B2B telemarketing is still an important marketing strategy in 2023. The industry has evolved and the opportunities for businesses to secure leads and develop relationships with clients. Cold calling might seem like an outdated approach, but according to sources, 82% of buyers have booked meetings with salespeople after a series of cold calls. People working in B2B are seeking networks and tend to be more open to new connections. Of the companies that do invest in a telemarketing strategy find that their ROI is about 1:11. That makes it a very cost-effective marketing tool. More than just funnelling great leads, a telemarketing company that is trained to work closely with your brand strategy, can nurture those leads and prep for your closers.
That is because telemarketing is no longer the cold and impersonal pitch it once was. Telemarketing agencies often specialize in certain industries. They train their teams to manage a certain number of projects, understanding scripts, brand values, and campaign goals. It is also possible to hire a team that is dedicated to your company. Outsourcing can be onshore or offshore and has the benefit of offering multiple languages for communications. The industry has truly transformed.
An important part of this transformation is the introduction of privacy protections. While such protections are aimed at private individuals, it is also beneficial to B2B interactions. Privacy regulations have helped establish credibility and transparency for telemarketers. Outsourcing the start of your sales funnel is a common practice in B2B, so the people you are contacting are not averse to accepting cold calls from agencies. Direct engagement with potential clients is highly valued in business, and two-way conversation encourages fast progression through pain points and further down the sales funnel. Telemarketing has an estimated cold call conversion rate of about 6.3%.
Surveys of businesses show that ‘93% of the potential success of a cold call is attributed to the tone of voice during the conversation.’ That includes understanding the cultural expectations of the region you are operating in. People in the US want cheerful and banal interaction before discussing business, while people in the UK want a more direct approach with very polite conversation that is engaging and business-focused within the first few seconds of the conversation. Other markets that are not English-speaking will have unique engagement protocols, such as China or Japan, where calls need to follow a very professional and structured business format with a specific language.
B2B telemarketing services can manage many aspects of your strategy, including;
- Lead generation
- Lead nurturing
- Awareness raising
- Appointment setting
- Channel development
- Account-based marketing
- Primary research
- Global multilingual outreach
- Inbound call handling
These services can be added to a telemarketing project to increase your potential, ease pressure on your sales teams, and expand the reach of your brand. Outsourcing the beginning of your sales funnel can be daunting, however, carefully researching the outsourcing providers available to you can lead to you discovering opportunities you weren’t aware of previously. Some of those benefits include:
- Connecting with decision-makers faster – Sources say that 57% of C-level executives prefer phone conversations, compared with 51% of directors and 47% of managers.
- Precise market research data – Telemarketers reach out to your selected prospects with the right information and data to encourage lead generation.
- Higher lead generation and conversion rates – Buyers want to connect and build relationships with brands, and the personal connection that phone calls offer is a motivating factor in conversions. Because most B2B deals take about 12 months to complete, outsourcing your opening is an efficient way to establish a qualification before investing your core salespeople in relationship building.
Telemarketing is not right for all businesses and industries. If your business is transactional selling (low-value, high-volume products or services), telemarketing is not usually beneficial. Email marketing and digital marketing tend to produce the best results for these markets.
However, telemarketing works well for high-value products or solutions for the B2B market. This is generally because of the slower sales cycle and the need to establish long-lasting brand relationships. Your customers need time to get to know your company, connect with your values, and understand why your product is unique and the solution they require.
Telemarketing is popular in industries such as:
- Tech and IT consultancy
- Financial Services
- Business and professional services
- Wholesale and distribution
- Logistics and supply chain
- Manufacturing and engineering