into a cab with someone else. By that time someone has already bought the drinks, made the small talk and laid the ground work in order to get into that cab.

Can you imagine how many calls your decision makers get during the few months that constitute their buying season? You are at high risk of becoming white noise when you are one of one thousand calls that are coming into that voicemail on a weekly basis. The connect rate (the rate at which prospects pick up the phone and have a conversation with you) drops immensely during many budget seasons. It’s not uncommon to see your connect rate go from 12%-16% down to 5%. Your prospect simply has too many options to follow up with all of them. Less conversations equals less qualified leads which equals fewer wins for sales. I double checked the math on that, it’s legit.

The people that aren’t white noise are the ones that have been talking to the prospect off and on for the 9 months prior to their buying season. They know your name, they got the non religious affiliation holiday card you sent them, (MERRY WINTER TIME!!!) they know your pitch and you’ve invested the time to get to know their business needs. By the time evaluation and purchase season comes around they are much more likely to see you as a trusted partner and pick up the phone to talk to you.

From a sales standpoint, I find that opportunities that have been nurtured throughout the course of the year have a higher close rate and close better margins than opportunities that were found at the last minute. One potential reason is that there is less competition on these accounts. I hear a lot of, “well I am going to talk to 2 more companies, because it’s corporate policy” which roughly translates to, “I’m going to take a free lunch at the hibachi grill with another group because my boss is making me and then pick you.” On the other hand, when I’m getting someone in their buying season, they are likely starting off talking to 10 other companies and I find myself fighting for air time just to differentiate myself. If you do set yourself apart, you then get beat up on price because all those other competitors are making last minute bids to undercut you and supposedly provide the same solution for less money.

Ideally, you should be running teleprospecting campaigns year round. While the wins might not be there right away, the work you put in to build a funnel of warm prospects will more than make up for it when you’re hailing that cab at the end of the night.