B2B sales appointment setting and lead generation are such critical part of any businesses’ sales funnel. Appointments and B2B leads are the fuel to a healthy sales engine, after all. Yet so many sales organizations are with challenged with the task of filling their sales funnel with more opportunities.
“Only 25% of leads are legitimate and should advance to sales.”
Source: Gleanster Research
“More than two thirds (68%) of companies report struggling with lead generation.”
Source: Lattice Engines
‘Companies that excel at lead nurturing generate 50% more sales ready leads at 33% lower cost.”
Source: Forrester Research
“57% of B2B organizations identify ‘converting qualified leads into paying customers’ as a top funnel priority.”
Some sales research suggests that 75% of business calls end in voicemail. There’s widespread debate on whether it’s even beneficial to leave voicemail at all in B2B sales. We’ll save that debate for another day and focus on tips that might help you if you DO decide to leave voicemails in the course of B2B sales prospecting.
There are several B2B appointment setting metrics that carry weight. Really, you can dice up the numbers any way you like, but the idea in sales data analysis is to identify problem areas and success areas. Not only that, these data points must be used to fix the problems and expand on those successes.
There’s a “Magic Formula” which encompasses the most basic B2B appointment setting metrics.
- Touches/Dials – The number of times an agent touched a contact record. There’s some flexibility in defining this number
- Conversations – The number of hard connects with targets. This is live conversation with the prospect on the telephone.
- Appointments – This is the end goal of a lead generation team. All previous efforts have combined to produce this result.
Once you have a large enough sample (we recommend 2500 touches or more), get acquainted with this ratio and how it fluctuates. The formula will be different for all types of industries. You can even compartmentalize the formula to find out how well your inside sales team performs in certain industries, geographies, etc.