When you say “cold call” to your salespeople, do they start to sweat? Do they tell you the horror story of when they were totally humiliated by a prospect? Or how one time, they spent an entire week cold calling for meetings and phoned over 100 people per day, just to get 1 meeting...only to have them cancel at the last minute.
So, they tell you with genuine concern for your reputation as a sales leader, “You know cold calling doesn’t work and we really shouldn’t “waste our time."
First things first, cold calling is not easy. It's time consuming, stressful and if done improperly, can drive up your cost per lead to where it's absolutely not worth the effort. It's one of those things that you really have to build a plan around and put processes in place to have any real success. For a good plan, I say let’s look at the numbers. Did you know:
- 2% of sales are made on the first contact
- 3% of sales are made on the second contact
- 5% of sales are made on the third contact
- 10% of sales are made on the fourth contact
- 80% of sales are made on the fifth to twelfth contact
Here’s another interesting number:
- 44% of sales representatives quit after 1 “No.”
So, what these statistics tell us, while the initial cold call is important, it's even more important to get to at least a fifth contact with a prospect (remember, almost half don’t get to a second contact). Now, with those numbers in mind, where do you begin to analyze performance?
How many times do your salespeople call on the same client before they give up? Have you tracked the average number of contacts it takes to work through an entire sales cycle of your product? Do you know how many contacts it takes to move into the second stage of the cycle? Better yet, have you prepared your salespeople to last through that time period?
While having a great message, product, and the determination to make that initial cold call is important, building a successful follow-up strategy for your team is far more useful for getting a deal closed. So what tools have you put in place to reinforce your salespeople and the calls they're making? What training have you built around specific sales processes? Anyone can make a single pitch. A real, and ultimately successful, salesperson knows how to be persistent and patient. They build upon each connection until the deal's done.
I'm sure you have one, or maybe a few, on your team that are great with follow-ups and cold calling. Why not replicate that method throughout your team with the help of Thinkzoom? With Thinkzoom, your sales team can create their own custom message (i.e., their proven cold call tactic) or personalize our existing sales content by adding their message right before the start of a course or after it's ended.