Metrics from the first quarter of 2021 reveal exciting increases in market demand. B2B teleprospecting results are stronger now than before the pandemic. TeleNet examined key performance indicators across eighteen B2B clients targeting mid-to-high level information technology (IT) and line of business (LOB) contacts to create high-quality BANT leads. Remarkably, every metric surpassed 2019 statistics, pointing to an uptick in market needs, as well as reinforcing the effectiveness of teleprospecting to reach and engage with IT and LOB decision-makers.
If your organization is not yet benefiting from market gains, you may need to reexamine your prospecting mix. Detailed below are the trends we’re seeing so far this year.
MQLs on the Rise
Starting with one of our most notable metrics, the average number of marketing qualified leads (MQLs) per day, per lead development representative (LDR), has increased by 7.5% in Q1 2021 compared to 2019, before the pandemic.
The boost in MQLs per day can be attributed to two factors. First, our lead development representatives (LDRs) are engaging with decision-makers more frequently, increasing their daily conversations in Q1 2021 by 12.9% over 2020 and nearly 5% over pre-pandemic 2019 figures. Secondly, a higher percentage of those conversations result in a BANT qualified lead, which points to an increase in market needs. The conversation-to-MQL rate is 2.9% higher in 2021 compared to 2019. Simply stated, our tele-prospectors are speaking with more decision-makers, and a higher percentage of those decision-makers are actively evaluating or planning an evaluation. That’s a great combination to drive a more robust sales pipeline!
Increasing Teleprospecting Return
For organizations utilizing dedicated teleprospectors, whether internal or outsourced, this is particularly good news, as your return on investment will be greater. So far in 2021, it is requiring twenty-eight fewer touches (dials) to uncover a sales-ready MQL in comparison to 2020, and nineteen fewer touches in comparison to 2019 data. Thus, a tele-prospector making a relatively consistent quantity of touches each day will generate greater output this year, leading to a more robust sales funnel and greater return on investment.
Furthermore, the average “talk-time” in 2021 has increased by 9.1% over pre-pandemic 2019 figures. Talk-time refers to the minutes per day in which an LDR is engaged in conversations with decision-makers and speaking with influencers and administrators to gain additional insight, data, and referrals. Seeing a rise in talk-time, as well as an increase in conversations and MQLs, further signals that business contacts are becoming easier to reach via phone, and are more willing to engage in phone conversations to discuss their needs and upcoming evaluation and purchase plans. This is a strong indicator of the uptick in market needs.
Effectiveness of the Phone
A recent webinar hosted by Revenue Collective entitled, Recognizing and Overcoming Call Reluctance in Your Sales Organization provided additional viewpoints as to why the phone is so effective. Michael Basso, vice president of global inside sales at KORE, shared his opinion stating “email and inboxes are currently flooded, so it’s never been a better time to cold-call.” Furthermore, he refers to email and social selling tactics as “arm’s length” prospecting, whereas the telephone facilitates human engagement. While both digital and tele are important to obtaining a balanced prospecting mix, Basso credits 95% of success from outbound calling.
B2B teleprospecting metrics from the first quarter of 2021 are signaling exciting improvements in the market and an uptick in needs. For those marketers who have shied away from teleprospecting in fear that remote-working environments make it more challenging to reach and engage with decision-makers, our 2021 statistics show there’s no reason for concern. Metrics are better now than before the pandemic. If your organization is not yet benefiting from market gains, you may need to reexamine your prospecting mix. When it comes to connecting one-on-one with your market, there’s no better medium than the phone and no better time than now!
Want to learn more about TeleNet’s teleprospecting services and how we can help you capture market demand? Contact us today to schedule a discovery session with one of our account executives.
Take advantage of these promising trends by evaluating a teleservices partner to grow your reach!