With all the effective sales strategies utilized by many businesses and institutions these days, it’s hard to separate which ones are more successful than the others. There have been changes because today’s buyers have also changed their purchasing approaches. The cold calling strategy, however, remains concurrent with the ever-growing business strategy innovations. Needless to say, it is still very much alive.
Business sellers should now view cold calls as a single aspect, which is a part of a more holistic approach to reach out to your audience. Cold calling is a viable alternative to other forms of marketing that will ensure your potential prospects. This cold calling for B2B is a “ready-to-go” method that allows you to find new leads.
What Is A Cold Call?
Although deemed one among many effective sales strategies, cold calling is an essential technique in a salesperson’s arsenal, theoretically speaking. A cold call is defined as cold literally, which means the call is made entirely out of the blue. Despite the prevalence of social selling, cold calling is distinctively different and has a unique characteristic on its own. But there is no denying that social media and online personal data resources are impacting the cold calling methods positively since sellers can already understand their prospects before the call.
Why Is Cold Calling Still A Profitable Sales Strategy?
Many prospects may not be receptive to your sales pitch. This scenario is not unfamiliar even for cold callers. Making a compelling cold call could be challenging simply because you may receive different kinds of responses from your prospect. There will be instances when they hang up, get mad, shout at you, and use profanity words in worst-case scenarios. Hence, due to these recurrences, some businesses try to shift to different marketing approaches.
However, like any other strategy, it comes with the good and bad. One can’t entirely bypass the sales opportunities that cold calls could provide, no matter how many or little they are. Many sales managers still insist that phone calls are favorable because it has led to many successful closed deals. It all boils down to the right technique and approach to cold calling.
Human interactions through a phone call can never beat that of cold emails or online prospecting. In summary, here are some reasons why conventional cold calling remains profitable for businesses:
- You can acquire immediate feedback during the call so it will not lead you on and waste your time in contacting a prospect who’s not worth pursuing.
- Emails are usually ignored, sent to spam, or filtered out, so this method’s efficacy is quite limited.
- Depending on your target market, some elderly and senior people still prefer telephone interactions compared to digital. Although some younger people like chatting and sending messages to and from, nothing compares to listening to others’ voices.
Why Is Cold Calling Important?
Cold calling remains relevant in modern businesses. It may not be the fastest way to generate sales conversions, but it still holds some sales success percentages. As a business, you should not turn a blind eye to anything that could end with a closed sale.
Some companies and industries have already entirely shifted to online platforms when communicating with their clients. Some obtain new clients through their inbound system and completely disregarded cold leads. They have been very proactive in developing their digital marketing strategies. Due to these changes, there are remaining and even increasing driving conversion possibilities through this reliable method. You may also integrate it with emails and other platforms to maximize and turn it into a cohesive system.
The rarity of getting telephone calls have been getting more apparent to some people, especially the elderly generation, so they often welcome person-to-person communication nowadays. Building trust and a genuine relationship appear to be quicker and more convenient when done over the phone, compared to emails. This is because you don’t need to worry about misinterpretation, and you can save time from exchanging emails that may last a longer time than phone calls.
Create Realistic Goals With Your Team
A cold call should not be regarded as a sure-closed deal. Sure, it leads towards a successful sale, but you should not focus on that intention alone. If you intend to have a better outcome, especially in the long run, treat your cold calling method as something more valuable than just landing a sale.
One thing to shift your attention to, instead of painstakingly dwelling on cold calls to derive sales, is to set realistic goals for your representatives. Aside from offering sales opportunities, cold calls are also useful in scheduling meetings and appointments. You can use it as a way to study and research your market for your products and services. You can also gauge the interest of clients from other businesses, industries, and demographics.
If you focus more on building relationships, this will be a sufficient foundation that will set up many future opportunities. You can expand your network and pool of prospects through referrals and word-of-mouth. By establishing trust, your prospect will introduce you to other prospects. This long-term way of building connections will generate a more positive experience for you and your team.
The important thing is to stay patient and persistent. It is known to work for many prospects as they realize your sincerity and appreciate your professionalism. It has been said that 80% of successful sales happen after the fifth contact, so make sure to never give up on reaching that point.
When representatives finish a call, it’s imperative to ring out some questions or provide suggestions that correspond to your company’s goals. You can plan out a second call, which could be more in-depth, to maintain the connection with the contact.
Get The Right Mix
Of course, your business should not solely depend on cold calling strategy. Yes, it’s still proven effective over the years of its existence. However, you will acquire a more positive outcome when it is part of the mix and other marketing elements such as email, social, and inbound marketing. You must know who to target and which prospects are more likely going to benefit from your offer.
Cold calling is an effective strategy for businesses that emphasize customer relationships and are willing to play the long game. As long as you get it right or hire the best cold callers, it should still derive valuable results that can be profitable to any business.