Comments on: The Abusive Math of Cold Calling http://www.ducttapemarketing.com/blog/2010/07/16/the-abusive-math-of-cold-calling/ Small business marketing blog Thu, 21 Apr 2011 08:39:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: advice_engine (Nicholas G Torre) http://www.ducttapemarketing.com/blog/2010/07/16/the-abusive-math-of-cold-calling/#comment-413957 advice_engine (Nicholas G Torre) Tue, 27 Jul 2010 00:25:48 +0000 http://www.ducttapemarketing.com/blog/?p=6341#comment-413957 RT <a rel="nofollow" href="http://twitter.com/samrichter">@samrichter</a>: The simple math on Cold Calling. Phone only -- 2% success. Get a referral -- 40% success. Learn more: http://bit.ly/dj3sbO RT @samrichter: The simple math on Cold Calling. Phone only — 2% success. Get a referral — 40% success. Learn more: http://bit.ly/dj3sbO

]]> By: Paul L'Acosta http://www.ducttapemarketing.com/blog/2010/07/16/the-abusive-math-of-cold-calling/#comment-413939 Paul L'Acosta Sat, 24 Jul 2010 10:27:02 +0000 http://www.ducttapemarketing.com/blog/?p=6341#comment-413939 John, even though I hate to be the nth person saying it, I'd have to say I don't believe in cold calling as a sales tactic either. However, I do believe in it as a training tool as it polishes your skills and forces you to really think about your business idea and what it does for your customers. So I say that the recipient of that one cold call can be considered just a casualty of war... I mean, training. Thanks John! John, even though I hate to be the nth person saying it, I'd have to say I don't believe in cold calling as a sales tactic either. However, I do believe in it as a training tool as it polishes your skills and forces you to really think about your business idea and what it does for your customers. So I say that the recipient of that one cold call can be considered just a casualty of war… I mean, training. Thanks John!

]]> By: Jeff http://www.ducttapemarketing.com/blog/2010/07/16/the-abusive-math-of-cold-calling/#comment-413926 Jeff Fri, 23 Jul 2010 07:19:35 +0000 http://www.ducttapemarketing.com/blog/?p=6341#comment-413926 I have read several marketing books, as I am getting into the business. Cold calling is clearly one of the most foolish things you can do. I am currently reading "No More Cold Calls," By Dr. Jeffrey Lant. What you need to do is get a list (rent one, use a directory, brute force it and compile one yourself) and start with some direct response marketing. This can easily be measured for profitability and is a great way to gauge response rates and get started in your network building. I have read several marketing books, as I am getting into the business. Cold calling is clearly one of the most foolish things you can do. I am currently reading “No More Cold Calls,” By Dr. Jeffrey Lant. What you need to do is get a list (rent one, use a directory, brute force it and compile one yourself) and start with some direct response marketing. This can easily be measured for profitability and is a great way to gauge response rates and get started in your network building.

]]> By: Nigel http://www.ducttapemarketing.com/blog/2010/07/16/the-abusive-math-of-cold-calling/#comment-413922 Nigel Thu, 22 Jul 2010 22:35:14 +0000 http://www.ducttapemarketing.com/blog/?p=6341#comment-413922 John,<br><br>I pioneered a methodology called Social Calling (TM) that I've been presenting and training sales people on for 2 years using the approach above.<br><br>My data is cold calling 100:1 dials to one appointment, Social Calling 12:1 - now I agree with Mahan (who I know) that my Social Calling data is actually a little pessimistic. Outcome from my math therefore is an 8 x improvement using the referral mechanism (Social Calling bakes in the concept of trigger events too but the referral is the biggest improvement factor).<br><br>Nigel John,

I pioneered a methodology called Social Calling (TM) that I've been presenting and training sales people on for 2 years using the approach above.

My data is cold calling 100:1 dials to one appointment, Social Calling 12:1 – now I agree with Mahan (who I know) that my Social Calling data is actually a little pessimistic. Outcome from my math therefore is an 8 x improvement using the referral mechanism (Social Calling bakes in the concept of trigger events too but the referral is the biggest improvement factor).

Nigel

]]> By: Geraldine http://www.ducttapemarketing.com/blog/2010/07/16/the-abusive-math-of-cold-calling/#comment-413912 Geraldine Thu, 22 Jul 2010 07:25:37 +0000 http://www.ducttapemarketing.com/blog/?p=6341#comment-413912 Interesting post. It got me thinking...<br>1) Why not do it the other way around? Instead of looking for the profile of your prospects on linkedin, look for the connections of your existing customers and see which ones match your ideal customer profile (yes, I've read Duct Tape:))? Could that possibly take less time? That said, I'm not sure it would work for someone like Alyssa. <br>2) Mind you, I still believe in cold calling - when done properly. I think it forces you to articulate your value proposition very clearly (yes, I've read Jill Konrath too :)) and it forces you to accept rejection, which is part of doing business. So, in my mind, this is a good tactic to better prepare your calls (see your common acquaintances, etc.) but it doesn't mean you should drop cold calling alltogether. Besides, it is not because someone is part of your LinkedIn connections, that this person feels comfortable referring you. Interesting post. It got me thinking…
1) Why not do it the other way around? Instead of looking for the profile of your prospects on linkedin, look for the connections of your existing customers and see which ones match your ideal customer profile (yes, I've read Duct Tape:))? Could that possibly take less time? That said, I'm not sure it would work for someone like Alyssa.
2) Mind you, I still believe in cold calling – when done properly. I think it forces you to articulate your value proposition very clearly (yes, I've read Jill Konrath too :) ) and it forces you to accept rejection, which is part of doing business. So, in my mind, this is a good tactic to better prepare your calls (see your common acquaintances, etc.) but it doesn't mean you should drop cold calling alltogether. Besides, it is not because someone is part of your LinkedIn connections, that this person feels comfortable referring you.

]]> By: Doug Strahm - Oakcrest http://www.ducttapemarketing.com/blog/2010/07/16/the-abusive-math-of-cold-calling/#comment-413910 Doug Strahm - Oakcrest Wed, 21 Jul 2010 20:00:33 +0000 http://www.ducttapemarketing.com/blog/?p=6341#comment-413910 In the first line of my post it says, "...when done properly...". Unfortunately, it is rarely done properly.<br><br>Yes, there are a few prospects that will get all spun up when you leave them a message, or actually get them on the phone, but the world has its share of people that are just wired to get upset - at anything. The experience of my clients, my sales teams, and myself have proven that when done correctly, it produces results that would never have been realized otherwise - and rarely leaves any "muddy footprints." The real proof is when you have a prospect say, "I'm really glad you called. Your timing is perfect." If you are not getting that on a regular basis, then it's being done incorrectly. In the first line of my post it says, “…when done properly…”. Unfortunately, it is rarely done properly.

Yes, there are a few prospects that will get all spun up when you leave them a message, or actually get them on the phone, but the world has its share of people that are just wired to get upset – at anything. The experience of my clients, my sales teams, and myself have proven that when done correctly, it produces results that would never have been realized otherwise – and rarely leaves any “muddy footprints.” The real proof is when you have a prospect say, “I'm really glad you called. Your timing is perfect.” If you are not getting that on a regular basis, then it's being done incorrectly.

]]> By: ducttape http://www.ducttapemarketing.com/blog/2010/07/16/the-abusive-math-of-cold-calling/#comment-413908 ducttape Wed, 21 Jul 2010 17:52:19 +0000 http://www.ducttapemarketing.com/blog/?p=6341#comment-413908 The part I can't reconcile Doug is the damage you do to your brand and your personal reputation to the masses that hate to be cold called and might likely write anyone off that does it - I'd say that's the majority these days. The part I can't reconcile Doug is the damage you do to your brand and your personal reputation to the masses that hate to be cold called and might likely write anyone off that does it – I'd say that's the majority these days.

]]> By: ducttape http://www.ducttapemarketing.com/blog/2010/07/16/the-abusive-math-of-cold-calling/#comment-413907 ducttape Wed, 21 Jul 2010 17:50:46 +0000 http://www.ducttapemarketing.com/blog/?p=6341#comment-413907 It is a only a bit of one - if cold calling equals terror then you'll never succeed at it anyway, so focus on the network building and start going out of your way to make referrals to others and you'll soon see the results It is a only a bit of one – if cold calling equals terror then you'll never succeed at it anyway, so focus on the network building and start going out of your way to make referrals to others and you'll soon see the results

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