In the world of B2B sales, the effectiveness of a marketing channel is often measured by its “show rate” – the percentage of scheduled meetings that actually take place. Different lead sources yield different show rates, and understanding these differences is crucial for sales teams looking to optimize their strategies. In this article, we’ll explore the show rates from various marketing channels and delve into the reasons behind these differences.
1. Cold Call Generated Sales Appointments
Show Rate: Based on industry data, cold call generated sales appointments typically have a show rate of around 40-50%.
Why the lower Rate? Cold calls are unsolicited, meaning the prospect wasn’t expecting your call and might not have an immediate interest in your offering. This unpredictability often results in a lower commitment to attend scheduled meetings.
2. MQL Converted Sales Appointments
Show Rate: MQL (Marketing Qualified Lead) converted sales appointments tend to have a higher showrate, often ranging from 60-70%.
Why the Rate? MQLs are prospects who’ve shown interest in your product or service, usually by engaging with your content or visiting your website. They’re further along in the buying journey, having researched not just your company but also your competitors. Their proactive approach indicates a genuine interest, leading to a higher likelihood of attending the meeting.
3. Referral Generated Sales Appointments
Show Rate: Referral generated sales appointments boast the highest show rate, often exceeding 80%.
Why the Rate? Trust plays a significant role here. A recommendation from a trusted advisor or colleague carries weight. The prospect feels a sense of obligation and trust, making them more likely to honor the scheduled meeting.
Tailoring Your Approach: Cold Calls vs. MQLs vs. Referrals
Cold Call Generated Meetings: Prospects from cold calls are often in the early stages of their buying journey. They might not be familiar with your company or offering. As such, it’s essential to focus on relationship-building. Give them ample time and information to warm up to your proposal. Understand their pain points, provide value, and nurture the relationship.
MQL Generated Meetings: These prospects are more informed. They’ve done their homework and are looking for specifics. Tailor your pitch to address their unique needs and concerns. Highlight how your solution stands out from competitors they might be considering.
Referral Generated Meetings: While trust is already established, it’s crucial not to take it for granted. Reinforce the value proposition and ensure you live up to the expectations set by the person who referred you.
In Conclusion
Understanding the nuances of different lead sources allows sales teams to tailor their approach, increasing the chances of a successful sale. While show rates provide a glimpse into the effectiveness of a marketing channel, the real magic lies in adapting your strategy based on the prospect’s journey and source. Remember, every prospect, regardless of their origin, is looking for value. It’s up to you to deliver it in a way that resonates with them.
David Balzen
Chief Demand Officer
