Studies have found that the typical win rate for inbound leads is 1.5x-2.5x higher than outbound leads. So it’s no surprise that so many B2B sales orgs focus much more attention on maximizing inbound leads, and less time trying to make first contact with a phone call.
You don’t get much more outdated than using Alexander Graham Bell as a key part of your tech stack, right?
Wrong.
Ernest Owusu, Head of Sales Development Transformation at 6sense, and Nick Cegelski, Founder of 30 Minutes to President’s Club, recently got together to debunk some myths, share their experiences, and discuss best practices for cold calling in sales. You can watch a webinar replay of their conversation here.
Here are some of the key takeaways from that in-depth session.
The Value of Cold Calling
Ernest and Nick posed an intriguing question: Is cold calling dead?
Not according to the data. Nick discussed an in-depth research project with Gong that analyzed 300 million cold calls across their customer base. The findings indicated that an average salesperson, dedicating an hour every business day to cold calls, usually generated 2 meetings over the course of a month. Which is pretty abysmal!
But… the top quartile salesperson netted an average of 18 new meetings a month.
In addition, cold calling doubled the cold email response rate. Thus, cold calling retains its value for committed salespeople — especially when you use the techniques of the top quartile of sellers.
Role of Targeting in Cold Calls
According to Nick, pinpointing accounts and individuals with the highest probability of purchasing is of paramount importance in cold calling. Using 6sense or similar predictive tools to identify buying intent signals from accounts and contacts is a big help.
But it’s not just about calling the right people. Top cold callers also know what to say, and it’s not generic openers like “I hope you’re having a good day” or “Is now a good time to talk?”
Nick recommends a “tailored permission opener,” which opens with the context of the call, owning that this is a cold call — but a well-researched one — and getting permission to make your pitch. Disarming prospects with honesty differentiates oneself from ordinary telemarketers.
Preparing for A Cold Call
Cold calls need to be personal.
Start by considering the persona you’re calling — who they are, what they need, and the problems your solution solves. Dive deeper by researching recent company activities such as new office openings, product launches, or job postings.
Use these insights to craft tailored pitches that resonate, leading with specific pain points.
For instance, if you are selling billing software to a law firm that recently opened a new office, you could highlight the increased tax and accounting complexity they might face.
With the right research and tools, you’ll turn cold calls into meaningful, results-driven conversations.
Win by Getting Your Hands Dirty
Cold calling isn’t fun. Even the best cold callers get rejected a lot. There’s no amount of preparation that will force people to pick up the phone and not be rude. That’s why a lot of sellers avoid cold calling — and why it can be so effective.
As Nick shares, nervousness is normal. But nerves thin the number of people making cold calls, and that creates a big advantage for the people who are able to plow past their anxiety.
Amplifying Connect Rates and Dealing with Gatekeepers
One secret for getting people to pick up the phone? Call their direct line. Company dial directories are the kiss of death for reaching people. Use mobile lines and direct numbers. If you don’t have a direct number, use a contact database to get one.
When you do have to deal with gatekeepers, they suggested the “triple bypass” approach:
- The Slide By: When the gatekeeper answers, simply ask to be connected to your prospect using only first names. For example, “Hey, could you get me over to Aubrey? It’s Nick.” Avoid small talk, company names, or product pitches.
- Share Context: If the gatekeeper asks for more information, provide context related to your reason for calling. For example, “It’s about the new office opening in Tacoma. Could you get me over to him?” Lean on your research and end with a question to keep the pressure on the gatekeeper.
- Lean on Social Proof: Leverage your mutual contacts and other brands. For instance, name drop a brand you’ve recently worked with to solve an issue your prospect is probably facing, then ask if they’d like to explore a similar solution.
This approach aims to make you seem like someone who “belongs” and should be put through. It leverages the fact that a gatekeeper’s job is not only to block unwanted calls but also to connect legitimate ones.
Conclusion
Together, Ernest and Nick shared the value of persistence, preparation, and data-driven approaches to boost the ROI on cold calling.
Also, Nick and Ernest gave insights on how using predictive tools and techniques can streamline the cold-calling process.
Embrace their insights and navigate your way to much deserved success in your sales endeavors.
