At some point in the life of your business, you have said to yourself, “Isn’t there a better way?!”Businesses with a mind for efficiency are more often greeted with success. Striving to always perform, achieve, and grow value reaps huge rewards. IKO System was created as an answer to the above rhetorical question. In examining the wasteful and frustrating processes of prospecting for new leads, we realized an opportunity: What if: cold calling no longer existed?
Making a Change
At one point, prospecting consisted of knocking on doors. Then it was combing through the phone book, at random. Then it was rented phone lists. These antique forms of cold calling have come and gone. So why are we still relegated to cold email outreach online? Cold sales emails have stood as the standard for our relatively new, digital age. Indeed, cold sales email changed the way businesses prospect for leads, set appointments, and qualify prospects before a sale. Yet, these nurturing processes are still lengthy and grueling. Blogs, online forums, and social networks contribute to the cold sales email processes. All modern methods necessitate an extensive quantity of research for targeted leads, as well as CRM and marketing automation software to manage and track prospects and clients. With an unfathomable quantity of information online, keeping up with prospects can prove challenging.
Your Sales Team
The burden of responsibility lands upon the sales rep, that vital – yet scarce and often overworked – employee. The quality modern sales rep must be process-oriented and organized dynamo. One able to quickly identify mature leads, layout the accounts and its influences, network with influencers, tap into the cultural scene, prioritize all opportunity, differentiate him or herself from the competition – all while accelerating and securing deals continuously. Because of this workload, a productive sales rep is worth his or her weight in gold. But what could a genuinely driven sales rep accomplish if their schedule was only to call qualified leads and close deals? Wouldn’t this be better?
It’s been over twenty years since the Internet shifted the paradigm of cold calling to a cold sales email format. But now the question seems fresh again: “Isn’t there a better way to do this?” The answer is yes. As in many contemporary cases, the answer arrives through innovative technology.
A Predictive Lead Generation Solution
With a predictive lead generation solution, businesses are now able to recognize and capitalize upon the value of truly qualified leads. Instead of scattershot tactics, companies integrating predictive solutions take pin-point focus upon select and profitable leads in a prioritized and organized way unlike any before. The basis of predictive lead solutions are big data algorithms, which analyze, recognize, and report upon key patterns and events that trigger business opportunities within company territories. For example, the IKO System technology tracks over 60,000 premium-access and open sources of information, plus data from millions of corporate websites. To better capture leads, our solution also provides points of contact – email, phone, social profiles – for over 50 million high-ranking professionals in 32 countries. Mass data insights from Reuters, Bloomberg, LexisNexis, Marketmonitor and others fill out the range of information available to such algorithms. Once all data is collected, it is cross-referenced between all other press articles, reports, data sets, and social signs established as relevant to a particular business model. This array of intelligence is crunched, organized, and assembled as predictive lead scoring on your outbound leads, immediately available for use by your sales team. In this way, a predictive lead generation solution brings the pulse of the market into your hands, in an actionable way.
2 Simple Steps to Better Prospecting
To harness the power of a predictive lead generation solution, all a business needs to do is set two easy parameters: 1) Define targets in terms of demographics and firmographics 2) Name competitors and partners (any business that is a ‘good sign’ – one that a lead is working with) The algorithms themselves will pick up the buying signals that make sense in a your market, such as:
- product launch
Once your company defines its territory in terms of demographics and firmographics, predictive solutions technology will deliver a flow of leads scored according to their buying probability. For example, those buying your product or service might fit this criterion:
- Have recruited in R&D
- Have changed CEOs
- Have between 50 – 100 employees.
Say this is a model of your prospect. The algorithms then collect the leads that most resemble these “ideal prospects” and scores them based upon their probability of becoming a buyer. It will also take into account prospects who have characteristics similar to those who have bought in the past. New contacts will be scored and prioritized based upon the following factors:
- Job position, rank in the hierarchy, and decision-making power in the company
- Company firmographics (size, industry, location, etc.)
- Quality of contact points (email, direct phone number – the feasibility of reaching the lead)
- The lead’s buying signals for an offer similar to yours (public discussions, interviews, preliminary talks with your competitors)
- Buying signals at the corporate level (existing technology or service providers, recruitments, new product launches, investments…)
Given the selected criteria, each piece of information (whether structured or unstructured) is read as a positive or negative signal and impacts the score assigned each lead in a business’s territory.
What Does This Mean?
Considering the extensive list of insights on each lead, cold email outreach is no longer so cold. Sales email subject lines now directly target your lead’s pain points, so email trigger rates increase substantially. The ability of your sales team to engage leads will seem intuitive, so triggering inbound sales meetings see an immediate upswing. Sales follow-up emails can now be a laser-focused tool for sales reps. With a dynamic ranking hierarchy, each unique cold email outreach will appear as personalized and value-laden for the lead. In the case of the IKO System, we offer the highest prospecting conversion rate on the market. Our ranked and scored list of predictive leads convert to meetings 8x more than typical prospecting.How powerful is this? With predictive lead generation, you’re optimizing your sales process with a prospecting machine that brings inbound marketing and outbound prospecting together as one. A significant jump in both efficiency and sustainability is to be expected. You’re now converting more leads on volume, yes – but with inside market information, the sales force can also leverage these insights to increase their close rates. And since you’re engaging the decision-makers, a typical ROI of 20x to 300x is to be expected. “This is the better way we’ve been waiting for.” As with any technology, seamless integration and ease of use is essential for future productivity. A quick and well designed SaaS interface will be the best way to maximize predictive lead generation efficiency within your sales force. The IKO System makes this particularly easy: one click integrates you with Salesforce, Marketo, or Hubspot. Your team will be up and making sales in minutes. With a SaaS full of qualified leads, your business is best positioned to maximize the best in email outreach. On a daily basis, the lead generation team will run through these lists of leads (prioritized by buying score), assess and confirm the lead quality through the set buying signals, add or exclude them, and then engage with their chosen leads through email, phone, or social channels. Sales growth is the direct result of both sales development and sales action. Savvy businesses (such as Adobe, Microsoft, McAfee) know that best sales methods require the optimal tools for organizing, researching and delivering leads to sales reps. This is the true power of the predictive lead generation solution: absolute efficiency within your sales force and increased cold email conversions on outbound leads.
What could make this better?
Automatic engagement.Looking ahead to emergent technology, businesses can expect new platforms that will enable sales teams to automatically engage leads and trigger responses with new outbound leads, inbound leads already in their CRM, or leads from social networks, online, and more. Choosing a focalized email scenario and subsequent send rates are two of the many features soon-to-be available within the automated engagement process. This way, you can save your valuable sales reps the grunt work. Instead, you can help them achieve new levels when building a robust and sustainable sales pipeline. But this is the future of IKO System. In the meantime, don’t forget to download our 5 most efficient cold email templates to increase trigger rates and net more conversions.