As a small to medium-sized LED business looking to grow, you’ve probably considered a variety of strategies. Maybe you’d like to design and develop a custom website to generate more leads online. Or, maybe you’ve considered hiring a sales representative to cold call leads.
A lot of B2B companies are hesitant to try B2B appointment setting, and they’re usually even more hesitant to outsource sales efforts. This is completely understandable because it’s hard to know what kinds of results you’ll see from a B2B appointment setting program. Fortunately, at Abstrakt, we have experience working with LED companies and can provide that data for you.
If you’re considering using a B2B appointment setting for LED lead generation, here are some stats you should know.
Average Deal Size: $31,390.84
The average deal size that you’ll get as a result of B2B appointment setting efforts is $31,390.84. This is not to say that some deals won’t be much smaller and that others won’t be much larger (LED projects can sometimes be huge, resulting in a very high dollar amount). But that’s the nice thing about B2B appointment setting; when you’re building your sales pipeline, you get all kinds of opportunities and aren’t limited to just one thing.
The purpose of B2B appointment setting is to call all types of companies in a variety of industries so that you can get different opportunities.
Using B2B appointment setting, you may talk to the following types of companies:
- Car dealerships
- Retail companies
- Office buildings
By talking to a variety of companies, you can get all different types of LED lighting jobs—interior LED lighting, exterior LED lighting, refrigerator LED lighting, and so much more. The sky’s the limit when you’re working every day to build a healthy, robust sales pipeline.
Most Common Key-Decision Maker: Facilities Manager
Most B2B businesses think that when engaging in sales activities, their sales reps need to try and speak with the highest authority at a company. Even LED companies will go after CEOs and other executives when trying to schedule a meeting.
For LED companies and many other B2B companies, the decision-maker isn’t who you’d think. The most common decision-maker in B2B appointment setting programs for LED companies is actually a Facility Manager. When you begin prospecting and building your list, make sure you find contact information for the right people at different companies and you’ll see more success.
Typical time between 1st dial and 1st appointment (days): 82
An LED lighting project is a big investment for any company, so it’s no surprise that it takes a little over 2.5 months before you’ll even set an appointment. As a company looking to grow today, you may not want to wait this long to get in front of potential customers. However, you must realize that in a B2B appointment setting program, a lot goes on during these initial days.
The following are just a few of the things that go on at the beginning of a B2B appointment setting program:
- Prospecting and list building. While this should happen in the very early stages, strategic prospecting is still an important step that takes time. You want to make sure you have the right prospects on your list who fit your target market.
- Gathering information and recording it in your CRM. The next step is to actually begin calling and emailing prospects to have that initial conversation. Any information you find out about these companies should be carefully recorded in your CRM so that you can reference it later as you nurture prospects.
- Lead nurturing. In the early stages of B2B appointment setting, you’ll also want to focus on qualifying and nurturing prospects. Ask qualifying questions to make sure prospects are still a good fit and nurture those who are still a good fit until they’re ready to buy.
- Timing, target, and message. During these initial stages, it’s really just a waiting game. It’d be nice if you scheduled an appointment the first time you picked up the phone, but all good sales development representatives know that an opportunity is born when the right timing, the right target, and the right message intersect. In the first couple of months, sales reps are working on aligning these three things.
Be patient, and realize that B2B appointment setting activity works. Once you have a healthy sales pipeline built, you’ll be able to grow exponentially and exceed your sales targets.
# of dials between 1st dial and 1st appointment: 10.6
The number of phone calls it takes to a single prospect in order to schedule an appointment is, on average, 10.6. Again, LED lighting projects are a big investment, and most of your prospects are going to need some time to think about that decision. The other important takeaway here is that each of these phone calls is critical in a B2B appointment setting program. Why? (1) a sales rep is nurturing the prospect until it’s the right time for them to buy and (2) with each call, the sales rep is learning more about prospects and building relationships, which gets the prospect closer to making a confident decision to buy your product or service.
If you’ve considered B2B lead generation tactics for growing your LED business, we hope these statistics provided some insight into what a B2B appointment setting program would look like. At Abstrakt, we have extensive experience helping LED companies grow their business using proven and effective lead generation techniques. If you’re interested in what a program might look like for your business, contact us today.