Is Cold Calling DEAD? Part 2
Why is Cold Calling & Prospecting broken? There are three primary answers to that question.
1. Perhaps the most important obstacle is Ineffective Introductory Messaging.
A seven year marketing study by the Wharton School of Business showed that Marketing Results are Inextricably Linked to the Message. Bad message; bad result. Compelling message; good result. Here’s the problem when it comes to cold calling. The average salesperson calls with a bad message that sounds an awful lot like this, “Hello, Mr. Prospect, this is Jack Frisby with XYZ Corp. I’m calling to schedule an appointment to come in and take up some of your time in order to try to sell you something. Interested?”
Not going to happen is it? Here’s why.
The problem is that sellers across the board incorporate product benefit language in the cold calling stage of the sales cycle. The result is that they have what we affectionately refer to as “SALES STENCH”. The prospect smells the sales pitch a mile away and automatically resists the meeting request. The product benefit language that works well in the Presentation Stage, later in the sales cycle, becomes fatal when it’s used in cold calling. Think about it, is there anything in that message that would compel the prospect to want to take the meeting?
Now, administrative assistants are no different. They hear the product benefit language and because they are paid to chase off salespeople, the salesperson gets rejected every time.
2. The second Cold Calling Obstacle is Ineffective Objection Management. Quite frankly, in most cases the administrative assistant is better at chasing off salespeople than the salespeople are at getting past the gatekeeper. We see salespeople who just keep making make call after call and they’re just “winging it” over and over again. They don’t stop long enough to think through all of the objections that they have heard and to craft compelling, logical responses to these objections. This is what we mean by Objection Management. They just keep “winging it” and they keep getting their butts kicked. They are very ineffective at handling objections.
3. And then the third Cold Calling Obstacle is Ineffective Voice Mail Messaging.
According to research the call back rate on VM is usually less than 1%. Some sellers get voicemail as much as 50% of the time. So if they are getting virtually no call backs, literally half of their calls are totally wasted. Often times, they don’t even bother to leave a voice mail because they don’t expect it to get returned anyway.
So, in summary, Ineffective Introductory Messaging, Ineffective Objection Management and Ineffective Voice Mail Messaging are the three biggest obstacles to cold calling success.
In Part IIII, we’ll turn our attention to the good news: How to Fix Prospecting and Cold Calling.