Before explaining what cold calling 2.0 is, it is important to define what it is not. As ironical as it sounds, Cold calling 2.0 does not involve cold calling. Cold calling 2.0 means prospecting into cold accounts to generate new business WITHOUT using cold call as the first step. Here the prospect is first contacted via cold email and then it is followed by cold calling in the next step.
Cold calling 2.0 also involves processing and placing a system which leads to predictability. In other words, an organization would be able to predict how much output can it expect by putting in a certain amount of input. In fact, it has the potential of becoming the most predictable source of the pipeline within an organization.
As it is often said, necessity is the mother of invention; cold calling 2.0 also came into being because of the failure of dated methods of prospecting like cold calling. One of the biggest failures of cold calling was the inability to reach to the actual authority concerned. In a multi-level organization, there are so many persons who have the term “sales” or “marketing” attached to their job profiles, that it is difficult to ascertain who is responsible for what. If one is not able to connect to the right person in charge, how can there be a meaningful business conversation, let alone deciding on a deal.
This desperation led to a hunt for newer and more effective techniques and that is where cold calling 2.0 becomes important. Cold calling 2.0 involves proper research of the prospective clients. It does not believe in sending a bunch of emails or making numerous phone calls just because one has contacts. It requires proper targeting clients and ranking them according to priorities. Once thorough research has been done in that segment, cold calling 2.0 proceeds by sending short emails to organizations asking for information regarding the concerned authority and once this information has been acquired, the organization can now proceed with having a proper business conversation with the concerned authority. This method has actually proved to be very effective with a very impressive response rate.
However, there have been doubts about whether the increased pipeline will get translated into increased revenue? It has been proven that cold calling 2.0 has not only resulted in increased response rate and pipeline but it has resulted in something concrete like a remarkable increase in revenue generation. So much so that top-level companies have started developing teams and appointing more members to it for such new age prospecting.
The following points must be kept in mind with respect to cold calling 2.0 and the team dedicates to it
- Develop a proper team dedicated exclusively to cold calling 2.0 and impart proper training: Specialisation is the key when it comes to cold calling 2.0. Outbound prospecting team should be differentiated from Inbound leads team. A mixture of responsibilities will lead to drop in productivity. The outbound prospecting team must be properly trained and given their due credit
- Filter clients: What differentiates cold calling 2.0 from traditional cold calling is that it is not indiscriminate. Cold calling 2.0 involves proper filtering of clients , ranking them in order of importance and approaching them accordingly. Prospecting into the accounts of marginal potential is often a waste of time, something which traditional cold calling is guilty of doing. It is important to spend time in defining the ideal customer type for the organization, one who is most likely to purchase the good or service for maximum revenue..
- Mails instead of calls: Nobody likes to receive an unexpected call from an unknown person in the busy of a busy day. Hence, it is essential to stick to emails and in the same line, the emails must also be brief. However, if one must call, it should be for research purpose. The attempt of the call should be to know more about the company to see whether it’s a right fit rather than trying to sell.
- Use the right software: Each organisation is different and hence it is important to identify the software which will be the best fit for the organization’s need. Individuals must be trained properly to be able to extract the maximum use of the software.
- Use emails to warm your cold call: Cold email doesn’t necessarily replace calling. You still need to have a call with the lead to get a meeting. Cold calling 2.0 is a process to make this call warmer with an email preceding it. Instead of calling someone at unexpected time or situation, you talk to people who actually respond to your email showing interest and giving you time to share more information over a call.
Cold calling 2.0 can become extremely useful if used properly. It not only generates leads but also gives concrete results. It’s time we say goodbye to good old cold calls because as it seems, cold calling 2.0 is here to stay.
Geet Mehr – Cofounder Sellulose