With only 1% of cold calls turning into meetings, it seems like cold calls should be a thing of the past. However, cold calling for B2B isn’t going away anytime soon: it’s cheap, immediate, fast, and easy. Looking at all the benefits cold calling has to offer, the 1% success rate seems alarming. Simply put, sales people aren’t being trained properly. By changing the way you view your cold calling as an opportunity to sell your product and seeing it as a way to provide a solution, you’ll see significant improvement in your success rate.
So, when is the best time to call?
For any sales person wanting to improve their call-to-meeting success rate, knowing when to call is crucial. Before researching prospects, preparing, and selling your pitch, you need to know when to make the actual call! Chances are calling at 8:00 AM on a Monday might not be your best bet.
The best day to call prospects during the week is either Wednesday or Thursday. By calling in the middle of the week, your prospects will be settled into the work week with pressing matters usually taken care of. The worst days to call are Monday and Friday. Monday is the busiest day for many prospects. When Friday comes around, they’re less keen on building relationships and more on focused on their weekend plans. The number of calls achieved from Monday to Wednesday increases by 46% on average.
The best time to call potential leads is between 11-12 PM and 4-5 PM. Earlier than 11 AM is when employees are focused on pressing matters and meetings. After 11 is the perfect time to call as people are less likely to start new tasks before their lunch. 4-5 PM is also ideal because people have finished most tasks and have more time to talk.
Now that you know when to call, below are tips on how to nail your cold call:
- Research – When determining prospects to “cold call”, don’t waste your time by calling every contact in your network. With software available to help narrow your focus, random calling just isn’t effective anymore. By narrowing down your list to contacts who fit your ideal buyer, the opportunity for a meeting will be significantly higher. Cold calling requires perseverance and effective practices: don’t burn yourself out by calling unnecessary contacts.
- Prepare – Now that you have your list of prospects, is essential to create calls plans to prepare for what they might ask. Start by further researching them using sources like LinkedIn and Salesforce to know what their role is in their company. By doing this, you can customize your sales pitch to pique their interest and show how your product will be valuable to their company. Also, warm your leads before calling by sending introductory emails, demos, or free pieces of information. That way they will familiarize themselves with the brand and you will be seen as credible.
- Keep It Short – Your prospects don’t have time to talk on the phone all day, meaning you need to make every second of your call count. Use proper phone etiquette by first introducing yourself and your company, then asking if it is a good time to talk. If they are available, use relevant information backed by statistics to show you understand their situation and provide an appropriate solution.
- Provide Solution – In order for your prospects to meet with you, you need to have a strong value proposition. Most companies have goals of reducing costs, improving efficiency, increasing revenue, and improving customer retention. Keeping these in mind, explain how your product can solve these standard challenges. Do not focus your phone sale on persuading your prospect to purchase; focus on providing a solution they can’t pass up.
- Ask for The Meeting – Once you’ve established all the reasons why your prospect needs your product, it’s the moment you’ve been waiting for. Asking for a meeting. You’ve done everything right so far so don’t mess it up by simply asking to introduce yourself in person. You need to clearly explain the goal of the meeting and what value the meeting could bring to the customer.
- Stay in Touch – You probably thought your job was done. You got the meeting, so you can relax right? Wrong! Staying in touch and keeping the conversation going with your potential client is critical. Offer to send your client additional information about your product to build rapport and establish a relationship.