What is cold calling?
Cold calling is a process where phone calls are made to people without prior information, with the objective to market or sell products or services is of a company. It is considered one of the most effective techniques used for lead generation. Unlike other marketing methods, cold calling puts businesses and customers into direct contact with each other. It is an attempt to educate and convert potential leads to purchase either the product or service offered.
Cold calling is a great way to enter a market to sell. Its effectiveness increases several fold when the target audience for the product has been identified. The objective of a cold calling is to engage a prospect in a conversation, introduce the company’s product, and guide the probable customer to buy their product. A study was done on sales development organizations from 900+ companies were found the average performance of 94.4 activities a day, including social, call, voicemail, and emails. These activities led to an average of 23.1 appointments set, and 72.3% of these appointments it created to the success rates of 2.5%, mostly a year.
Benefits of cold calling
It expands Business Empire: Cold call enlarges business across borders connecting through local, national, and international calls at a low cost that is negligible in comparison to the benefit by finding a potential customer successfully.
Gives immediate feedback: Telemarketing is the only form of marketing strategy that assures instant feedback from your customers irrespective of the distance or location problem.
It creates a target: It generates an opportunity to prospects or leads on a day-to-day basis or monthly basis. It only depends on the communication skills and ability of the communicator, but there is a requirement of an extensive team or a group to achieve the target.
The objective of a cold calling is to engage a prospect in a conversation, introduce the company’s product, and regulate the probable customer to buy their product. There would be nearly 100 to 150 calls made by an individual while cold calling; this would relate that the product or service offered has been made aware to these people.
How to handle objections while cold calling
Objections are a signal that the customer is interested but not ready to purchase the product. Objections mostly arise because customers want to have a complete understanding of the commodity and feel good about the purchase of their product; they want to be sure that they have made the right decision.
Objections usually fall into one of these categories:
This is where it’s important to handle the customers with diligence, use a clear tone, gesture, and maintain discipline and be able to explain that value clearly and not get affected through the objection. This objection varies intent depending on every individual customer. It is the communicator’s duty to change their mindset and brief special content about the product.
Here are few ways to handle objections
• Being prepared for the objection
• Not exhibiting any kind of aggressiveness
• Justifying the reason politely without a loud tone
• Listen to the complete objection, then proceed with your reason
• Keep trying to convince the customer to purchase the product
Cold calling today is an essential part of marketing. It is diligently done by companies ranging from startups to fortune 500 companies. When done wisely, most companies get an exceptional ROI for these activities, and some still see cold calling as a failure.
The must-haves objectives for a making successful cold call
• Finding the potential customers needed for the product or service
• Having a good structural plan and action-ready
• Ensuring proper feedback and follow up