Once upon a time, cold calls and in-person sales visits were the primary sources of prospecting for business to business leads. But times have changed. Just as we have evolved in our methods and options of communicating (e.g. social media, email and drip marketing campaigns), so too has the use of the cold call. It is still an integral piece of your B2B lead generation efforts, but these days the cold call plays a different role.
While cold calling is still one of the most effective ways to qualify your list and identify the correct decision makers and their contact information, cold calls now can be used in conjunction with the other communication methods to add momentum to how quickly you reach your targeted prospects and generate sales. This article will lay out the structure and purpose of cold calls today, along with some of the approaches that I use to manage a campaign from start to end.
Anatomy of an Effective Cold Call Campaign
If you have the wrong name, it may take two, three, or five calls before you find out you have been barking up the wrong tree. Most lists begin to grow outdated after six months to a year, so when building your list, keep these critical components in mind so that you can correct gauge expectations. Companies like discover.org offer reputable lists - others on more of a budget might consider building their list manually by cross-referencing linked-in data, google searches and company websites.
In my experience, an effective B2B lead generation cold call campaign has multiple goals at various times throughout the call cycle. I recommend that three passes be made through a call list. During this process, the goal is to sort through the list and identify qualified leads for either now or in the future. This is a place where some salespeople will stop and start, but it is just the beginning to generate sales. I like to describe these initial pass-through’s as the “discovery” phase.
When working a list, don’t call more of a section than what you can complete in a week. You will “work” this section of your list for three weeks.
When calling, you will want to note details for speedier navigation through the reception or automated- attendant. Notes might include whether there is a heavy screen or what number to press for a directory of names.
You will also want to take down details that you discover in your calls—clues that might help you most effectively structure your call next time,(e.g. new receptionist, asks a lot of questions before transferring, or no voicemail options)–all of these details help you effectively streamline your future calls to this prospect.
Do leave voicemail messages when you can. On average, 85% of your calls will end up in voicemail, so it’s best to at least try to brand yourself to those that listen. If you have an email address to follow up with, by all means, do so. This is a very effective way to reach audience variables. Some people better communicate by phone, others by email–with this approach you expand your audience appeal and generate sales.
As you make your way through the list, speak to and categorize those that you can, note callback times for future follow-up and eliminate those companies that are not a good fit. I usually retain a separate list of dead ends, so that I can cross-reference new leads with this list and avoid duplicate efforts to companies or prospects that I have already disqualified.
During this time, you will also fine-tune your script delivery. Are we losing people after the first sentence? Do people tend to respond favorably to a certain email message?
For those that have opened an email three or more times or have visited any part of your web page, after the intial 3-call pass, I would follow-up once in a month, then three months and then back to six months to ensure no stone is left unturned. Timing is everything and your prospect may just not be quite "ripe" enough when you had initially called but could be sooner than six months.
In these initial passes, you will have talked to individuals and been given permission to add some to your distribution list. This list will then become the point of your drip marketing campaign in which you send something of value to these prospects. This helps them get a better understanding of what it is that you can offer them, essentially educating your prospect so that you can better help them understand the need for your product or service. This approach also helps create effective brand awareness whereby a prospect starts to sell on your behalf when you are not making calls to them. You want to make your prospect aware enough of who you are and what your company does so that when the Monday board meeting brings up the topic of needing your type of product or service, your name gets mentioned, and they contact you.
If you do not have many emails on your list, you can consider a drip marketing campaign through postal mail. The need of brand awareness to help your prospect grow in familiarity with who you are is still present. Yes, it will be more costly than email, which means that you should make it a goal to capture as many emails as you can on calls for lower marketing overhead. This calls for high-quality B2B lead generation.
You might even consider postal delivery of collateral in addition to the emails and phone calls, especially with hard-to-reach prospects. If you send a package or box in the mail to your decision-maker, odds are that you will bypass gatekeepers or executive assistants in the screening of the contents and land it directly on your target person’s desk. A creative tchotchke, some marketing collateral along with the comment that you will follow up, is a great way to get your contact to take your call, if for no other reason than to compliment you on the creative item that you put into the box to get their attention. Is he expecting your call? Of course!
Monthly grooming of your list
Each month, go through your list, adding more names as you process through others.
Contact prospects back in the month or several prior to their recommended call-back time that they suggested.
Revisit names six to nine months after the initial call if you have made three passes and not received a reply to voicemail or email. By this time, with drip marketing or any promo details, some of the companies will now start to recognize your name and you may have an easier time having a conversation with the decision-maker.
Telemarketing is the customized approach to what digital and print communication is not. Telemarketing helps a salesperson gauge interest, helps to categorize qualified leads and gives you feedback regarding your product or service. Most importantly, you have organic, live conversations that are far more effective than waiting for the phone to ring.
In no time you will have developed an effective follow-up tool for your sales calls.
Need help with prospecting calls? Contact Lead Savvy.
As a virtual extension of your sales team, Lead Savvy helps you identify and cultivate qualified decision-makers who can purchase your product or service. Hiring a professional prospector allows you to delegate the tedious, repetitive tasks of B2B lead generation and the rejection that comes with preliminary prospecting efforts so you can spend your valuable time focusing on your profit-making operations.
Independent assessments are available. Would you like to learn how to add momentum to your existing sales team’s prospecting performance? Lead Savvy's consultation services assist appointment setters in navigating the communications, training and strategy components of prospecting in such a way that their teams are productive and energized versus being dis-empowered and distracted.