What Statistics Can Use to Improve Cold Calling’s Impact On Your Sale

Cold calling might seem like an obsolete sales technique, but this is far from the truth. Cold calling remains an essential component of creating outbound sales. However, diving into cold calling without considering statistics is a mistake. Here’s a detailed breakdown of the statistics you can use to improve the success rates of your cold calling.

 

What Is Cold Calling Exactly?

Cold calling is the act of connecting with potential and existing prospects through a phone call. It’s a personalized way of introducing the service and encouraging customers to talk with you further. Successful cold calls are executed only after extensive sales training, mock sales calls, and data-driven optimization.

 

What Are the Benefits Of Cold Calling?

Cold calling allows salespersons to connect and respond to potential prospect’s questions. Agents connect to customers and compare their deviations from the ideal consumer profile. Utilizing cold calling’s best practices allows agents to convert individual leads into loyal clients.

 

The Challenges of Cold Calling

Cold calling is not easy. Some agents can engage with customers and find qualified sales leads easily. At the same time, others might find it difficult to connect to prospects and may be demoralized. The latter happens far too often.

 

According to statistics released by Zippia, cold calling is considered the worst part of their job by 63% of insurance agents. This dislike towards cold calling is further exasperated by the fact that most calls through an unknown number usually end up in a voicemail. Without a great voicemail script, potential leads will not call back.

 

Cold Calling Statistics You Can Use to Improve Your Success Rate

Cold calling is a skill that’s honed with practice and the smart use of data for optimizing the process. The following are some ways you can refine your cold calling strategies.

 

For General Cold Calls

First of all, don’t expect to be successful every time. According to Zippia, cold calling as a whole only has a 2% success rate. Another statistic mentions the benefits of sales reps using “We” instead of “I,” which can increase success rates by 35%. It further mentions how being direct at the start can improve your chances of success.

 

The timing of a cold call also makes a significant impact. We have identified the following times to make cold calls:

1. 11 am to 12 pm
2. 4 pm to 5 pm

On the other hand, the best days to call are Tuesday, Wednesday, and Thursday, as mentioned by a marketing company called CallHippo.

 

For B2B Cold Calls

Unlike general calls, businesses are more inclined to respond positively to cold calls. Rain Group states that around 82% of businesses accept meetings with cold callers. However, an insurance agent must make at least 5 successful follow-up calls per Marketing Wizdom.

Cold calls can also be given more legitimacy for businesses if agents refer to their common LinkedIn group.

 

Final Thoughts

Cold calling can be successful if the right strategies are used. It’s also important for an agent not to take failure personally. By considering seemingly insignificant factors such as time and day, an agent can successfully increase their conversion rate.