Imagine this: you’re a sales rep, and you’re tasked with reaching out to a potential customer. You have two options: send a cold email or make a cold call. Which one do you choose? The answer, my friend, depends on a few key factors.
Cold Email vs. Cold Call: The Ultimate Showdown
Both cold emails and cold calls can be effective, but they each have their own strengths and weaknesses. Cold calls are more personal and immediate, but cold emails are more scalable and efficient. So, how do you know which one to use?
Time of Day and Day of the Week
The best time to make a cold call is typically during the afternoon, between 3 pm and 5 pm. This is when people are most likely to be at their desks and have time to talk. The best time to send a cold email is either 10 minutes before or after the hour, when people are checking their email during transitions.
The Ask
If you’re asking for something big, like a meeting, a phone call is probably your best bet. This gives you the opportunity to build rapport and persuade the prospect in real time. If you’re just trying to gather information or gauge interest, an email may be a better option.
Level of the Prospect
Higher-level prospects are more likely to answer phone calls and may prefer them over email. Individual contributors are less likely to answer phones and may prefer email. If you’re not sure what level the prospect is, it’s always best to start with an email.
Buyer Persona
Millennials tend to prefer email over phone calls. Professionals in customer-facing roles may be more comfortable with phone calls. Individuals in traditional industries are typically accustomed to phone calls.
Deal Momentum
If the deal is moving quickly and the prospect is responsive, an email may suffice. If the prospect is unresponsive or facing bureaucracy, a phone call may be faster and more effective.
Cold Call vs. Email Statistics
Here are some interesting statistics to keep in mind:
- 31% of sales reps find personalized manual emails most effective.
- Cold calls typically have a 5-10 minute window to appeal to the prospect.
- Discussing ROI in cold emails can reduce responses by 15%.
- The best days for cold calls are Wednesday and Thursday, between 11 am-noon and 4-5 pm.
- Personalized emails have better open and click-through rates during late morning and late afternoon.
- Cold emails with CTAs gauging interest perform better than CTAs for arranging meetings.
- Top-performing reps need 5 outreach attempts, while others need 8 to initiate a conversation.
- Increasing call attempts can increase conversion by 70%.
- 48% of reps don’t follow up after a cold call.
- Cold email response rate is typically 1%.
- Only 24% of cold email pitches are opened by recipients.
Conclusion
The best choice between cold emails and cold calls depends on the specific situation. By considering factors such as time of day, the ask, the level of the prospect, the buyer persona, and the deal momentum, sales reps can optimize their outreach efforts for maximum effectiveness.
Bonus: Remember, the key to successful cold outreach is to be persistent and never give up. The more you reach out, the more likely you are to connect with a prospect and start a conversation. So, keep dialing and keep sending those emails. Eventually, you’ll find success.
Frequently Asked Questions:
What is the best way to start a cold call?
Start by introducing yourself and your company, and then state your purpose for calling. Be brief and to the point, and try to find a common ground with the prospect.
How do I handle objections on a cold call?
Objections are a natural part of the sales process. When you encounter an objection, don’t get discouraged. Instead, try to understand the prospect’s concerns and address them head-on. Be empathetic and try to find a solution that works for both of you.
How do I follow up after a cold call?
After a cold call, it’s important to follow up with the prospect. This can be done via email, phone, or social media. In your follow-up, thank the prospect for their time and reiterate your value proposition. You can also offer to send them additional information or schedule a meeting.
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