Back in 2000 while I was attending college I worked as a stock broker trainee while I obtained my series 7 license. I used to arrive at the AIG office at 4am, as we were cold calling wealthy farmers in the UK. Wait, did I just say cold calling? If you’re a Gen Z you probably don’t even know why someone would use cold calling to make a sale when they can just as easily get on Tik Tok and tell the world what they’re selling. Cold calling is still a popular method of sales, where a salesperson contacts potential customers over the phone without prior appointment or engagement.
Let’s get back to my job at 4am. All we had was a phone on top of a desk, a pen and a box of index cards with names, phone numbers and net worth. Here we are more than 2 decades later and many companies still make their sales people cold call. Simply put, cold calling sucks! Even for someone like myself who really enjoys the art of selling, I hate wasting time in hopes of catching one warm lead.
Here are the pros and cons of doing sales through cold calling:
In conclusion, cold calling can be an effective way of reaching a large audience and directly interacting with potential customers, but it also has its challenges, including a low response rate, time-consuming nature, and potential for negative perception. Salespeople should weigh the pros and cons and determine whether cold calling is the right method for their business.