COLD CALLING IS FAR FROM DEAD: Mastering the art of cold calling to secure more meetings.

Cold calling remains alive and well, despite common misconceptions. While dinosaurs and pagers may be things of the past, cold calling continues to be effective in sales.

How To Cold Call #1: The Opener

In order to make a strong impression with the opening of a cold call, it is crucial to introduce yourself effectively. For instance, consider the example of a 9-year-old named Eve who used to simply say, "Hi, my name is Eve." However, as you grow older, especially during the opening of a cold call, it becomes more significant. People who introduce themselves using their full name, like "Hi, Peter. This is Adrian Henke calling from XYZ-company," command respect.

Although Eve, being a 9-year-old, is not involved in sales and doesn't have a job, the same principles apply to you as a salesperson working for a legitimate company. Introducing yourself with your full name and company name adds importance and formality to your approach.

Furthermore, employing this tactic ensures that you, as the seller, maintain control of the conversation. The person who asks the questions holds the power, particularly in the context of cold calls. If you fail to provide your last name and company name, you may encounter questions such as, "Wait. Who is this? What company are you with?" This situation indicates a loss of control on your part.

How To Cold Call #2: The Pattern Interrupt

To create a memorable impact during a cold call, it is beneficial to use a pattern interrupt. Instead of directly asking, "How have you been?" as a genuine inquiry, the intention is not to inquire about the recipient's well-being. However, I genuinely hope you are doing well.

Surprisingly, when analyzing 90,380 statistics from cold calls, the opening line "How have you been?" outperformed all other approaches (following the introduction with first & last name and company name). In fact, it had a significantly higher success rate of 10.01%, which is 6.6 times better than the baseline.

The effectiveness of this approach lies in the fact that asking someone how they have been implies a prior interaction, even though it is a cold call and no previous contact has occurred. This unexpected question serves as a pattern interrupt, momentarily disorienting the prospect in a permissible manner.

Embracing the pattern interrupt technique can be your greatest asset in cold calling.

How To Cold Call #3: No More “Best practice”

When initiating a cold call, it is advisable to avoid a common "best practice" approach. Instead of starting the conversation by saying, "Hi, Peter. This is Adrian Henke calling from XYZ-company..." and immediately asking, "Did I catch you at a bad time?" it is important to note that this approach has its drawbacks.

In response to this question, the buyer, who has no prior interaction with you besides knowing your first and last name and the company you represent, might express gratitude, claiming it to be the perfect time for the call. They might even jokingly say, "I was just thinking to myself, when is Adrian Henke from XYZ-company going to call me? And then, BOOM, you called! Thank you so much. What's up?"

While it would be fantastic if all cold calls played out this way, the reality is different. Despite being considered a "best practice" and often taught to sales representatives, starting with the question, "Did I catch you at a bad time?" actually reduces the likelihood of booking a meeting by 40%. The success rate drops to a mere 0.9%, which means less than 1 out of 100 attempts result in a positive outcome.

How To Cold Call #4: State the reason for your call

When making a cold call, it is essential to clearly state the purpose of your call. For instance, you can say, "Hi, Peter. This is Adrian Henke calling from XYZ-company, how have you been?" Take a moment to listen and engage appropriately. Then, proceed by stating, "the reason for my call is..." followed by the specific purpose you have for contacting them.

This approach, which involves explicitly mentioning the reason for your call, has been shown to increase success rates by 2.1 times. By providing a clear answer as to why you are calling, you maintain control of the conversation. When you have already shared the purpose, it becomes challenging for the buyer to ask, "Wait. Why are you calling?" This helps put the buyer's mind at ease, ensuring a smoother interaction.

How To Cold Call #5: Targeted Value Proposition

Once you have gained the buyer's attention and they are still engaged in the conversation, it's time to deliver a targeted value proposition. This is the moment to make your pitch and effectively sell the meeting, which is the ultimate goal of a cold call.

While the term "pitch" may sound imposing, it is the perfect opportunity to explain why they can't afford to live without your product or service. Successful cold calls almost always involve some form of sales pitch. However, it's important not to come on too strong right from the start. Make sure you have covered the previous steps before diving into the pitch.

During this phase, you can take a bit more time compared to a typical non-cold call conversation. This is your chance to convincingly sell the meeting. Here's an example of how it could be structured:

• Mention their competitor: This demonstrates your understanding of the industry landscape.
• Describe their pain: Show that you comprehend their main concerns and what matters most to them.
• Deliver the value: Explain what they need to do to alleviate their pain points.
• Sell the meeting (without strings attached): Extend an invitation to a meeting without directly mentioning your specific product or service.

Using phrases like "You can judge that for yourself" is an effective way to sell the meeting rather than the product. It empowers them to make the decision and be in control.

If you need further inspiration, you can check out additional cold calling examples to significantly increase your meeting bookings.

How To Cold Call #6: No Discovery Questions

It's important to emphasize that a cold call should not be mistaken for a discovery call, even though it may seem obvious. In a discovery call, the focus is on listening, with a recommended ratio of 2:1 (listening to talking).

On the other hand, a cold call is primarily about talking and actively selling the meeting. This means there should be more talking and less listening during the call. Data indicates that successful cold calls have a higher talk-to-listen ratio compared to unsuccessful ones.

The top-performing sales representatives take charge and dominate the conversation during cold calls. They take on the responsibility of driving the discussion. It's advisable to save inquiry questions like "What are your top strategic priorities this year?" for a later stage, once the meeting has been secured.

How To Cold Call #7: The Closing Question

After putting in the effort and successfully engaging the buyer in the conversation, where you focused on selling the meeting rather than the product, it's time to finalize the arrangement. To schedule the actual meeting, use this effective closing question:

"Do you have your calendar handy?"

Once you pose this question, patiently wait for the buyer to put the call on their calendar. With this simple step, you can consider the task accomplished.

How To Cold Call #8: Agree On Next Steps

Once the meeting is scheduled and added to the buyer's calendar, it might seem like your job is done. However, there is one more crucial step: locking in the next steps.

In highly successful cold calls, it is common to spend additional time discussing the "next steps" towards the end of the conversation, following the confirmation of the meeting. In fact, in our analysis of successful cold calls, "Next Steps" accounted for nearly half of the sales conversation.

It's important not to rush through this phase. We understand that time can be limited, but it's vital to allocate sufficient time to discuss and define the specific next steps if you want to maximize your chances of closing deals.

If necessary, you can shorten your pitch to ensure you have enough time to thoroughly address the details of the next steps before concluding the call.

How To Cold Call Tip #9: Overcome Your Fear

To succeed in cold calling, it is crucial to overcome any fears or hesitations and push yourself to make one more call.

Persistence is a fundamental quality for sales representatives, along with having a resilient attitude. Cold calling is often a game of numbers, where the more calls you make, the higher your chances of achieving success. Making a greater number of calls translates to more opportunities for booking meetings and ultimately increasing your sales potential.