Cold calling is dead. Stop wasting your sales time with it.
Cold calling’s been in a death spiral for a very long time. As far back as the 1960s Theodore Levitt wrote a piece saying in essence that .. “ your business does better by concentrating on meeting the needs of your customers rather than on selling products “
Cold calling made sense in an age where a telephone call or door knocking were the only ways in which you could connect with buyers directly. But relying on cold calling today makes about as much sense as pulling out a typewriter to send someone a letter. Why would you?
Only 1% of cold calls lead to appointments !! Only a 1/3 of that 1% of these appointments leads to a sale!! Virtually all sales now happen because the buyer has already formed some kind of a connection with the seller before any contact was made.
So why do some businesses today keep on cold calling? Because sales people who’ve been successful in the past have the mind-set that tells them “since it worked in the past, it’s got to work in the future.” Not true.
We don’t live in a world where cold calling a business works anymore.
Most sales managers are not trained to interpret sales analysis data effectively. Instead when they see a decline in sales revenue they often conclude that more cold calling is the solution. They revert to what they believe always worked in the past for them.
In fact, that decline could be caused by changing market conditions, competitive pressure, poor closing skills, a reduction in average order size, or a higher than normal customer churn.
The best sales managers analyse the sales data and look for profitable fixes. They act on facts. They certainly don’t keep pushing a solution that has less than a 1% success rate.
And finally … people in business generally don’t like being sold to …. they just want you to solve their problems.
What should you be doing instead ??
- Cross sell
Selling more to your existing customers is smarter, cheaper and far more profitable than finding new customers.
- Network (http://www.thanetbusinessnetwork.co.uk/ @NetworkTBN https://www.facebook.com/Thanetbusinessnetwork/ )
Recognize the immense value of word-of-mouth referrals
- Be online
Be everywhere and be useful. The best podcasts, posts and how-to videos in sales get traction. People share good ideas.
- Be a good listener
This facilitates being able to ask better questions that get at the heart of what your customers really want.
- Be a great copy writer
A great copy writer will inspire and help persuade your customer to buy.
- Deliver outstanding service
This is crucial. Service delivery will go a very long way toward creating a positive experience, repeat business and peer referrals.