Cold calling is one of the most polarizing lead gen strategies out there. Some deem it as a very effective way to drive revenue while some consider it dead. In reality, cold email is not dead at all. But, there are some right ways to do it.
Cold calling is the strategy of contacting prospects who haven’t had any prior interaction with the salesperson. It's a form of telemarketing that is very common and is also one of the oldest lead generation strategies. Salespeople boost their success rate by targeting the right prospects.
No, it is certainly not dead. Only the strategies have changed. It's still one of the top, if not the top, ways to connect with your prospects successfully. You can warm up your database by various outbound methods, but at the end of the day, you need to have someone pick up the phone to call the prospects that aren’t calling you.
Cold calling in sales is when a salesperson reaches out to prospects who were never contacted before in order to turn them into a customer. It's a technique sales reps have been following for ages.
This is a very important foundation step of cold calling. Beyond just following the line-by-line script that you prepared, this blueprint will help you keep track of your goals and set you on the right path. This is basically a way of clearly structuring your calls like when to do what.
TIP: According to InsideSales, Wednesdays and Thursdays are the best days to have a conversation on your first dial.
What challenges do you face with your business today and what would you like to improve about it?
These questions will help you understand your prospects’ most pressing priority. Then you can act accordingly.
The success rate of your cold calls will be a lot higher if you end them with a high note. Induce your prospects to make the purchase or give them something to contact you for at the end of the conversation.
Effective cold calling tips and script samples can actually improve your performance to a whole different level. Here are some general cold email scripts to help you get started. You can tweak them according to your situation.
The goal here is to let the prospects do the talking. Ask them open-ended questions to know more about them so you can figure out how your services cater to their benefits. Make it as personalized as you can. If possible, congratulate them on an award they recently achieved, or a milestone they passed. This would make them understand that you did your research and they would appreciate it.
You: Hello, is this “prospect’s name”? Prospect: Yes. You: Have I caught you in the middle of anything? [If the answer is no] Great. This is “your name” calling from “your company name”. You must be very busy, so I’ll be brief. I believe you are a “prospect’s occupation” and I know for a fact that you're pretty good at this. Congratulations on winning the _____. So, we specialize in working with ______. With your permission, may I ask you a few questions? [If yes]. What are the problems you face every day in this sector? Prospect: The prospect talks about his/her pain points. You: Would you like to improve anything? If yes, then what? Prospect: Talks about what he/she wants to improve in their sector. You: How do these challenges affect your business? Prospect: Prospect talks a little about it. You: From my understanding, what you are saying is, (summarize the prospect's problems, aims, challenges, etc.) Is that accurate? Is it okay to say that if there were a way to eliminate (one of your prospect’s major problems), you would be down for discussing it in detail? [If yes] Then let’s schedule a meeting to find out if there’s a fit. I’ll be answering all your questions regarding your problems and share with you several options that especially cater to your challenges. Which day are you free and what works for you, morning or night?
Prospect: Prospect tells you when to schedule the meeting. You: Fantastic. Looking forward to meeting you on _____. Thank you so much for your time. Have a great day!
As homeowners talk to multiple real estate agents every day, the chances of getting rejected are relatively high. Still, the FSBO prospect is a perfect lead for cold calling because you already know that they’re willing to sell now. You just need to convince them to select you as their agent. So, we’ve prepared a script along with some rejection responses to make you understand how to deal with it.
You: Hello, this is _____ from ______ brokerage. Do you have a quick minute? Prospect: Yes. You: Fantastic. If I’m not wrong, you have a house for sale in my coverage area. Are you currently cooperating with any real estate agents? Prospect: No. You: So, I was wondering how much you're asking for the house? Prospect: $300,900. You: If I knew a buyer who could be willing to purchase the house, would that be helpful to you?
Prospect: Yes. You: Awesome. So, should we schedule a time so that I could come by, look at the house and talk more in detail to see if I can find someone fit for it? I could also share some tips that we do to help FSBOs like you. Prospect: Well, you know, I wasn't really looking for a real estate agent. But if you find somebody, send them by. You: Sure, that's fine. But may I ask you why you don't want to hire a real estate agent? Prospect: I just wanted to save money. Even if the commission is 5/6%, it would be a lot for me.
You: I understand. Did you know 90% of the FSBOs I speak with say the exact same thing? If I say, we could arrange you with a deal of the same price or even higher by using our services, would you be okay with that? Prospect: Listen, we're just trying to break even. I've been transferred to Colorado and need to be there by next month. You: So, that gives you 24 days. If you can’t sell the house by then, what's your backup plan?
Prospect: Well, we'll just have to move. The house will be empty. You: That'd be a bummer. But, let me propose something to you. If I could sell the house, do it within 24 days, and have you break even, would you be down for it? Prospect: Yeah, sure. You: Let's meet then. I’ll see you at 5 in the afternoon. Prospect: That's cool. You can come over. You: Okay! See you then.
The goal is to get right to the point. This proves the prospect that you respect their time and intelligence.
Hey there. This is _____. A friend of mine, ____, referred me to get in touch with you. He/she told me that you have a ____ vacant position. I am currently a “your occupation”. Did “referral” have a chance to talk to you?
Alright. Just out of curiosity, how do you know him/her?
I saw that your company has been producing a lot of content lately. Do you mind telling me about the challenges you face in this sector?
Thanks a lot. Perhaps we can set an appointment to see how I can help you with those challenges. When are you free?
Awesome. See you then.
This was everything you could have possibly needed to know about cold calling. Now, all you gotta do is to have the resilience to get up every time you're rejected. Always remember that you're doing this to help people. So, what are you waiting for? Get started on your cold calling journey today!