Cold calling can be tough in today’s world. I wanted to share with you some insights into cold calling, one of the best methods of sales prospecting. In 2023, the practice is still alive and well, even though some may disagree. Many businesses continue to rely on it to generate leads and close deals. In fact, according to recent studies, cold calling is still responsible for more than 40% of all sales calls made, which is pretty staggering.

Are sales reps still using cold calling in 2023?

Now, you might be wondering: why bother with cold calling when there are so many other methods of prospecting available like social media, email, etc? The answer is simple: because it still works. Here are a few stats to back up that claim:

• A recent study found that companies with a well-structured cold calling program generate 60% more revenue per employee than those without one.
• Another study found that 82% of buyers accept meetings with salespeople who reach out to them proactively.

So, what does this mean for you as an SDR or BDR? It means that cold calling is still a valuable tool in your sales toolkit. But to make the most of it, you need to be strategic in your approach, and that where this 8 step plan comes into play.

8-Step Strategic Approach to Cold Calling

1. Research your prospect: Before making a cold call, it’s important to do some research on the prospect you’re calling. Look them up on LinkedIn, visit their company website, and find out as much as you can about their business and their needs. This will help you tailor your pitch to their specific needs and interests.
2. Plan your call: Think about what you want to say before you make the call. Write down a brief script or outline of what you want to cover. This will help you stay on track during the call and ensure that you cover all of the key points you want to make.
3. Keep it brief: Most people are busy and don’t have a lot of time to spend on the phone. Keep your cold call brief and to the point. Start with a quick introduction, explain why you’re calling, and then move on to the benefits of your product or service.
4. Be personable: Even though you’re making a cold call, it’s important to be personable and friendly. Start by introducing yourself and asking the prospect how their day is going. This will help to put them at ease and make the call more enjoyable for both of you.
5. Ask good questions: Ask the prospect questions about their business and their needs. This will help you to understand their pain points and how your product or service can help solve their problems. It will also help you to build rapport with the prospect and establish a relationship.
6. Listen carefully: It’s important to listen carefully to the prospect’s responses to your questions. This will help you to understand their needs and tailor your pitch accordingly. It will also help you to identify objections or concerns that you can address during the call.
7. Address objections: If the prospect raises objections or concerns, take the time to address them. Listen to their concerns and respond with empathy. Explain how your product or service can help solve their problems and overcome any objections they may have.
8. Follow up: Even if the prospect isn’t ready to buy immediately, it’s important to follow up with them. Send them an email or add them to your CRM system, most likely Salesforce or Hubspot, so you can continue to nurture the relationship. This will help to keep you top of mind and increase the chances of closing a deal in the future, and we ALL love closing more deals.

Explaining some of the steps in more detail:

First, do your research on the prospect you’re calling. This will help you tailor your pitch and make the conversation more relevant to their needs. Use the information you find to create a script or outline of what you want to cover during the call.

Next, be personable and friendly during the call. Start with a quick introduction and ask the prospect how their day is going. This will help to put them at ease and make the call more enjoyable for both of you.

Finally, follow up with the prospect after the call, even if they’re not ready to buy right away. Send them an email or add them to your CRM system so you can continue to nurture the relationship.

In conclusion, cold calling is still a valuable tool in sales prospecting. By being strategic in your approach and using the latest stats to inform your tactics, you can make the most of your time on the phone and continue to generate leads and close deals in 2023 and beyond.

Now that you see cold calling is still a valuable tool in a sales pro tool set, let’s look at some mock call scripts:

Example Cold Call Script 1: 

[Phone rings]

Kanye: Hello?

Joe: Hey Kanye, it’s Joe Logan. How are you doing, man?

Kanye: Joe, what’s up? I’m good, how about you?

Joe: I’m doing great, thanks. Listen, I wanted to talk to you about this amazing new software product I think could really help your business out in a big way.

Kanye: Okay, I am pretty busy, but what’s it do?

Joe: Well, it’s a project management tool that helps you organize all your team’s tasks and keep everyone on the same page. You know how hard it can be to keep track of everything, especially when you’re working on so many different projects at once.

Kanye: Yeah, that’s definitely a problem for us now…

Joe: Exactly. And this software solves that problem by giving you a centralized hub where you can see everything that’s going on, assign tasks to team members, set deadlines, and even communicate with your team in real-time.

Kanye: Okay, that sounds interesting. How does it work?

Joe: It’s really easy to use, and it integrates with all the other tools you’re already using. You can access it from your phone, your computer, or your tablet, so you’re always connected.

Kanye: Hmmm, that does sound pretty cool.

Joe: And here’s the best part: I’ve been using this software myself, and it’s been a game-changer for me. I know how much you value productivity and efficiency, and I think this tool can help you take things to the next level.

Kanye: Alright, Joe. You got me interested. Can you send me some more information about it?

Joe: Absolutely, I’ll send you all the details via email. I really think this could be a game-changer for you, Kanye.

Kanye: Thanks, Joe. I’ll take a look at it and let you know what I think.

Joe: Awesome, I appreciate it, man. Take care.

Kanye: You too, Joe.

[Call ends]

You see how Joe ended it by sending him the details via email? This is a good first step. Joe was also very personable which was good. Obviously not all cold calls will go this smooth. Here is another example of one that didn’t go so well and how to handle objections.

Example Cold Call Script 2: 

[Phone rings]

Kanye: Hello?

Joe: Hey Kanye, it’s Joe Logan. How are you doing, man?

Kanye: Joe, what’s up? I’m good, how about you?

Joe: I’m doing great, thanks. Listen, I wanted to talk to you about this amazing new software product I came across that I think could really help you out.

Kanye: Okay, I’m listening. What’s it all about?

Joe: It’s a project management tool that helps you organize all your team’s tasks and keep everyone on the same page. You know how hard it can be to keep track of everything, especially when you’re working on so many different projects at once?

Kanye: Yeah, I can definitely relate to that. But I already have a system in place for that. Why should I switch to your software?

Joe: That’s a great question. Our software is designed specifically for teams that need to stay on top of their tasks and collaborate in real-time. We offer a range of features that you won’t find in other project management tools, like automatic time tracking, advanced reporting, and team communication tools. And because we integrate with all the other tools you’re already using, you won’t have to worry about switching everything over.

Kanye: I see. But how much does it cost?

Joe: Our pricing is based on the size of your team and the features you need. But I can tell you that our pricing is very competitive, and we offer a range of plans to fit different budgets. And if you’re not satisfied with the software, we offer a 30-day money-back guarantee.

Kanye: Okay, that’s good to know. But I’m not sure if I want to invest in something like this right now.

Joe: I understand your hesitation, Kanye. But think about all the time and money you could save by using our software. You’ll be able to streamline your workflow, stay on top of deadlines, and collaborate more efficiently with your team. And because we offer a free trial, you can see for yourself how the software can benefit you without any risk.

Kanye: Hmm, okay. I’ll think about it.

Joe: That’s all I can ask for, Kanye. I’ll send you more information via email so you can take a closer look. And if you have any other questions, feel free to give me a call.

Kanye: Alright, thanks Joe.

Joe: No problem, Kanye. Have a great day.

[Call ends]

This shows some ways to handle objections, which you likely come across a lot in this line of work.

Well we have given you some structure for cold calling and provided some example calls to help you hit the ground running. Best of luck!

PS: Almost 80% of RepVue followers think cold calling will still be here in 2033!

Stat Sources:

The stat that companies with a well-structured cold calling program generate 60% more revenue per employee than those without one comes from a study by the sales training company, The Bridge Group. You can find more information about the study and its findings on their website: https://www.bridgegroupinc.com/

The stat that 82% of buyers accept meetings with salespeople who reach out to them proactively comes from a study by RAIN Group, a sales training and consulting firm. You can find a summary of the study’s findings on their website: https://www.rainsalestraining.com/