Jaspar Weir is the co-founder and president of TaskUs, a virtual personal assistant company. Jaspar grew the company’s revenue by 1,893% from 2009 to 2012 and was recognized by Inc. Magazine in 2013 as one of the 500 fastest growing companies in America.
My topic is about ridiculously good sales prospecting and outsourcing your SDR’s. I am the President of TaskUs and my job is to help scale our sales team, and I also sell for the team.
Cold Calling is Dying (or Dead)
In 2007, it took 3.7 calls to make contact with a prospect. Now it takes 8 calls. Also, only 2% of cold calls result in an appointment. It can take on average 6.25 hours to setup an appointment. This is a problem.
Many companies have built their companies around Predictable Revenue, which works but can be really expensive. If you don’t have a lot of funding, it may not be possible. You have to pay on average $55,000 for SDR’s and they spend a lot of their day prospecting and researching.
That’s expensive and a lot of missed phone calls or opportunities that you could be making. In other words – it’s going to be too expensive for most companies to growth hack with cold calling.
The TaskUs Story
Our salespeople at first spent too much time prospecting, learning about sales triggers, etc. We decided that we needed to outsource our SDR to our team in the Philippines. In order to do this, we had to teach our team in the Philippines to identify: high value prospects, relevant service offerings, etc.
Our next strategy was that we wanted to email potential prospects. However, we were worried that our messages would come across as foreign and ineffective. We taught our Phillippines team to send custom emails that include a reason to contact, a great subject line, a specific ask, and we asked for a specific phone call.
Here were our results:
– 7 Team Members generate 800 targeted, researched leads per month.
– Of those 800, we have a 29% response rate.
– They’re written in the Philippines but look like they’re coming from our SDR’s.
– 3.4% become qualified leads.
– Our cost is roughly $5 per lead. It costs us $71 per appointment vs. roughly $230 for traditional SDR’s. That’s a huge cost savings
Redefiniing the SDR’s
You shouldn’t go and sell your SDR team. We still need to cold call warmed leads that have received our messages. We need to make sure that we’re still calling all of our warmed leads plenty of times.
One size does not fit all though. Here are some factors to consider:
– What is your long term vision?
– Do you have the $$$?
– Do you have the time?
Also, try the following to improve your prospecting strategies:
– Document your prospect
– Define good/bad prospects
– Determine reliable data sources
– Test and see if it is replicable. A/B Test.
Sales Hacker Conference is a meeting of top sales execs sharing the unique sales hacks they’re using to attain nine figure revenues in B2B sales. Sales Hacker Conference was held on April 24th, 2014 at SPiN in New York City.
Sign-Up for PipelineDeals Sales Series Powering the Pipeline for 30 Days