Cold calling is dead. That’s what they say, and it’s easy to see why. Everybody’s busy, and nobody likes to be interrupted by strangers selling stuff. If customers need something, they just order it online. Contacting strangers and convincing them to buy a product seems like an inefficient way to seal the deal.
And it is. Vanishingly few prospecting calls result in conversion - that is, an agreement to attend a local product seminar, to look for a brochure in the mail, to take a survey, or to accept a second call from the sales representative.
But reports of the death of cold calls have been greatly exaggerated. Cold calling statistics show that this practice plays a strategic role in the success of top-rated sales reps.strategy.
Cold calling is old-fashioned but it remains an essential part of the selling process, where it transforms strangers into prospects. CEOs and other top executives say they prefer phone calls to email and other media, especially in the early stages of planning a project. Knowledgeable sales reps can provide data that helps executives be more successful.
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A good marketing strategy still has its foundation in cold call techniques, and B2B cold calling is where sales calls start. Cold calling statistics reveal that cold calling marketing programs are as effective as ever. Some executives say they count on calls from sales representatives in the earliest stages of project planning because reps talk to lots of customers and have seen how they solve problems or develop new ideas.
Many sales representatives say cold calls are the hardest part of the job. Calling prospects is stressful for inexperienced sellers, especially considering that they need to make an average of 18 calls to reach a prospect and a series of six successful phone sales calls more to conclude a sale.
Even though research shows that executives and CEOs sometimes welcome calls from sales reps, in most cases they avoid these calls.
Prospects say sales representatives seem pushy and annoying. Reps waste the prospect’s time with overly long meetings, they aren't well prepared to answer questions, and they sound too rehearsed.
Sales reps need to keep up with customers. They need to know what time to call, on which days, and how many follow-up calls to make.
Customers aren’t always sitting by the phone. They are on Facebook, Instagram, and LinkedIn. Social media is a way to reach new leads and target them based on their interests. Buyers expect and deserve more than a rote sales pitch with no personalization or research.
The best reps study how to make cold calls less objectionable, how to connect with prospects, and the best time to cold call particular prospects.
(Social Centered Selling)
(A Sales Guy)
Cold emails work; that's a fact. But they need to be created properly and sent at the right time. Thousands of cold emails are sent every day, but most wind up unread in prospects’ spam folders. Only a few generate cold calling leads and increase sales. The secret with cold calling email correspondence is that you must be persistent. Follow-up emails increase chances that buyers will answer and even buy a product or service.
A reasonable cold call success rate is 1-2%, according to sales statistics on cold calling. This might lead to the conclusion that cold calling is dead, but the truth is that this technique is still valid in an overall marketing strategy.
The best time to call customers is 10-11 a.m.. At this time of the day, there is a 16% chance that your prospect will answer. The next best time to call people is 2 p.m., at 15%.
On average, sales representatives need to make five or six phone calls to have a successful cold call conversion rate. Also, it takes an average of 18 attempts before agents reach a lead who is willing to talk.
The best day to call prospects is Wednesday. On Wednesday you have 46% more likelihood of connecting with a prospect than on Monday. The reason? Monday is the busiest day of the week. On Mondays, companies make schedules and organize tasks for the week. Executives, CEOs, and managers with buying authority don't have time to talk with sales reps. People slow down on Friday and shift their thoughts to the weekend. So it is the middle of the work week - Tuesday, Wednesday, and Thursday - that are the best days to cold call.
Yes, cold calling really works, according to cold calling statistics. Buyers find some cold calls a useful part of the research process for new projects. And cold calls are one of the few proven ways to increase the selling company’s prospect base.
Danica’s greatest passion is writing. From small businesses, tech, and digital marketing, to academic folklore analysis, movie reviews, and anthropology — she’s done it all. A literature major with a passion for business, software, and fun new gadgets, she has turned her writing craft into a profitable blogging business. When she’s not writing for SmallBizGenius, Danica enjoys hiking, trying to perfect her burger-making skills, and dreaming about vacations in Greece.
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