Are you thinking about outsourcing cold-calling services as a new marketing strategy? Are you confused about whether you should employ cold-calling services or employ an inbound call center to do the job?
If yes, then read on as in this blog we will be telling you all that you need to know about cold-calling and inbound calling, the difference between them, and the benefits of each one.
Cold-calling is one of the oldest, most well-known techniques of telemarketing. It is defined as the solicitation of a potential customer who had no prior interaction with a salesperson.
In simple words, it means to approach a potential customer through a sale call, hoping he will be interested in buying your product when he had shown no prior interest in the product. It’s kind of like aiming with your eyes closed hoping that you will strike the target.
How it works:
As we discussed above, cold-calling requires a salesperson to contact an individual that hasn’t shown interest in purchasing or employing their products before, in hopes of getting their products sold.
Cold calling although is mostly done through the phone, can also refer to door-to-door and in-person visits.
The aim is to get a customer, who although, was seemingly never interested in your product, to begin with, to buy your product. A good salesperson has to be persuasive and open to accepting rejections. They should also conduct thorough research on the demographics of their prospects and their markets.
Benefits of Cold Calling
Now that we’ve discussed what cold-calling is and how it works, let’s get to the benefits of cold-calling and why it is recognized as a well-known practice all over the world.
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- Reach new customers:
Although, cold calling is considered an utmost failure in the marketing sector with its 13% success rate. It is one of the very few ways you can broaden your horizon and reach a bigger audience. There might be people, not in your immediate market, who are looking for the services you offer. It is your job to research and reaches these customers. And the only way you can do so is through cold-calling.
With proper research about your prospects, you can call the people that fit your typical customer profile and offer them your services.
- Master your sales pitch:
Cold calling can become a means of training for your newly-employed sales representatives. By making new hires do cold calls and conduct research on possible prospects, you can help them gain experience as to how to deal with customers. They can work on their pitch and make it more persuasive for their clients and can also learn to accept rejections as part of their job.
- Gain relevant information and make a human connection:
The reason why cold-calling is better than emails is that through cold-calling, the customer can have a human interaction with the sales representative. When you call a person and talk to them on the spot, they may be more willing to provide you with more valuable information.
In addition, you can make a human connection during the call and gauge the prospect’s personality, sense of humor, and so on, which you can’t always do over email, and which can go a long way toward starting a business relationship.
Inbound Sales Calling:
Inbound calling is the complete opposite of outbound or cold-calling. In these types of calls, the customer is the one who initiates the contact or shows interest in the product or service beforehand.
Types of Inbound sales calls.
There are two types of inbound sales calls and both of them differ drastically from cold-calling.
- Warm calling.
This type of call refers to the calls made by your salesperson to the customer after having a form of contact with them, often through social media or your site. Warm calling is said to be the bridge between cold-calling and inbound calling.
These calls are made to set an appointment for the customer after the customer has shown interest in your business.
- Hot Calling.
This is completely inbound. The customer is the one who calls you after contacting you through social media and showing interest in your business. Here, the customer takes initiative to reach you.
Benefits of Inbound calling
There are many advantages of having an inbound call center at your service. As there is a distinguished connection between the customer and your salesperson when it comes to inbound calls. They prove to be more efficient. Here are some of the reasons why you should hire inbound calling services.
- More chances of success:
As interest is the main difference between inbound and outbound calling; inbound calls have more success ratio. This is because the customer has already shown interest in your business and is already expecting the call from your sales representative.
- More focus on your customer.
Having inbound calling services helps you keep your customers satisfied. By keeping up with your customers before and after the sale, you represent yourself as a trusted and customer-focused business. This in turn brings you more customers and increases your sales.
- Better Management of calls.
Outsourcing inbound calling services will help you deal with inbound calls in an efficient manner, especially if the calls are in a high volume. Your inbound reps will make sure each call is handled in a way that ensures 100% success and won’t leave any of your customers dissatisfied.
The difference between Cold-calling and inbound calling
Interest is the biggest difference between inbound and outbound calling. When it comes to inbound calling, there is a prior interest shown by the customer in the product. And that’s the reason why he is contacted by the sales representative. But in outbound calling, no such thing is present and the sales representative is basically, blindly calling anyone hoping for your product to sell.
Efficiency and effectiveness.
Another key difference between inbound and outbound sales calling is their effectiveness. Inbound is the more effective of the two since the customer’s already interested and motivated to discuss services and products with you. You’re less likely to get that kind of reception with a cold call. Also, inbound calling is much more efficient as well as it allows your reps to interact with parties who are already interested, resulting in a higher conversion rate—meaning it’s much more efficient for them to practice inbound sales calls.