10 Nov Pros and Cons of Cold Calling, and Should It Be Used?
Experts suggest cold calling is far from dead when it comes to B2B lead generation—fifty-seven percent of C-suite executives prefer to be contacted by phone. If you plan to include this approach in your sales arsenal but are confused about its effectiveness, we’ve got you covered. The blog covers the pros and cons of cold calling. And if you’re finding it challenging to execute it correctly, we’ll also discuss tips to revamp your existing strategies so you can better position cold calling as an essential component of a winning sales strategy.
Why cold calling works
Cold calling is an effective outreach strategy, particularly for a small organization or a new set up with a limited budget allocated toward sales and marketing. It’s also good for newbie sales reps to call the prospects directly and understand their expectations. With real-time feedback, salespeople can expand their learning curve and adjust their pitch accordingly.
When you call a prospect—at the right place and right time—you’re in a better position to make personalized connections. While younger executives favor digital interactions, if your prospect list consists of senior decision-makers, they might prefer a telephone discussion than an email pitch.
Why it may not work
Not all salespeople are having a good time with cold calling. They may face the heat of prospects that get annoyed with the work interruptions caused by unexpected calls. The key decision-makers of the company have a tight schedule with critical meetings and heavy responsibilities. They may not have the time and bandwidth to receive unexpected calls. And with the slowdown in lead flows and the managerial pressure to meet the targets, the team may feel demotivated about the effectiveness of this B2B lead generation tactic.
Tips for making cold calling more effective
Cold calling as a component of modern sales workflow seems too saturated. The real question is how can you make cold calling more efficient? Here are some tips to make this outreach strategy work and deliver you the desired results.
1. Identify the right person to target
Top-level executives are usually packed with their busy schedules. It’s therefore important to target next-level decision-makers who are easier to reach. Bear in mind they must have the power to purchase your product directly or can take a decision after seeking approvals from other key internal stakeholders.
2. Conduct due diligence before the call
One of the most effective ways to secure the confidence of your leads is by showcasing how your solution can solve their problems quickly and cost-effectively. And for that, it’s important to do some research on what concerns your prospects, and prepare how to present your offering in an appealing way.
3. Be natural
Preparing a script for the call—with all the stats, unique selling point, and flow of conversation—beforehand is a good idea. But don’t lose touch with your natural self. Be spontaneous, but prepared, in answering the concerns of prospective clients on the call and presenting your product’s unique value proposition.
4. Review what went wrong
You may not always get a positive response over the call. It’s therefore important to go back and reflect on what went wrong in the discussion. Seek feedback over a follow-up email to improve your sales pitch and strategies for the next outreach.
Is cold calling dead?
The truth is, cold calling isn’t dead. If done properly, it can yield positive results. Remember, cold calling is just one tactic in your sales arsenal. Overall, it’s generally wise to use an integrated approach, including phone calls, emails, and social media. This will help generate better leads and create long-lasting relationships with customers.
Linked Strategies provide executive engagement managed services that help you build B2B strategic relationships. We help companies generate, on average, 100 to 200 prospect-qualified meetings per year with their most ideal decision-makers, no matter how senior the target. Contact us today and we’ll work with you to develop an effective B2B outreach strategy leveraging account-based marketing, email campaigns, and referral marketing.