Is cold calling too old school or is it still appropriate in today's marketplace?
I've been in the insurance business for 27 years and it keeps changing. I do direct mailings for outreach on behalf of my company but, I am also open to new ideas. What are your thoughts?
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Cold calling has always shown its relevance to drive sales. In today’s marketing scenario, it has a potential to deliver effective outcome only if the focus is targeted rightly. In fact, market research proves to be beneficial in preparing a practical script for cold calling. The idea is to be persistent while approaching clients through cold calling to achieve positive yield.
I believed if the insurance company is changing due to advancements in technology and globalization, we also need to have a positive correlation with the changes in terms of being renovating and creative!
I think cold calling is dead to consumers. I personally think it is a violation to my personal privacy if a business calls me without my permission. But for the B2B, there is still a marketplace there. People are more likely to pick up the phone if it is going to benefit them at work.
Any business that does marketing shall use just all available communication lines, that are worth the expense. To find out if cold calling works for you, you would need to test it as a marketing line. You would make a list of 1000 people, make your calls and simply invest in the marketing. You would review your marketing action and decide if it is worth to continue in the future with it.
I tend to believe it is worth. I have done it, and want to setup cold calling department with few people.
Cold calling can be very personal and very helpful for people. That is how you CONNECT to your leads and future customers. Connecting is always good. Even if you just call a customer one time, you will leave an impression.
Communication process shall be well designed and controlled. That is why salesmen when doing cold calls, are salesmen and not just everybody. Making calls is for skilled people who know how to sell.
You would need to have a master sales manager who supervises the salesmen making cold calls. Without the appropriate person supervising the communication one cannot get a proper answer "Should I cold call?"
A master expert in cold calling would tell you YES.
Your marketing statistics should always use multiple communication lines, and you would count:
- emails sent
- SMS sent
- calls made
- letters sent
- brochures & gifts sent
- leads generated
and so on
Cold calling is especially important to attract those people who don't use Internet, and there are many of them.
It doesn't matter how old or how new the business, in my opinion COLD CALLING will never disappear, and over half of my business exists as results from COLD CALLING. COLD CALLING is not an easy thing to do, but it can be very rewarding. I love building relationships, and always like to follow-up with an e-mail that has my picture in my address information. I believe it is important to put a face to a voice and name.
Also, it is good to always try to compliment the recipient on something, whether it is the way they answered the phone, the tone and friendliness of their voice, their politeness. People like to receive compliments, and it is always important to make sure it is a good time for them. After all, their timing is what is most important, not what you have to say.
as someone who has been in the game for 20 yrs yes it certainly still works if done properly. Format I use is call then send info then follow up call. about 1 in 15 ROI
I believed if the insurance company is changing due to advancement in technology and globalization, we also need to have a positive correlation with the changes in terms of being renovating and creative!
Anything that gets you noticed is what you should be doing. Try cold eMails, cold calls, be part of your local Chamber of Commerce, write a newsletter, offer insurance tips and review. Write a blog for your website, assuming you have one.
Many companies have switched over to lead generation marketing as a method of filling an inside sales pipeline with more qualified leads. Digital marketing is more efficient than cold calling for most situations in insurance.
Cold calling still happens but I believe it is more about indirect marketing these days! Try to join groups on social media to talk more about your product and the benefits that it offers.
Its still appropriate . We have been lucky to have our clients spread the word about us.
Cold Calling, while having its merits, is kind of unneeded in a world where you can e-blast thousands in a few seconds. Socail Media has taken over the world and you can't let yourself fall behind. Direct mailings are great, but again, the probability of them just getting tossed in the trash is like 93% or something. Don't forget that you and a ba-jallion other companies are doing direct mailings and also are doing e-blasts, posting on social media and have tons of people in their network. The trick is to offer a service of product that develops a demand, this can be in form of flashy advertising, or a cool marketing campaign.
I agree with Alex - It depends on your business. I'm a graphic designer, and have never done cold calling. I've done some mailing too (through my chamber of commerce), but never got work out of that.
When it comes to reaching the right target or prospects, Cold Calling, may not be the hottest way to reach. Yet, it cannot be given a cold treatment either. It is one method which still works.
My definition of cold calling since 1992 has been "waste of time." I have upgraded it since the onset of the Internet to "total waste of time." Oh, some people make sales cold calling - but not nearly as many as with referrals, by a margin of 50-1. Whatever your thoughts are about cold calling - one fact is undeniable: of all the options, the cold call is BY FAR the lowest percentage sales call.
Having just wrapped up mid-term elections, cold calling does still exist! While there are a lot of new technologies on today's campaigns than there were in the days of say, President Kennedy, volunteers stilled manned the phones.
I worked in the primary season as a campaign manager for a State Senate candidate. He had NO money, as he was a first-time candidate, so funding came solely from his pocket. He relied on door to door and social media, but for those who didn't answer, or for anyone who gave a volunteer a hard time- they were put on the cold calling list. There's nothing like getting to hear someone's perspective and not watered down by a general multiple choice survey.
I am currently helping with funding for a new foundation, and that's all I do, aside from your new age social media outreach- cold calling. Because this way, I hear the persons voice, or they hear me and the relationship is different, much better. And they can't avoid an e-mail.
But there is a much larger audience with using today's technologies that is helpful, so don't rule that out. If you're in the insurance business and you want to be notice, make sure you have a Twitter. You don't even have to Tweet! The marketing trick there is to follow as many people in your area as you can because they may not follow back, but they'll notice you followed them! And put stuff out there on Facebook and LinkedIn. Use what is new because it does still help.
But there is nothing wrong with cold calling, as long as you don't sound like a regular sales person. And if its someone you really need and you still can't get in touch with them, that's what field trips are for!
I hope that helped!
Targeted cold calling still works. Direct mail generally nets about 0.1-0.5% response. Target cold calling will net better that that. Simply because you are there and there is a presence. The down side is the time.
Only you can put the economic value of you time.
Like many the path of least resistance would be to call on referrals from happy customers.
Good luck. and keep smiling.