The statistic quoted loudly by those who do not know how to cold call is this, “An industry rule of thumb holds that only about 2% of cold calls produce solid prospects.” That has been the industry stat since the early 1950’s and means any idiot can pick up the phone, call prospects, and expect to find that 2% of the people on the cold calling list to turn into solid prospects.
Successful sales pros know cold calling is a great way to build and add to a client base out of thin air.
The tremendous advantage of cold calling is this: No other marketing method allows sales professionals to reach as many prospects in as short a period of time.
Before your colleagues tries to lull you into believing, the 2% figure only proves that cold calling is a tactic with a low return on time spent, stop and do some focused thinking about the importance and value of cold calling metrics.
Fact is a 2% return is the very place where every expert cold callers start. 2% is the test number sellers know they can hit if they get up in the morning and make calls. These experts want great results; and make all sorts of adjustments that allow them to beat 2% in geometric proportions. How do they do this? By ruthless examination of additional metrics that have meaning to outrageously successful cold callers. Such as:
1. Percentage of appointments scheduled out of every 10 calls made.
2. Percentage of callbacks from voice mail messages
3. Percentage of appointment scheduled with callbacks from voice mail
4. Average number of calls made to each prospect to schedule an appointment
5. Differences in numbers of appointments scheduled with changes made in words spoken
The good news is your industry colleagues watch just one of these five important cold calling business metrics.
The bad news is you very well may be like most sellers who cold call and:
1. Settle for only one of five important cold calling metrics
2. Fail to leverage even that one metric into a higher response rate
3. Fail to capitalize on cold calling as a significant part of their sales strategy
You have got to ask yourself, are you going to be among the masses who settle for what’s been the norm for half-a-century? Or are you going to join the ranks of the elite sellers who examine their Cold Calling Intel to leverage the power and profit awaiting the serious student of cold calling? The answer to these important questions can dramatically change the results of your cold calls.