Do you know the success rate of Cold calling? If not, we are here to help you get informed! Read below!
What is Cold Calling?
Cold Calling is outbound telemarketing used to prospect customers. Businesses call potential customers on the phone to promote their businesses and services. The goal of the phone call is to acquire sales and appointments. Cold calling can work for some companies and be horrible for other companies. To know if cold calling is a good tactic for your company, you must measure your company’s progress during the campaign.
June 2010, the Direct Marketing Association released its ‘2010 Response Rate Trend Report.’ The report said that cold-calling customers yielded the highest response rate. This 6.16 percent response rate for cold calling is greater than direct response tools. Examples of direct response vehicles are direct mail, email, paid search and Internet displays.
The Success Rate
You can measure the cold calling success rate by keeping track of how many calls the sale team makes. Once you collect this data, you can compare it to how many sales you acquire over any given time. Here is an example of a calculation:
A sale agent makes 80 calls a day, five days a week. The sale agent sells products to 24 customers. The success rate equals 6 percent. Your equation for this example is 24 customers divided by 400 calls a week, equals a 6 percent success rate for cold calls.
To learn about telemarketing lists and how to build a successful cold calling campaign, read this article from SmallBusiness.Chron.com.
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