It's Time To Break Your Addiction!
Last week I wrote a guest article for a major business magazine, about my perspective on cold calling now that I'm a business owner & decision maker. I realized there are many great points in that article, so I'd like to share the major ones with you.
The first one is that as a business owner, cold callers never reach me. Ever. And the really bad news is that this is the case with nearly all decision makers! The reason why cold calling has such a low success rate, as a percentage, is because 4 out of 5 of us are unreachable. Period.
To make matters worse, it's now a common tactic for decision makers to dedicate a separate voice mail box just for cold callers, and guess what? It's never checked!
That's right. If you're wondering why your messages aren't returned, it's because your prospects never get them in the first place.
Is this rude? No, I don't think so. As someone on the "decision maker" side of the table rather than the "salesperson" side, our definition of rude is receiving a cold call in the middle of a busy day when we're already behind on work.
Another point to keep in mind is the statistic I love to quote, from the study done by the business school at the University of North Carolina that concluded that 80% of business decision makers in the US absolutely, positively will not buy as the result of a cold call.
Why is this important?
Well, aside from the obvious fact that cold calling is a waste of time, is the fact that 20% of those people will buy from cold calls. And therein lies the problem.
As long as those 20% are still buying from cold calls, salespeople will continue to delude themselves into thinking that "cold calling works!"
Seriously - the average success rate from cold calling is 1%, and among the very best of the best, it's 3%.
Three percent! But is this any surprise when only 1 in 5 decision makers will even respond to a cold call in the first place?
If that 20% of the market would just stop responding to cold calls, people would wake up to the fact that it's a zero-results game, and they'd finally give it up and do something more productive to generate leads.
But, I'm not complaining. As long as the majority of salespeople continue to cold call and keep on fighting each other over that 20% of the market, the rest of us are free to go out and close sales with the other 80%.
I titled this email "Break Your Addiction" because that's what cold calling is. It's an addiction. And as long as salespeople get a sale here and there from cold calling, the addiction will go on, and they'll continue to be afraid to stop cold calling and begin doing something different and better to prospect for sales.
So that's why it's time for you to...Break Your Addiction!
There's really no sense in continuing to cold call when even a university study concluded that 4 out of 5 people will never respond. That's pretty bad odds. And in terms of actual sales success, it's even worse than that.
Let the 1950s have their cold calling back and move on to modern, intelligent, effective methods of generating sales. (Hint: You're on the most powerful site for finding new customers right now.)
New York Times best-selling author Frank Rumbauskas is the author of the Never Cold Call Again® System and has won numerous accolades, such as Readers Choice for Business Book of the Year from 800-CEO-READ, and has been named one of Fast Company’s top 30 most influential people online. To learn more, and to download a free 37-page PDF preview of his Never Cold Call Again lead-generation system, visit NeverColdCall.com