Since the start of COVID-19, there has been some uncertainty as to which businesses would still benefit from B2B cold calling.
How has COVID-19 affected this tactic, and what does the state of cold calling look like since the pandemic began?
Heavily impacted businesses
The pandemic hit some businesses harder than others. Some have closed their doors and taken a pause, while others continue to run during the pandemic. Many have shut down for several months, or dialed back significantly in an effort to avoid economic strain during this trying time.
For this reason, many businesses may not consider making purchases during COVID-19. What’s important to keep in mind, though, is that they will be buying again.
With businesses impacted so heavily by the pandemic, it may seem early to strike up a sales conversation. However, engaging in cold calls and getting in front of these businesses is still a good idea. The nature of complex sales includes a long sales cycle. Hosting conversations when things are slow is a great way to establish brand awareness and put your name on the company’s radar.
Research suggests that “companies are more likely to thrive if they act aggressively to capture market share” than by waiting for other businesses to fully recover (Source).
Moving quickly to connect with prospects and focusing on providing value during the pandemic offers an opportunity to introduce them to the products or services that could help their business rebuild or restructure.
Mildly impacted businesses
50% of businesses that were less affected by the pandemic are not holding off on purchases.
Some companies have even experienced an increase in business throughout this period, depending on the products or services they provide. Brands that are seeing a boost in business during this time are key connections. These prospects may be equipped with room in their budgets to implement new products, solutions, and systems.
Companies may have increased budgets due to the reallocation of funds that were originally set aside for travel or conferences. With unused funds from those now-defunct occasions, businesses are able to reinvest in solutions that your company offers.
One of our newer clients chose to hire our team at JMS Elite for cold calling assistance using their reallocated travel budget. When the door closes on business travel, another door opens on the opportunity to improve other aspects of your business. Our client was used the funds to hire an experienced team of B2B sales professionals for outsourced inside sales to get ahead during this unique time in the world of business.
Another reason mildly impacted businesses may be prepared to implement new systems now is because they are planning ahead. Companies are ramping up initiatives which were originally scheduled for a later date as a way to prepare for their full return to business.
Right now is the optimal time to connect with companies that are adapting and seizing the opportunity to take on innovative products and solutions.
The state of cold calling
We can say with confidence that the state of cold calling right now, as well as its outlook, is extremely positive. Engaging in cold calling is a good idea right now for so many reasons. Businesses are looking forward and thinking about the post-pandemic future.
What better way to aid them as they prepare for change than by offering your unique products and services while they have the chance to engage?
Right now, it may be easier than ever to reach decision makers and set up meetings through cold calling. Slowdown from the pandemic has reduced both internal and external business meetings. With many businesses paused, your target prospects are equipped with more time to focus on planning.
Reaching out to prospects during pensive moments can lead to a conversation about their business pains and your fitting solutions. Decision makers may be more willing to listen to new ideas or revisit a previous solution at this time.
The pandemic has taught us the importance of flexibility and innovation when it comes to running a business. Going out on a limb and thinking outside the box has rewarded many executives. In looking for new opportunities, pursuing a solution your company could offer a way to improve their business functionality. Picking the phone up to connect during this slow time can capture attention and bring the potential to work together in the future.
After months of living through screens, both in business and personal life, it is all too easy to become numb to all the marketing efforts out there.
Engaging in cold calling and including personalized messaging to connect with prospects is the key to cutting through the noise.
A phone call offers something different to people who have been communicating through screens for weeks on end. Instead of letting your message melt into the rest of the marketing, cold calling allows your brand to stand out by combining personalized messages with a physical means of contact. In today’s day and age, something like that is very hard to ignore.
Cold calling prospects offers a much-needed human experience in a way that other automated and digital sales tactics can’t. Marketing statistics consistently convey the importance of remaining empathetic; engaging an actual conversation is the best way to do that. Humanizing the customer experience, personalization, and simply being human shouldn’t be underestimated.
COVID-19 instigated an onslaught of messaging that all seemed to be exactly the same. Picking up the phone and creating a real connection will help your name rise above the rest.
Cold calling isn’t going anywhere. If anything, it’s more important than ever.
The bottom line is this: whether a business has been open throughout the pandemic or recently reopened after a long closure, cold calling is an effective method to connect with prospective customers. Whatever the pandemic brings, cold calling will be an effective to foster a valuable and lasting business relationship.
If you are interested in discussing the state of cold calling and how it could benefit your business, please do not hesitate to reach out to us with your questions and inquiries.