For many sales organizations, cold calling is a required and standard activity. Many simply continue to use this old, outdated technique due to a lack of other options. But it doesn’t have to be this way—nor should it be. The fact is cold calling is expensive and ineffective. The cost per lead is high and the number of appointments made through cold calls is at a mere 2%.
You don’t need to cold call to keep your pipeline full. There are many ways to increase sales without forcing your sales people to work the phones, day in and day out, and annoy leads while they’re at it.
Ditch cold calling and use the strategies below to increase your sales instead.
Increase Thought Leadership
Increasing your company’s thought leadership can be one of the most effective ways to increase sales without cold calling. Buyers want to purchase from the best. They want to purchase from companies that they can trust. If you work on increasing your thought leadership and showing the world that you’re a subject-matter expert in your field, prospects will come to you.
There are many ways to do this. You can speak at events to showcase your knowledge. You can write a blog or contribute pieces to trade magazines to share your expertise. You can share relevant news about your industry on social media to prove you’re in the know.
Establish your credibility and expertise, and once a need arises, buyers will come to you first.
Build a Team of Social Sellers
Sales people who use social selling outperform those who don’t. Social selling is the process of using social media sites, like LinkedIn, Facebook, and Twitter, to find, interact with, and engage with leads, prospects, and customers. Social selling allows your sales people to humanize your brand, connect with prospects on a personal level, build trust, and boost credibility. Building relationships with leads and prospects on social media is far more effective than cold calling.
Provide Incentives for Referrals
Referrals are one of the most cost-effective and efficient ways to boost sales. Your current and past customers already believe in your company, trust your reps, and buy your products or services, making them great sources of referrals.
Though even your best customers might not be eager and willing to offer referrals, many would do so with a little motivation. Find out how you can encourage your customers to recommend your brand to their networks, whether it’s a discount, a commission, or special recognition, and you’ll see your sales increase.
Re-Engage Lost Opportunities and Old Clients
A lost opportunity might not be lost forever. You’ve likely lost many sales opportunities due to timeline, budget, or decision makers. But all of these things can change over time. Re-engage these prospects to see if they’re now ready to move forward. This could be your easiest source for new revenue.
In addition, reconnect with old clients. These buyers have already purchased from you, so all of the hard work is already done. You may be able to increase sales by up-selling to these past clients.
Invest in Sales Enablement
The way people buy has changed, thanks in large part to the internet. This is why cold calling is far less effective than it might have been in the past. People have the means and opportunity to do their own research and shop online. They want to be in control of the sales process and make their own decisions. They don’t want to be sold to or pressured into a sale through cold calling.
Investing in sales enablement can increase sales because it can help your team adapt to the new way customers buy and teach them new selling skills and strategies that are based in the 21st century.
About the Author:
Matthew has over 20 years of sales and sales management experience. He is the founder of SalesHub, an inbound marketing agency that helps companies generate leads, boost revenue, and adapt to the new way customers buy. When he’s not helping companies improve their revenue, he trains and competes in half ironman distance triathlons to “relax”.
Disclaimer: The views and opinions expressed in this article are strictly those of the author. CPSA does not endorse any of the companies, products and services mentioned within this article.