B2B cold calling is one of the best strategy for lead generation, let’s look at what it is and how you can be successful at it
Cold calling can be a scary activity for most sales reps as well as sales professional
You don’t know how the person on the other side will respond, and there is also the fear of rejection that comes with cold calling
Many people feel that it’s outdated and doesn’t work, and some regulations forbid cold calling in various countries and states
Being a cold caller myself, I can say that it still works, but you have to be strategic while using it
In B2B sales, cold calling can make a significant difference
Consider this, most of your competitors are not making any cold calls and are heavily reliant on inbound sales
Engaging proactively with your prospects by cold calling can positively impact your business and income
Advantage of B2B cold calling For LEad Generation
There is no denying the usefulness of email and social media marketing campaigns, but B2B cold calling still remains one of the most effective ways to generate new leads and grow your client base quickly
The personal touch It provides cannot be replicated in other forms of marketing
Here are a few advantages of cold-calling B2B clients
1. Direct Communication With B2B Prospects
Cold calling allows for direct and real-time communication with the prospect
Unlike email or social media messages, which can be overlooked or ignored by your prospects, a call requires immediate attention
Calling provides the opportunity for two-way communication
2. Standing Out from Your Competition
While most of your competition is not proactively reaching out to their prospects
B2B cold calling can give you a distinct advantage as you are directly engaging with your prospects
A personalized cold call helps capture the attention of your prospect and differentiate your offering from that of your competitors
You can capture market share quickly and establish yourself as a market leader by using this strategy
3. Gain Valuable Insights
Cold Calling can give you instant insight into the needs and problems faced by your prospects
You can tailor your offering according to the insights you receive over the call, which results in a higher sales conversion
4. Personalized Approach
Calling provides you the opportunity to establish a personal connection and build rapport with your prospects
A well-executed B2B cold call can help you build a strong foundation for a long-lasting business relationship built on trust and mutual understanding
5. Immediate Action
Cold calling can prompt immediate action from your prospects since they are actively engaged in conversation with you, unlike other forms of marketing where they might or might not reach out
Action can be like scheduling a follow-up meeting, requesting more information, setting up a demo or presentation, etc.
It can help you qualify the lead, which saves you effort and cost in marketing to unqualified leads
B2B cold calling strategy For Lead Generation
1. Thorough Research
Doing a thorough research before making a B2B cold call can improve your success rate
Thorough research helps you in deciding the target market and prospects to reach out to, tailor your approach and offering to meet the prospect’s needs and challenges
Here are some pointers for you to help you conduct effective research
A. Defining and Understanding the Target Market
Identify your target market or industry eg. Manufacturers, Govt, BFSI, NBFC, Non-Profit org., etc.
Targeting a particular market can help you better understand the problems faced by them and provide tailored solutions
You can batch different markets and create a strategy eg. for BFSI and NBFC markets to provide solutions to their unique needs and challenges
B. Company Research
Research the companies where you want to cold call in detail, such as market share, products or services provided, competitors, legal and regulatory policies, Mergers and Acquisitions, etc.
Find the departments and the decision-makers who require your solution so that you can pitch your solution
You can find their contact details on their website or on sales automation platforms, which provide contact numbers
C. Identify Trigger Events
Look out for any trigger events such as changes in internal policies of the company, changes in legal or regulatory policies applicable to the industry, and so on
Such changes can increase receptiveness to cold calls relating to these changes
Understand and identify the pain points that can help you pitch your product effectively
D. Leveraging Online Resources
Use sources such as the company website and LinkedIn to gain insight into the company and the decision-makers
You can also have some form of engagement with their social media posts for a few months before you start cold calling so that they can become a bit acquainted with your offering
E. Finding Mutual Connections
Mutual acquaintances or referrals can help you warm up your prospects before making a cold call
It can result in higher receptiveness by the prospect and helps in sales conversion
2. Objective of B2B Cold Calling
Since we are dealing with B2B cold calling, you have to remember that it will take a longer time to close, so don’t try to sell or close over the call
Set an objective like the prospect asking for more information over email, scheduling an in-person meeting or a VC, accessing the prospect’s requirements, etc.
3. Crafting a Pitch
Using the above research, craft a pitch tailored to the companies you are reaching out to
It should have a compelling value proposition along with a call to action
Focus on how your offering will help your prospect in improving profit, reducing cost, improving efficiency, or addressing legal and compliance requirements
Make sure that the pitch is short and conveys the point effectively
Remember that you are only pitching and not giving a presentation, keep it sweet and short
4. Practice Your B2B Cold Call Pitch
Practice your pitch a few times before you start calling
I usually practice and improve my pitch for at least a day before I start calling prospects in a new market
Improve your delivery and tonality so that you don’t appear too robotic or like you are reading from a script
5. Start Your B2B Cold Calling
Dial their number and call
Make sure that you call the appropriate decision-makers, you might encounter a few gatekeepers before you reach them. Remember to be respectful to the gatekeepers, such as reception or P.A
When you reach the decision-maker make sure that you get to the point quickly to grab their attention
Below is a rough example of a script that I use for cold calling:
Start by introduction: “Hello, my name is [Your Name] from [Your Company]. Am I speaking with [Prospect’s Name]
Brief Pitch: “We’ve helped organizations like yours/ in your industry to [Increase Profit or Reduce Cost, etc ], do you have a minute to talk about it.”
1. If you get a yes response continue with your detailed pitch, ask questions, and CTA
2. If you get the response that they are busy, ask for the date and time that would be convenient for the call
3. If they are not interested, add them to your email marketing campaign after a few days to increase your visibility, so that they will reach out to you when they are interested
6. Refine Your Pitch
You will have to refine your pitch as you get more and more insights from your B2B cold-calling prospects after conversations with decision-makers
The more you practice cold calling, the more improvement and success you will have
7. Follow-up
Keep on following up with them if they have shown a positive response, if not then, like I said add them to your email marketing campaign over the long term so that your solution stays visible to them
B2B cold calling is the best and the most proactive way of reaching out to new prospects
I can help you speed up your lead generation and establish you as an industry leader
You can combine it with your other marketing outreach like email marketing and social media marketing which increases visibility and receptiveness to your cold calls
As a final thought, to be successful at B2B cold calling, you must call at least 10-15 new B2B prospects daily
It hardly takes 30 minutes a day to call 10-15 prospects but the ROI can be huge