Please, not cold calling. We hate it. Cold calling is frustrating and scary. No one will talk to you. Those that will talk are known to change their minds and ghost you, instead of following through with what they promised. Cold calling is a tummy ache.
But nevertheless, selling is always part of the program for start-up founders, business owners and Freelance consultants and that means you can’t avoid cold calling. Every so often you have to hunt down some business because when the ship you hoped would come is not on the horizon, cold calling is the most reliable way to generate revenue. Moreover, cold calling is much less expensive and time-consuming than dressing up and going to a networking event, hoping to meet your Next Big Client.
Life is about managing expectations and I’m happy to share in this post the real deal about cold calling. My purpose is to make your cold-calling campaigns more profitable and less frustrating. The data presented is based on 3,025 B2B cold calls made in one month, from a prospect list of 600.
- You’ll make an average of 17 calls before reaching a live person. 50% of calls go to voice mail; don’t bother to leave a message, it will not be returned.
- 3,025 calls resulted in 178 conversations (6%) and led to 18 follow-up meetings (10% of conversations).
- Develop a high-quality prospect list that provides the names and contact info of senior executives. CEOs, VPs and Directors are more likely to answer the phone and they can approve the funding of a sale or project.
- Prepare a script for the call to remind yourself of selling points, how to handle anticipated objections, pricing, or whatever else you need to remember (you don’t have to read from it).
- Present an unambiguous and simply stated purpose for making the call. Your product or service must be able to solve a problem for the prospect, or make/save the company money.
- Smile when you get someone on the telephone. Your smile will give you confidence and that confidence will be reflected in your voice and ensure that you project a positive attitude.
- Be (reasonably) enthusiastic, persistent and polite when you speak with your prospect. Don’t talk too fast. Relax.
- Ask for a meeting; you are more likely to close a sale in person.
- Don’t call during lunch time (11:45 AM – 1:30 PM); otherwise, the time of day doesn’t seem to matter.
- Call on minor holidays. Martin Luther King Day, President’s Day, Columbus Day and Veteran’s Day can find senior executives in the office for part of the day, to catch up on work while distractions are few.
Thanks for reading,
Photograph: Tony Curtis in Sweet Smell of Success (1957)