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17 May 09 Cold Calling: Is It Worth the Effort?

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Yes, if it’s done right then it is worth the effort. Cold calling is one of the most cost effective and widely used lead generation techniques. Indeed, there are many much more effective ways of lead generation, but the utility of cold calling cannot be ignored.  If you are running tight on budget, cold calling can help you getting your foot in the door, and from there you can begin your elevator pitch. Cold calling can be more effective than any other means of communication in the following three situations:

Introduction: There are situations in which cold calling is more effective than any other technique. If you are new in the market, and you want the clientele to take notice of you then you can consider using the cold calling techniques. Unlike introductory e-mails, a call to one of your prospective clients will buy you at least 10-15 seconds before they hang up. Use these 10-15 seconds to introduce your business, and if the call continues ask for 45-50 more seconds to discuss the things in detail. Use the time allotted to you very wisely. You do not need to supply all the essential detail in this 45-50-second time, just power pack the allotted time with an objective to fix a meeting by building interest in the services or products you are offering.

Database Tuning: A reply is not guaranteed when you send an e-mail to a random person from your database. The chances of your e-mail landing directly into trash bin are quite high, but when you make a call the person on the other end has to reply with either a yes or no; at time, people may be rude and just hung up the phone, nonetheless, you got the answer you were seeking. Use it to clean up the garbage from your database.

Sales Qualification: Use cold calling to see if your prospect is in the frame of mind to receive your salesperson or not. Given the complexity of sales life and the demand put on the organization’s resources (time, money and effort) cold calling can save hundreds to hundred thousands of dollars. This of course depends upon the size of your organization and resources you allot to prospecting and lead generation.

Be pushy and you lose the customer. This is guaranteed. No one likes pushy salesperson. Can you think of any more way in which we can use cold calling effectively? Write into the comment box below your inputs and suggestions. In the next article on cold calling, I will be giving a framework for a typical cold call.

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