Adam Gray my co-founder and I were recently in Australia presenting to a number of large B2B companies about social selling and we were asked, why don’t we do a bit of cold calling and a bit of social selling?
Seems like the perfect way forward a little bit of this and a little bit off that. But how much?
Here at DLA we have written about and won the argument that there is a ROI from social selling. My article “How to get 10 C-Level Meetings a Week Using Twitter” is now 3 years old. We have clients that are “knocking it out the park” through social selling and here’s the rub.
By not going “all in” with Social Selling you are leaving money on the table that your competition is hovering up.
Let’s look at cold calling. We have won the argument about social selling being more effective. No C-Level executive is waiting for your call, no C-Level executive will give you 20 minutes to pitch your products. Cold callers are driven further and further down in organisations, so much so it has become a race to the bottom. Before you comment, how cold calling is working for you. I’m sure that selling low value, transnational products or services will work with cold calling. I know somebody who sells advertising at £5,000 a pop. Fine. I’m talking about large scale, B2B Enterprise companies, (often global companies) who are our customers and the people we write for and about.
As Graham Hawkins in Australia says “Cold Calling is for the company that has got nowhere to go” it’s the last bastillion of the pre-internet world.
Cold calling is also less efficient. It’s back to the days of “spray and pray”. Pick 100 targets and hope that one of them will talk to you. Where as social selling allows you to find the mud that sticks. So let’s assume there are 10 people in 100 that want to talk with you with cold calling. With social, you can find those 10 and talk to them. On the basis you can really make 100 contacts a day. Social is therefore 10 times more efficient. Even if it’s less than 10 times as efficient, let’s say it’s twice as efficient, it’s twice as efficient.
And “warm or hot calling” This is an irrelevance, you are still interrupting people. You send me an email, then cold call me saying “have I seen your email?”. No I deleted it and now you have interrupted me twice, so I’m twice as annoyed and your twice blocked. It’s a bizarre and suicidal way to sell and marketing. Doubling the amount of times you annoy me. Why would you want to piss me off twice? As Graham Hawkins says, you are a company with nowhere to go.
Let’s go back to the time we are in Australia. In Sydney, they have a bridge. They don’t have a tunnel, they decided on a bridge. Now they could have compromised and had a bridge half way across and a tunnel for the other half away across the river. Of course, such a compromise will mean a lot of people will drown. It does not work.
It’s time to realise it’s 2018, the internet is 10 years old (well longer actually), we as well as our buyers are on social, it’s time to walk alway from cold calling. But are you brave enough?
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