Feedback from the Market
When you run a marketing campaign, your primary objective is to directly generate leads, make sales and increase your revenue.
However, as well as directly increasing revenue from the new customers you sign from this outreach, you also benefit from the responses that potential buyers are giving you at scale.
Here we’ll talk about the feedback and data that you gain from cold outreach and the impact that can have on your business.
Learn why your target market are saying no
When you’re doing cold outreach, you’re directly in contact with the people who are your target audience.
When you get a positive response, you have a lead and a potential new customer.
But when they say ‘no’, you’re able to open a conversation where they can tell you why they said no.
This is first hand feedback from people who are potential buyers about why they don’t need your product that you can leverage.
By reviewing feedback the feedback that your market are giving you, and the common objections to being interested they provide, you’re able to incorporate these concerns into your messaging, or tailor your product so that it better matches your markets’ needs.
As an example, we recently worked with a SaaS company. After hearing a lot of the same objections, we helped them pivot their main use case in our messaging, on their site and in their content which resulted in a massive boost to the number of leads they were generating.
Test how your product/service will be received by new audiences
Another benefit you gain from direct outreach is being able to test your offer with new markets, whether that be different locations, different industries or departments.
If you’re not sure how a certain industry would view your product, or you’re not sure how well it would be received in Europe, you’re able to get in front of decision-makers in those areas quickly and at scale and find out for yourself in a very cost-effective way.
For example, we worked with an AI company that had highlighted healthcare as its key target market when in reality, their product was industry-agnostic.
We were able to build lists of 2,000 decision-makers per industry of interest at businesses that fit their criteria and tested the responses.
They found that SaaS businesses and agencies took a much greater interest in their service than businesses in healthcare.
They were then able to scale this outreach up and onboard customers at a much faster rate.
Discover which key feature is the one which grabs the most attention
Another benefit of reaching out to your market at scale is that you’re able to A/B test different angles.
Most SaaS products for example will offer more than one key feature or benefit. Without getting feedback from potential buyers, it’s hard to know which feature is the one that brings the most attention.
We worked with a data analytics software who offered who were in this position and had a huge range of features and benefits for customers who signed up with them.
The core message that they were leading with on-site and in their content was that the use of their platform saved time when compared with the most common existing method.
However, after A/B testing various angles, we found that the improvement to the accuracy of KPI forecasting and the benefits this could bring to strategy and management generated a much greater number of leads.
We were able to scale this messaging and our client produced content around this angle that we were able to leverage to hit record sales months.
In summary, there’s a lot to be gained from getting feedback from the market.
Cold outreach doesn’t have to just be a plug and play system where you create a campaign, build a list, send the campaign to the list and generate leads.
Cold Outreach should be an iterative process where you’re constantly analysing data, reviewing feedback and fine tuning your campaigns for maximum impact.