Biz Tips: How FIFA helped me improve my Outbound Strategy

Biz Tips: How FIFA helped me improve my Outbound Strategy

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How FIFA helped me improve my Outbound Strategy

FIFA 2018 has begun and people have yet another reason to look towards Russia. Since it is football season till the next month, I decided to use the FIFA model to improve our outbound strategies to convert leads into sales.

Scientists have always taken inspiration from Mother Nature to build engineering solutions. For example, the triangulation of mobile reception was inspired by beehives. I set forth to improve my outreach strategy by taking inspiration from the biggest sporting event of the world — FIFA World Cup.

Outreach/Outbound sales is hard.

This is why every ‘expert’ talks about inbound. The problem with inbound, as explained in this article, is that it requires a steady inflow of inbound queries to create, implement, and A/B test the inbound strategy.

This is not the case for 99.99% of the businesses who must:

  1. Create a niche
  2. Pray that everything goes according to plans (and assumptions)
  3. Sacrifice virgins (just to be safe)

In a nutshell, whether your business is B2B, B2C, or B2B2C, you are essentially in the same boat as the car salesman from the 80’s movies and must perfect your pitch and then go back to the drawing board to make it even better. You get 1–3 seconds before your audience begins to lose interest and wander away in their flights of fantasy. We live in a world where 60% bounce rate is considered normal because of this very reason.

Can you capture the attention of your audience in under 3 seconds that it takes them to scroll and skim your website?

The answer is NO because your audience has too many options.

youthincmag.com

Your marketing funnel goes kaput because it has more forks and sidechains than the Ethereum Blockchain. Therefore, you must keep on hitting the outbound/outreach piston unless you become a Fortune 500 company…or burnout in the process. There is no other excuse for going easy on outbound until that happens.

Coming back to FIFA, while 190 countries go gaga over football, some still do not understand its pull. FIFA Football (Soccer) World Cup is an event that occurs every 4 years where several countries (32 this time) participate to win the World Cup by emerging as the winner in the Finals.

A country does not have to defeat every other country to win the World Cup.

It just has to ensure that the countries it has defeated have defeated all the countries between them. Without getting too much into mathematics, let’s assume that there are 4 teams:

  1. Team A
  2. Team B
  3. Team C
  4. Team D

According to FIFA fixtures, the teams get divided into groups. Group 1 has Team A and Team B, while Group 2 has the other two teams. If Team A defeats Team B and if Team C defeats Team D, the finals will be played between Team A and Team C. The winner of that match wins the World Cup. Thus the eventual winner will have to defeat 2 teams to win the World Cup, despite there being 3 other teams participating. This is called the Qualification Factor and this is what is missing from your outbound/outreach sales pitches.

Since Team A invested efforts and acumen to defeat Team B, it does not have to face the defeated team of the other group — Team D. Similarly, you do not have to write the best copy in the world to convert a lead.

You just have to present a better pitch than the one they rejected last.

Read it again, internalise it, and then personalise email before hitting ‘Send’.

What exactly is a personalised email?

shelltechnos.com

Let’s circle back to sales, let’s find out the traditional outbound strategy first.

Step 1: Identify your audience

Step 2: Send out an email/message/brochure

Step 3: Twiddle your thumbs as you wait for a response

The average response rate to cold emails is around 1%.

While this number might not be a dealbreaker for those who target B2C but it starts to become a problem if you are targeting audience such as Angel Investors and Venture Capitalists. You cannot afford the 1% response rate because there literally are only 100 people in the world that you can target.

This is where FIFA comes in with its qualification factor.

Let us begin with the drafting of the email. The pitch has to be perfect. It must address three key things:

  1. Your Introduction
  2. Why do you want to talk to them
  3. What value can you add to them and vice versa

The secret ingredient, the qualification factor, is writing one line asking whether they think that they are a good fit for your business.

Ask them whether they have done X (your requirement) before.

For example, if you’re a technology company that builds products, ask them whether they have used a similar product ever before. Do they have a feedback on that?

Similarly, if you’re talking to a lead on LinkedIn, contrary to what Drake taught us, you should not go 0 to 100 real quick.

popdust.com

If your follow-up after the initial hello is the pitch, no one will respond to you unless you’re a Fortune-30 CEO. And, if you’re a Fortune-30 CEO, you do not need to worry about Outbound. You will have plenty of inbound to keep your plate full.

So, when talking to a lead on chat, after the initial hello, tell them an insight about their industry. For example, if you’re talking to a fin-tech lead, talk to them about regulations and legal.

Do not go straight for setting up a Skype call and start forwarding your calendly links.

When the conversation starts flowing, excuse yourself and then suggest a Skype call. Now that you’ve demonstrated value and made them pass the qualification factor, the lead will be emotionally invested enough to accept the call invite warmly.

At worst, they do not reply to your qualification factor. In this case, you can engage the lead again in a few days because they never rejected your pitch since you never gave it to them. At best, they will schedule a call for the very next day.

Whatever the scenario might be, the response rate will spike from 1% to over 50%.

paragarora of token launcher platform has created an platform that any ICO can buy, deploy, and execute their ICO. When he sends an email to upcoming ICOs to buy his product, he does not talk about how good his product is, but focuses on the time and money that an ICO can save by using his product. He doesn’t even suggest setting up a call with a lead until he has received a good reply to his initial email. His token launcher platform has been deployed by 10 ICOs till-date. All of it, just by the power of email and a game-changing product.

When Divyashish Jindal started Turing Labs, an ICO Consultancy Agency, he was faced with a rising tide of twin problems:

  1. Heavy competition in the Blockchain space
  2. Increasing number of fake advisors muddying up the water

He refrained from spamming upcoming ICOs with pitches that promised to take them to the moon and buy them a lambo. He took the hard route, travelled to several summits, developed a lot of connections, and collected a lot of emails. Then, he picked the ones he really liked and sent them an email. He never talked business in the initial email, but sincerely talked about how wonderful it was to talk to them. After a couple of email exchanges, he talked about his business and explained how he had raised over $100 million for ICOs.

When you’ve raised $100 million for ICOs and casually let it slip in the third or so email, you’ve definitely piqued the lead’s interest.

Both of them (knowingly or unknowingly) use the power of qualification factors to instil a sense of want in the lead. Once you’ve got a lead in that position, converting them will be easier and less time consuming than it usually is.

Most outbound strategies focus on the persistence part, we must focus more on the qualification and personalisation part.

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