Cold Calling Vs Other Acquisition Methods

11 replies
Calling is obviously great as you can have a conversation with someone which is dynamic.

I was just wondering what others peoples experience was from cold calling Vs other acquisition methods and whether cold calling generated a higher ROI.

I've fairly interested in broadening into LinkedIn networking (that's where a lot of potential customers are, so seems like a good idea), FB/Twitter (less so convinced of these), and or PPC (even less so convinced of this due to expense and conversion rates seem to equal those of cold calling at a higher cost!).

Once I have customers/interest then obviously I can x-sell/upsell etc through email/calling - but I am interested in your thoughts on initial customer acquisition means...
#acquisition #calling #cold #methods
  • Profile picture of the author Jon Martin
    I can't speak on behalf of cold calling as it pertains to ROI and statistics - I haven't dabbled enough in looking at my own numbers to be able to verify much. I've done direct mail, e-mail, you name it - I love cold calling and prefer it for one sole reason:

    INSTANT RESULTS.

    I could send out 1,000 e-mails and get a couple of responses if I'm lucky - but it's not instant and it doesn't feel as real and as authentic as picking up the phone and having a human-to-human conversation. I think that based on that cold calling would probably convert better, but like I said I'm not expert and it obviously depends on the individual as well as the campaign.

    For me, cold calling is my preference. I use other marketing strategies and resources but I always seem to get back to the phones one way or another. I also find it to be a lot more fun, personally. It's a thrill for me.

    Best of luck!
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  • Profile picture of the author Voasi
    Snail Mail marketing works great. It has some of the best ROI.

    But this question is better suited depending on the market you're trying to penetrate. Let me give you an example. Let's say you're targeting Plumbers and Google Places management.

    - Email marketing isn't great - they're not big "email" guys.
    - Direct Mail is good, since a majority work out of their homes.
    - Cold Calling is "OK" - majority of the time they're out on calls (since they're owner/operator) and hate the sales calls.
    - LinkedIn - definitely not a good idea, these guys don't even know what that is.
    - Facebook Marketing - same as LinkedIn...
    - PPC/Adwords - Yes, always a good idea for any market, if your budget permits.
    - SEO - Yes, always a good idea for any market, if you know what you're doing.
    - Face-to-Face - Fantastic, these guys like to "shake your hand and look you in the eye"

    So, from above, if you want to get serious traction with plumbers, I'd suggest focusing on Direct Mail, Cold Calling, PPC and Face-to-Face.

    Now, if you wanted to target Accountants, the above methods would be different for them. Understanding your demographics is important, so you know the best ways to penetrate them and get them to see your message.
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    • Profile picture of the author Claude Whitacre
      I can tell you that I have tested what you are asking. Not with every media, but with cold calling and direct mail.

      The single best results I've ever seen (for myself and a few direct mail friends) is direct mail followed up with a cold call. The vast majority won't buy from your direct mail, but the direct mail sets up the calls.

      I've only done this where I was doing the calls. A call center will get less results.
      But a short series of direct mail postcards (two or three over a couple weeks) makes the cold calls more receptive. At least they will know you are real.

      But if you are only going to do one, I would cold call. It's faster, cheaper, and the client is now more bonded with your ideas.

      And if you are going to make the calls yourself? I would send a couple postcards with hand written (fonts) personal notes from you. Then the call from you. It will help you get through a little easier. But I find selling is much easier.

      I don't have ROI figures in front of me. But I belong to a Mastermind group where we all test each other's ideas. A few postcards over a couple of weeks, and a personal phone call. The phone call will generate the huge bulk of the sales.
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      • Profile picture of the author Irish Intuition
        Originally Posted by Claude Whitacre View Post

        The single best results I've ever seen (for myself and a few direct mail friends) is direct mail followed up with a cold call. The vast majority won't buy from your direct mail, but the direct mail sets up the calls.
        I get contacted all the time to write mail pieces and one thing that
        escapes people is the follow up. I had a client that sent out 1000
        postcards (B2B) and got no calls. I wrote a letter and wanted them
        to 'trickle' them out, so they could follow up on EVERY one.

        Our success rate was through the roof and that was before we
        mailed 100 of them. Calling cold or 'warm' is essential to success.
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  • Profile picture of the author ERPLeadsWriter
    Over here, we've already mixed cold calling with a number of other methods from email to social media. So far, we've started investing more in email because it managed to get the most leads so far (followed by social media and SEO).

    We have not fully discarded others though but have started investing only enough to fully compliment the cold calling. At the very least, a telephone call finishes up the conversation with a prospect.
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  • Profile picture of the author Matt121
    Cold calling is great, however, it sometimes doesn't work well as an opener. Usually it best serves its purpose when you have already established some form of contact with your prospect, although that really wouldn't be called "cold" calling now would it?

    Anyway, cold calling is great in getting in contact with new clients. Just don't expect for it to always work is all.
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  • Profile picture of the author Niks24
    Well Cold Calling is effective to some extent as you need to be on the spot immediately.
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  • Profile picture of the author MobiDev
    Cold calling is reaching potential clients who did not expect to speak with you. Receiving a cold sales call can make people angry because you haven't laid any groundwork for your call. Salespeople have different opinions about the effectiveness of cold calling. Many believe that it is the most efficient way to reach potential leads. Others feel that cold calling has been displaced by e-mail marketing and social media marketing.
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    • Profile picture of the author Jason Kanigan
      Originally Posted by MobiDev View Post

      Cold calling is reaching potential clients who did not expect to speak with you. Receiving a cold sales call can make people angry because you haven't laid any groundwork for your call. Salespeople have different opinions about the effectiveness of cold calling. Many believe that it is the most efficient way to reach potential leads. Others feel that cold calling has been displaced by e-mail marketing and social media marketing.
      Are you writing an article about calling??

      Let me tell you how many clients you'll get if you don't make any calls or send any emails or direct mail pieces: zero.

      Anyway, this is why we start the call by asking if it's a bad time: it filters out those people we shouldn't be talking to right this minute. We can call them back later.
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      • Profile picture of the author Claude Whitacre
        Originally Posted by Jason Kanigan View Post

        Anyway, this is why we start the call by asking if it's a bad time: it filters out those people we shouldn't be talking to right this minute. We can call them back later.
        Dear Jason:

        I've found that a call at the end of a direct mail sequence gives the best results...per call. But may not give the best results per dollar. Because calling is free and direct mail is not.

        But I wanted to say something about your approach. If there is no contact before a call, your approach is the best I've seen. I use it when I do cold calls. And I get a few cold calls a day (I don't count the viagra calls from India). The ones that use an approach similar to yours are very hard to be rude to. They are almost impossible to hang up on. And sometimes they get to first base. A time or two, a home run.

        And I'm one who hangs up on calls with a 3 second delay, or a standard opening "I need to talk to whoever is in charge of the credit card processing...hello? hello?"

        If you guys are going to cold call, I can't recommend Jason's approach enough. It's easier on you and easier on the prospect.
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  • Profile picture of the author Jason Kanigan
    Anyone wondering why beginning with "Is this a bad time to talk?" is a good idea should go watch the video here:

    http://www.warriorforum.com/offline-...ml#post7249646

    and the vid linked to right underneath that one.
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