Strategic outbound sales prospecting activities have a direct association with growing revenue and profit. Indeed, firms that successfully adopt intelligent outbound sales activities are significantly more likely to exceed their goals than to fall short of them.
Significance of outbound sales strategies
Outbound sales strategies are simply too important to ignore. Over a decade ago, many marketing experts projected that outbound marketing would become obsolete due to the growing preference for inbound sales and the advent of growth marketing. However, predictions about outbound sales strategies’ eventual collapse are entirely wrong.
Outbound sales prospecting continues to be critical to many businesses’ success, particularly those selling to the industrial markets. In addition, outbound operations still create a more significant share of generated leads.
Regardless of how much data exists to support this assertion, industrial sales managers continue to endure criticism from stakeholders who believe B2B sales prospecting strategies just do not work for their company.
We are natural-born salespeople! Outbound sales play is our natural instinct. We all have to keep lead prospecting to reach the enormous opportunities that this time-tested sales approach can generate. Here are some outbound sales suggestions that may help you boost your revenue performance.
What is outbound sales prospecting?
Outbound sales prospecting represents the traditional approach to B2B sales, in which salespeople start and drive customer connections. B2B salespeople actively seek out potential buyers in outbound sales prospecting and then contact them via phone calls and emails. Next, they deliberately guide customers toward a purchase decision through a series of follow-ups, demos, discussions, and closure attempts.
Warm leads / Cold leads
Inbound sales, on the other hand, heavily relies on marketing to execute various campaigns. These campaigns are content marketing and search engine optimization, online forms, sending a direct message on social media, or sending an email inquiry. Unlike “cold” leads generated by outbound sales, these “warm” leads have previously expressed an interest in the company’s product or service.
As a result, they are actively seeking additional information or guidance to assist them in making a final choice on whether to purchase or not.
Outbound sales vs inbound sales
Outbound sales is a selling model in which the salesperson initiates the sales interaction. On the other hand, inbound sales refer to a paradigm in which prospective customers contact a sales professional after their interests are stimulated by the information they obtain through websites, news sources, or advertisements.
Prospecting for new customers is done by conventional ways of corporate selling: cold calling, email campaigns, and following up.
On the other hand, inbound sales make use of methods enabled by advancements in digital technology such as search engine optimization (SEO), content marketing, white papers, industry portals, online advertisements, social media, and technical blog posts.
Both inbound and outbound sales representatives must be influential and act as issue solvers when interacting with prospects. However, the idea that modern salespeople should act more like closest allies originated in inbound sales and has grown in popularity.
Finally, inbound sales prospects are regarded as “warm,” and outbound sales prospects are described as “cold.” The descriptions indicate the apparent level of interest displayed by the prospective buyer.
Outbound strategy in B2B sales process
Outbound sales prospecting takes place when a salesperson chooses target industrial companies, conducts research, and engages the procurement team members (decision makers, purchasers, technical experts and users) using a combination of email, phone, social media, or in-person visits.
First step of the sales cycle
The sales representative then follows up appropriately to ascertain qualification and schedule an initial meeting or move them to the next level, as the case may be. Thus, prospecting and creating pipelines can be considered the prelude to or the first step in the sales cycle. In either case, prospecting is not a one-step operation; it is a self-contained cycle.
Lead qualification is the most important part of outbound sales prospecting. Qualification standards will differ for every company. The qualification aims to evaluate a prospective customer against target buyer characteristics to establish if both organizations are a good fit for collaboration.
A great sales strategy is built on a solid foundation of lead qualification. For example, suppose sales teams contact organizations or prospects who do not meet their target buyer criteria. In that case, they are effectively spending time and corporate money on non-revenue-generating activities.
Qualification handled ineffectively is a primary reason sales teams and reps fail. Unqualified leads clog the sales engine, slowing pipelines and squandering the capabilities of otherwise excellent salespeople.
Advantages of outbound sales prospecting
There are four primary reasons why B2B sales businesses should use outbound sales techniques.
- Sales prospecting enables you to tap into previously unavailable revenue.
- It is deterministic and scalable.
- The effectiveness of a campaign can be maximized by striking a balance between automation and personalization.
- Prospecting activities can eventually convert high-quality prospects to leads.
Outbound and inbound sales are not rivals
Before we dissect each and continue to underline the importance of outbound, let us be crystal clear. Outbound and inbound sales should not be viewed as competing or opposite techniques. Unfortunately, all too frequently, the sales and marketing groups become embroiled in divisive disputes and discussions about the relative advantages of each.
Inbound marketing is crucial for establishing brand recognition, creating buyer journeys, and providing prospects with the information to analyze products and make purchases. Without inbound sales approaches, we would not offer high-performing websites, quality content, or specialized expertise.
Outbound sales prospecting is a sales rep’s endeavour to generate leads using a combination of email, phone calls, social selling, and in-person visits. Without focused B2B prospecting strategies, we would have limited control over account prioritization and engagement, two crucial growth factors.
To thrive, high-performing firms recognize that inbound and outbound processes must work in tandem to optimize organizational efficiency.
How can you boost outbound sales performance?
Outbound sales prospecting is a complex subject that requires a razor-sharp approach based on real-world facts from the sales floor. This approach encompasses all facets of the organization, from the people capital that fuels it to the sophisticated tools that boost their capabilities to the changing customer behaviour. Additionally, a dependable system for monitoring success should be in place to ensure that sales performance and efficiencies are constantly improved.
Three strategies can be used to boost outbound sales performance
1) Expand operations through hiring additional salespeople and expanding target markets
2) Optimize processes and increase efficiencies of your sales prospecting tools
3) Implement advanced technologies such as CRM (customer relationship management) software.
Solid business growth requires a stable outbound sales prospecting strategy, a skilled (and trainable) sales team, adequate digital tools, and a trustworthy monitoring system. Once these foundational elements are completed, you can safely implement growth-oriented methods.
Outbound sales prospecting is ultimately about ensuring that your outreach is competent and that you quickly provide value to the prospect. To elicit a stronger response that results in more high-quality sales chances for your sales force, employ timely, value-based approach to establish an individual and interpersonal connection with your prospect.