Over the past few years the transition from traditional outbound marketing techniques such as cold calling has shifted to a much more social-based inbound form of marketing. Instead of sellers having the majority of the power, it now lies in the hands of the buyer. For this reason, marketers must adjust their strategies to get customers down the sales funnel.
If this is the new reality, why are companies paying all this money for sales people to be good at cold calling?
Good question. They probably shouldn’t be. Don’t get me wrong, having sales people with decent communication skills is important to the success of a business, but they should be calling to find potential prospects, not trying to close the sale right then and there.
Cold calling is an extremely inefficient way to hunt for potential buyers. In today’s world, outbound techniques such as cold calling are becoming less and less relevant. Just as marketers are looking for new ways to reach out to potential customers, those same customers are looking for new ways to ignore them. With the introduction of caller ID, satellite radio, and spam blocking, consumers can now pick and choose when they want to be marketed to.
According to a few statistics from a recent Hubspot blog, it’s clear that there are more effective ways to market than cold calling:¹
- Doesn’t work 90.9% of the time
- Costs at least 60% more per lead
- Has a rate of less than 2% of phone calls resulting in a meeting
These aren’t exactly the statistics you want to see after putting in countless hours of random phone calls to people who could probably care less.
So instead of wasting your time and money cold calling people who are already trying to ignore you, I suggest a more efficient and effective approach known as inbound marketing. Instead of hunting for leads, inbound marketing allows your business to get found by prospects seeking your product or service. Through various channels such as blogging, SEO, and social media, your business is able to provide prospects with valuable content that allows them to engage directly with your business, thus drawing them into what your company has to offer.
With a successful inbound marketing strategy in place, your business will generate more leads and convert those leads into sales.
So before you sit down and start making useless cold calls, think about transitioning to an inbound marketing strategy. If you’re still not sure if your business can make the transition don’t worry, there are plenty of professional inbound marketing companies out there who can help!
¹ Hubspot, "Demand Creation Vs Cold-Calling"