Cold Calling has been used, reused and abused, and finally, the verdict is that it does not work anymore. However it is not dead yet, only it has been upgraded to what is being called Cold Calling 2.0. But before we explain what Cold Calling 2.0 is, let us take a look at its predecessor.
Cold Calling is a marketing technique where unsolicited calls are made in order to identify a potential client or customer. Everyone has the experience of receiving calls offering loans, phone connections or selling products and services that are not required. People who are at receiving the end of these calls find the technique invasive and annoying. The bigger issue with this technique is that it takes way too much time and is akin to finding a needle in a haystack by trying to identify potential customers by way of random calls. This is why it has not found much favor with sales teams. Cold Calling 2.0 is the answer to shortcomings of Cold Calling 1.0. It shows how to sell without Cold Calling!
The Cold Calling 2.0 technique is the brainchild of Aaron Ross, the author of the bestselling book ‘Predictable Revenue’.
Cold Calling 2.0 – The Concept
Cold Calling 2.0 is an upgrade over the traditional and somewhat ineffective Cold Calling technique 1.0. Cold Calling 2.0 also answers the most baffling dilemma of cold call or e-mail first. Under this technique, instead of sending an e-mail directly to the decision maker, it is sent to someone who is either a direct manager or someone who is high on hierarchical level/s over the decision maker. In the e-mail, a request is made to refer the mail sender to the right person. So Cold Calling 2.0 is essentially cold e-mailing which is then used to making contact with a person who would be interested in the product or service being offered. The secret to an effective e-mailing, in this case, is to keep content short and crisp. The mail should be easily actionable by way of a click or answer that does not take more than a few seconds. Some examples of clickable actions would be-
- Yes, I would like a call.
- No, we already have a contract.
- No, other reasons.
- Give me some details.
Benefits of Cold Calling 2.0
- The decision maker is already identified and therefore knows and is prepared for the call. Further, as the call or contact is expected, it does not displease the person contacted which is the case with Cold Calling 1.0.
- The agenda is set before the contact call which makes it more effective while taking a minimum amount of time.
- Since the reference comes from someone who is at the supervisory level and internal to the organization, the decision maker is more cooperative and interested in discussing business.
- It saves a lot of time for sales personnel who do not have to struggle with appointments and to reach the right decision maker.
- Sales teams can concentrate on closing deals and conversions.
- A negative reply ensures that sales team do not waste their time on leads that are not likely to convert. A ‘not sure’ reply can be chased after the lapse of a certain period.
Cold Calling 2.0 Process
The process of Cold Call e-mail marketing requires an organization to engage the services of specialist agencies. These agencies, in turn, have tie-ups with data providers who have a humongous data of contact emails, phone numbers and profiles with them. The sales team can share and define the profile of target companies, professionals along with overall data requirement and prospecting strategies. The profiles depend on whether the organization is planning to expand existing customer base, entering new markets or introducing new products and services. The agency then matches the data available with profiles provided. This matching ensures that the e-mails are sent to people who need products and services being offered, thus resulting in genuine leads.
An e-mail list of target customers is prepared based on the information above. Successful Cold Calling Techniques follow the top-down approach that helps in identifying decision makers and their supervisors. The emails are usually automated so that they do not take a lot of time and can be sent to many recipients in one go. However, it is pertinent to mention that personalized emails that address recipient are more potent than the once that are generally addressed. Actionable e-mail is sent to the contact list and according to replies received, further actions such as following are made:
- Contact decision maker based on the internal
- Cease contact after receiving a negative reply.
- Send more details of services being offered.
- Answering specific inquiries made.
Basically, the Cold Calling 2.0 process can be summed in the following five steps:
- Customer Profiling
- Lead Generation
- Outbound Email Marketing Campaigns
- Interest Generation
- Lead Forwarding
This process builds customer relationship enabling meaningful discussions later on. Appointments and meetings are set depending on the willingness of the potential client. Cold Calling 2.0 involves following genuine leads with customers and clients who are interested in the product and services being offered instead of the mindless chasing that Cold Calling 1.0 involved.
Cold Calling 2.0 is a more sophisticated way of lead generation and predict qualified sales leads. If you haven’t tried it, it’s about time you do!