Imagine this– Person A is a subscriber to an xyz life insurance policy. He/she realize that the terms and conditions of the policy are not suiting his/her needs and are desperate to terminate the policy.
Then there is Person B who has just purchased a vehicle and are exploring options for the most suitable vehicle insurance policy.
One fine day, the former receives a call from an agent pitching about the benefits of a vehicle insurance policy while the latter receives a call for a subscription to a life insurance policy.
It should not be a surprise if the answers from both call receivers is a no.
This is the basic fault line of cold calling services that erode the chances of generating leads. But does it render this service non-functional or even worse, dead? Certainly no!
The fact below establishes the relevance of cold calling services in today’s era:
According to Rain Group, cold calls convinced about 82% buyers to meet salespeople.
Executives consider cold calling services as a cost-effective and a powerful tool to generate leads. Cold calling services has been around since 1873. However, it has changed a lot over the years. Therefore, it is essential to fix the focus on areas that can be tweaked to make cold calling more effective.
Here’s a look at 8 smart tips that will drive improvement in cold calling services delivery.
8 Smart Tips to Overhaul Cold Calling Services
Define your CTA– Do you want to invite the prospect for a webinar, invite them for a live demo of your products, or want to schedule a meeting with the salesperson? These are the questions that must be answered before dialing a prospect. This helps in bringing specificity in the call to action and defines the progress of the conversation with a prospect. This is a tried and tested method to keep the conversation concise, crisp, and more effective.
Create a highly targeted customer list– This is a crucial step to avoid the scenario mentioned in the beginning of this article. Doing a thorough pre-call research is extremely important to create a list of prospects that have a high potential of turning into loyal customers. Business intelligence software can help in a quick analysis of data of an individual prospect such as education, profession, interests, recent purchases. And if the prospect is a company, data such as recent press releases, customer overlap, competitive analysis can be parsed to create separate profiles of companies. This assists in highly targeted B2C and B2B cold calling services and a proper lead prioritization.
Salespersons state that prioritization of leads has generated a conversion rate that 49% greater than the average.
Do not be limited by call scripts– Keeping a well-structured cold calling script handy is good but that should not limit an agent’s spontaneity. Post introducing the company, the script should allow space for the prospect to express their interest or disinterest to take the conversation any further. Agents should ask more open-ended questions like “how would you like to try our product”. This will allow more room for a prospect’s response and help in better understanding their interests or reasons for their disinterest. They should go beyond the limit of the script and should be knowledgeable enough to respond to queries that are unique to the script. This helps an agent to build the trust and rapport with prospects.
Dial at the right time– It is crucial to research for the best time to get the company bigwigs on a cold call and bypass the gatekeepers.
50% of cold calls are answered by a PA or a secretary.
An essential part of cold calling services is to keep track of the activity time of prospects to understand when they are mostly likely to entertain a cold call. It is observed that the best time to call is between 3:00pm-5:00pm on a Tuesday and Thursday, where the call can last for about 5 minutes.
76% of salespeople state that setting a cold call at the right time improves conversion rates.
Use smart technologies– Using the right tools and techniques makes a big difference in cold calling services. Some of the must-use tools are:
- A cold calling software with a local number feature that lets agents to pick and choose among over 200 area codes to pose as a local to prospects.
- Tools that automatically finds the best time to make a cold call by tracking call connects.
- Tools that send alert as soon as a prospect opens an email. This improves the connect rate to 32%.
Better objection handling– Some of the most common form of objections and the way to deal with it are:
“How did you get my number?”
Agents should make no delay in reminding them of filling a form on your client’s website, requested for more information, or just have visited the website. Agents should express their intent to help the prospect to understand the company and their products better.
“Your products are too pricey.”
Agents must first acknowledge and agree to the prospect’s reservation about the price. It should be followed by the agent stressing on the long-term benefits and a clear expectation of ROI from the product.
“We are already subscribed to another vendor.”
Even though this leaves no hope of a potential conversion, but agents can still bank on this objection and gain some fruitful insights into consumer expectations. Questions like what made the prospects choose the product from another vendor, what are the things that they like about the product will aid clients to do an in-depth competitive analysis and make their product and services portfolio more consumer centric.
“Send me more information.”
This can be either be an objection or a genuine interest. In such a case, an agent should politely insist to deliver all the information in a concise way over a call or agree on sending information over an email and arrange for a follow-up call.
Schedule follow-up calls– Persistence is the key in ultimately getting a conversion. This makes setting a follow-up call an extremely important part of the cold calling services.
According to MAilShake, it takes at least two follow-up emails to boost the chances of getting a response to 22%.
Prior to setting a follow-up cold call, an agent must know the perfect time and the days that are feasible for prospects to respond to the call.
Leave a voicemail– The key to an upbeat voicemail is to directly hit the message after the introduction. Here are a few tips for an effective voicemail.
- Do not pitch a product directly in the beginning.
- Start with what a prospect will possibly want to know from an agent/the challenges they face that might motivate them to buy the product or the service.
- Bring a tone of urgency.
- Keep it brief within 20 seconds.
It must be remembered that the tips discussed above will not result in an instantaneous result. A regular and religious implementation of these tips in the cold calling services delivery will bring gradual but sure results that will set long term benefits for companies.
Who Are We and Why Does Our Expertise Matter?
Expertcallers is one of the leading B2B and B2C cold calling outsourcing companies. We utilize cutting-edge tools and our extensive industry expertise of over 12 years to generate niche sales scripts, run email customized email campaigns, and generate quality leads. The basis of our cold calling services is not to be pushy but more compelling that helps building the integrity of our clients.