Cold calling is one of the hardest marketing activities but if you know how to do it well, the closing percentage might end up being pretty good. Based on different sources the closing percentage is 1-3% on average. The success is very often dependent on the price and qualities of the product or service. Obviously it is nearly impossible to sell an expensive product/service right away. But at the same time, the contact with the client has been made and closing the sales will come in a later stage of the sales.
However, it is believed that cold calling is vitally important for a company just starting and who doesn’t have massive resources to spend on marketing or hiring external salespeople. Even today cold calls are made and probably every successful salesperson has done it during their lifetime and probably will do it again.
How to make more efficient cold calls?
- Focus on the client, not yourself. Meaning, you should listen to the client and what they have to say, identify their needs and focus on those needs. Don’t talk extensively about yourself or your company, but instead, focus on the client.
- Don’t build your sales calls on a set scenario and don’t follow a script. Premade scenarios and scripts will immediately turn you into a robot, who is clearly reading something from a paper. Not you nor your client is interested in hearing that. The dialogue will be automatically lost. Every sales call is different and making a call without listening to the client is a waste of time. Build your call on an interactive conversation with your client, not a script.
- Questions lead to answers. Strategic questions help to create a dialogue, based on the answers of the client you can build your sales pitch and answer their questions. Without the important questions your call can turn into a small-talk and that makes it more difficult to get to the point. This is why you should come up with some important questions you would like to know and try to ask those in compliance with the dialogue.
- Don’t try to close the sales with the first call. Statistics show that during the first call, salespeople sell the least and the success factor grows with time. This of course depends on the price of the product/service, but it can be said that 80% of the sales is closed during the 5th call.
- The key is in simplicity. The easiest you can define your product/service in a call, te easier it is for the client to buy it. Complicated description of a complex product – FAIL. Simplified description of a complex product – SUCCESS.