How we help improve SDR team’s conversion rates
As a former SDR myself I have found that the more customized the messages you deliver to your prospects the higher the likelihood of a response from that prospect is. The questions i faced were:
- What form of content best resonates with my individual prospects as a whole?
- What is my customized email to meetings booked, opportunities created & deal sourced conversion rate?
- How can I execute & scale this up ?
- Last but not least is what is the difference in conversion rates from volume generic industry based outreach to individually customized messaging outreach?
What form of content best resonates with my individual prospects as a whole?
With snippets taking the form of company and/or prospect related insight, marketing content such as bite sized case study insights being used to draft an email, the assumption taken is that every Prospect is the same, which is a false assumption. Not every prospect is the same according to Gartner whose study suggests that prospects now take on different pieces of content to help with their initial, mid stage and late stage decision making process. As a result it is crucial for a business to start using AI and better understand what content best resonates with the individual prospect and thus better understand your ideal customer profile.
What is my customized email to meetings booked, opportunities created & deal sourced conversion rate?
Increasing volume alone won’t help in closing deals. Every VP of sales will tell you that it is all about quantity, quality , focus & execution. According to the study done by SalesReply that looks at different estimates of impact on conversion rates for SDRs before and after COVID 19.
Whilst it estimates that on average an SDR would have to undertake 4,400 activities in a month due to the COVID19 pandemic an increase of 224% compared to what SDRs activities were prior to COVID19 with 1,961 activities per month.
With the increase of activities it is estimated that there will be an increase of 56% in meetings booked, as well as an increase of 58% in opportunities created, all of this only to sustain the same amount of deal sourced by SDRs prior to COVID.
How can I execute & scale this up ?
Technology, process innovation & initiative. Whilst there are many qualified software that allow you to to answer the question of WHY & WHAT is it that you can bring to a prospect. The idea to execute a better conversion rate steams in the HOW do you execute effectively on all the above questions.
According to our research it takes an SDR about on average 10–15 mins to find a bite sized actionable insight and about another 20 mins to draft a personalized email. Our technology brings the time to execute on both these actions to a mere 30 secs as the technology allows for the SDR to do the research on the fly and select the relevant & actionable insight and with a click of a button the emails will be auto generated with the use of snippets that can take many forms thus deploying process innovation whilst ensuring quantity & quality of outreach goes hand in hand by scaling your customized messaging and outreach. Benefits being a data driven outreach that will help you understand what content best resonates with prospects, help boost activities and better improve conversion rate.
What is the difference in conversion rates from volume generic industry based outreach to individually customized messaging outreach?
Truth here is that there are a number of drivers to look at that have different outcomes for the different businesses and industries. Safe to say that the conversion rate on average in % terms has always been on the lower single digit. With product market fit, USP, priorities & timing amongst other things acting as clear drivers to a decision making process. More and more businesses are focused on value based selling, acquiring the ideal customer profile, retaining and upselling those customers. Independent to where your company is at in its maturity curve the need for a higher conversion rate is a must as a result deploying a quantity & quality based customized outreach at scale has a better chance of enabling that improved conversion rate for SDR teams with no risks or trade offs
