How to Cold Call for Business: Steps and Tips to Get Started

Cold calling is one of the oldest yet popular sales strategies. With digitalization, the popularity of this strategy has decreased to quite a significant level. However, it is still one of the most effective ways to gain loyal customers.

Whether you want to hire cold caller or wish to become one, this article will help you understand the notable steps to cold call for business. So, let’s get going.

What Is The Purpose Of Cold Calling: How Cold-Calling Works?

The primary and most basic purpose of cold calling is to make a sale. The main intention behind a sales professional or sales team cold calling a potential customer is to convince them to buy the product. However, there are some long-term and short-term goals of cold calling that lead to serving the main purpose.

Initially, the cold caller aims to get an appointment with the client. If they get an appointment, their goal shifts toward attracting and building a relationship with the client.

Other than making a sale, an important long-term goal of cold calling is creating a reliable space with the customer. When the customer finds the col caller and his approach comfortable and trustworthy, they tend to buy the product at a good price and come back for more later.

Aside from client-oriented goals, salespeople usually have personal goals involved with cold calling as well, such as practicing their selling strategies and establishing their industry knowledge and network.

At the end of the day, making a connection with the client is what matters the most. This happens when the seller can show that he cares about the customer’s requirements and challenges. As Neil Patel says, “When people know that you care about and anticipate their needs, they’ll reward you with their wallets.”

How To Cold Call: Cold Calling Tips And Process For Business

Cold calling implies the art of convincing people and building a relationship with them. A good salesperson constantly works on his cold-calling techniques and skills based on his daily experiences of dealing with people.

You need to remember that every client is different. They have different personalities, needs, and priorities. So, the cold calling process requires to be tailored on the basis of potential clients. However, the most fundamental process one must follow to carry out a fruitful cold calling is noted below.

Before Cold Calling

The preparation that a cold caller has to take before a cold call has a crucial impact on its success rate. This is when you have to design and tailor your conversation, leads, and sales pitch per the client’s traits and requirements. Here’s what you have to keep in mind:

1. Matching Product Features With Benefits

A product can have several features. But, not all features are helpful to a particular buyer. Always remember that you’re not selling the product; you’re selling the solution to the buyer’s problem. Hence, jot down the features you want to highlight that would benefit and match the buyer persona and gain their interest.

2. Setting The Objectives For The Call

Make sure that before calling prospects, you know what you’re aiming for. Whether you want to get an appointment with the customer or close a deal, you must map out the entire conversation, aligning with the intent of your call.

3. Research and Implement Accordingly

Research is the key to keeping a cold call under your control confidently. When you know the ins and outs of the product and the prospect, you instantly create a professional impression on the buyer. Utilize your CRM to gather information about your leads.

4. Know the Person You’re Calling

To know about the interests and requirements of the buyer, you can take help from social media and online tracking metrics. Don't act like a creep by stalking your customer. Rather, collect information tactfully and professionally through online tools and professional spaces like LinkedIn.

5. Use Actionable Data

Specific, apparent, and relevant data effectively enriches the chances of reliability. When you back your pitch with actionable data, you need to be confident and specific. Therefore, arrange the actionable data in one place so you can use it when relevant. Never, ever think about bluffing. If you get caught, it will cost your reliability.

6. Prepare an Intro Script

An intro cold calling script is where you need to put most of your effort before a cold call. Because based on this cold call script, the customer will decide whether to proceed with the conversation or hang up. The intro script must not sound too scripted or dramatic but should have just the right level of edge to grab the customer’s attention and curiosity.

7. Create a Checklist of Key Points

A cold call should be quick and fluent, covering all the necessary points a customer needs to know. So, to maintain an organized approach, it’s better to note down the key points of the conversation. This would help you to keep the conversation smooth without missing any important points.

8. Include Customer Success Stories

Including customer success stories within the conversation with a prospect can be a game-changer during cold calling. These stories are very effective in swaying a prospect towards buying the product. So, make sure to note a few inspiring customer anecdotes separately.

9. Practice Until Confident

Practice is the way to perfection. Even when you’re not perfect, practice until you feel confident enough to handle a conversation with a disinterested prospect smoothly. Stammering or pausing during cold calling immediately creates a bad impression on the buyer.

10. Choose The Right Time To Call

Timing is a very important aspect of persuading a person. Take help from your CRM data to understand the appropriate and preferable time for a customer or lead. It is generally observed that the window between 4 to 6 pm on Wednesdays and Thursdays is prime time for a cold call. On the other hand, Mondays and Fridays are a bad time for this case.

During Cold Calling

Once you’re done preparing for the call, take a leap. Here are a few things you should do while you’re on the call.

1. Create A Strong Opening Impression

As said before, the opening is the most crucial part of a cold calling. If you can make the customer stay after the cold calling opener, you’re already on the winning side. The worst starting you can go for would be the sales pitch. Instead, try an elevator pitch.

2. Lead The Conversation

You’re calling them to sell your product, so it’s on you to lead the conversation in a way that all key points are covered. However, don’t try to intimidate the prospect or interrupt when they’re responding. Even if you take the lead, never forget that the customer is king.

3. Demonstrate The Credibility Of Your Service

While talking to the prospect, share the connections and achievements of your company so that they feel a sense of reliability and credibility to move forward with a sale. Tell them about your company size, how long your company has been serving, and how it’s reviewed and ranked by current customers and industry reviewers on your company websites.

4. Ask Proper Open-Ended Questions

Open-ended questions are a tricky move to play with the prospect's psychology in the cold-calling game. You already know what the answer will be, but making them answer will make them feel like they’re agreeing with you.

5. Be Empathetic And Understanding

Nobody wants to deal with people who do not understand or value their circumstances. Always have a respectful tone of voice and make a comfortable space for them to share their side. In this way, they'll feel a personal connection with you, and you'll gain their trust even if you don’t get the deal.

6. Handling Objections

Don’t get discouraged if objections are made. Objections might intimidate you, but they’re positive for the sale in disguise. Firstly, a prospective client usually objects when they’re interested in the product but aren’t clear enough to commit. Secondly, it saves you from misunderstandings when or after a sale is closed.

7. Focus On The Pain Points

Many times, while talking with the prospect, you might get carried away explaining the features that don’t interest them. It's nothing but a waste of time. Even if the features are very lucrative, when they don’t concern their issue, they would want to end the conversation there. That’s why stick with the pain points.

8. explain value before price

You will most definitely get asked about the price at the very start of the call. However, try to sway the conversation towards highlighting the value first. And then, state the price justified by the value you’re offering.

9. Encourage Trying First

If they feel too hesitant to commit, you can show your loyalty by asking them to try it for free. Customers are immediately attracted to such deals. It’s worth taking the risk for the prize of a loyal customer for life and a potential sale.

10. Schedule The Next Call Before Closing

In most cases, a deal doesn’t close with just a cold call. Don’t let them hang up at those times without scheduling the next interaction. You can ask them for a time to have a discovery call with other stakeholders (if any) or a product demo.

After Cold Calling

After you’re done with a cold calling, you can relax for a while. But when you’re done relaxing, make sure to do the following:

1. Plan Follow-Up

If you scheduled a second call, prepare the invitation email and send it to them beforehand. Even if you plan to invite them a few days later, prepare it while you remember the conversation you just had.

2. Analyze And Improve

After the phone call is over, take some time to reflect on the overall experience from both sides. Analyze the responses and approaches you’ve delivered on the call and think about better ways to deal with them.

3. Track Cold Call Kpis And Metrics

Keeping track of the KPIs, such as the number of sales calls, responses, closings, and scheduled meetings, will help you work and reflect on yourself and your daily performance. You can use CRM for these activities, as they are saved automatically in it.