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‘I'sn't it just spammy cold calls?', ‘Is it a relic of the ’90s?' , 'Does it even work anymore?’.....
These are a few of the questions that may come to mind based on perceptions of B2B telemarketing today. So, does B2B telemarketing still work in 2024?
The answer to this is yes! B2B telemarketing is still alive and going strong!
B2B Telemarketing has evolved significantly beyond mere 'cold calling' of days gone by. In 2024, it remains a powerful tool, delivering substantial results through sophisticated strategies and targeted outreach. Far from being obsolete, modern B2B telemarketing leverages data-driven approaches and personalised communication, in order to engage prospects effectively and drive business growth.
The proof is in the pudding...
According to research by RAIN Group, '82% of buyers say they have accepted meetings with salespeople after a series of contacts beginning with sales cold calls.'
The DMA Group found that, 'For every £1 spent on B2B telemarketing, companies experienced an £11 ROI. '92% of businesses surveyed found telemarketing to be an effective channel.'
A GCL campaign for Pitney Bowes achieved an additional £75 million in the sales pipeline as a result of cold-call telemarketing and lead nurture efforts.
Telemarketing is a more powerful tool now than it was 3 decades ago!
Over time, telemarketing has changed and been refined to become a more personalised and useful tool. GDPR (General Data Protection Regulation) has ensured that there is credibility and full transparency for genuine telemarketers. This ensures that scam artists & spammers are removed from the equation, allowing for more efficient engagement efforts
Telemarketing is also one of the only marketing strategies that uses direct engagement and two-way communication with prospects. This can allow for quicker communication progression and better insight into the prospect’s pain points, desires and goals.
What is Telemarketing?
Telemarketing takes an emotionally intelligent, unscripted approach, to nurture a real connection with prospects. According to a Close.com statistic, ‘93% of the potential success of your cold call is attributed to the tone of your voice during the conversation'
B2B Telemarketing covers various business needs, including:
- • Lead generation & appointment setting
- • Channel development
- • Lead nurture services (MQL to SQL)
- • Account-based marketing
- • Awareness raising
- • Primary research
- • Inbound call handling
- • Global multilingual outreach
- • Event & webinar support
How Would Telemarketing Benefit My Company?
B2B Telemarketing has the potential to bring immense value to many companies by:
1. Reaching decision-makers faster
According too RAIN Group, 57% of C-level executives prefer being cold-called by phone, compared to 51% of directors and 47% of managers.’ (2020)
There's no better way of reaching important decision makers than through direct touch. A well-trained telemarketer will use the right, unscripted approach that is personalised to the buyer’s needs, in order to establish a genuine connection, gain trust and reach solutions quicker.
2. Obtaining precise market research data
You're looking for the 'right' prospects, those with a higher likelihood of conversion. However, you can only reach these ideal prospects when you have the right data to connect you to them and truly understand their needs. Without this, you risk wasting valuable time and resources.
Firstly, you need to understand what drives your prospects, what challenges they face, and what their ultimate goals are. Through personalised market research, conducted through human interaction, you can obtain critical insights that prospects might not share through other channels.
3. Higher lead generation & conversion rate
According too RAIN Group, '71% of buyers want to speak to sellers during the early stages of the buying process'.
Once the right data is gathered and the prospect’s profile is understood through preliminary market research, telemarketers dial out to these prospects, fully prepared to convert qualified leads into sales-ready opportunities. By building and nurturing relationships, and employing effective strategies, they can seamlessly guide these prospects to the appropriate sales teams for closing the deal.
Is Telemarketing For Me?
Telemarketing is not for everyone… There are a number of factors to consider to determine if it’s the right fit for your business. As a general rule, if you are selling low-value high-volume products or services (transactional selling), then telemarketing is less likely to be a cost-effective strategy and you may be served better using email and digital marketing strategies.
However, if you’re selling a high-value product or solution into the B2B market, then there is a very strong likelihood that B2B telemarketing will work wonders for you!
Some other factors to consider are the size of the TAM (total addressable market) and your typical sales cycle.
Where is Telemarketing Headed?
The digital age has taken over and will continue to dominate industries going forward. Therefore, a blended marketing approach is key to maximising campaign results; a combination of traditional & digital methods, such as email marketing, PPC, artificial intelligence and much more.
However, as much as automation and AI is driving forward businesses, ultimately people buy from people. The human touch is a timeless advantage that will never disappear amongst the digital noise.
Other Frequently Asked Questions:
1. Do people still answer the telephone?
In short, YES! However, it’s not as straightforward as one call equals a successful outcome.The reality is, like any marketing activity, you get out what you put in. Unlike B2C telemarketing, the B2B approach is to contact qualified prospects who are much more likely to pick up the call and be interested in what you have to offer. Additionally, there are tools such as Cognism and Lusha that enable mobile & direct dial numbers to be appended to contacts, which hugely helps boost conversion rates.
Best practice shows that an effective call strategy involves 5-8 touch points throughout a set time period.
'93% of converted leads are often reached only by the 6th cold call attempt.’ (Velocify)
2. Does telemarketing work in my sector?
Telemarketing is not sector-limited and would work in any sector that requires market research, data services, lead generation and nurturing. According to data at GCL, telemarketing is most popular with some of the industry sectors below:- • Business & Professional Services
• Financial Services & Insurance
• Manufacturing & Engineering
• Wholesale & Distribution
• Logistics & Supply Chains
• Tech & IT Consultancy
• Public sector
• Retail
If you would like to learn more about telemarketing in the digital age and how it could help you, please dive into our guide below!
