Cold Calling Doesn't Work?

Quote:

Originally Posted by AZBroker

Assuming that the results of other's efforts will be similar to yours. Isn't that correct?

It's generally agreed upon that Referrals, as an example, have a higher conversion ratio than cold calls, ad calls, etc. but that doesn't mean these other methods don't work.

The only idea I've heard so far is that "Cold calling simply doesn't work in today's economy" which is a bit foreign and no harder to prove false than making a call.

AZBroker:

I can not argue with your conclusions. I just want to quote a few items from "Who Moved My Cheese" by Spencer Johnson, M.D. "
"Movement In A New Direction Helps You Find New Cheese." "When You See That You Can Find And Enjoy New Cheese, You Change Course." and finally " When You Stop Being Afraid, You Feel Good!"

Quote:

Originally Posted by hirschmann

AZBroker:

I can not argue with your conclusions. I just want to quote a few items from "Who Moved My Cheese" by Spencer Johnson, M.D. "
"Movement In A New Direction Helps You Find New Cheese." "When You See That You Can Find And Enjoy New Cheese, You Change Course." and finally " When You Stop Being Afraid, You Feel Good!"

Who said anything about being afraid? Cold calls can work well if you know how to make them work well. But they are just one method.

Quote:

Originally Posted by AZBroker

The only idea I've heard so far is that "Cold calling simply doesn't work in today's economy" which is a bit foreign and no harder to prove false than making a call.

The idea that cold calling doesn't work is known my most salespeople, primarily through their own experience and frustration.

Having said that, a major university study was done recently. It concluded that over 80% of executives absolutely do not take cold calls, under any circumstances (myself included). So if you're looking for concrete proof, or solid numbers, that's pretty concrete. I don't have it in front of me but I've posted it on my blog in the past and it can be found there.

Quote:

Originally Posted by NeverColdCall

The idea that cold calling doesn't work is known my most salespeople, primarily through their own experience and frustration.

Are most salespeople highly skilled in cold calling? If they are not highly skilled in cold calling then what weight does their experience or frustration add to the claim that cold calling doesn't work.

IMO, the statement "unskilled cold calling doesn't work in today's economy" is closer to the truth than the generalization that "Cold calling simply doesn't work in today's economy". Wouldn't you agree?

Quote:

Originally Posted by NeverColdCall

Having said that, a major university study was done recently. It concluded that over 80% of executives absolutely do not take cold calls, under any circumstances (myself included).

80% of which executives, Fortune 50, Small business, who? Where are these executives, the United States, Canada, Japan, United Kingdom, somewhere else? What about non-executive decision makers who buy insurance, automobiles, real estate, etc? Are these individuals and factors not part of the equation?

Is it really possible to exclude these individuals and factors and still view the generalization that "Cold calling simply doesn't work in today's economy" as a valid statement?

Quote:

Originally Posted by NeverColdCall

However ... even if you're satisfied with cold calling, would you make more money if you didn't have to spend your time making cold calls, and instead you simply had the leads coming in? Of course you would!

Mikey is right that sales is a numbers game meaning the more time you spend on calls with qualified prospects the more deals you are going to get. Wouldn't you agree?

Cold calling has its drawbacks but there are pros and cons to almost every method of lead generation. I couldn't agree with the idea that cold calling doesn't work because there are too many sales professionals cold calling successfully every day.

Here is a quote from Don Hobbs' post on RealBlogging called, "The Myth of Cold Calling".

Quote:

Unfortunately, I find that people who cold call as a primary prospecting tool wake up five or 10 years later still not owning their business. They have to keep making that next call, except now they're worn out and die a slow, painful death in real estate.

As I've said before, it's not that cold calling doesn't work. It can. And the broker was partially right when he said it's better to take action than watch the moss grow around you.

The point is this "doing the right things that leverage your time and allow you to nurture a business is the key. It's not about what you do, it's about what systems you put into place that can do for you.

Quote:

Originally Posted by Houston

...say anything you want to anyone you want and eventually you will get a sale...

THAT is working harder not smarter.

Quote:

Originally Posted by hirschmann

Read Chapter 2 of Frank's Book "Never Cold Call Again". He gives plenty of reasons why.

I have read that chapter before and I thought it gave common reasons for choosing other lead sources over cold calling not that it gave reason why cold calling wouldn't or doesn't work.

Quote:

Originally Posted by NeverColdCall

Self-marketing enables you to eliminate cold calling, have leads come to you, and give you 100% of your time to spend in front of qualified prospects.

I read somewhere that only 10-20% of all sales inquiries are sales ready opportunities.

Quote:

Originally Posted by Mustang

I read somewhere that only 10-20% of all sales inquiries are sales ready opportunities.

I'll take referrals over sales inquiries any day.

Quote:

Originally Posted by Marcus

I'll take referrals over sales inquiries any day.

You, me, and everyone else.

Cold Calling Doesn't Work?

Cold Calling Forum