I had a recent debate on one of my social media networks on the effectiveness of cold calling. The truth is, he had his definitions tangled and didn’t have a clear grasp on what cold calling really is.
In this latest sales strategy, I want to – finally – end the back and forth about this topic and explain very clearly why cold calling is dead.
With such a low success rate, this archaic sales method needs to be ditched.
[bctt tweet=”Seriously. Stop wasting your time with cold calling.” username=”EngageColleen”]
Let me help you by providing tactical feedback on how to address your greatest business challenges and dramatically improve your results along the way. Learn more here.
Hi Colleen,
I’ve enjoyed many of your video posts here in the past and found them helpful but very surprised on your stance concerning cold calling.
I really don’t recognise your 0.3% return – maybe for a new recruit in their first few weeks on the job but for anyone who has been in selling for more than six months this just doesn’t happen.
Yes, Social Media is important but in addition to cold calling NOT instead of.
Cold calling success rates have been dropping for years, but please keep in mind how I am defining a cold call. Most seasoned sellers have success with outbound calling because they mix calls with other relationship and brand building techniques such a social media, networking etc. When they do this, the calls are not cold but warm. Prospecting and outbound calls are not dead, just the act of calling a random stranger, who has never heard of you, and without using any other relationship and brand building support.
Re: “Prospecting and outbound calls are not dead, just the act of calling a random stranger, who has never heard of you, and without using any other relationship and brand building support.”
My experience (in B2C) has proven that when bu idling a database of customers and potential customers, it’s actually more effective on the initial call if the prospect has not heard of your company. It’s counterintuitive. And it’s true.
In B2B our success rates of getting people into the top of the funnel (expressing interest in learning more about our services, making an appointment for a deeper needs analysis, etc.) is much greater than 0.3% at least 10 times that and good sales people/thinkers are upwards of 30 times that. I’m sure these stats are worse than they were years ago, but they still work. Many of our clients are not on social media in a business sense. They are doing stuff, getting work done, do not sit at a desk, do not use their phones for socialize on facebook, and certainly do not want to ‘engage’ with us on a personal social network.
Linked In might be great for some too, but typically our prospects are not at a desk, not spending time setting up profiles. they’re doing work. So we call them, and introduce ouselves, and sometimes they talk to us. They still use their phone for work, not as much as most for a personal/work mix.
If we were doing B2C I can see how call rates woudl be abismal, as no one wants to answer their phone. Do people even have home phones?
In conclusion, I would say the video is way off base. But thatnks for your opinion. Love you putting it out there, even if misguided.
All I would suggest is that you pay attention to the trends. If you notice the teams are becoming less effective over time then make changes. we notice the most dramatic changes not in B2C but in industries where the buyers are youngest.
All I suggest is that you pay attention to the trends over time. As buyers changes, you might find the approach less effective. When that starts to happen, you will need to modify or change your approaches. Don’t get stuck just using one approach. When you do, you run a greater risk of hitting a wall faster.