I made a comment on Alex Abbott's post last week, and he made an interesting comment.

In the recent Winning by Design research it shows that win rates are dropping.

As Alex says, "A close rate dropping from 26% to 17% in a business of 100 sales reps and an AOV of $100k is costing them $9M every single year."

So how are you going to get out of this nosedive as sure as eggs are eggs your leadership team are going to want to know. 

But what about cold outreach?

Here at DLA Ignite we are working with our partner Supero and their team, Alex, Jensen and Jordan.  They used to be cold callers and we have re-trained them in social selling, so what of the results?

Results for cold calling

When they were cold calling they could get 2 meetings a week.

Now with any cold outreach your job is not just to get through to an executive, but also convert that into a next action.  With cold calling, of the 2 meetings a week they were able to get, they converted 0.3% to a next action.

Results for social selling 

First and foremost, your sales team has to stop cold calling!

They are getting meetings with 7.2 people of the 100 they contact and then converting 39.5% to a next action.

This is exponential growth! 

This is also punching outside the 4% of businesses that are currently "in market".

In other words, this business will be less competitive, so you will win more and you will win it at a higher price. 

Let's not forget selling to business "in market" is great, but by also selling to businesses out of mark wil 24X my audience.  That's not 24% more; that's 2,400% more!

Please note, before I get the comments, there is 

1. No spam and no automation!
2. This is NOT connect and pitch!

The improvement from a classic cold calling response of 1% to 7.2% is impressive

But to go from 0.3% to almost 40% for a next action - That's EXPONENTIAL GROWTH

Just think about scaling that across your organisation?

If Alex's team are achieving an average of 10 new conversations each week and a 39% conversion to a next step... if you have a team of 50 sales people that's 500 conversations per week (26,000 per year) with 185 follow-up calls per week. Forever!

With a win rate of 1 in 3.

With an average deal size of $100,000.

That's an additional ...... you do the maths. 

Now is the time you need to use social selling for cold outreach!

If you want more information, contact me, or contact the team at Supero, Alex, Jensen and Jordan.  

I guess, you’ll never win with a cold call if your competition is winning the relationship.

Want to know more about social selling, check out my new book

"social selling techniques to influence buyers and changemakers - 2nd edition".

In this brand new edition, I have updated all the text, I have also got 15 practitioners, so people who are doing this already to explain how they are get (practical) business benefit. From the CEO that has been running a digital business for over 18 months to sales leaders who use social selling every day.  

Articles on how these business have and are implementing digital, from Mercer, Telstra Purple, Ring Central, Cyberhawk, Namos, Ericsson, Crux Consulting, DLA Ignite and more.

What does Mark Schaefer, Marketing guru think of the book "social selling - techniques to influence buyers and changemakers - 2nd edition"? watch the video here

It's available on Amazon worldwide.  Link to Amazon.com here and Amazon.co.uk here.