In this B2B ecosystem, people kept saying that:
Cold calling is dead,
Cold calling is worthless,
Cold calling annoys customers.
When we say, “cold calling”, you might hear these phrases but on the contrary, cold calling is very much alive. In a world where working remotely has become a norm, many b2b businesses are still relying on this to drive sales.
“When people know that you care about and anticipate their needs, they’ll reward you with their wallets.” – Neil Patel
While advanced technologies like call forwarding, call blocking software have made the process of cold calling very challenging. Whether it is multinational companies or startups, their sales reps endlessly call numbers all day either by handling their objections or waiting to get to the decision-maker you need.
But if you want to make a tremendous impact with your sales calling campaign, read on to learn more about cold calling, the benefits of cold calling, and why you should consider cold calling to increase sales and ROI.
Know About Cold Calling, Is it Still dead?
In sales, cold calling is an essential part of B2B businesses. Cold Calling is a technique in which salespeople reach out to prospects who haven’t shown interest in their product or service. It is a process of trying to call individuals who haven’t been in any relationship prior with sales professionals.
No doubt, cold calling sounds critical but if done correctly, it can help improve your B2B sales. That doesn’t mean that cold calling is a one-time game, you must have strong interpersonal selling skills to initiate a sale and turn your prospect into a customer. In fact, 82% of buyers accept meetings with sellers who proactively reach out.
See how Travis Kalanick, Founder of Uber implemented his cold calling approach to find his first customers, he quoted,
“I went to Google, typed in a San Francisco chauffeur or San Francisco limousine, I just filled out an excel sheet, and I just started dialing for dollars, right? The first ten guys I called, three of them hung up before I got a few words out, a few of them would listen for like 45 seconds and then hung up, and three of them said ‘I’m interested, let’s meet.’ And if you’re cold calling and three out of ten say ‘let’s meet’, you’ve got something.”
Why is Cold Calling more effective for B2B Businesses?
“Cold calling” in the sales division, is an art and one of the cost-effective techniques for B2B businesses to reach customers. In fact, 57% of sales professionals are making more phone calls.
Being an essential component of your sales cycle, cold calling requires patience and mastery to succeed. And if you’re not utilizing it properly, you’ll likely lose your conversion rates.
Success is the sum of small efforts- repeated day in and day out – Robert Collier
Many companies think of cold calling as a useless way and avoid using it. However, for many B2B businesses, cold calling is still worthwhile and has worked for their sales success.
Let’s take a look at some proven cold calling statistics:
- 69% of shoppers have accepted a cold call from sales representatives over the past year. (Rain Group)
- 18% of high-quality leads are generated through outbound practices such as cold calling. (HubSpot)
- 93% of the potential success of your cold call is attributed to the tone of your voice during the conversation. (Close, 2021)
- Cold calling data shows that you can increase the likelihood of converting a prospect by almost 400% if you contact them within the minute they were tagged as a lead. (Velocify)
- 74% of reps say they research prospects before making sales calls. (HubSpot)
- The first 50 minutes after a lead shows interest in your product is the best time to make a cold call. This statistic is particularly useful if you’re monitoring web log-ins. (CallHippo)
Here are some of the benefits of cold calling for B2B businesses:
- It helps you to recognize which and what type of audience you should be targeting. That’s why you need to do research about their concerns and understand their needs.
- It helps to gain insight on what works and what doesn’t so that you can correct the issues.
- As we said earlier, you require mastery to succeed in cold calling. You need to be well trained to master the art of cold calling.
- Don’t be a robot, instead, add the human side to your sales strategy. This may build trust and enable human connection in order to make your brand look more genuine and professional.
- Make the first impression look advantageous to your prospects.
So let’s get started with the effective cold calling tips and techniques that can boost your sales success rate.
Cold Calling – Tips & Techniques
#1 Define your Prospects
Before you connect with a prospect, you must begin with a deep-down researching your customers and their needs. Dig deep and understand what challenges they’re facing, and think if you can actually help them. Understanding your prospect’s problems, you need to determine whether your product is a good fit to solve it.
Once you get what the prospects are looking for, develop a strong list defining your target audience to make sure that your calling efforts don’t go worthless. You might benefit from tools like Linkedin Sales Navigator, SLN Solutions to find target prospects. In fact, as per the Linkedin report, 74% of sales professionals see LinkedIn deliver unique prospects data.
#2 Connect with Decision Makers
Don’t let your sales pitch fall on the wrong ears, that won’t help you in any way. It’s time to be smart and identify to whom or what product benefits. Don’t waste your time prospecting on those who have no purchasing powers.
Be it an employee, HR, team leader, you need to identify the right person for which your product/service has been made. All you need is just the right tools. So, start finding prospects who actually make buying decisions. 84% of CEOs and VPs say they use social media to help make purchasing decisions.
#3 Choose the Right Time to Call
There’s no right time to call your prospects individually either if they’re busy at work, with family, or relaxing at home. Honestly, they’re not even interested to hear your sales pitch. In fact, 76% of salespeople say that engaging at the right time has an extreme/substantial impact on conversion rates.
For salespeople, the right timing is everything. It is important to find out the time your prospects are likely to pay attention to your pitch. However, many B2B workers prefer to contact them during lunchtime but they won’t be at their table. Then, when to call them?
We’ve got you covered in this. Freshworks has put together a list of timing to cold call prospects based on regions.
#4 Perfecting your Sales Pitch
If you’re just picking up the phone and reading your pitch like a robot, you’re doing it wrong. You could be saying the right pitch, but if you have a selling tone then you’re not going to make a sale. It’s okay if you’re new to sales and nervous about making calls, as you would require time to be perfect.
First, you need to prepare a pitch including a short description of you, your products, and your company. Your tone must sound confident and genuine to prospects as your ultimate aim is to “earn their valuable time” not “convincing them to purchase”. In fact, 93% of the potential success of your cold call is attributed to the tone of your voice during the conversation. (Close, 2021)
Have a look at how you can optimize your B2B sales process by knowing these eight sales metrics and KPIs.
#5 Lead the call
Don’t immediately start with your sales pitch on-call rather ask open-ended questions (that require simply “yes” or “no”) to a prospect. Get to know them better and identify their pain points and issues. Demonstrate your product or service with an example and try to communicate how it could be useful for them.
Ensure that the prospect should do more talking and the salesperson should talk less. Because it clearly indicates to you that the prospect finds it helpful and feels interested in buying your product. In fact, Of buyers who accept sales calls, 75% reported interest in the product as the most important reason. ~ rainsalestraining
#6 Follow up
It’s obvious that many prospects, despite showing interest in your product, might get bored of long conversations over the phone. They often use to hang up the call but still, chances are there for you. If you think that you’ve addressed all their pain points, send the prospect a quick email immediately by keeping your introduction brief.
Your prospect might have some more issues or queries about your product/ service, by asking, “I appreciate you took some time to talk over the phone. But by the time, if you’ve any queries or questions about (your product/service name), we would love to assist you. Have you got 5 – 10 minutes free later this week?”
In fact, after reaching a prospect, salespersons need to make an average of five successful follow-up calls to close a deal.
However, instead of summarizing about your company, come up with the questions that your prospect would like to ask. This way can help you to leave a positive impression and will likely have more chances to make them buy from you.
#7 Leverage social media
As a B2B salesperson, you need to work smartly and leverage the use of the right technology. Due to the changing nature of communication, many people are engaging with prospects using social media platforms like LinkedIn.
According to Super Office, the research also found that sales reps who use social selling find on average 45% more opportunities.
You can consider joining groups on Facebook, search prospects using industry filters, following industry leaders on Twitter, and connecting with LinkedIn people to start a conversation. Also, before you make a call consider doing a quick research about them over social media.
#8 Get rid of distractions during cold calls
Don’t let the enemy come close to you, yes, that is a distraction. Avoid it as much as you can and at all costs. Calling for hours day in and out, sitting at a desk can turn you mad and frustrated. Not only this, this could be your messy desk or anything that could distract your mind while taking a call. This would definitely give you a fruitless effort.
Therefore, it’s essential to take short breaks between cold calls to freshen up your mind. Your first impression would be the last impression on your prospect. You only have a few seconds to change the mind of your prospect.
So, we’ve explained the best eight cold calling tips and techniques that really work. As we’ve mentioned above, cold calling is an art, and if you learned that art then you’re likely to add valuable B2B marketing returns.
A lot of people say cold calling sounds tough but in actuality, if you follow these best practices of cold calling in a good manner you can easily move your prospects into a sales pipeline. We’re guaranteed that you’ll do better in B2B cold calling.
If you want to make your calls successful, think of solving your prospect’s business challenges more. Stop selling on cold calling.
If you’d more resources on B2B sales check out our blog on effective B2B sales techniques to close more deals and get potential prospects in the best way possible.