Discover cold calling's impact on your sales
In 2024 where there are an abundance of ways to contact decision makers, many people think the art of cold calling is dead. Data privacy laws are becoming more stringent on unsolicited calls and people are now less likely than ever to answer a call from an unknown number.
However, this doesn’t mean that cold calling is dead. You can still see great returns from telemarketing and phone conversations – you just need to target your efforts correctly.
Why is cold calling effective?
Cold calling is a great technique now many businesses work with hybrid models. You can contact people, no matter where they are.
The main advantage to cold calling is the direct real-time conversation you have with a lead. It makes it easier to gauge their reactions and doubts in real time, meaning you can answer any questions or doubts before they develop.
Even if the call doesn’t result in a warm lead, you’re still raising awareness of your brand that will help build future relationships. Just because someone isn’t interested in your product or service now, doesn’t mean they won’t be further down the line.
It’s also important to note that research has shown high-level executives still prefer to be contacted via the phone. Although technology is moving on, many of the people at businesses you’re trying to target will still prefer to stick to old-school methods.
49% of buyers prefer to be reached over the phone
Referrals tend to be 24% more profitable than other customers (factor this in when deciding your strategy!)
57% of high level executives list cold calling as their preferred methods of being contacted
- To succeed, you need to ideally be making 50-60 calls per day
How do I succeed when cold calling?
Prepare well
Cold-callers are renowned for following a generic script, and it doesn’t take long for a caller to realise you’re trying to sell them something.
To increase the chances of a productive conversation, take a minute to research the company you’re about to call. Personalise your call to assure the person you’re calling you know why your product/service would fit their needs.
Ask questions
No one likes to be talked at. Encourage a two-way conversation and actively listen to the answers your lead is giving you. Asking more questions and listening to the answers will tell you a lot about what they’re searching for and how you can leverage this to secure a sale.
Allow objections
On average it takes 8 attempts at a cold call for someone to pick up. People are busy and don’t always live on their phones – don’t give up after one answerphone message.
However, cold calling is a numbers game. Many people aren’t going to be interesting in your product or service – you need to learn when to persevere, and when to accept defeat.
When it comes to outsourcing cold calling, it can be difficult to know which agency is best for your business. Make sure to consider the company’s previous experience in your industry and their track record.
At EQL, we’ve helped businesses just like yours to accelerate business growth. Our process involves two phases – consulting and execution – to help bring your business goals closer within your reach.
Frequently Asked Questions about cold calling
Cold calling is a sales technique where you’re calling a lead who has not expressed prior interest in your product/service.
Despite what many people are saying, cold calling is still an effective way of contacting leads. It gives you direct contact and an opportunity to set up further calls.
Cold calling can be a difficult technique to master, and perseverance is key.
Prepare for your calls so the leads feel personally addressed and be ready to tackle objection without being pushy.
Yes you can! Outsourcing cold calling can be a great option. It’s more cost effective than recruiting and training staff, and you will have a team of trained experts on your side.
Conducting thorough research is essential when selecting the right sales outsourcing partner. Review case studies and testimonials to gain insight into their company culture.
