Metrics, Metrics and More Metrics!

Metrics, Metrics and More Metrics!

In order to run a successful teleprospecting campaign, there are many metrics that must be understood, monitored and managed.  However, most marketing managers are primarily concerned with only 2-3 key metrics – usually centered on volume and revenue, such as Lead per Day (LPD) and Return on Investment (ROI).

To ensure favorable volume & revenue metrics, there is a plethora of statistics, figures and data which must be monitored, managed and acted upon each and every day. As a tele vendor, here is just taste of the metrics we track daily in order to conduct a successful outbound teleprospecting initiative:

  • Dials/Touches – our lead development representatives (LDRs) are tasked with achieving a minimum of 120 to 150 dials per day (range dependent on type of tele campaign). This metric is the first and most basic to obtaining success.
  • Touch Count – refers to the number of times an individual record (person) has been attempted. In most cases, we want a database (or list) penetrated at a relatively even rate unless there’s an identified “sweet spot” that warrants special attention. Monitoring the average touch count necessary for a decision-maker conversation to take place, as well as a marketing qualified lead to be uncovered, can allow us to anticipate success ratings and the effort required for a positive conversion.
  • Completed Interviews Per Day (CPD) – this metric is very important to the success of the campaign.  If the LDRs are not having enough completed conversations with contacts involved in decision making, we generally cannot have a successful campaign. Keeping a close eye on CPD and taking appropriate steps to positively impact it from start to finish is crucial.
  • Data Usability – If the CPD is lower than our target, a close look at data usability is one of the first steps. For instance, are there higher than average left company contacts, bad phone numbers, non-decision making sites, or out of target accounts? Analyzing what is contributing to unusable records will allow a plan for improvement.
  • Call Outcome Time Management – how long is an LDR spending on each phone call? That depends on the outcome of their call. There are a variety of types of outcome categories, and each has its own acceptable time range. For example, the time required to leave a voicemail is much less than the time required for a conversation with a decision maker. Monitoring each outcome category helps to ensure efficiency and allows our management team to assist LDRs with making the most out of their day.
  • Lead Per Day (LPD) – Because qualified leads are the ‘product’ of a lead generation teleprospecting campaign, they are the most crucial to monitor and maintain. LPD statistics may vary by source or target market/title, thus analyzing results by key factors will help to capitalize on success and increase LPD.
  • LDR Quality – Although slightly harder to measure, quality of work is critical to positive ROI – thus it must be measured, monitored and acted upon. We measure quality a number of ways, including live monitoring, call calibrations and recorded call audits. LDRs receive evaluations/scores each time their calls are listened to by our management and quality team. Furthermore, all qualified leads are reviewed by a quality assurance specialist and any “downgrades” are documented, thus creating a lead quality rating for our LDRs. Effective coaching and recognition/rewards help to drive the right quality behaviors.

Beyond the calling and daily LDR metrics, there are many other metrics that drive revenue success, including appointment rates, sales acceptance, opportunity conversion, pipeline leakage, etc.

Whew! Are you feeling exhausted just reading about all of the necessary metrics that must be monitored and managed in order to achieve success? I haven’t even delved into things like SLAs, turn-around-time (TAT), touch governance, DNC maintenance, referral rates…and the list goes on and on!

If you’re contemplating in-house vs. outsource options, daily metric & results management should be taken into consideration. By partnering with a quality tele partner like TeleNet, you will be able to confidently offload the nitty-gritty critical details, and focus your attention on the most strategic aspects of your initiatives.