What's your current conversion rate like when you cold call?

12 replies
I'm curious about this because I don't usually cold call, but I recently decided to focus on using this technique for a specific service I'm offering.

I'm converting at about 40%... experienced cold callers is that high, low or average? Or is there no way to determine something like that?

I want to know if there is any way I can up that number, though it is very encouraging already but I wonder if I'm not missing anything...

Your thoughts/experience appreciated in advance.

Kunle
#call #cold #conversion #current #rate
  • Profile picture of the author kenmichaels
    Originally Posted by Kunle Olomofe View Post


    I want to know if there is any way I can up that number

    YES, you can UP that number.

    1 is sales technique
    2 better qualified leads.
    3. even better leads... but the third set takes you OUT of cold calling.
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    • Profile picture of the author Kunle Olomofe
      Originally Posted by kenmichaels View Post

      YES, you can UP that number.

      1 is sales technique
      2 better qualified leads.
      3. even better leads... but the third set takes you OUT of cold calling.
      So what's been your personal highest conversion rate so far?

      I don't cold call over the phone regularly (more of the in person thing for me where I've had higher CRs) but it's good to know I can move past that over the phone. Guess it's back to the drawing board for me.
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  • Profile picture of the author payoman
    What is your most used marketing strategy?
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  • Profile picture of the author socialentry
    40% is actually pretty darn good.... but I would be (pleasantly!! I hasten to add) surprised if you could keep it up over let's say 3000 calls. What's the offer and list you're using if you don't mind me asking?

    Are you calling Nigeria? :confused:

    I had a pretty disastrous first run with two people(over 5k calls) for whatever reason with consultative selling. I did ****all. Either I do not understand it, or it really does not match my personality (which I suspect is the latter).

    I started working for others just to learn the trade of selling.
    Fast forward a couple of weeks later, I received a lot of training from a company that sold to high-end executives. They worked tone, pitch, rebuttals,etc. I wasn't allowed just to bash people up over the phone and just close them so I quit.

    I joined another company that did one call close, and so far my own numbers are:240 dials/ (I think around 30 pitches)/275$. Goal was ideally 50$/hour (I do believe that at one point they were making close to this because the company was around for decades). The product was crap, ad space in the student agenda of a third rate college. The list was old and beat up.

    It taught me that numbers could only take you so far. The two companies I worked for were barely breaking even when overhead was taken into account but for me the adventure continues...
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    • Profile picture of the author Mwind076
      It always amazes me that people ask this when we do new client consultations or marketing consultations. My "closing" or "conversion" rate for my past clients will tell you NOTHING about YOUR needs, list, my abilities for your company unless you have the exact same product, demographic, list, pricing and drive. On top of that, why would you limit yourself (or me) to what other people are doing and selling. Someone else may have had a crappy list, or not wanted to focus on a better audience and may have had crappy sales numbers. Focus on doing everything you can for your business, and do it RIGHT.

      There is ZERO possible way to compare conversion rates across different calling campaigns. What you are calling on now, versus a campaign I am calling on are two different things.

      Maybe if you gave us specifics on the target market you are calling and what you are trying to do and sell with them we could give an educated answer.

      For instance, let's say that I am:

      Calling restaurants offering website makeovers and maintenance (appts or sales over phone)
      vs.
      Calling businesses offering floor cleaning estimates (appts)

      My conversion rates will mean 2 totally different things.

      Also, what conversion rate are you talking about?

      1) The rate of calls that convert to a appt?
      2) The rate of appts that convert to a sale?
      3) The rate of calls that convert to a sale?

      To answer your question in short, there is always a way to up your conversion rate, no matter what you are referring to.
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    • Profile picture of the author Kunle Olomofe
      Originally Posted by socialentry View Post

      40% is actually pretty darn good.... but I would be (pleasantly!! I hasten to add) surprised if you could keep it up over let's say 3000 calls. What's the offer and list you're using if you don't mind me asking?

      Are you calling Nigeria? :confused:

      I had a pretty disastrous first run with two people(over 5k calls) for whatever reason with consultative selling. I did ****all. Either I do not understand it, or it really does not match my personality (which I suspect is the latter).

      I started working for others just to learn the trade of selling.
      Fast forward a couple of weeks later, I received a lot of training from a company that sold to high-end executives. They worked tone, pitch, rebuttals,etc. I wasn't allowed just to bash people up over the phone and just close them so I quit.

      I joined another company that did one call close, and so far my own numbers are:240 dials/ (I think around 30 pitches)/275$. Goal was ideally 50$/hour (I do believe that at one point they were making close to this because the company was around for decades). The product was crap, ad space in the student agenda of a third rate college. The list was old and beat up.

      It taught me that numbers could only take you so far. The two companies I worked for were barely breaking even when overhead was taken into account but for me the adventure continues...
      socialentry... you are so right! I'd be just as surprised, cold calling can be fun but man is it exhausting lol. Though today was double that at 80%+ conversion so far, but this is only day 2. I'm interested to hear myself talk after like 3,000 dials lol.

      I'm afraid I can't reveal the offer here that would likely plummet my results within days. But yes I'm calling in Nigeria and the "callees" are really nice for the most part.

      I understand what you're saying about your experiences with those companies. I commend you for even staying that long with them, I'd have bolted a lot earlier
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      • Profile picture of the author socialentry
        Man that sounds awesome. Hope your winning streak lasts for a long time.

        Perhaps the third world is an easier sell then America because telemarketing is less known?:confused:
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        • Profile picture of the author Kunle Olomofe
          Originally Posted by socialentry View Post

          Man that sounds awesome. Hope your winning streak lasts for a long time.

          Perhaps the third world is an easier sell then America because telemarketing is less known?:confused:
          Thanks. I appreciate the support!

          Well, you may be right. Though the way Nigerians market I'd be surprised if our cold calling averages don't match the US. We are pretty savvy marketers here and some a very aggressive in the sense that they use whatever methods they like not refraining themselves by our location, economy, life style, traditions and the like. There are go getters here that I'm sure would give a lot of other globally respected marketers a run for their money.

          Plus, if not for the way things are run here (government wise etc) I would say you would be shocked to find that Nigeria is far from a third world country these days, in Lagos, our commercial city, almost everyone and their dog owns either an iphone, blackberry, ipad, some smart phone or other or a combo of all them lol. And these guys KNOW what's happening outside our borders faster than news aggregators globally do.

          We have our downsides but frankly, I'm very excited every time I wake up these days, the country is moving in leaps and bounds toward the first world in terms of technology especially, and fashion and life style, some things are different here, but largely they are the same to a large degree if not exactly as in any advanced nation. I stand to be corrected but cold calling is unlikely to be an exception.

          Having said all that, I think the way and manner in which I approach my calls makes the difference as well. My secret is that I am ALWAYS upbeat, loud (not too loud lol) and clear in my speech and friendly and warm, all that stuff that makes people warm to you even if they are having a bad day so far. Some don't react to it but most seem to take their cue from how I talk from the second I say hello. Hope that helps someone.
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      • Profile picture of the author Claude Whitacre
        Originally Posted by Kunle Olomofe View Post

        socialentry... you are so right! I'd be just as surprised, cold calling can be fun but man is it exhausting lol. Though today was double that at 80%+ conversion so far, but this is only day 2. I'm interested to hear myself talk after like 3,000 dials lol.
        Are you saying that 80% of the people you talk to on the phone, buy from you? Four out of five strangers you cold call...give you money?

        Friend, I want to believe you. But if you can do that...come to America and teach us your secret. Because I'm pretty good on the phone myself, and a great day to me is about 8% of the people I talk to (assuming they are the right people) hire me as a speaker. I would pay a huge amount of money to know how to get 80% of the strangers I call to buy.

        Are you cold calling people that are expecting your call, and are referrals from past buyers?

        Can you tell us more? We can keep a secret.
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        • Profile picture of the author Kunle Olomofe
          Originally Posted by payoman View Post

          What is your most used marketing strategy?
          Hi payoman, I'm partial to face-to-face prospecting and that brought in my best clients, then I noticed I was getting some business here and there from referrals when I least expected it. So I've decided to add referral marketing full on. I'm currently testing telemarketing right now which is the reason for this thread. Cheers

          Originally Posted by Aaron Doud View Post

          What are you selling because 40% and 80% closing for telemarketing is great. Congrats.
          I'm selling web design but can't say more. I may be able to share more later when I'm good with results. And thanks for the congrats

          Originally Posted by Claude Whitacre View Post

          Are you saying that 80% of the people you talk to on the phone, buy from you? Four out of five strangers you cold call...give you money?

          Friend, I want to believe you. But if you can do that...come to America and teach us your secret. Because I'm pretty good on the phone myself, and a great day to me is about 8% of the people I talk to (assuming they are the right people) hire me as a speaker. I would pay a huge amount of money to know how to get 80% of the strangers I call to buy.

          Are you cold calling people that are expecting your call, and are referrals from past buyers?

          Can you tell us more? We can keep a secret.
          Lol. Technically Claude they agree to buy or they eagerly book appointments for a follow up discussion over the phone or a face2face meet up so that they can get the full gist and hopefully then buy. These prospects I'm referring to are now very hot leads, some a little hotter than others but generally from cold calls they are now very interested prospects eager to get the full gist of the package before they buy, but they've indicated serious interest.

          So yesterday 80% did one of the 2 above (and I'd add it's about evenly distributed at this point). The thing is in Nigeria, getting paid via debit/credit cards isn't so effortless just yet (otherwise I would likely have more cash in hand sales right off of the phone from the reactions I've been getting). You have to go physically to pick up the cheque or have them pay into your bank account or have someone bring a cheque to you. So, the delay in getting the payment would make it that you can't call someone saying "Yes, put me down for one of those" a firm sale till the money is in your hands, but a lot of the prospects have promised to make their payments by the end of the month or they have promised to seriously consider and get back to me by X date. Some of them HAVE called back. One did this AM from a call yesterday and says his cheque is ready for pick up when I am.

          The reasons for my high close rates I'm thinking from my 17 years as a hands-on marketer...

          1) My phone manner
          2) My script (there's something about this I've really perfected now over 30 or so calls but I've used it randomly in years past so it's not totally new, may be able to reveal this later, we'll see)
          3) My offer
          4) The pool/kind of prospects
          5) Some other stuff I've yet to put my finger on with regard to cold calling especially.

          To protect my close rate locally I can't say too much more at least for now. But hopefully that's enough to feed your curiousity

          I may be able to offer you some tips privately on how you may be able to get a higher close rate for your speaking engagements (no promises you understand but happy to share some tips with you and see if they stick).

          I'm a sorta newbie telemarketer but I'm from an older breed of online direct marketers so I know a few simple tricks I think may be helping me with this relatively-new-to-me form of marketing (marketing is usually the same across different media anyway with a few differences here and there).

          PS: As was said above a lot will depend on so many factors, but I firmly believe there are parallels that can be taken advantage of and used to measure people's successes across multiple campaigns via multiple media. Just my own view.
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  • Profile picture of the author Aaron Doud
    What are you selling because 40% and 80% closing for telemarketing is great. Congrats.
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