When it comes to cold calling has seen its own kind of popularity and has been existing right there as long as the existence of the phone. Cold calling involves a salesperson or sales representative of an organization who calls prospective customers to make a pitch to convert it into a closed deal.
Over the call, they have a conversation with the prospect to learn about their issues and offer a product or service which can solve their problem. Also, the word "cold" in the expression indicates that the call is entirely unsolicited or spontaneous. Here, the call receiver is unaware of everything or hasn't displayed any interest in the products or services of the company.
Further Reading - http://www.edgecrm.app/articles/7-simple-ways-to-handle-difficult-customers
And yes! This is the most difficult part of cold calling. In this method, it becomes tough to anticipate the outcomes because of the unsolicited or undemanded nature of the call. In the end, cold calling is unsuitable for every company, product, or service. Although, it is being utilized by B2B and B2C organizations accordingly.
So, in this article, we will talk about cold calling, its pros & cons, and cold calling scripts!
What Exactly Is Cold Calling?
In simple words, cold calling can be defined as a method of telemarketing. As mentioned above, the word "cold" is utilized because the calls are not made to the client based on previous conversations, and the customer is totally unaware of it. Cold calling is actually a traditional way of marketing products & services.
But, with modern-day technological advancements, many individuals say that "cold calling" has now taken a back seat and is no longer relevant! However, on the other hand, according to some industry experts, effective calling can still be an essential part of marketing and promoting the products & services of a company.
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If you want to consider cold calling as your next sales strategy, then you must also be aware of its benefits and disadvantages. Read the below-mentioned points to know more!
Advantages Of Cold Calling
Let's start with the advantages of cold calling:
1. Cost-effective & No Hassle
Yes! Cold calling is an economical and zero-hassle method of marketing your products. Various companies solely offer hassle-free telemarketing services to promote your products or services. Outsourcing might help provide expert Tele-calling services from trained, experienced, and knowledgeable technicians.
2. Sales Pitch Can Be Modified
Cold calling is a fantastic training opportunity for marketing and sales reps who have just started out with their professional career. This is so because it enables them to have a conversation with the end-users, know their needs & expectations, and pitch in the products or services in such a way that will increase the likelihood of a successful deal.
3. Target Calling
Target calling means directly calling the individuals you think are suitable for the typical customer profile. Customer profiling is created on the basis of demographic and geographic specifications. The right targeting can result in reaching out to the customers who have also been searching for what you are proposing. But a marketing strategy of calling is personal enough to make them interested in your organization. But apparently, it all relies on their across-the-board experience at the time of the call.
Read How edge CRM Helped Goldstab Organics https://www.edgecrm.app/customer-stories/speciality-chemical-manufacturing-giant-kick-starts-digital-transformation-with-edge-crm
Disadvantages Of Cold Calling
You know, there are a few aspects of cold calling that did not prove to be effective. And now, to eliminate these problems, industry experts and businesses have now modified the conventional way of cold calling. However, you must talk about the downside of cold calling; here they are:
1. Absence Of Professionalism
There is not enough content to regulate or control how two people interact with each other over the call. Their attributes or behavior may seem extremely unprofessional. However, following the professional way strictly may not lead the callers to their desired results. It is necessary to know the interest and emotions of the customer. In that case, a middle ground needs to be set up which does not seem too professional or unprofessional to the listeners and gives the caller enough space to pitch in their products & services.
2. Annoying For The Clients
One of the most annoying things to exist is receiving unsolicited cold calls. Almost everyone finds it irritating and senseless to have a conversation with a complete stranger about a product or service they are unaware of and do not require. Nonetheless, a possible solution for this issue is to opt for warm calling, where sales reps make calls to clients who have previously interacted with the company and have shown an equal amount of interest.
3. Fear Of Rejection
In order to boost the chances of success, the call should be made in an effective manner that involves professionalism, a positive attitude, and striking a note. But it is quite obvious that it becomes difficult or impossible to be optimistic after facing rejections in a row. After so much effort and multiple rejections, focusing on work for the caller gets stressful.
Here are a few cold-calling scripts that you can start with:
A) Hi (Prospect’s name),
I would prefer to keep it simple as I know you must be busy. Well, I have called to inform you that we specialize in (mention your specialization), and therefore, we can assist you with (mention the features of your product or service). If you have some time in hand, I Would like to ask you a few questions so I can identify if our offerings are beneficial for you. Would you be comfortable giving answers to these questions?
If the prospect agrees, you need to ask questions as follows:
Are there any difficulties affecting your company? If yes, what is that?
Is there any region of your product or service you’re unsatisfied with?
What are 3 three problems related to your product/service that you want to settle immediately?
B) Hello (Prospect's name),
This is ( name) from (your brand's name). I have called you to talk about our product (its name) with you and how it will be super helpful for you with the challenge you are facing right now. I yearned to get into a quick call with you to know more about this in detail. Also, you can reach out to me (your contact number).
C) Hi (Prospect's name), do you have a second?
If the prospect replies — “Yes,” go ahead with the following:
That's wonderful! I am sure you are a busy specialist, and I respect your time's value. Nevertheless, I just learned that your company (mention company's name) is going through a rough patch (name the challenge). If my research is right, your customers are also not satisfied or unhappy because of this particular challenge.
Am I right?
If the prospect says, “Yes, right, but..” then you must say that:
I completely understand your situation, and we can help you (mention your services specifically that will solve the prospect's problem). We have also assisted (mention other brand names and how you helped them) with the same kind of problem. They are now in a better place and have accomplished (talk about their results).
This conversation can last long, and if everything goes well, you can convert a new lead right there.
Further Reading - https://www.edgecrm.app/articles/what-is-smarketing-the-ideology-perks-and-steps
D) Hi (prospect’s name), I’m (your name) from (your organization's name). I have been in this industry for a really long time, and I would like to say that some of our clients believe in our products/services, including (name some of your clients & mention your products/services).
We have assisted them with (some of the crucial challenges). I was thinking I could put up an introductory call to learn more about your business and discuss how we can help you!
E) Hi, this is (your name), calling you from (your company's name). Coming straight to the point, I would like to know if you are presently searching for a solution to (the challenge the prospect is going through)? Our organization can help you with that! If you have some time, we can discuss this further.
You will probably receive a quick comeback against this cold call script. Nonetheless, the response can be one of these — “Yes” or “No”. So be prepared!
Watch Now - https://www.youtube.com/watch?v=547jzVBEMJA
So, what do you think about cold calling? Will it be useful for your business? Well, in the end, everything boils down to how you strategize & plan to utilize the cold calling technique, what is products & services you want to be calling for, and who is your target audience!