Some market analysts keep saying that cold calling is an old tactic due to the changing nature of business communications. Today, most reps use emails, social media platforms, and VoIP to engage with prospective and existing customers as well as business associates. Yet, many successful businesses today rely on cold calling services to drive revenue. Thus, cold calling is not dead! In fact, in the B2B space, cold calling is certainly not going anywhere!
The key question should be: what does an effective B2B cold calling look like today? The answer to this question is surely not straightforward, but it comes down to the work you put down before you pick up the phone. The better you strategize, the more likely you are to win.
If getting heard by key decision-makers is a challenge for your business, then you need a reliable B2B cold calling partner like SalesHive with experience in effectively scaling your sales development team with their lead generation.
The truth is, if you’re still doing cold calling like it is 1895, you might as well not do it at all. Too much has changed over the years, that’s why we’ve assembled 5 effective cold calling strategies that can help B2B sales pros make more sales and close deals using methods and cold calling approaches that work in 2021, and beyond.
- Plan Ahead
The initial step in any effective cold calling should involve systematic planning. This means that your cold calling reps should have a clear definition of what makes a good lead for whatever the company is offering to the market. From this, they can build a micro-target list.
This necessitates determining the number of calls you are going to make to meet your monthly goals. A rough number of the calls you need to hit every day can be calculated through a worksheet. You also need to determine the objective of your cold calling. What do you want to achieve? Are you looking to invite your prospects to attend a webinar? Invite them for a meeting? Or persuade them to view a live demo of your product?
You must always take time to define your CTA before you each dial, and each CTA will be different depending on who you are calling. Remember, cold calling is just one fraction of a multi-stage sales process. Your objective might simply be to move the prospect onto the next stage.
- Identify the Decision Makers
In most cases, in a B2B company with 100 – 500 employees, the purchase decisions will involve an average of about seven people. Cold call the wrong people and your sales pitch will fall on deaf ears. Given this, it is highly paramount to start by identifying the key decision-makers in the company. Is your product benefiting HR? Communications? Engineers? Or is it designed for the salespeople?
LinkedIn is your go-to platform for this, where you can easily identify the key B2B employees to approach. Simply go to the company’s profile page and click on the People tab to view the list of key employees. You will most likely find the key decision-makers in that list.
- Study Your Prospects
Once you identify your key prospect, it’s time to do some digging. Any specialist in cold calling will tell you that if you don’t study your prospect well, your cold calling strategies won’t generate leads. Make it a ritual to understand your market. When you add value to the conversation with your prospects after conducting thorough research, you’re already one step ahead of the competition.
In-depth research allows you to have some key information about the client, which you can then use intelligently to show them that they matter. The reason cold calling reps at SalesHive are so effective is that they are dedicated to your account so that they become more comfortable with your market. This way, they often come across with human touch, rather than being cold callers, ensuring higher dial-to-connect rates.
In other words, tracking down key information about your prospects allows you to deliver calls with value and keep their attention. Pre-call prospect study also helps you enter the conversation confident and with a better vision and tailored message from the gecko.
- Be Empathetic and Offer Value
By offering value and being empathetic, you can go a long way in creating value with your prospects. This is particularly true in this COVID-19 pandemic where everyone is looking to survive. Introduce yourself first to start a conversation with your prospect and build a rapport.
Avoid jumping in with a sales pitch, and maybe start by asking them how they are doing and coping up with the pandemic. In this world of cold calling, you must understand that rejections are plentiful. Learn how to cope up with objections. Actually, rejections will help you make smarter cold calls in the future.
Listen attentively without interrupting, but don’t be afraid to ask the right questions that might lead you to establish a business partnership. Avoid any kinds of distractions during your cold calls; they may disturb the flow of communication and disconnect you from your potential sales.
A cold calling script can go a long way to helping you remain focused on communicating your value propositions.
- Follow Up on Cold Call Leads
Studies show that 80 percent of sales take about five follow-up calls after the initial call or meeting to close. Unfortunately, almost half of salespeople and cold callers give up after just one follow up.
You probably have a list of prospects that you haven’t spoken to after initial contact. You might have been rejected or dismissed entirely. After a reasonable time period, it is advisable to make a follow-up call to put you ahead of the curve.
A quick way to do this and demonstrate value is to show care by immediately referencing the last call at the beginning of the follow-up. This also means keeping track of calls and response data to make sure that you don’t miss an opportunity to get in touch and engage with prospects that might say yes now, or in the future.