[Tactics] Cold Calling: How to nail the first 60 seconds (where 80% of reps fail)
Jan 3, 2024
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The podcast discusses the challenges of cold calling and provides tactics to nail the first 60 seconds. They emphasize authenticity in cold calling, introduce permission-based openers, and discuss the importance of addressing prospect priorities. The episode also teases upcoming episodes and a live training session on cold calling.
The first 60-80 seconds of a cold call are crucial, as 80% of cold calls fail within this timeframe.
Focus on having an authentic conversation rather than pressuring for a meeting to break the traditional dynamic and foster a peer-to-peer relationship.
Deep dives
The Low Success Rate of Cold Calls
According to Gong, the average success rate for cold calls is only 1.48%. This means that out of every 60-70 cold calls made, only one will result in a positive outcome. The podcast highlights that the first 60-80 seconds of a cold call are critical, as 80% of cold calls fail within this timeframe.
Objective of Cold Calls: Authentic Conversation, Not Immediate Meetings
The podcast emphasizes that the objective of a cold call should not be to immediately land a meeting. Since the prospect doesn't know the caller, it's important to focus on having an authentic conversation rather than pressuring for a meeting. The goal is to break the traditional dynamic of the prospect being chased by the seller, and instead foster a peer-to-peer relationship.
Permission-Based Opener as a Strategy
The podcast recommends using a permission-based opener during the first 60 seconds of a cold call. This approach involves getting the prospect to opt-in and participate in the conversation. Examples of permission-based openers include asking if the prospect has a minute to hear the reason for the call or addressing a specific trigger or event relevant to the prospect's situation. The podcast also emphasizes the importance of maintaining a friendly and conversational tone throughout the call.