First of all, there is no right or wrong answer to this question about what is the right budget for your outbound calling campaign.
But I do have a few questions that you can use as a guide to determining the amount of spend that you should invest and then see as a return to your marketing supplement in an outbound campaign.
Here are some thought-provoking questions to ask yourself or those who work with you to make a decision –
- What is the size of your marketing database?
- I.e. How many viable customers and/or prospects do you have available with contact information like phone &/or email?
- What is your revenue goal for that period as in month or quarter or even annual?
- What type of Return on Investment (ROI) expectations or requirements do you have for yourself or at your company?
- What kind of budget do you have allocated for marketing?
- Is this specified for digital marketing or direct mail or telemarketing?
- If so, do you have discretion to reallocate from one to subsidize the other?
- How do you need to report and track on the value and success of the campaign?
- Does it include a cost per acquisition type formula so you can tie in the spend?
- Do you have a plan?
- And if you do, are you ready, willing and able to be flexible and nimble with that plan when/if necessary?
So these are just some of the questions that you should ask yourself as your prepare your outbound campaign, but these above will give you a fair idea of what type of budget you need to achieve your goals for that time period.
But you should plan to be sure that you invest some dollar amount that give you at least a dedicated resource to execute on your campaign. Much less than this doesn’t always provide the economy of scale that you are in need of for success.
And the best part about all of this, is that you can adjust as you go if you find it necessary to do so. Especially if you are and am sure you will be, crushing you goals, so why not invest more?!