Ep. 340: 8 Stats That Destroy What You Thought You Knew about Cold Calls

Cold-Calling Techniques

Why dial blindly when data can point the way to cold-calling strategies that convert?

Who should listen: Sales professionals looking for ways to increase the effectiveness of their cold-calling strategies.

Key idea: The more often you place cold calls, the easier it will become and the more successful you will be.

If you’ve been listening to Stay Paid for any length of time, then it comes as no surprise to hear that we’re big fans of cold calling as a way to have an offline conversation with potential clients. Yes, digital marketing, direct mail, and social media are all necessary and great marketing strategies, but they all exist to create opportunities where you can literally speak with your next client.

We believe that, in sales, there’s simply no adequate substitute for human-to-human interaction.

During this Silver Dollar episode, we explain 8 statistics from a Gong.io blog that could very well change how you manage your cold-calling strategy. We share the numbers, but we also interpret their implications for successful calls. Below are some of the highlights from this episode.

1. Successful calls are almost twice as long as unsuccessful calls. It takes time to work your way through the various stages of a successful cold-calling script and build the necessary interest and trust that earn you the time to say your next sentence.
2. You are 6.6 times more likely to get a sale if you ask, “How have you been?” And, while it may be a subtle difference, asking “How are you?” won’t get you the same results. Listen to the episode to learn why.
3. If you boldly state the reason for your call, you’ll be twice as successful as someone who dances around the point. Think about this one for a minute . . . if you were on the receiving end of a sales call that interrupted your day, how much more likely are you to engage someone who tells you why they’re calling instead of someone who leaves you asking, “What’s this person’s game?”
4. You’ll hear successful callers use “we” 65% more often. Using “we” puts a team behind you. It suggests you’re bigger and more credible than the sole entrepreneur. Then, as the conversation progresses, you can incorporate your buyer into your “we,” making them a part of your solution.

In addition to these few statistics, we share:

• Words and phrases that will either increase or decrease your closing rate. (“Contract” will kill a deal.)
• The best days and times to make your calls. (The difference in a few hours is 164% more sales.)
• How critically important call response time is to a sale. (Wait 5 extra minutes, and you’ll decrease your rate by 400%.)
• Why persistence is the name of the game. (The numbers favor those who call at least 6 times.)

Please enjoy this episode, and we’d appreciate it if you would give us a 5-star rating and leave a review on Apple Podcasts. (Not sure how to leave a review? Click here.)

Connect | Resources

FREE e-book: Guide to Cold Calling