Dialing for dollars, or cold calling operates on the theory that for every x amount of calls you place, a percentage will result in a meeting. Getting a meeting gives you better odds of creating customers.
Not surprising when you consider that 51 percent of B2B firms still prefer hearing from potential vendors by phone to establish that human connection. In the following article, we identify the six reasons dialing for dollars still works. Let’s begin!
1. Marketing Is a Numbers Game
If cold calling 100 people results in 12 meetings and one of those individuals becomes a client, then you know that one percent of your cold calls will lead to a conversion. That gives you the basis to know how many calls you must place to reach your target goals.
Marketing has always been a numbers game in this way. Cold calling helps you feel this in a way that is more tactile where you can exercise more control over your fate.
2. Cold Calling Helps You Naturalize Your Approach
Another reason why so many salespeople still use cold calling as a primary form of sales prospecting is that it allows them to refine their approach. Making four hours of calls per day, for example, might not sound like much fun.
The more we practice something, though, the better we get at it. And when we’re good at something, fun is often just behind it. Having a more natural demeanor when coming at customers will make you appear more sincere, knowledgeable, and confident.
3. Success Breeds Referrals
Once you learn how to cold call, you’ll eventually find success. Remember, it’s a numbers game.
Like your first $1 million is the hardest, your first sale is as well. In other words, it gets much easier after that, thanks in large part to referrals.
One satisfied customer will tell another who will tell another and so on. Pretty soon, you’re getting most of your business through word-of-mouth instead of having to grind it out with hundreds of cold calls every day.
4. The Only Expense Is Your Phone
Getting a solid sales call script in place is something that just requires mental energy. The time you spend at your desk making the calls does as well. Neither of these actually have a physical price tag on them, however.
If looking at low-cost ways to reach new leads, this is the way to go. That’s because the only cost you’ll pay is what it costs for your phone and data plan, but even that is tax-deductible.
5. Cold Calling Pairs Nicely With Other Forms of Outreach
Sending emails or arranging small, targeted advertising campaigns before your call is a good way to warm up your sales leads. They’ll know who you are before you ever make the first contact. This familiarity makes those awkward first conversations considerably less so.
6. B2B Cold Calling Is Scalable
B2B cold calling isn’t something you have to do on your own once you’ve got a good script in place. You can use vendors like SalesHive’s B2B cold calling services and price it into the cost of customer acquisition. That way, you can make even more calls with more exponential results.
Dialing for Dollars Still Works With the Right Approach
Dialing for dollars has been around for decades because it gets business owners results. If you still don’t believe it, try it for yourself and notice how quickly it can take off if you’re using a planned, organized approach. For more business and marketing tips, check out some of our additional posts!