As a modern salesman or saleswoman, you may think of cold calling as an outdated strategy that no longer has a place in the modern digital business environment. This might prompt you to ask the question; does cold calling still work?
I mean, think about it!
Back when cold calling started, there wasn’t much in the way of emails, the internet, or mobile phones. Now, these things are normal in today’s world.
So is there still a place for cold calling? The simple answer is Yes!
Granted, the success rate with cold calling is just 1-3%, and you might be tempted to switch over to a more “up to date” marketing strategy with a higher success rate.
However, if you were to look at these numbers as a challenge and not as a hindrance, then there are still a few things you can improve with your cold calling strategy to increase your success rate.
Practice before calling
Just as with anything else, practice does make you better at cold calling. Before you can even make that first call, practice your lines and introduction in a few different scenarios.
This will help build your confidence that the person on the receiving end will pick up on.
If you are nervous, you may want to remind yourself that every call is a learning experience and that you’ll succeed.
You may even want to seek the help of a friend and practice talking to them.
Remember that the more confident you sound, the more competent you sound!
Avoid trying to close the deal fast
This might sound counterintuitive but never focus on closing the sale quickly during a cold call.
Considering the lower success rate of cold calling, you are more likely to have greater success by keeping the other person on the other side of the line engaged and wanting to hear more.
Simply put, the longer you can keep them engaged, the more likely the cold call could lead to a meeting.
But how do I keep the person I’m talking to engaged?
Doing your research
It might sound obvious that you should do research before cold calling. But there is no overemphasizing the importance of it.
Through research, you’ll find out key elements of your target audience. For instance, you will find out about their business, their pain points, and the solutions they are searching for.
When making your call, you can provide exactly what they are looking for.
Talking more than listening
That’s right! It is important to talk more than you listen when it comes to cold calling. In fact, according to data, salespeople who talk 45% to 55% more during their cold calls get the best results compared to those that talk 42%.
It sounds strange, doesn’t it, to think that you need to talk more?
After all, by listening to your prospect, you are better able to learn what makes them tick and what they are searching for?
Here’s the thing: cold calling is about convincing the prospect, which is mainly successful when the salesperson is talking more than the recipient.
Rejection is part of the game
No matter how good you get at cold calling, you are never going to close all your sales.
Rejection is very much a part of cold calling, and in fact, you will be rejected more times than you succeed.
Now that you are aware that you will not be discouraged whenever you face disappointments, as you know, eventually, those rejections will turn into sales.
Does cold calling still work? Absolutely. It can be a huge addition to your overall marketing strategy.
Using the tips above, you can improve your closing rates and boost your business revenue.
Just be sure to remember that rejection is a part of cold calling and never let it discourage you.