Cold Calling Works

The latest data is in ... cold calling is the second most effective lead generation technique behind referrals according to a survey of 731 professionals conducted by Michael Schultz of Rain Today.

Dubbed "old fashioned, unloved yet effective" by MarketingSherpa and reported by B2B Magazine the oldest and most despised sales tactic, when used properly, is a remarkably effective tool to open up a sales conversation.

Yet the key lies in how cold calling is done. Jill Konrath dismisses the "hit the phones" injunction as "pure bologna" arguing that in a complex B2B selling environment "making 100 quick calls can only lead to greater discouragement since you are virtually guaranteed to fail.

According to the survey, critical steps in planning cold call campaigns are:

1. Know something about the prospects. Say things that are current and relevant to prospects. Tailor the spiel to account for who you are talking to.

2. Make an offer. Don't just prattle on about who you are and what you do. Instead make a relevant offer that speaks directly to some pain the prospect faces. Prospects want the results even if they're not sure they want you or your service. The offer bridges that gap and conncts you to their challenges.

3. Link the call with other tactics. Preview the call with a postcard or an e-mail. Follow-up with a white paper or other interesting information in PDF or PPT formats. Place the cold call in the context of an on-going communication stream from your organization to theirs.

4. Remember that the call opens the conversation it does NOT close it. Cold calling sets up a meeting to listen, gather information and introduce yourself and your services. It does not cram every sales argument into 90 seconds nor does it even attempt to close a sale.

The results, say the survey respondents can be impressive. Cold calls "act like a newsletter but get to an audience blocked by spam filters" and for some "75 percent of more than 250 meetings" were generated by cold calls.

But the absolutely critical variable is the voice on the phone. You need a high quality individual who knows the business, can listen carefully and respond intelligently dynamically. If all you have is a robot reading a script, you're dead.   

Comments

[Mary]

I have found that cold calling is most effective if done at the beginning of the month...you would be surprised how unfriendly people are at the end of the month when they are more aware of their budget vs. actual results

[Jim Logan]

I think item #3 is something that's too often overlooked - using the call as a follow-up to a direct mail campaign. It's especially effective when you state in the direct mail piece that you'll be calling to follow-up.

Integrating the call within a larger campaign is a great idea and one I've used with clients to successfully sell in complex B2B environments.

[Alan Green]

Instead of Cold Calling all of your potential customers (impossible), just be very effective and call only on those companies who have visited your website.
Use a company revealing website visitor service like www.leadsexplorer.com
Should save time and efoort and take away the fear of being rejected: the company you call is already interested.

[Idetrorce]

very interesting, but I don't agree with you
Idetrorce

[mark]

Cold calling has negative connotations among the small business community, especially as why-are-they-calling-me-at-dinner-time-to-sell-me-long-distance-services-that-save-me-$1-a-month telemarketing puts a bad taste in people’s mouths. But cold calls are actually a very positive way for companies to generate new business.Let’s address several of the myths of cold calling, and explore some of the ways you can successfully implement this technique. Cold calling is important for every business --large or small!
When Cold Calling is Important
Three areas of business where cold calling is important are:
1. generating new business
2. instant market research
3. developing business partnerships
Business-to-business cold calling is a necessary and standard part of the business world. Don’t think of cold calling as picking up the phone and blindly dialing the next person on a call list, but as a strategic part of business development.
Generating New Business
Who doesn’t want to generate new business? Nobody that I know! Use cold calling to your advantage. How about that big account you always wanted? Go get it! Do your research and pick up the phone to make something happen. Find the right contact person and do whatever it takes. Get in front of the decision maker, and prove you’re the best company for the job.
Instant Market Research
Don’t know if there’s room for another company to specialize in localizing English language Websites to Spanish speaking markets? Call some local companies and ask. Call across town to a factory that produces dog food and see what the firm’s business strategy is for Latin America. Cold calling gets people on the phone answering questions. You’ll be surprised at how much information you can learn in a short phone conversation.
Developing Business Partnerships
If your firm is strong at Web design and Internet strategy, and the firm down the street has an experienced background in print and old media marketing, develop a partnership.
Partnerships are a great way to team up and provide best-of-breed services to clients. They provide an opportunity for introduction to new clients and expand your company reach without costing you a dime. Isn’t it time you picked up the phone and introduced yourself to that complimentary firm in your town? It isn’t cold calling -- it’s the first step towards a mutually beneficial business partnership.
Cold Calling Myths Debunked
Cold calling conjures up images of warehouses full of people wearing phone headsets racing to see how many calls they can make in an hour. The typical “boiler room” scene where a high pressure salesman swindles some unsuspecting prospect isn’t how most cold calls are made. Let’s look at the reality behind the two most common cold calling myths.
Cold Calling Isn’t For Me
Yes it is! Just because you’re the owner/manager/designer/artist doesn’t mean cold calling isn’t for you. As long as you are a partner in a company, you’re likely responsible for:
• new business generation,
• market research, and
• business partnership development
-- The three mainstays of a living, growing business. These tasks need to be completed, and you’re the expert who should do them. Get past your fears of rejection and make the call!
Cold Calling is Only for Businesses that Target Consumers
Not true! Cold calling is how business gets done. I bet every company that has continued to grow over the recent economic slowdown has a team of dedicated cold callers working on inside sales and new business development. Not because they need to pay their bills, but because they want to grow and expand their businesses.
Just as relationships and current customers keep a business running, cold calls keep a business growing. Hire a pay for prformance call center
http://telehammers.com