In today's fast-paced digital world, where we're constantly flooded with emails, social media messages, and instant chats, it might seem like cold calling is a relic of the past.
Cold calling has been the subject of numerous misconceptions and myths over the years. Who else has heard the phrase "Cold calling is dead"? I wouldn't be surprised if you've come across it on LinkedIn a few times. When you think of cold calling, you may imagine high-pressure sales tactics, as often depicted in movies like "The Wolf of Wall Street" or boiler room environments selling everything from speculative investments to dubious products. While there are definitely some questionable groups that embody that type of environment, for everyone else looking to genuinely pitch their product or service to help, the phone is still a great tool to add to your sales process and for reaching that prospect and starting the foundation of that new relationship.
With all the "cold calling is dead" outcry, does cold calling not work? Or is your sales team just too scared to pick up the phone? We're here to tell you that the death of cold calls has been greatly exaggerated. Cold calling statistics show that this practice plays a strategic role in the success of top-rated sales reps. Dialer reluctance is a common occurrence for most modern teams, but there's no denying that picking up the phone is still one of the best ways to get in front of that decision maker.
did you know…
✅ 82% of buyers accept meetings with sellers who reach out over the phone. (Source: RAIN Group)
✅69% of buyers have accepted phone calls from new providers in the last 12 months. (Source: RAIN Group) ✅71% of buyers want to hear from a salesperson early in the buying process — when the buyer is looking for new ideas and opportunities to improve their business. (Source: RAIN Group)
✅ Organizations that don't incorporate cold calling in their outreach see 42% less growth. (Source: Crunchbase)
✅ 55% of high-growing companies utilize cold calling as one of their main strategies. (Chorus, 2019)
✅ It takes an average of 8 call attempts to reach a prospect. (The Brevet Group, 2020)
✅ 57% of C-level executives and VPs say they would rather hear from sales reps via the phone than any other channel. (Source: RAIN Group)
Now, is it the only tool you need? Absolutely not. There is no magic silver bullet, but I highly recommend incorporating the phone to optimize your outbound process if not already. It's a valuable tool, whether you're a startup or a well-established company, looking to connect with potential clients and grow your customer base.
Here are some Quick Tips for Better Cold Calling:
Plan Your Approach: Never "pray and spray." Just as Peyton Manning wouldn't face the Patriots without preparation, neither should you. The night before, lay out your prospect list, have the contact data ready to go, and isolate yourself where you won't get distracted. Block off an hour as your "power hour," and don't pick up that phone. Over 50% of B2B decision makers believe that cold calls from representatives are unprepared. (Source: LinkedIn) - Be the one to stand out!
Let Go of the Outcome: Instead of fixating on booking a meeting, focus on the process of each call. Concentrate on delivering your pitch effectively, listening to the prospect's needs, and providing solutions. Let go of the fear of rejection and concentrate on the value you can offer.
Tonality is BIG: The way you speak during a cold call can make a significant difference. Maintain a confident, friendly, and enthusiastic tone. Your tonality should convey genuine interest and empathy. Avoid sounding scripted or robotic, and aim for a conversational and natural tone. The tone of your voice determines 93% of whether your cold call will succeed. (Source: Close)
Use Trigger Events to Get Your Foot in the Door: Develop an understanding of when to call. If a customer has already closed a contract with another provider, they won't bite. Therefore, look out for their new executive hires, large contract winnings, and funding, as this could indicate they're looking for someone.
Let them talk: People love to chat about themselves because, let's face it, who doesn't? And the last thing they want is someone just talking at them like a waterfall of words. So, the trick is to ask the right questions and let them do the talking. And if they pause for breath, ask them to elaborate or dive deeper into what's on their mind. You'd be surprised how much prospects are willing to share when you give them the floor. The secret sauce? Let them steer the conversation!
While cold calling has evolved over time, it remains a powerful tool for sales professionals when executed with precision and finesse. Embrace the art of research and preparation, create engaging scripts, and approach every call with a positive, customer-centric mindset. While confidence is key, remember that cold calling is more about listening than talking. Remember, it's not just about just booking a meeting; it's an opportunity to understand your prospects better and position your offerings as valuable solutions to their needs. Embrace the process, adapt to feedback, and watch your cold calling efforts pave the way for business growth and success. Happy dialing!
