Tuesday, September 23, 2008

How a power dialer can increase your sales

Automated dialers are a very great way to improve sales. Generally speaking, it is a numbers game. The more leads you speak with, the great the number of interested people you will find, in other word you can qualify leads quicker. Using a power dialer for standard outbound dialing is a simple function which increases the sizes of the entire sales funnel. If the funnel is bigger you can push in more leads in a shorter amount of time and get more results. Using a power dialer in this manner does not improve the percentage of leads converted, it only increases the number because you are doing things faster than you normally would. If this is your only function for the dialer, a predictive dialer may have advantages. With a predictive dialer lead lists can be called faster than from a power dialer. The downside is that the percentage of leads converted goes down with a predictive dialer even though the number of qualified leads goes up. For more information on this, see my last post.

As a stand alone system, a power dialer is a useful tool. By themselves, however, they are limited in their capabilities. Even from a power dialer you quickly reach a limit to how many leads you can call per day. Ultimately, it isn’t the size of the funnel that can achieve the results every one wants, it is the quality of the funnel. When a power dialer is integrated into a CRM, results improve dramatically. This is because leads can be called while they are fresher or “hot” as some would say.

The most dramatic increase in sales, however, is with a complete Lead Response Management system. This because such a system has a built-in dialer which gives the dialer capabilities that a dialer integration would not have, or would require costly coding to have. A built-in dialer has the capability of having dynamic lead lists which can be refreshed at specified intervals. On top of that, such a power dialer will also be able to call leads immediately after they are posted to you LRM system because the LRM can push the new leads to the top of a lead list that is being called. With such a system, response times are reduced from hours, for fresh leads, to mere minutes or even seconds. This is vital because in our fast paced world, the longer you wait to call a lead, the greater the chances that they have already purchased from a competitor.

Furthermore, the longer you wait to get a hold of a lead, especially a web lead, the greater the chances are that they will no longer be at the number they specified as a contact. So generally speaking, quicker response times equal more leads from your list actually contacted, which in turn leads to more sales.

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