Does Cold Calling Still Work?
Today, several marketing pundits believe that cold calling is archaic, intrusive, and ineffective. This is because the process of cold calling involves contacting prospects without their permission, with the hope that they would take out time to listen to the sales pitch.
Individuals are generally considered to not have the time to attend cold calls and respond with an appropriate time for future conversations. But is cold calling really all that dead? Does it deserve this kind of negative light? Has it become completely ineffective?
B2B marketing expert, Jessica Magoch, suggests cold calling to be increasingly effective as long as it is done correctly – that is in a planned, personalized, and friendly manner.
Cold Calling Tips and Techniques
If you want your cold calling efforts to be effective, you need to have a defined framework. Carefully plan out the ‘who’ and ‘when’ of your approach and understand ‘how’ you can increase the chances of success. Follow up calls also need a strategy that you must devise in advance.
1. Know when it is the right time to call
Usually, the people you wish to target have a busy schedule and might not always be available to take your call. They are the decision-makers in various fields and have too much to wrap up in a single day.
They would not have the time to answer calls from unknown numbers. If these are your targets and you are trying to reach out to them, call early morning or late evening.
When it comes to the best days to call, avoid Mondays and Fridays. On Mondays, people are settling in to start their hectic week, while on Fridays, they are all ready to wind up for the weekend. They are settled by mid-week and that’s when they will not see your call as a distraction.
2. Prepare a schedule
After you know when it is the right time to call, identify a minimum number of calls that you will make per week. Schedule a time slot to make these calls so that you have a pattern.
3. Target the right person
Salespeople perceive their job to be all about numbers and quantity but your conversions increase if you talk to the right people. Make sure you talk to someone who will benefit from your solution, who is interested in your offering, and who has the buying power. It is recommended that you spend some time in research on the person you’re going to talk to before dialing their number.
4. Prepare. Prepare
To be successful in sales, you need to sell solutions to the target market. This strategy applies to cold calling as well. Understand the problems of your prospect and prepare a sales pitch that positions your product as solutions.
Your product must appeal to them. Prepare a script if you think that’s what you need to have a clear and concise conversation. The prospect must feel that there is a purpose behind your call and there’s a vision that they need to look at.
5. Follow up
Sales need persistence. You cannot expect to crack a deal in the first, second or even third call. Remember to follow up. You may not be able to get an appointment with some of the prospects but you can definitely get a referral that works like wonders for you.
Cold calling, as an activity, is such that you can never have a 100% success rate. But if you are consistently getting a ‘no’, evaluate your strategy to understand where there’s a scope for improvement.
7. Data Tracking
Metrics are important for any sales process. Keep a tab on the conversion funnel to understand how well you are performing.
If you know the tricks, you can make cold calling fruitful
It is important to think about your cold calling approach and prepare well for an effective outcome. The number of times you hear a no might still be more than yes, however, chances of conversions and deal closures do exist. This is particularly higher if you use social media to research about the prospect and plan your conversation before making the call.