As ironic as it sounds, cold calling is all about making the prospect warmer towards your product or service. In fact, it is pretty much the best tool an SDR has in their armoury to learn about the potential of the customer and whether they are interested in the offered prospect. Though before we get into the dynamics, let's agree on one thing - cold calling is not dead. It remains today, an integral touchpoint in the whole sales process. Of course, like everything else, the strategies have changed a little. Today's buyers have just changed their buying style. But let's dive deeper to understand why cold calling still works.
Cold calling is a gateway, but it is not the ideal way to access decision-makers. As per research by LinkedIn- 2% of cold calling results in an appointment. While on the other hand, research by Baylor University suggests that for every 209 calls, only one meeting was set.
Even so, human interactions over online ones always take precedence. There are many different ways of dipping feet into the water. Cold emails are much faster compared to calls. But, experts still recommend honing one's technique and leveraging the power of cold calls.
Based on the insights given by Deb Calvert, President, People First Productivity Solutions- cold calling is pretty much alive. But, in a nutshell- the practices need to change as they make selling relatively ineffective.
She further added that cold calling could work for everybody, but many companies skimp on training the sales representatives right. She also gave great advice to representatives. Segregate your products based on their needs. In case you need the decision maker, it makes sense to target them. However, for c-suite products- you don't need to aim that high. Also, try to understand if the outcome aligns well with the vision of the company or not.
Another expert, Jake Dunlap, Founder & CEO of Skaled Consulting- has some more light to shed on the project. He says that you need to reinvent the wheel. If your industry peers can ace cold calling, you should be getting the results too. Additionally, get an insight into whether the people you call have availability or not. For instance, roles like HR, Legal or Finance are near their desk phones. So, see if you can get on a call with such executives.
Some of the top mistakes that executives make while cold calling include:
Here is what you should be doing instead!
We hope this has shed some light on the undying art of making efficient cold calls and convinced you that they're still right at the top in the sales world.
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