Cold calling is old-fashioned but it remains an essential part of the selling process. Done well, cold calling transforms strangers into prospects. It can build relationships. Especially in the B2B arena.
Cold calling really works, according to the statistics. Buyers find some cold calls a useful part of the research process for new products. And telemarketing is one of the few proven ways to increase a selling company’s prospect base. Bottom line, it generates leads.
For many people, the cold call is the start of the purchase journey.
Statistics
69% of buyers report accepting one or more cold calls during 2019.
What is the success rate of cold calling?
A reasonable success rate is 1-2%, according to sales statistics. This might make you think that telemarketing is dead, but the truth is that this technique is still valid in an overall marketing strategy.
What is the best time to make cold calls?
The best time to call customers is 10-11 a.m. At this time of the day, there is a 16% chance that your prospect will answer. The next best time to call people is 2 p.m., at 15%. Statistic furnished by Phoneburner.
How many no’s before a yes?
According to statistics, it takes an average of 18 attempts before agents reach a lead who is willing to talk.
On average, sales representatives need to make five or six successful follow up calls to close a deal.
But
Experts say that almost half (44%) of sales reps stop with sales follow up after the first call.
How to Counter That
A company needs to make sure that they are offering the right incentives for their telemarketing representatives. Those incentives may include spiffs for leads generated and cash awards for leads that turn into sales.
Training is also very important. The best reps don’t give up. A good TSR practices how to make cold calling less objectionable. They know how to connect with prospects on a human, person-to-person level. And they don’t give up after that first call.
We all know that sales are built off relationships. When a TSR builds a relationship with their prospect, the chance that it will develop into a warm leads increase exponentially.
Click HERE for more statistics on using the phone for lead generation.