By Angela Garfinkel
In Part 1 of “Telemarketing Appointment Setting Best Practices,” we discussed how to maximize the appointment kept rate when conducting telemarketing appointment setting. In addition, we introduced the six primary components of a successful telemarketing appointment setting program.
In Part 2, we discussed how to write an effective script that delivers a powerful nutshell message with a clear WIIFM (What’s In It for Me?).
All outbound telemarketing appointment setting professionals know that the third key component of success is the list you’re calling. In Part 3 of this series on telemarketing appointment setting, I’ll share my experience with curating the best outbound call list. Because my primary list purchase experience is in B2B appointment setting, I’ll focus there.
What Makes a Good List?
How do you identify what list to purchase? If you already have existing customers for your product or service, start by identifying what characteristics make up your best ones. Pinpointing your best customers and their similar characteristics become your criteria for purchasing prospect data from which to make outbound telemarketing appointment setting calls.
In the US there are about fifteen million businesses. There are many different list companies that will sell you business data, but knowing which segment(s) of the fifteen million businesses you should target is critical.
Here are some common B2B list selection variables:
• SIC (Standard
• NAICS (North American Industry Classification System)
• Number of employees
• Geography, typically by Metropolitan Statistical Area (MSA)
• Type of location (single, headquarters, branch)
• Credit rating
• Holding status (private, public)
Because NAICS is more specific than SIC codes, we prefer to purchase outbound telemarketing call lists using NAICS. This allows us to narrow the list to ensure we aren’t purchasing data that isn’t applicable for a client. For example, a travel solutions client is looking for businesses that have employees who travel. One of our good segments is construction. The NAICS code for construction starts with 23. We know that purchasing all available data with a NAICS code that starts with 23 is a waste of money. By narrowing it down to the type of construction, we can get better results. Single family home construction companies (NAICS 236115) don’t tend to have employees who travel. Specialized large project construction companies (such as NAICS 236210) tend to have employees who do travel. They go where the work is because large projects often aren’t in the geographic region where the construction company is located. This is just one example.
Create a Model, Validate, and Test
Once you’ve identified your best customers, purchased a list of more prospects that have the same characteristics as your best customers (called a look-alike model), then start placing calls. As you get call result data (disposition data) from the outbound B2B telemarketing appointment setting campaign, feed the results back to your data scientists to validate the model. Then tweak the model based on real performance.
Expertise Is Invaluable
Depending on the size of your company, it may even make sense to hire a list analyst to work full-time on developing your prospecting list. The alternative is relying on account reps from the list companies you purchase from. Their experience can be varied, and their ambition of selling you a larger list doesn’t necessarily align with your objective of buying just enough of the right list to achieve your goals.
If you could increase your telemarketing appointment set percentage by even a small amount, what would that be worth to you? List acquisition is a specialized field, and the options are varied. As a rule of thumb, we like to purchase data from compiled resources such as D&B, InfoUSA, and Accudata. Knowing who you want to target with your calling effort, knowing the results of the calls, and tracking performance by list segment will help drive smarter list acquisition efforts.
Angela Garfinkel is the president and founder of Quality Contact Solutions (https://qualitycontactsolutions.com), a leading outsourced telemarketing services organization serving the healthcare, financial services, automotive, market research, professional associations, and other B2B focused verticals. Angela leads a talented team that runs thousands of outbound telemarketing program hours daily. She is also a certified Self-Regulatory Organization (SRO) auditor with the Professional Association for Customer Engagement, and she is a designated Customer Engagement Compliance Professional (CECP). Contact Angela at firstname.lastname@example.org or 516-656-5118.