Cold calling boasts five to 10 times the response rate of email campaigns. An estimated 30 to 50 percent of all sales go to the business first to extend their hand to the prospect. While cold calling can stir up business activity, following a few rules will increase your success rate.
1. Focus on Value
First, strangers care about the work that you did in the past. Instead, business owners want to hear about the value given now. Don’t speak about the price. Put the focus on how your services can help them achieve their goals. You stand a better chance of a sale if you cut straight to the chase.
Try to sum up your value proposition in a single sentence. Think of the main benefit, but try to think of what will make it sound twice as alluring. Clear the air on how your product stands out.
2. Rejection—He Who Dares Wins
Salespeople who perform cold calling usually see a conversion rate of one to three percent. That number appears low compared to other sales techniques, but it still converts well for outbound sales. Email marketing is even lower. You would be mistaken to leave it out of your sales campaign. The rejections put you on the path to increasing your sales.
The ones who succeed in b2b cold calling understand how most of their calls will fall on deaf ears. You must push past the rejection to reach the point of sale. Think of it all as part of the process instead of an obstacle that you can’t slip past.
Even with the most acerbic rejections, you must remember that it isn’t personal. They simply aren’t the customer that you need. You will be more effective once you learn to see rejection as part of the process.
If b2b cold calling is not your strong suit. Consider hiring professionals who specialize in b2b cold calling and can help deliver your conversion goals.
3. Know the Structure of a Cold Call
Not all cold calls will follow the same process, but you should understand how it works. Knowing the structure will allow you to improve specific parts of the process for more effective cold calling. The structure for a b2b cold call includes:
- Introduction
- Ask questions
- Pitch the product
- Prepare for objections
- End with a call to action
You can individually work on each stage in the process to improve your overall effectiveness.
4. Know When Your Client Base Answers the Phone
Some days will have a better response rate than others, and you may find it useful to focus heavily on the days where your customers will be around the most. You want to avoid the times with scheduled business meetings since this will be the absolute worst time to get a favorable response.
5. Listen to Your Customer
Running through a script without listening can cost you a sale. In some cases, being authentic and genuine will bear fruit later down the road even if you make another call at a different time. Seek to truly understand your customer and their needs rather than trying to be understood.
Don’t interrupt your customer as they speak. Show concern if they feel that they may not be the right choice. You can’t force a prospect to buy from you, but you can show them that you do care about them and their business. The key behind actual listening to your customers is that you take what you learn from them and do something with that information. If a customer says, “Now isn’t a good time,” you’re better off listening to what they said over rambling on in hopes of a sale.
6. Don’t Stop Cold Calling
If your B2B business model depends on generating business through cold calling, then you must keep doing it. Don’t get a sale and stop after you start to see success even when busy. You must maintain a consistent routine with cold calling to keep the prospects coming in.
Conclusion
Track your results. While some of this does have to do with skill, cold calling is also a numbers game. You must show up and put in enough calls to where you will achieve a better response rate. You improve at this with time.
