"Cold calling is one of the strategies that you can use to get closer to your customers and prospects."
Cold calling is a sales technique that involves contacting potential customers without an existing relationship. For many sales professionals, the term "cold calling" evokes a sense of trepidation. Even those with excellent interpersonal skills may find this traditional approach daunting, conjuring up images of rejection, burnout, and failure. However, is this perception accurate? Despite the prevalence of digital marketing and emotionally-based selling, cold calling remains a crucial tactic in the business world.
In this section, we will take you through the ins and outs of cold calling and how to customize it to fit your needs in today's market.
The Definition of Cold Calling
Cold calling is a sales strategy that involves contacting potential customers who have not previously engaged with the salesperson. It typically encompasses phone-based conversations, but it can also include direct door-to-door interactions.
Indeed, the majority of businesses that utilize cold calling today have diverged from its original definition. In light of the increasing prevalence of fraudulent phone numbers, it has become more prevalent for companies to employ warm calling, or calling from a list of potential customers gathered through lead generation.
This does not indicate that the prospect is expecting a call, but it does suggest that the caller should conduct further research, establish a prior connection (via referral, LinkedIn, etc.), and anticipate a longer hold time. This prompts the question: Is cold calling ineffective? Our view is that it is not, provided the approach is appropriate.
Read More: Tips Bahasa Persuasif yang Harus Anda Gunakan saat Cold Calling
Cold Calling Techniques
A talented cold caller will eventually develop their own style, but we recommend the following techniques as a starting point:
#1 Never Stop
In the sales industry, it is not uncommon to face rejection. This is an inherent part of the process. It is important to accept this fact and move forward with a positive mindset. It is inevitable that not every person or business will want your product, and there are a multitude of reasons why. Many salespeople focus their efforts on identifying the most promising prospect on their list, driven by a determination to secure a win.
While this approach is effective for larger sales, it may not be feasible for every business. If you're not inclined to make the initial contact, it's essential to reach out to every prospect. This may result in a higher rejection rate, but it also increases the likelihood of securing a positive outcome. When you're enthusiastic about sales, leveraging a CRM to streamline your calls can be beneficial.
#2 Consistent
In today's market, customers are more informed and have more options, which means they are taking more time to make decisions. The likelihood of converting a lead on the first call is low, which is to be expected. Rather than focusing on the immediate sale, it is more beneficial to move the lead to the next stage of the pipeline. If you can set up an appointment or follow up from the initial cold call, you have succeeded.
#3 Practice
With some experience, you will be able to ascertain quickly whether a potential client is interested and worth pursuing. If you become aware that a conversation is not going anywhere, it is advisable to bring it to a close. Attempting to engage with prospects who are unlikely to become clients is not only a waste of their time but also a waste of yours. It also has a negative impact on your morale. While it is acceptable to explore a variety of options, it is important to recognise when a particular avenue is not viable and to move on.
#4 Improvisation
Your script is designed to serve a specific purpose, but it is not intended to be universally applicable. Each prospect has unique characteristics and responds to different levels of energy, vocabulary, and directness. One prospect may be highly communicative and inquire extensively, while another may have limited time and require concise information. Both are potential customers with distinct needs, and it is essential to adapt your sales approach to maintain their engagement.
Cold Calling Strategy
Let us now examine some strategies that can be employed in any cold calling scenario, regardless of one's approach.
#1 Research
While a complete profile of the client is not necessary, it is important to be aware of certain key details. Identify potential prospects on social media and review internal correspondence to ascertain whether they have engaged with your company. If you require further information, research similar prospects and their challenges. The objective is to enter the discussion with a solution that is not directly related to your product.
#2 Follow-up
Research findings indicate that 80 percent of sales occur after the fifth contact attempt. Even if the prospect does not register or accept the meeting invitation, it is advisable to send a follow-up email to ensure that the opportunity for further discussion is not missed. There is always the possibility of a positive outcome.
#3 Tracking
Who do you call? When did you call them? Did they pick up? Did you leave a message? Did you send a follow-up email? Did any tangible results happen after the call or email? Those metrics will keep you organized and on track. It makes no sense to try to remember these details for hundreds of leads, so write them down. Better yet, enter them into a CRM.
Summary
Cold calling is an effective strategy for companies seeking to make aggressive and dynamic moves. It can also boost engagement. BPO Command from Ivosights is a valuable tool for this purpose. The BPO Command Center from Ivosights allows for even more effective cold calling.
