Question

Topic: Student Questions

Number Of Telephone Calls To Convert A Prospect

Posted by Anonymous on 8/16/2005 at 3:34 PM ET 250 Points
I'm a georgetown MBA doing marketing research. Can anyone tell me
1. The number of cold telephone calls it takes to convert a prospect to a sale

2. The average length per call

3. The percent of cold calls that become sales on average

If helpful the industry is Biotech

Thank you all very much for you insights!
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  • Posted by telemoxie on 8/16/2005 at 8:42 PM Accepted
    If a product is innovative, sometimes one much convince one or more folk of it's value, and that can take time.

    If product or service is not innovative, and one tries to build "top of mind association" - some say it takes 15 "contacts" to accomplish this (can be a message, phone call, letter, email (which they read), etc.

    Length of calls will depend on what you are trying to do. Initially, calls may be shorter, but as you build rapport and generate interest, and as other participants may become involved, calls may get longer.

    Personally, I have VERY LITTLE EXPERIENCE with the Biotech industry. My sense is that marketing is done more thru industry associations, trade press, and so forth than thru telemarketing.

    My sense is that you might do well to break the sales process into stages - identifying proper contacts, gaining interest, cultivating interest, qualifying a possible purchase, closing the deal... and estimate call lengths and percentages for each of these phases. Good luck.
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