One of the most popular marketing strategies is cold calling. Back in the days when the internet was barely invented, cold calling had become the go-to option for marketers to promote their products.
However, as the technology develops, many are moving on to modern marketing techniques that require less direct contact with customers. Such strategies are highly connected to the advent of the internet and social media platforms today. For example, many release product demo videos on social channels to attract the audience and engage with them.
Still, there are many businesses that employ cold calling as an effective means to reach their target audience.
Cold calling is the process of contacting people who are not actively looking for your product or service. It is one of the most effective ways to reach out to potential customers, but it can also be very challenging and intimidating for many people.
If you want to use cold calling as a marketing strategy, you need to consider some important factors first. This includes the best time of day to call as well as the best way to make sales calls. Here are some tips that you can use when making your sales calls and tracking them:
1. Identify your target audience
One of the most important things about cold calling is identifying your target audience first. You need to know what types of people would be interested in your product or service and how this group can benefit from it. If possible, narrow down your list by creating a profile based on personal characteristics such as gender and age range, as well as professional and financial status.
2. Determine your approach
As with any sales strategy, you need to determine the best approach to use when making sales calls. You can choose between a direct approach or an indirect one. For instance, if you are selling home improvement services, using a direct approach may be more effective since your audience is most likely looking for ways to improve their home.
On the other hand, if you are selling luxury goods or services such as yacht chartering, using an indirect approach, such as giving presentation videos may be more effective. Your target audience tends to have higher disposable income and can afford high-end products and services.
3. Strategize your timing
There are certain times of the day that are more appropriate for cold calling than others. For example, early in the morning is usually not a good time because many people will still be asleep, while the late afternoon is also not a good time because many people will already have left work for the day by then. The best times to make a cold call are usually around 11 AM – 2 PM and 5 PM – 8 PM.
There are also certain days of the week that are better than others. For example, Mondays and Fridays tend to be less effective because people will be more focused on getting their work done for the week and may not have time to deal with any sales calls.
Tuesdays, Wednesdays, and Thursdays tend to be better since these days are usually more relaxed and casual. The best day of the week for calling is usually Wednesday since most people will be in a good mood following the weekend.
4. Know your product or service inside out
Most salespeople will tell you that knowledge is power when it comes to making sales calls, especially when you’re selling something new or different from what your audience may already know about.
If you don’t know everything about your product or service, how can you expect your target audience to trust you enough to buy from you?
Before making a call, make sure that you understand what you will offer to your customers. That way, people will trust you and consider your call as a helpful guide to those who barely know about your product.
5. Be friendly and likable
You may have mastered the art of making sales calls, but if you don’t have the ability to win over your target audience, it won’t matter how good of a salesperson you are. Salespeople who can connect with their customers on a personal level will always be more successful than those who can’t relate to their customers’ needs and interests.
Before making a call, think about what kind of person would be most receptive to your offer and try to adjust your personality accordingly so that you can easily connect with potential customers on the phone.
6. Embrace rejections
Rejections are part of the process when it comes to making sales calls. You can’t be successful if you get discouraged by rejections. The key is to know how to handle rejection and move on.
If you’re not getting a positive response from your target audience, it’s important that you ask them why they are rejecting your offer. You can then use this information in order to better serve and market your product or service in the future campaign.
Cold calling can be a very effective way to generate sales leads, but it’s important to remember that it can also be an extremely challenging and stressful experience. If you’re struggling to get results from cold calling, then you may need to reevaluate your strategy or consider using a different approach altogether. Before making a call, it’s critical that you know your audience first and find the right time to get on the phone. Identifying your prospects can help you prepare an introduction as well as conversation tones to match their personas. By preparing these steps above, you can perform a better cold call that converts.
“Measuring is easy”, said no one ever
Understanding the role that each touchpoint plays in a conversion is crucial for budgeting, allowing devotion of funds to the most effective touchpoints while diverting funds away from ineffective channels.
Multi-touch attribution models have been proven ineffective for two reasons:
- the platforms are sealed off from each other in terms of attribution;
- the models are not good at tracking the real-life, messy-middle, customer journey and thus provide unreliable feedback.
At Booster Box we have built “MMMMachine – Marketing Mix Modeling Tester”, a terrific weapon to combat this, accurately measuring the value of different marketing efforts.
The cookieless wasteland
Source: Vyshnavi Bisani, Unsplash
The advertising world must face the change that the cookie apocalypse is bringing. As of now, almost half of open web users’ actions are untraceable on Firefox and Safari. This number is bound to increase with the upcoming loss of third-party cookies.
Faced with this situation, it is essential to safeguard the performance of marketing campaigns and limit any disruption to tracking and revenue. Unveiling the real path to conversion through Marketing Mix Modeling (a.k.a MMM) is a viable, ready-to-use solution in a landscape of new privacy norms.
Understanding incremental value
Source: Booster Box Photoshoot
Ad budgets don’t grow on trees or fall from the sky. Therefore, investing in ads where customers would have converted anyway, and/or investing in non-converting campaigns is a huge mistake and waste of resources.
Marketing teams who are keen to allocate capital efficiently are always at the frontline in the battle to understand incremental value, cross-channel impacts and marginal returns.They make data-driven ad spend decisions accordingly.
Not a pipe dream
A marketing team’s main ambition is to be able to forecast the likely outcomes when deploying a specific set of tactics, thus reducing any deadweight loss by reallocating inefficient spend to the most effective touchpoints. This can be achieved: with a lot of science, data analysis and modeling- three areas Booster Box excels in.
Come and see me present on this topic in more detail at Hero Conf London.
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