Is This A Cold Call?

Ok, everyone knows about the horror of calling someone out of the blue and completely fumbling around the call.  Well maybe not everyone, but you have at least received a bad cold call.  

There is usually an awkwardly read script, and pressure to complete this transaction right at that moment ( a sense of urgency ).  It feels pushy and they always emphasize "If you hang up you will miss out on this amazing limited-time opportunity."  The downside of this approach is that people don’t like being sold to, especially ambush style on the initial cold call. This is because we as people are constantly being sold to all day every day and their methods are better!

• Wake up and ask Alexa “ What’s the weather like today?”, She responds with the answer but also with,” Last month you bought  ___ would you like to buy again?”
• Turn on your TV and a commercial comes on before the news. 
• Turn on the radio and a commercial plays before music.
• You drive to work and see a billboard, a bus advertisement wrap, a yard sign, and a Mac truck with an image on the side.
• You go on social media on your way into the office and you see an ad on your feed.

And now of all times, you have been at work for 30 minutes and this random person is already calling you, “ Hey my name is Tom from ABC company do you have 5 mins to talk about…” NO! - Click.

So what’s the solution to this challenge? You need to break the mold!

From my time in sales, I’ve learned that people don’t like being sold to but they like to buy things -Confusing philosophy but oddly true.

Sometimes, the reason why a prospect says no to a pitch is not because of the script, tone, product, or service being offered. Instead, it is often the timing of the pitch itself! If it comes too early in your relationship with the prospect, that opportunity is gone. They no longer want to hear to what you have to say. 

To be honest, even if you aren’t pitching on the first call they could decline a conversation for various reasons such as the timing of the call, relevance to their needs or position, lack of funds, or simply not wanting to engage in the conversation. In short, it could be anything.

With cold calling, you must be intentional, specific, relevant, and targeted.  You cannot just call any Tom Dick or Jenny, at any hour, with any message and think that the results would be consistent with speaking to someone who resonates with what’s being offered; a conversation that could lead to actionable insight relevant to their business challenges.  So before calling is even a thought, we are going to need to do some research.  

Time For Some Sales Prospecting

Sales prospecting is the art of identifying potential customers to generate new revenue.  Sales reps prospect by finding and engaging with qualified leads to turn them into an opportunity and potentially into a customer.  Take a look at what type of businesses or customers have bought from your company historically.

Look into past buyers to determine the type of buyer that fits our ideal customer profile.  The ideal customer profile or ICP describes a person or business most likely to benefit from and purchase your products or services. 

For cold-calling businesses, you would look at specifics like employee headcount, annual revenue, industry, technology, and geography.  These details should give you an idea of the type of businesses that are perfect for your company to have relationships with.  For B2C, this looks a little different.  Try looking at location, age, income, marital status, and family size. Giving you an idea of the people who have purchased your product or service.

If you are starting to think, “Man, this ideal customer profile sounds a lot like a buyer persona or a target audience,” you’re correct.  They all share the same foundational purpose: to assist businesses with identifying their ideal customer but with slight differences. 

Just in case you are not familiar with buyer personas or target audiences here is a little breakdown.  A target audience is a specific group of people most likely to want what you’re selling based on the data, but think about this in terms of marketing and advertising instead of sales outreach.  Buyer personas are artificial people you have created to fit the person in the ICP you are looking to build a relationship with.  Their title, age, challenges, goals, motivations, and buying power are all things that should be included here.  The buyer persona is the person on the other side of the call or at least you hope it is, so you have an idea of how to interact with them based on your research.  If your research has been done properly and you have found the people most likely to move forward with your product or service, it is time to start reaching out.

The Cold Call

The overall average effectiveness of cold calling stands at a sad 2%, which is way lower when compared to other sales strategies.  Regardless, it is still a valuable method for lead generation and should be included in your sales strategy.

Refining your cold calling script, you have the potential to increase cold calling success rates by as much as 10.01%.  According to Gong, a simple inquiry about the prospect’s day can make a significant difference.  That nugget of information tells us something about how we need to differentiate ourselves from our competitors.  Be a person speaking to another person first and foremost.  This means being conversational because that’s what every cold call is, a conversation.  Two tips to get you started on your scriptwriting journey - Be different and be conversational. Simple right? 

Simple but not so simple. Script writing is one of the most difficult tasks to get right in the beginning and requires constant adjustment throughout the sales journey. 

Coming up with a script is like coming up with a plan of attack. You can have everything plotted out but there are still adjustments that need to be made on the fly and rebuttals around every statement. So make sure you keep an open mind and don’t be afraid to try new things - It could be the change that sets you apart from the rest. Here’s a generic template to get you started on your cold call script:

Introduction:

 

"Hello (Prospect's First Name Only), this is (Your First Name Only) from (Your Company). I hope I'm not catching you at a bad time. The reason for my call is (Briefly explain your purpose – e.g., to discuss how our solutions can benefit your business)."

 

Build Rapport:

 

"I was looking at your company's (website/social media) and noticed (something relevant and positive about the prospect's business). It really caught my attention, and I thought it would be worthwhile to reach out and explore how we might be able to (add value/improve efficiency)."

 

Ask Permission:

 

"Before we dive into the details, do you have a few minutes to discuss this, or would you prefer to schedule a more convenient time for our conversation?"

 

Highlight Benefits:

 

"We've been working with companies similar to yours and have helped them (mention specific results or benefits). I believe it’s possible you could do the same for your business. Does that sound interesting to you?"

 

Qualify the Prospect:

 

"To better understand your needs, can you share a bit about (specific challenge or goal relevant to your product/service)? This will help me tailor our discussion to address your unique situation."

 

Handle Objections:

 

"If you have any concerns or reservations, I'd be happy to address them now. I want to ensure that our conversation is as valuable for you as possible."

 

Propose Next Steps:

 

"Based on our discussion, it seems like it could be beneficial for us to (schedule a meeting/send more information). What do you think? Does that make sense to you, or is there a preferred way you'd like to proceed?"

 

Closing:

 

"I appreciate your time, (Prospect's First Name). I look forward to the possibility of working together. If there's anything specific you'd like to explore further, feel free to let me know. Thank you."

Remember to adjust this script to your brand’s specific product or service and the industry you're targeting. Now you are ready for your first sales call! Listen actively, take plenty of notes, respond to the prospect's signals during the conversation, and use your script as a guide. 

Follow-up, Follow-up, Follow-up 

Now if you are responsible for the entire sales process then we are going to need follow-up. "Follow-up" refers to the process of reviewing, evaluating, or reinforcing a previous action.  It all starts with an email after the successful cold call. Even something simple, thanking them for the conversation and recapping some of the points you spoke to on the phone. Something like this cold email example:

Subject: Next Steps and Appreciation for Our Call

Hi (Prospect's First Name),

I trust this message finds you well. I wanted to express my gratitude for our recent conversation. It was a pleasure learning more about (Prospect's Company) and discussing how (Your Company's Solutions) can benefit your business.

Our discussion highlighted several exciting opportunities, and I'm eager to explore them further with you.

Would [Proposed Date and Time] work for you? Alternatively, feel free to suggest a time that suits your calendar best.

In the meantime, if you have any additional questions or if there's specific information you'd like me to provide before our next meeting, please let me know.

Thank you again for your time, [Prospect's First Name]. I'm looking forward to more conversations.

Best regards,

[Your Full Name]
[Your Position]
[Your Company]
[Your Contact Information]

The follow-up email contributes to building a stronger relationship. It demonstrates your commitment to the prospect's success and shows that you view the engagement as a partnership rather than a one-time transaction. Wait a couple of days before reaching out again, and when you do make it brief.

Quick example if they have not replied: Hey I sent you an email Monday, did you get a chance to review that or did I end up in the junk folder?

This is not only short and relatable but further emphasizes reading the email and replying.  Simply adding these small steps, which most salespeople forget, will improve your chances of closing a sale astronomically! 

“ According to a recent study, 80% of all sales are made after five to twelve contact attempts from a salesperson. On the other side of the spectrum, sales have only a 2% success rate for closing after just a single contact from a salesperson. In other words, if you don't follow up, you have almost no chance of a sale. “- Lusha

On average it takes 8 - 12 touchpoints to close a deal, according to HubSpot. With that in mind,  follow-up, follow-up, and following-up more on the follow-up you followed up on will be necessary. Yes, we know -that's a lot of follow-ups, and by now you're tired of reading the phrase, but it is the truth. 

One small thing to keep in mind, follow-up does not mean sending the same email you sent last week repeatedly.  This will likely be counterproductive because your prospect will notice the lack of effort.  It's important to keep in mind that you should aim to provide value in a new way each time you contact them. Some things to try:

• Find the prospect on LinkedIn and if they are active they will know you looked at their profile. 
  • Shoot them a follow next time and like some of their posts.
• Check out their website and if they maintain a blog, leave a comment.
  • You can also mention the blog in an email and inform them how valuable it is.
• Are they going to be attending any networking events nearby?
  • Networking events are great opportunities for an impactful touchpoint. 

By doing these things, you can establish a better connection with your prospect and increase the chances of getting a positive outcome while also being unique. However, with all your varying approaches, do not disregard the power of the phone. You have to make sure to keep a healthy mix throughout this process and a phone call still holds the most power.

Making the change.

The pressure to close deals can be overwhelming, remember the value of patience and relationship-building. The days of aggressive, one-call sales pitches are fading away, making room for a more strategic and customer-centric approach.

Sales prospecting sets the stage for success, helping you identify and engage with qualified leads that align with your ideal customer profile. Understanding your past buyers and creating an ideal customer profile or buyer persona provides a roadmap for targeting the right businesses or individuals.

Cold Callers are usually met with skepticism and resistance and require a fresh perspective. Rather than following a rigid script, embracing a conversational tone and being different from the typical sales pitch can significantly improve your success rates. While scriptwriting is a constant process of refinement, staying open-minded and willing to try new approaches can set you apart from the competition.

The follow-up process is equally crucial, as studies show that a significant number of sales happen after multiple contact attempts. Persistence and creativity in your follow-up strategies can make a substantial difference. Remember, it's not about sending the same email repeatedly; instead, focus on providing value in different ways, such as engaging on LinkedIn, leaving blog comments, or attending networking events.

Building relationships takes time, and the average of 8 to 12 touchpoints before closing a deal emphasizes the importance of patience in the sales journey. Instead of rushing to the finish line, invest in establishing connections and letting prospects see the genuine value you bring. In the end, a thoughtful and customer-focused approach will not only lead to closed deals but also to long-lasting, mutually beneficial relationships with your clients. So, in the world of sales, don't just make the sale; make the change by building lasting connections that stand the test of time.

Ready to revolutionize your sales strategy?

Download our comprehensive sales plan guide and implement proven insights for prospecting, engaging cold calls, and strategic follow-ups. Elevate your sales game with our downloadable plan today!