Dare you?
It’s a skill to master, but if you learn to cold call well, you could open some otherwise closed doors in B2B sales.
Statistically, it’s not the easiest way in – Cognism’s 2024 State of Cold Calling Report put the average cold calling “success rate” at just under 5%. But the same report also noted that the success rate has increased: It’s still hard, but it’s easier than it was a decade ago!
Cold calling is a weapon in your outreach arsenal. Whether alone, or in conjunction with other outreach methods, using it effectively could keep you one step ahead of your competitors.
So out, it’s back in?
We’re constantly bombarded by the written word digitally. There can be something refreshingly “old-school” about the human voice, and someone gutsy enough to give it a go might engender respect. Particularly if they do it well.
Your tone can build trust in a way that’s trickier to convey in text alone. You can hear a smile – so put it on before you dial and don’t let it slip!
If you get through to a decision-maker, and they’re willing to hear you out, you might even book that meeting. At the very least, the fact that they spoke to you (assuming you handled the call well!) should make your name and company memorable.
There’s a reason cold calling has never gone out of fashion entirely: It can work.
What’s stopping you?
Once you know the correct approach and techniques, it’s all about mindset.
Fear of failure – or of embarrassment –puts many salespeople off.
Where I’ve facilitated Objective Management Group sales evaluations, these highlight the will and behavioural competencies that act as blockers at an individual level. We can then collaborate in coaching sessions to overcome these.
Common issues include:
- A lack of desire to succeed in sales and/or commitment. (This is one to unpick carefully.)
- A lack of motivation to call. (Have a clear reason why you’re calling; what could you win?)
- Not staying in the moment. (Avoid scripted calls and maximise listening).
- A need to be liked. (Recognise and minimise this).
Benefits
Young people may be less used to, and therefore less confident in, calling. Whatever your age, being brave enough could give you an edge.
Even if you don’t easily win work, the skills you’ll hone by learning to make good cold calls, will help when liaising with clients and warm leads.
Indeed, your goal when calling might not be to book a meeting, but to information gather (because you later intend to contact the decision-maker, higher up the chain; or because your call is part of a multi-faceted outreach plan). Be clear on what you want out of the call before you make it.
One big “yes” will make the pain of any “nos” fade.
No time to waste
Success, of course, depends on how much you put in, with quality, not just quantity, being key.
It’s worth exploring the psychology of cold calling if you want to become great at it (I can help with this). Preparation, and recognising that it’s business, not personal, is important. Practicing your lines, to perfect them and smooth out the wrinkles, will grow your confidence. The learning is in the doing. Tricky though it is, listening to, and critiquing yourself can provide real insights.
Perfecting your elevator pitch and value proposition and knowing what you’re going to say is crucial. Every second counts. Within these parameters, you can mix it up on each call. See what works best. What feels more compelling?
Your aim is to build trust as soon as you can. To “earn” a few more minutes of the prospect’s time by demonstrating that it’ll be worth them listening. Show them what’s in it for them.
To do that, you need to make it about THEM from the start.
Be prepared
You can only do that if you’ve done your homework. As with all cold prospecting, you should know your Ideal Customer Profile and your target personas. Your prospect should not only fit your needs, but you should know exactly why YOU would fit theirs. You need to quickly convey that you understand what their need is.
Do your research beforehand:
- On people: Know who reports to whom. Look at their website. Look at other information sources, for example Companies House information, Linked In profiles, or news items.
- On problems: What problems/pains are you helping them to solve?
- On proof: How will you demonstrate that you can solve their pain? What examples, of e.g. other clients you’ve helped in similar circumstances, can you give? Specificity is important. You don’t have to name names, but show you are someone who can help solve their problems.
Personally assist
Yes, they have answered your call. But you called because you want to help them, right?
It might help you to see yourself as their Fairy Godmother (rather than as an unwanted interruption!). Why are they in the metaphorical scullery and how can you get them to the ball?
Usually, you’ll want to speak to the decision-makers. They have the power to accept your help.
Particularly if you’re targeting CEOs or others in the C-suite, remember to answer the obvious questions quickly:
- Who you are and why you’re calling.
- How you can help them.
- Why they should continue listening to you.
End it well
Remember also though that their job title or pay grade does not mean they are more important than you are. Treat those you call with courtesy and respect, but expect a degree of the same in return. If they can’t give you that, then politely and promptly end the call.
Be ready with stratagems for the most common brush offs or objections, but if you’ve tried these and they’ve failed, know when to walk away.
It’s better for you both if you can leave the conversation on good terms.
Call me!
Not every call will lead to a client, but every call should lead to you learning something.
When it comes to cold calling, these tips are just the tip of the ice-berg!
There are numerous techniques which could help you and your teams make great cold calls.
Please get in touch for this, or any other training needs. In the meantime, Happy Prospecting!