B2B cold calling is a hot button. Sales professionals have strong opinions and compelling arguments both for and against it. 2019 data says it doesn’t generate business 90% of the time and it takes six hours of calling to set one appointment, (which may not lead to revenue, btw) but companies who didn’t do it grew 42% less than companies who did. Everyone agrees it’s a huge time waster and isn’t the best way to attract clients, but most also say to do it. Not helpful. What are some of the problems and how can we solve them?
Problems:
It’s outdated
Invented by fellow Daytonian John Patterson to sell his cash registers in 1873, cold calling is no longer novel and it’s developed a bad reputation. It’s considered selling, but isn’t it just hunting? We call a stranger and try to ferret out if they need what we have. I interrupt someone’s work to pitch my company. Is this the first impression I want anyone to have about us?
No Gatekeepers
With companies phasing out admins, decision makers have to answer their own phones and they usually just don’t. They get so many sales robo-calls, they don’t consider it rude to hang up on us. People would rather receive texts than calls. They’d rather receive emails than texts. They’d rather ignore all three.
Buying has changed
The seller used to be in control of the information the buyer needed. Thanks to technology, information is available at decision makers’ fingertips. Customers prefer to check our websites, Google us for reviews, and talk to people we’ve worked with to find out if they want us. Customers want personal service from trustworthy local businesses. They want to discover us and enlist our help in solving their problems.
Solutions:
Qualified leads
Narrowing down not only the companies we contact but also the appropriate personnel is crucial. It saves time and puts us in contact with the person who knows if their business has problems we can solve. This is a big deal and big business. There are a ton of companies who supply sales leads.
Inbound marketing
If we analyze our data and determine what our customers have in common, we can reach out to similar businesses through our websites and social media channels. We can attract those who need us by demonstrating who we are and what we do. We can earn clients’ trust by giving them content they can use. We can establish ourselves as the SME to solve potential clients’ problems, then invite them into conversation.
Develop relationships
Let’s make friends now, so people know and trust us in the future. If we can do someone a favor, we should; even though there’s no revenue in it for us. We never know who a potential client is and “Bacon’s Law” is real. We can like and/or comment on new acquaintances’ social media posts. We can send them emails with helpful content (e.g., an article regarding an industry trend) without including a sales pitch.
When we can’t find businesses who need us, is picking up the phone and calling random companies the answer, because at least we’re doing something? What do you think? Please share in the comments section.