Cold calling works!

 
Let me get two things straight:
 
1) Fact: cold calling works.
2) Opinion: cold calling is a waste of time.
 
It may not be a popular pastime, but it’s a fact that - if you want to generate new business - cold calling is one of the most effective strategies out there. I’ve done the numbers; for my business, cold calling yields a ten times return on investment. It also works for many of my clients and there's a good chance it will work for you too.
 
Many people are of the opinion that cold calling is a waste of time and money. Their opinion may be from direct experience (they tried it and it didn’t work for them), or from indirect experience (a telemarketer tried to sell them a Readers Digest subscription at 9pm on a Saturday night). In my experience, I have found that there are three key reasons why businesses and salespeople fail at cold calling:

Reason # 1: Wrong person
Many salespeople are simply barking up the wrong tree. Either they are targeting the wrong type of companies, or they are calling the wrong people in those companies.

Reason # 2: Wrong pitch
Their pitch fails to grab attention, has a dull offering and doesn’t convince the prospect to take the next step.

Reason # 3: Lack of persistence
Too many salespeople give up too soon. For cold calling to work, you need to persevere. Its not a short term game, you need to do it consistently and often.
 
Just like Dorothy in the Wizard of Oz, many businesses have had the silver bullet (magic slippers) all along. It’s cold calling. You just need to do it right. By targeting the right person, having the right pitch and persisting, you’ll have all the new business you need.