I was talking to a client today who runs an enterprise mobility company that gets all of their leads from inbound marketing. They follow the normal process of blog posts, social media and thought leadership to bring in leads, but now they want to grow faster.
Not having enough leads is one sign, here are some other things that start happening when you’re ready to invest in outbound sales:
1. You want to work with targeted “high value” accounts
Let’s say you’re a SaaS company that sells in the 20–30$/month range. It can scale and it probably will, but imagine having 2–3 enterprise accounts that can pay you $1500–2000 a month?? Imagine all the things you can do with that money and imagine all the people you can hire or reinvest back into building an even better product.
My goal as a college kid was to work at a company that worked with name brands, so I could see their ads on TV and feel cool.
Whether that’s weird or not, working with big brands is an amazing tool for bringing in more high value clients and recruiting.
We all have those dream clients — brand names that would make an amazing addition to the portfolio.
A targeted outbound campaign is the most efficient way to reach target accounts.
We’ve had clients sell into the Fortune 1000. For them, we break down each target company into departments then we approach each department like a separate account and approach each target directly.
You can’t get those results with whitepapers or PPC.
2. Your product “sells itself” when you talk about it at events
Try this — go to an event tonight and network as hard as you possibly can. Meet everyone and pitch them on what your company does.
If you’re anywhere close to product market fit, you’ll notice questions coming from the attendees.
They’ll ask things like:
“What sort of packages do you offer?” or
“What does that look like?” OR if you’re really at PMF
“How can I sign up now?”
Those are closing questions my friend, and when they happen during your elevator pitch you know that it’s time to invest in more salespeople.
This is a good sign that an outbound process should be implemented.
3. You have unused production resources
If you’re an agency that hires full time workers exclusively, first of all.. why??
Hiring a full team of developers — without billable projects to keep them staffed at 100% is losing you money every single month.
If it’s happening a lot, you see your mobile team not working for days at a time then you NEED a real outbound sales team to bring in leads and close more deals, if only to stop your company from losing money.
A good outbound campaign will force you to hire more production to match the demand, not the other way around.
We worked with an agency for leads at GrowthOK a while back and they had developers sitting around the office doing nothing waiting for more work from their single sales guy that was trying to close inbound leads. Yeah, a bit waste of resources…
4. Your average customer value is over 8k
Let’s run some simple kindergarden math:
- It takes an average of 3 months from initial contact to close.
- Average sales cycle is 4k a month.
- Average salesperson can close 2 deals per month.
- Average deal size is 8k.
That’s 16k in revenue for every 4k you put into sales after 3 months onboarding for EVERY salesperson you add, assuming you have solid deal flow.
With that sort of ROI lead generation and outbound sales should be a no brainer.
5. Your inbound marketing campaigns aren’t performing
Similar to the woman I talked to this morning, maybe you’re amazing at inbound and see yourself as blogger first, SaaS owner second.. that’s great but inbound can only go so far.
If you have extra time in the day, you should be filling those with new business meetings.
Every time you’re not working on the business, you should be in back to back meetings with potential customers selling them on what you do.
If your inbound marketing isn’t working, then it’s time to test another channel and there’s no better way to test a new market than using outbound sales and lead generation.
6. You’re a business owner and you want to focus on operations/product
Let’s say the opposite happens — maybe you’re happy with your sales, you’re doing most of the work and in back to back meetings.
Do that for any length of time and you’ll notice the quality of your product goes down.. a lot.
As a founder you can’t be selling all the time, and if you find that happening, it’s time to hire a sales team so that you can start working more on the product.
As a founder, do you have time to sit in front of the computer for 4–5 hours a day list building and then another few hours on prospecting…Your time is worth more than that.
Also, you might just hate sales. It’s not ideal, but as a founder you can get through it by hiring a sales team — you don’t have to sell.
7. You have aggressive growth goals
Shoutout to my hustlers out there! Paul Graham wants you to grow 10% every single month, but you don’t have the budget to hire dozens more people. Are you just supposed to work harder and harder until you burn out?
The best action in this situation is to hire vendors that will help your team hit the goals — the right vendors will help leverage your resources without hiring a team.
On the sales side, GrowthOK is the most efficient way to find targeted leads or book appointments for the team.
8. Your cold emails have worked in the past, but you can’t send consistently
Give this one a test — make a list of 10 people your company could work with, find the SVP with the right title using linkedin, and guess the email address using EmailHunter.co
Send them all completely custom messages under 5 sentences pitching what you do and see what the response is.
If even one person got back to you interested, you’re leaving tons of money on the table by not investing in outbound. That’s a 10% conversion rate!
Now if that happens, it means that you can scale out your outbound process. Start buying some qualified leads and request personalized data. You can do this by reaching out to GrowthOK.
9. You have a product that’s brand new to the industry
Maybe your product is *too* different from the competition. That means you have to educate the market before they look for you.
In that case inbound marketing isn’t going to work without being extremely expensive.
The best thing to do is reach out to customers one by one and educate them.
If you’re unable to get sales with this direct method, a side benefit is you’ll pinpoint tweaks and changes you can make to your offering that will you sell.
10. You’re in a competitive industry
It’s not a bad thing that you’re in a competitive industry. It means you have a big target.
App development, quality assurance, even offline businesses like solar panels or plumbing are all tremendously crowded industries.
That means the heavy hitters in the industry are already using online ads, old school advertising, and sales teams to beat out the competition — they need to.
If you find yourself in an uphill battle to win every. single. client. You might be in a commoditized industry.
Outbound sales works really well, especially for companies that clone what freelancers do (designers, mobile devs).
With a good outbound email campaign, you’ll be able to target customers that won’t be influenced by competitor’s ads. You’ll also reach customers at the exact moment they’re looking for someone like you, letting you close faster.
As always if you’re looking for qualified and targeted sales leads, why not give it a try and reach out to us at GrowthOK
P.S. We have a FREE 10 sales hacks in 10 days email course that you can find here — http://www.growthok.com/saleshacks