Cold calling is a tricky channel to master. You can have the best professionals, the best pitch, the best tech, and yet you might still fail because of circumstances outside your control. That said, one of the crucial factors that determine the effectiveness of any outbound campaign is the quality of your data. If you have better data on average then your cold calls will also perform better on average.
To put SalesIntel’s data to the test, a cold calling contest was conducted between December 2nd-18th. Sales reps used different lists for their outbound calls to determine which data sources performed the best.
The winner of the contest was awarded a $200 Amazon Gift Card and a special annual subscription of SalesIntel valued at over $5,000. The winner was also invited to a member spotlight event to share their tips and experience.
RevGenius – One of the largest and most vibrant communities of sales and marketing professionals.
RevLeague – The most competitive club to fill your funnel.
ConnectandSell – Leading dialing solutions provider.
SalesIntel – Leading B2B data intelligence platform.
The dialing sessions were held on December 2nd, 4th, 9th, 11th, 16th, and 18th. A select, RevLeague callers group was provided dialing solutions by ConnectandSell and B2B data by SalesIntel.
Each participant used SalesIntel’s data alongside their own lists, and results obtained from each list were recorded separately. The participants were free to use the data how they liked because the results emphasized percentages and not absolute numbers. The call lists were divided into three categories:
Follow Up Calls: This was the warm list of prospects sales reps had contacted before.
C&S One to Many: This was the cold list of prospects sales reps had built themselves.
SalesIntel Lead List: This was the cold list of prospects built and provided by SalesIntel.
Bad Data: The percentage of data points that were outdated or inaccurate in each list.
Attempts per Connect: Average number of attempts it took to connect with a prospect.
Meetings Conversion: Percentage of connects where a meeting was set.
Results and Discussion
56% More Connections
The participants made 1,844 calls total across all four lists. There were a total of 36 connections made and an average dial-to-connect ratio of 51.2. The study gets interesting when you break down those ratios by list:
The result – SalesIntel list delivered a 20% higher dial-to-connect ratio compared to Follow Up Calls and a 56% higher connection rate when compared to participants’ own cold lists.
Not only did SalesIntel outperform the sales reps’ cold lists, but, shockingly, SalesIntel’s data had an even higher connection rate than the warm lists.
73% Fewer Attempts to Reach a Prospect
The participants made an average of 7.2 attempts to reach a prospect from their Follow Up list, and on average 1.9% of the data was inaccurate or outdated. For the cold list sales reps made themselves, the numbers stood at 3.8 attempts and 2.4% data inaccuracy respectively. For the SalesIntel list, they had to make only 1.9 attempts to reach a prospect, and there were no reported data inaccuracies.
The result – With SalesIntel’s list, participants had to make 73% fewer attempts to reach a prospect.
33% More Meetings
The meeting comparison has too small of a sample size to be statistically significant at only 4 meetings set, but the data is still interesting. A meeting was set for every 4 connections made from the Follow Up List and a meeting set for every 3 connections made from the SalesIntel list.
The result – The rate of setting up meetings with the SalesIntel list was 33% higher than the follow-up list.
Before starting the contest, it was presumed that the warmed Follow Up list would perform best. The real contest was expected to be between the cold list participants built themselves and the one SalesIntel provided. But, after the results came in, it was surprising to see that SalesIntel’s cold list performed even better than the warmed Follow Up list on every benchmark.
The participants made on average 56% more connections, set 33% more meetings, and made 73% fewer attempts using SalesIntel data.
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