I'm constantly getting emails from people who insist that I'm wrong and that cold calling works. I'm sure a few people out there, maybe 1 in 100, are having success with cold calling. They think I'm misleading people with all my claims that cold calling doesn't work.
When I was still fairly new to sales, I cold called my heart out because I didn't know what else to do. It was the only thing I was taught, and to some degree, cold calling worked for me. The problem is that cold calling is extremely inefficient. It would take approximately 50 cold calls to get a qualified lead (not someone who was willing to meet with me out of idle curiosity). 1 out of about 5 of those bought. You can add up the numbers. A salesperson who cold calls will get sales but their income is severely limited by time constraints. You can only make so many cold calls in a day, week, or month, and the end result is that cold calling puts a rather low cap on your income. I survived for a while by cold calling but I never made any real money when I was still doing it, and I had to struggle to make my numbers every month.
My real success came when I stopped cold calling and started finding more efficient ways to attract prospects. In other words, I marketed myself instead of trying to cold call. The bottom line is that while cold calling will get some sales, it never gets enough and is, by far, the most inefficient way to prospect. As we move further into the Information Age, resistance to cold calling continues to increase and it becomes even more ineffective every day.