I recently read on a Facebook group about a person that spent Friday afternoon and Monday morning creating a list of 100 target people. Apart from doing this at the weekend, I guess those are probably the best days to sit and invest in building target lists.
He certainly felt he was a “ninja” at this. Within a day, he could get the names, email address and telephone number of his target list. He then pursued an outbound policy.
He had a programatic approach, which was to first email the list of 100 people, of which he usually got a 4% open rate. Letting me do the maths, thats, 4 people opened his email. Now I’m sure, he could increase the open rate. But let’s go with that. Now remember, that’s 4 people opening the email not buying something.
For those that didn’t open the email he called them. Each person if he didn’t get through, he called 3 times.
The problem was this, he was spending a day creating the lists and was more than happy to continue this “heavy lifting” of email and calling but didn’t think he was going very far.
I suggest in the Facebook group that he tried social selling.
Here at DLA we no longer do cold outreach, but when we started I did. I contacted the Managing Director of a very large Telco company on the Thursday and had a meeting with him on the Tuesday, with his Marketing Director and Head of PR.
If anybody ever says to you “social selling takes a long time” run as fast as you can, they don’t have a clue. Anyway, back to the blog.
I reckon to get a half decent LinkedIn profile you could invest say a day (two half days, rather than one day in one go). Personally, I don’t think you can do this by reading the Hubspot article on “20 Things you need to do with your LinkedIn profile” or reading my book “Social Selling – Techniques to Influence Buyers and Changemakers” (available on Amazon). The book is pretty good (yes I know I’m biased), but to be honest, I think you need third party help (like DLA )
Now you are probably thinking, yes Tim but you have a massive profile, blah, blah, blah. OK, here’s an example.
One of our clients, 3 weeks into to our social selling program contacted a prospect and closed $1 Million. Now I cannot promise, everybody will do it, but replicate that across all of our companies we work with that’s big bucks.
Cold Calling Vs Social Selling – The Comparison
Let’s go back to our guy whose getting the 4 email open rate. He’s spending a day a week just creating a list, getting 4 email opens and hoping that people return his calls. Or he could spend a day updating his LinkedIn profile, get into a regular pattern of being active in social (he can do this outside of PST (prime selling time)) and be getting meetings with CEOs.
Has the penny dropped yet?
Social Selling The Business Case
What ever the figures, cold calling is so far behind in terms of efficiency and effectiveness and this isn’t about being as good as me. Even if you could be 10% or 20% as good as me, you will be knocking it out of the park.
There is no reason anymore to cold call or send cold emails, it’s the sign of the desperate that have nowhere to go. Apart from that, as this proves there is such a compelling business case and ROI, I’m unsure why you are not phoning me. But maybe you or your management are not brave enough.
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