You have probably heard the phrase before, but what is cold calling? Most businesses have some form of sales and marketing. However, having the potential to make a sale does not come out of thin air. These opportunities need to be generated through digital marketing services like SEO or traditional marketing like telemarketing and door-to-door sales. Improving your success rate when making a cold approach is vital to any marketing and sales team.
Cold calling definition:
The definition of cold calling as per the Cambridge Dictionary is:
“the activity of calling or visiting a possible customer to try to sell them something without being asked by the customer to do so.”
What is meant by cold calling?
When it comes down to it, cold calling means one thing—making direct contact with a potential customer and pitching your service or product to them. Cold calling in telemarketing requires you to pick up the phone and start dialling anyone and everyone to whom you have a chance of selling. If you can’t make a sale, you may be able to generate a lead from an interested party.
The critical factor here is that before you picked up that phone, there could have been 0 awareness on the prospect’s side. By the time you have finished your pitch, they know who you are, have your contact information, and have received your sales or marketing pitch.
Door to door salesmen and women can also do cold calling physically. Knocking on doors, whether it be residentially or commercially. The typical example is the stereotypical double glazing salesman. The salesman will walk down the street and knock on door after door. He can see who already has double glazing on their windows and who does not. When he passes a house that does not already have double glazed windows, they can knock on the door and provide a solution.
Now in the age of social media we also have the ability to cold call via reaching out to potential buyers on the many platforms available to us. LinkedIn is one of the main arenas for cold approach marketing online.
What are the best cold call opening lines?
Cold calling is admittedly quite an intrusive form of marketing. Calling someone at their home or place of business will not always be welcomed, and some may even say the majority of cold calls are unwanted.
Creating the best cold call opening lines is every sales or marketing department’s goal. In marketing, you should allow your conversation to flow with purpose yet be relaxed. If you are looking to make a sale on the first call, you will want to put some more pressure on the call. Remain professional, and introduce yourself and your product. Pitch your value proposition and ask for a sale.
Best products to sell cold calling
When it comes to cold calling, not every product or service is suitable. The best products to sell cold calling are low value and a product that can quickly be agreed to and, most importantly, offers enough value there and then on the phone that it would be stupid to let this opportunity go.
Some examples of products that salesmen and women can sell while door-knocking in person would be: Window cleaning, Double Glazing, Domestic Products, and Gardening Services.
Telemarketers can sell products over the phone: Insurance, Gas and Electric, Telephone Services, Subscription Services and more.
What is the worst time to cold call?
Any cold caller will tell you the worst time to call during breakfast, lunch, or dinner, especially lunch. Between 12:00 and 13:00, you will be on the backfoot fighting off objections. Please remember that you are entering your prospect’s personal space and time when you are cold calling. You cannot expect them to be happy to receive your call, especially while they eat their well-deserved lunch!
Bear this in mind when calling, and always show respect to your prospects. And typically, calling before nine and after five is undesirable for the same reasoning.
B2B cold calling best practises
You can take a look at our telemarketing for dummies, but here are some more of our b2b cold calling best practices:
- Remain professional at all times
- Respect your prospect’s time and personal space
- Do not harass your prospects!
- If they are on the TPS ( Telephone Preference Service ), apologize and hang up
- Take no for an answer, don’t argue
- If you can’t make a sale, be happy with a qualified lead to come back to later
How to generate leads without cold calling
There are multiple ways to generate leads without cold calling. SEO or Search Engine Optimization is a great way. If you have a website and an online presence optimizing your content to appear higher on the search engine results is critical. Having a great landing page on which your search traffic can land and enter their details or request a quote is now one of the most common ways to generate leads outside of cold calling.
CRM for cold calling
At Midas Consultant, we have worked with a multitude of CRMs. The following are all excellent providers, and we recommend you take a look at them.