Response rates are tracked meticulously by sales teams as they directly impact sales conversion rates. Sales Reps look to craft compelling sales messages to prospects to maximize response rates. They leverage a lot of intel around the leads as well as the target organizations to do so.
In our experience, there are a few intel that are potent in their ability to dramatically improve response rates and demos. Here is why they work and how you can use them:
- Knowing when the fiscal year of your prospect ends:
You would have observed it in your own company - end of the financial year is when you plan the budget for the forthcoming year. It’s when you decide what tools you want to purchase and how much money you want to allocate.
When you reach out to your target prospect decision makers at a time they are actively looking to decide on buying a service/product like yours, the chances of getting a response increase. That seems intuitive enough, but few actually follow through on this. A couple of reasons why - 1) Fiscal year is something you’ll need to hunt for on the internet and 2) This hasn’t been an intel you’ve actively acted upon in the past.
It’s December now and a ton of your prospects would be have their next fiscal years starting Jan.
Time to write to them? We know of a startup that can readily provide you this.
- Know what HR tools they use that you integrate with:
You integrate with a number of HR tools as your customers use those tools. Why not use that to your advantage? Plus, it makes total business sense as you’ve already done the hard work of integrating with all those tools. We’ve written an article that takes a deep dive into a specific kind of HR tool: Applicant Tracking Systems.
We’ve found that this strategy is particularly good. We’ve seen demo rates jump by as much as 11X (incredible, isn’t it?). Experiment with this - you’ll be surprised.
Want to know more about the a top ATS and what its customer distribution looks like? Check it out here.
- Give a personal touch using blogs
Use blogs. People write them with the hope that others will read them. So if you tell them that you did and that you found it insightful in some way, that’s a great way to get a conversation started.
This approach could take up a little more time since you are crafting individual, customized messages, but it also promises to give much better response rates.
- Catch them early in their roles
People who’ve just joined companies or been promoted are more disposed towards responding to you. Why? They are enthusiastic and are gung ho about getting new initiatives rolling. They want it to be known that it was their initiative.
We’ll be back with more insights that you can start tracking around your prospects that will help you get better response rates. In the meantime, do take a look at this case study of an HR tech startup that increased its response and demo rates by strategically using tech intel.