Recently, InsideSales.com (News - Alert) released a study indicating that companies grossly underestimate the time in which they respond to sales leads. Moreover, companies also overestimate the number of times they attempt to reach these leads. As a result, the study suggests, companies are simply throwing away potential customers.
The study collected data from over 700 members of the American Association of Inside Sales Professionals, asking members to evaluate their own perceived response time and performance.
The study found the following:
- When asked how many attempts their sales teams make to contact a lead, companies most often estimated “more than five,” but in reality the most common number of attempts was zero.
- Nearly 25 percent of companies surveyed thought they were responding to leads within five minutes, when in actuality only five percent responded that quickly.
- More than 90 percent of companies surveyed believed that their first response to sales leads was done by phone, when in reality 67 percent of companies make their first contact through e-mail.
It seems that there is a huge disconnect between how sales teams perceive their performance and reality.
Ken Krogue, president of InsideSales.com, explains, “There is a term in social psychology called ‘illusory superiority,’ which is the tendency to overestimate positive qualities and abilities. With this research study we've found that illusory superiority is in full effect when it comes to sales lead responses.”
He added, “The companies we surveyed typically had lofty perceptions of how they were responding to leads, but the hard truth is that reality falls far below those perceptions. This has the distinct potential to be devastating to an organization’s bottom line and can be a major hindrance to growth.”
Fortunately, predictive dialing technology removes the influence of illusory superiority by leaving the lead assignments, response time, and outreach scheduling to a computer. Without the effect of subjective measurements, predictive and automatic dialers calculate precisely when and how many times to call a prospective customer. This means no more wasted leads.
Predictive dialer software is capable of organizing lead data, sales information, customer history and call back information, which can be provided to agents automatically. Complex algorithms use this data to determine prime call times and high percentage leads. Moreover, predictive dialers calculate precisely when to place calls, predicting when agents will finish current calls and dialing the next before they are finished. This ensures that call center agents are on the phone engaging customers as much as possible.
So, for those companies suffering from an exaggerated perception of sales performance, a predictive dialer may be the best way to get these views in line with reality.
Edited by Jamie Epstein