Cold calling is one of the oldest forms of sales and business development that remains heavily used in practice today. Consultants, wealth managers, law firms, software companies and many other businesses use cold calling to reach prospects and land new clients.
Understanding your prospects and offering them a solution to a problem they may face remains one of the most important aspects of making a successful cold call.
Learn more about Kaitongo and 5 of the best cold-calling practices you can start doing today to increase your success rate and build relationships with future clients.
Cold calling is a sales technique where the seller contacts a prospect with whom they've had no previous conversation or contact. They make a cold call to sell the client whatever service or value they want to provide
Cold calling is not dead but can be ineffective if done incorrectly. Many business owners and buyers still want to be contacted when looking to expand their business or purchase a service/product.
A study done by the Rain Group discovered some of the following statistics when asking buyers their thoughts on prospecting.
Understanding your prospect and their business should be at the top of your list of things to do before making a cold call.
You can bring value and personalization to the phone by noting important information and researching your prospect. Your prospect will likely appreciate the added effort, which can lead to more meaningful conversations.
Some questions you might need to research before dialling:
Kaitongo’s AI-powered market intelligence platform offers a unique way of sourcing information on your prospects by delivering curated news insights to your inbox, which can be used to help you to understand your prospects better and engage in value-driven conversations.
How can you make your prospect's life easier? How can you benefit their business? What value are you bringing?
The answers to questions like these are more likely to interest your prospect and engage them during the conversation.
Spending too much time discussing what you provide or its features may disinterest the prospect. Instead, focus on delivering value and detailing the benefits of accepting your services or product.
A successful cold call often starts with a deep understanding of your prospect's business challenge and how your product or service can alleviate it.
You might be surprised to know that calling at the right time and day can impact your cold call's success.
Phoneburners conducted a sales call statistics report in 2022 that provided some insights on the best times and days to make a cold call. The report determined that Tuesdays from 10:00 to 10:59 am was the best time to reach out to prospects.
However, the report still noted that calls made between the hours of 9:00 am to 4:00 pm were most effective in providing the best response rates.
Alternatively, making calls in the early morning, after hours, or on weekends was among the worst to make a cold call.
Cold calling can interrupt your prospect's day, and spending too much time rambling about yourself or your business might lead to some unwanted results.
It may be worth referring back to the 3 Ps in your next cold call:
Not everyone will be passionate or willing to embrace the value you’re offering to bring. Realize this and use an unsuccessful call to grow and improve on the next one.
Here are some questions to consider after an unsuccessful call:
Answering these questions might improve your call on the next attempt and help you to land more clients.
Kaitongo is dedicated to helping business professionals and sales teams get to know their clients better. Our platform provides industry-specific insights that help them spark meaningful conversations and close deals.
Request a demo today and learn how Kaitongo can help you to become a trusted advisor.