Cold Calling Is Dead For These 2 Underlying Reasons
Old school sales people will fight you in the street about this, but I think cold calling is completely dead. The usual argument against this is that sales people 'these days' are afraid to pick up the phone and get dialing, but I think the reality, however, is that modern sales people have figured out that there are more efficient and effective ways to get the job done and the others are terrified that they are right and won't be able to keep up.
There are endless stats on how it is dying from poor conversion, engagement etc., but the following are two deeper reasons driving these results, in my opinion.
‘On Demand’ Society
We live in an 'on demand' society and we expect everything to fit our schedule. At any given moment, we have access to everything we need right in our pocket:
Need a cab? Pocket.
Need a flight? Pocket.
Need a job? Pocket.
Need wealth management advice? Pocket.
If I need wealth management advice, I will either go back to an email that caught my attention or just search for the most reputable-looking vendor on Google and arrange a call from there at a time that suits me. Even though I know the person on the other end of the phone is just doing their job, I find it infuriating when I am called out of the blue about something that could have been emailed to me to review in my own time.
Reputation In Freefall
Nobody wants to make cold calls any more. Nobody. A Sales Development Rep who tells you that they love making 100 dials a day is completely full of sh*t; they are doing it so that they can progress to Account Executive level and never have to do it again. It is now seen as a right of passage for your first year or two as a sales professional and, following that, to be left forever more to the latest batch of recruits.
The result from this is that the only people now making cold calls are junior sales people and this is radically different from previous generations where senior, experienced sales people were doing this. Cold calling’s reputation has been in freefall for the past decade, and every call made from a 21 year old trying to sell something that they know nothing about just inches that reputation closer to the floor in society’s eyes.
What To Do?
Cold calling is incredibly time consuming. It doesn’t matter if the labour is relatively cheap and you are using junior sales people, it is better to repurpose that time into a more scalable and efficient approach. Feel free to keep poking and prodding people with interesting and genuinely personalized emails, LinkedIn messages, remarketing campaigns etc.; if it is compelling enough and it’s something that people are in the market for, they will book time with you and be far more likely to convert.
Just don't call people out of the blue while they are having lunch to ask them if they’re interested in buying an off-plan property in Dubai…
Think it's time for something better? A lack of time and resources is usually the enemy of effective outreach campaigns and that is where Leadable comes in. Book a call with us today to see if we can help your sales team to consistently hit their targets.