7 major ways cold calling can benefit your business
As I mentioned in a recent post I spend the first hour of most working days cold calling which has had a profund impact on my business. In this post I want to highlight why cold calling is not dead, how it has beneffited my business and why you should consider it in yours.
Benefits of cold calling
Here are 5 benefits that I’ve personally experienced as a result of my cold calling efforts.
1. Cold calling will help you nail your sales message
Within my first few days of pro-active prospecting I realised that my sales message was wrong, it kept leading to the same objection time after time. So, I started using the objection instead of falling prey to it. Explaining to prospects why that particular objection was actually the reason my business was relevant to them, it worked a treat. Although the process can be brutal it sped up my learning curve exponentially and has saved me time and money that would have been spent creating content that misses the mark.
2. It will boost make you more resilient (providing you don’t quit too soon :))
Handling the rejection and objections that inevitably come with cold calling, has made me more resilient. I’m literally not phased by the ‘no’s’, each one gets me closer to a yes. If you stick with it long enough, you won’t be phased by the no’s either because you’ll realise that yesses are just around the corner.
3. Pro-active prospective has taught me things about my ideal clients that I never would have known
When you talk to people every day that don’t know you, and don’t care that much about your feelings, you find out the truth. During these calls I often find out more about my ideal clients than I otherwise would. This information should guide your approach and help you stand out from the crowd.
4. It enables you to handpick the businesses you want to work with
Life’s too short to work on projects you hate, no matter how much you get paid to do it. You’ll feel more in control of the sales process, instead of just putting content out there and hoping that your ideal customers see it and contact me. Cold calling can be an effective technique for reaching your ideal clients and increases your chances of working with the actual clients that you want.
5. It helps you build rapport with prospective clients
Speaking to people on the phone allows you to connect with people in a very human way. I approach prospecting calls as if they were just another conversation. I avoid sounding like a typical sales person and genuinely seek to build rapport and connect with people in a very genuine way. Never forget that people by from people and being likable will open more doors for you in business than you can imagine. If people like you, they’ll often find a way to do business with you.
6. It provides an opportunity for you to deliver value
In life and in business I believe it’s important to give before you take, the call provides an opportunity to do that. I always research my prospects before the call, so I’ll often say something like “you know, I’ve looked on your website and done some research into your business and have some ideas that I’d like to share with you…” this often opens the door to a meeting.
7. Cold calling has the potential to fill you pipeline quicker than anything else
In my first month of prospecting where my efforts where inconsistent and there was much room for improvement:
- I added 14 new hot prospects to my pipeline
- Secured 4 in person meetings
- Submitted 2 proposals
- And I anticipate closing at least one sale
Given that I only work with 5 businesses at a time maximum, this is great for me. You can scale your efforts based on your capacity and financial targets. In some ways cold calling is a numbers game. Ultimately cold calling with purpose works. When you add value and conduct cold calling to set appointments (where you can add more value) the stage is set for you to sell successfully.
Cold calling is hard and requires you to be persistent and haveto have tough skin. But it gets easier with time and the benefits will absolutely show up in your bottom line. Two books that will help your business reap the benefits of cold calling are
- Fanatical Prospecting: The Ultimate Guide to Opening Sales Conversations and Filling the Pipeline by Leveraging Social Selling, Telephone, Email, Text, and Cold Calling by Jeb Blount
- New Sales. Simplified: The Essential Handbook for Prospecting and New Business Development by Mike Weinberg