The death of cold calling has been a hot topic in the business world for years. Some say it’s a dying practice, while others claim it’s still an effective way to reach new customers. So what’s the truth? Is cold calling really on its last legs?
I remember when I was first starting in sales, cold calling was all the rage. Every day, my teammates and I would make hundreds of calls each, trying to pitch our products to anyone who would listen. It was exhausting work, but we were told that it was necessary if we wanted to succeed.
These days, however, things are different. With the advent of social media and other digital marketing tools, there are now more efficient ways to reach potential customers than by randomly dialing phone numbers and hoping someone picks up on the other end.
The Death of Cold Calling
The death of cold calling is brought about by new technologies that make it easier for customers to screen calls and by changes in regulations that make it more difficult for companies to make unsolicited calls.
Why Cold Calling May Not Be Dead Yet
Even though social media and other forms of communication have replaced traditional phone calls, there’s still a lot of value in making a phone call.
A “cold” or “uninvited” phone call is a phone call that is sent to someone without that person’s permission.
Many marketing and sales professionals argue whether cold calling is dead. A quick search on Google will reveal that there are a lot of articles on both sides of the fence.
But, as the digital age continues to evolve, the evolution of sales and how we communicate with our customers has rendered cold-calling obsolete.
But is the cold-calling industry actually dead? Not at all.
Should your sales team be making the majority of their calls from a cold list? Absolutely not.
While things like social media, email, and texting have changed the way salespeople connect with customers, here are a few reasons you shouldn’t write off the cold-calling method just yet.
Human Interaction Matters
The digital age has made things faster, but we’ve come to a point where human interaction matters again.
While technology has made it easier to communicate, it has also made it more impersonal. Picking up the phone and speaking to people again helps bring that personal touch back to sales, and business, interactions.
This is one of the main reasons why I prefer to make phone calls over emails. Emails are more difficult to read and the tone of the message can be misconstrued.
By communicating over the phone, you can avoid the miscommunication and frustration that often comes with back-and-forth email exchanges. Phone calls also allow you to get immediate feedback.
When you pick up your phone, you can immediately hear from your prospect instead of chasing the conversation around. This can save time and aggravation.
Learn About Prospects’ Personality
While email, instant messaging, and texting are great ways to communicate with your prospects, it can sometimes be hard to get to know the personalities of your prospects.
It’s important to understand who you’re talking to and how they’re likely to respond to your communication.
When trying to connect with a new prospect, it can be helpful to learn about their personality and preferences. This includes things like how they like to be contacted, how they talk, and what their hobbies are.
Your Competitors Are Not Calling Much
With so much debate surrounding the effectiveness of traditional cold calling, and so many new sales and marketing tools, it’s likely that your competition isn’t making many phone calls.
Breaking through an under-utilized communication channel can be a great way to set yourself apart from the crowd.
Not bad for a conversation starter, right?
Cold Calling is Still Alive in 2022
Is the cold-calling industry dying? Experts say that it’s not going anywhere, but strategies need to change.
Businesses just need to understand how their outbound sales efforts fit into their larger marketing strategy.
If you’re looking to reach out to new customers, consider reaching out to them via a cold phone call. It’s important to know who they are, how they buy, and what issues you can resolve for them.
6 Myths About Cold Calling in Sales Prospecting
Reports about the death of cold calling have been greatly exaggerated. Cold calling will always have a special place in B2B outbound sales prospecting.
Here’s the truth behind the 5 of the most common misconceptions about cold calling.
1. Cold Calling is a Nuisance.
The point of a cold sales call to a prospect is not to annoy them until they buy or hang up. That’s one annoying way to do business.
It’s not about making a sale the minute they answer your call. It’s about building a relationship with them and earning their trust. You can only do that if you’ve taken the time to research them beforehand and understand what they’re looking for. Only then can you offer a solution that’s tailored to them.
2. Cold Calls Are for Whoever Picks Up the Phone.
Today’s successful salespeople are focusing on their outreach efforts and aren’t out to just sell their products or services to the gatekeeper (e.g., a front desk receptionist or admin assistant).
Rather than making random phone calls to strangers, they’ve identified their target audience and know exactly who they want to contact. They’ve also got the direct line for that individual, which improves their chances of actually reaching them!
If you reach a receptionist when making a sales phone call, don’t give up! There is a strategy you can use to get past a secretary or assistant.
3. Cold Calling Does Not Book Meetings.
According to a survey by DiscoverOrg, 78% of decision-makers have booked an appointment or attended a sales event as a result of a cold call or email.
4. No One Answers Cold Calls.
The RAIN Group found that 69% of buyers have accepted cold calls in the past 12 months.
67% of callers who initiate contact with a sales prospect are successful.
5. Cold Calls are Just About Listening.
Actively listening to your prospects and customers is incredibly important. But in a cold call, you don’t just listen. Sales reps usually talk 55% of the time.
It makes perfect sense that you’re taking the time to educate your prospect about what you have to offer.
6. Cold Call is Best Done Through Manual Dialing.
If you’re still manually dialing your outbound sales calls, you’re doing it incorrectly.
With sales cadence software and a call tracking solution, you can keep track of your calls and emails, as well as stay organized with your contact list.
These tools help increase productivity by up to 800%.
Does Cold Calling Still Work in 2022?
Yes, cold calling can still be an effective way to generate new leads in 2022. However, it’s important to use a modern approach that takes into account the way consumers research and buy products and services today. This means using targeted lists, personalizing your messages, and providing value upfront.
When done correctly, cold calling can help you reach new customers and grow your business.
What is the Average Success Rate of Cold Calling?
There is no definitive answer to this question as success rates can vary greatly depending on a number of factors, such as the industry being targeted, the quality of the leads, and the experience of the salesperson. However, some studies have suggested that the average success rate for cold calling is around 2-3%.
Why Cold Calling Could Be a Waste of Time?
There are a few reasons why cold calling is generally considered a waste of time. For one, it’s very difficult to actually reach a human being when cold calling, as most people screen their calls these days. Even if you do manage to get someone on the phone, they’re likely to be annoyed at being called out of the blue and will not be receptive to whatever you’re trying to sell them.
If by some miracle you do manage to make a sale through cold calling, there’s a very good chance that the customer will be unhappy with the product or service and will not hesitate to leave negative reviews online, which can damage your business’s reputation.
Have we reached the death of cold calling? Cold calling is a dying practice that is no longer effective in today’s business world. With the advent of social media and other digital marketing tools, there are now more efficient ways to reach potential customers than by randomly dialing phone numbers and hoping someone picks up on the other end.
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