It’s Time to Replace Your Cold Calling Strategy
Since the dawn of sales, cold calling has been the cornerstone of many a new business. This universally popular sales method is, without a doubt, one of the best tactics for modern commerce, but it does have its challenges.
For example, cold calling tends to eat up countless hours, days, even weeks of time that your high-value reps could be investing in other strategic activities. Putting top salespeople on the right projects (the ones that both challenge and magnify the unique strengths of the team) is a key move for management across all industries. So where’s the balance?
Long story short, it’s not that cold calling has gone the way of the dinosaurs. It’s our philosophies around how we implement a cold calling strategy that needs to face extinction. Here’s why:
Low-quality cold calling practices hurt sales effectiveness.
Low-quality cold calling practices can be attributed to growing demand placed on an already overwhelmed inside sales department. For companies who are just starting out or seem to be acquiring more customers than their current staff can handle–a great problem to have but a problem nonetheless–cold calling is an activity that often falls to the wayside.
So if your cold calls have all but frozen over, what are the best alternatives?
Focus on high ROI activities and outsource the rest.
Outsourcing your sales development could have a lasting impact on your cold call strategy and your company’s success for years to come.
Another reason your current cold calling strategy is doing more harm than good could be because of the lack of specialization within your department. Cold calling is a skill learned with experience, time, and highly specialized training. Increasing your staff size and hiring top talent is a great long-term solution but what about the upcoming quarterly goals you’re expected to achieve?
Having a dedicated team to locate, qualify, and connect with prospects gives your inside reps the freedom to focus on their highest ROI activities like nurturing relationships and closing deals. You’ll also save time and resources on otherwise expensive training, hours wasted on qualifying prospects, double checking contact info, making the actual calls, setting appointments, and following up.
Eliminate expensive, time-consuming sales automation technology.
Outsourcing sales development also does wonders for your budget in several ways. The first is trashing expensive sales automation software if it isn’t being used by your sales team. Besides the cost of the technology itself, fees associated with installation and subscriptions can really add up. Not to mention the time lost in training and adoption.
Even the buying process can burn through your finances. Evaluating software requires a highly qualified specialist with knowledge of latest features, unique components your company will need, and confidence in the likelihood that this specific product will fulfill your individual goals. Buying the software yourself could lead to a costly series of many trials and even more errors.
Having an outsourced sales development team is both time and cost efficient when compared to the rigmarole associated with software purchasing.
Integrate social selling and inbound marketing to align with the modern buyer.
Today’s modern buyer is more in control of the buying process than ever before. They are self-educated, independent, and resourceful. They receive information from multiple sources and rely heavily on their friends, family, and co-workers to help them make the best buying decisions. To attract the modern buyer you need to connect with them on their social networks, grab their attention with online content, and gain their trust by providing relevant messaging and helpful information.
Your top sales development representatives may not be experts in writing or graphic design, but they can certainly utilize social selling strategies to proactively identify and network with potential clients. Using an integrated marketing strategy to develop new business will not only make your sales reps job easier, it will boost their income.
Make your CRM the center of your sales development activities.
For businesses in high demand fields like technology (where high employee turnover is a given), you can bet the quality and consistency of the cold calls that do get executed are far lower than what’s required for competitive marketplaces. In fact, more than 40% of salespeople admit prospecting is the most challenging part of the sales process. Yet everyone knows that getting more clients in the door requires a dedicated amount of time every single work day.
This lack of confidence combined with employee overwhelm can lead to fumbled sales by even the most experienced team member. An outside sales development team has the manpower and resources to dedicate themselves to this task for you.
Besides executing most top of funnel procedures, your outside sales development team can easily share their work with your trusted CRM. With highly accessible client information and pre-qualified leads, performing timely follow-ups couldn’t be easier or more effective.
Automating your cold calling creates a reliable, low stakes sales model that is both highly scalable and easy to implement.
Set realistic expectations.
And then there’s human nature to take into consideration. Inside sales reps are often juggling entire accounts from start to finish with varying degrees of success. No matter how talented your staff might be, eventually one of two things will happen.
The first is burnout. Spending your day switching gears from prospect to prospect takes a toll on both willpower and energy. Help your employees stay focused on providing fewer yet higher quality tasks in a single workday. Outsourcing your cold calls goes a long way to achieving powerful productivity levels for any inside sales representative.
The second inevitable human folly that affects everyone on your inside sales team at one point or another is lethargy. No matter how much they love their job they know they are more or less secure if they follow through with tasks at a certain level of quality. In other words, they get a little lazy.
Find a proven sales development outsourcing partner who can demonstrate results.
An outside sales development team, on the other hand, realizes their day to day hustle is a make or break scenario for their relationship with you. They work with you the same way you’d expect your team to cater to clients of your own. Since they have something to prove, your outsourced sales development team has a much greater likelihood of surpassing even your greatest cold calling expectations.