“We’re a data-first company.” — Matt Wheeler, CEO and Founder of QualifiedMeetings.
Matt said this a handful of times throughout our conversation. So let’s start there – with the data.
- Matt has helped companies realize $250MM in new customer sales as an SDR and through inside sales programs.
- He’s personally placed over 250 thousand sales calls. (Yes, 250 thousand).
Sound impressive? I thought so, too. So I invited Matt to come on the 1 to 10 Podcast and tell us what he’s learned from all those calls.
Cold Calling Is Not Dead
Matt doesn’t believe cold calling is dead.
Not even close.
This one was hard for me. Because as a digital marketer, I’m all about the message. But Matt made at least an inquisitor out of me; if not a believer.
Matt’s company helps businesses accelerate and build out pipeline. He offers a white-label, customized approach to every client, helping them build their ISR and SDR programs. Just last year, using the sales teams his company has set up, was able to use 3 million data points to pull out some numbers. Here’s what he had to say:
Their attendance rate & qualification rate on meetings was 87% from outbound sales calls, versus a 35-37% attendance rate and qualification rate on meetings that came from inbound opportunities (via social media or email).
Matt says it’s because you can build a relationship while you’re on the phone in a way you simply can’t over email.
So, how can Matt’s millions of data points help steer your ISR (Inside Sales Representatives) or SDR program in the right direction?
1: Start With the End in Mind
It may sound like a knock-off from the 7 Habits of Highly Effective People, but it’s true:
You want to stop and ask yourself:
What are our revenue goals?
Then, reverse engineer your sales program from there
2: Consider Why Current Customers Buy From You
Who are your current customers? Why do they buy from you?
Matt says you should literally make a bullet point-list of what really makes your customers excited. Once you answer these questions, your sales team will have ammunition to start their pitch.
3: Get the Whole Company Collaborating
From some of his biggest successes, Matt has learned this: sales happen when the whole company is supporting the sales function.
This isn’t just sales and marketing alignment, it’s a holistic company effort.
In one example, Matt helped Forescout scale their sales team from 1 person to 30 people, and, eventually, Forescout went public.
They had fantastic sales success because everyone, even the CMO and the product team, were all enabling the sales team. Marketing targeted their messaging to assist sales, and product recorded some of their meetings so sales could have an in-depth look at the technical side.
4: Be Proactive & Initiate
Again, Matt’s all about the reverse engineering. He believes you can make the goal happen, but it will require work. No magic wand here.
5: Don’t Forget Reality
You have to be realistic with your sales window and with your revenue stream. Not every company needs an SDR or ISR team, especially if they have lower less than $5,000 sales per customer.
In that case, digital marketing (ahem 😉) may be a better solution.
6: A/B Test Everything
Matt says you should A/B test everything. Try one pitch. Did it work? Try changing your delivery. Compare the two.
This also goes for social media or email campaigns — continually A/B test, iterate, and try again.
What’s the #1 Thing Someone Can Do to Grow their B2B Tech Company?
We ask every guest on our podcast if they have one grand piece of advice for any growing B2B tech company.
Here was Matt’s response:
Matt’s answer was terrific: He’s a data guy, and true to form, he said to increase your data points. Many people will come to him after trying a few hundred calls, or sending out a few dozen emails, and then say, “It didn’t work.”
Matt said to try a few thousand calls, or double your emails, or just hammer away at that social campaign. Give it time to breathe before you toss out the whole program.
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