Cold Calling 101: Everything You Need To Know As A SaaS Seller.
Cold calling. Most people in sales roles have a love-hate relationship with it. It can be tedious, and you can be met with a mixed bag of outcomes, but it can also be the quickest route to an effective touchpoint with a prospect. You could watch your CRM like a hawk, waiting to see if they’ve opened your email. Or, with a cold call, you can reach someone and get a gauge on the lead, now.
Software as a Service (SaaS) organizations are ever-evolving, with more and more businesses moving toward an outbound sales motion. It’s crucial to be strategic with your time, as the top of the sales funnel can be a daunting place. Prospective clients are more keenly aware of when they’re being sold to, so the classic email drip approach won’t be very impactful on its own, even if you do make it past the spam filter. Cold calling is arguably the best supplemental approach for making initial contact with a lead. But where should you get started? Let’s dive in.
Narrow your target, and be consistent
It’s 2024, and we’re still met with the age-old question: Do people still pick up their phones? The short answer is yes, but the trick is consistency. It takes on average, 6 calls to a prospect before you get a pick-up.
But before you start, you need to establish who you’re looking to target. When conducting outbound prospecting, choosing a random big-name logo is one way to move your pawn. You need to start somewhere, and sometimes you get lucky with a shot in the dark, right? Opting for potential target accounts with well-established logos may seem enticing, but in an oversaturated sales market, a more prescriptive methodology proves wiser.
Many software tools on the market are great for procuring intent data from specific organizations. These tools are quite sophisticated, producing web searches from employees at the company (their intent), and filtering by keywords searched, site interactions, and distinct contact properties so you can curate a much more targeted contact list. Once you’ve used a tool to identify companies with the right intent, you can make your plan to pick up the phone.
6 calls can seem like a lot for one prospect, especially when you have other to-do’s on your plate. Cold calling is all about trial and error, and what works for one prospect may not work for another. Try to diversify your target account contact list with a mix of end-users, decision-makers, and executives to kick off your pipeline with promise.
The not-so-pitchy pitch
The “most effective” strategy for the pitch is always evolving. The once-standard request for a 30-second elevator pitch at the top of the call has given way to a more nuanced and personal approach.
This is because prospects are now much more sales pitch-averse. The go-to method now is to be quick, personable, and have a reason for the call. It’s all about being yourself, with a splash of your natural charisma. Here are a few quick tips for success:
Ask them how they are. Be genuine with your ask!
Tell them you’re reaching out to see if they’ve received your other communication (text, email, LinkedIn message).
Don’t try to qualify them then and there. This can be overwhelming, and anyone rarely has the time.
Ask when (not if) they have time that week for a video call to chat more in-depth.
Throw in something personal if you can find it on LinkedIn. Congrats on a new certification or work anniversary is a great example.
Make an offer. Free demo? Free trial or sample of the product? Reward them for engaging in your call.
You don’t have to hit every piece of advice in the bullet point list above, but a mix of a few will usually lead to success. Every prospect is different so be kind, genuine, and try to match their energy.
Objection-handling on the phone
Similar to a discovery call, objections during a phone call are par for the course. Skillful objection handling on the phone involves steering away from binary "yes" or "no" responses. For instance:
Prospect: “I’m not the right person to speak with.”
Instead of debating the validity of that claim so they can answer with “no”, accept it and move the conversation forward.
You: “Oh my apologies. Who is a better person for me to reach out to?”
Prospect: “I didn’t read your emails.”
Asking them if they’d like to hear a summary of the emails gives them the opportunity to say “no” or “not right now”. Instead, tell them it’s no problem and give them a 3 sentence summary that functions like a pitch, but delivers like a friendly person happy to fill them in.
You: “Oh no problem! I’m sure you’re busy. I realize that your company has been evaluating products like ours. I was just calling to see if you had booked your free demo yet. Can I put you in for Thursday?”
If a cold call elicits a negative response, that’s okay. In that case, gracefully wrap up the conversation. Avoid prolonging the call with an irate or uninterested prospect, as it risks burning the lead relationship. Respect boundaries, and if the prospect expresses disinterest, move on to the next contact.
Confirm the next steps, and make them count
With the steps outlined in this article, you’re sure to reach the finish line with some of your calls and confirm the next steps. Maybe that’s a demo over Zoom. Maybe it’s a chat with another salesperson. Whichever it is, give them a few options for a follow-up meeting they can choose from while you have them on the phone. Then, you can send an event invite, and an email thanking them for the call and confirming the next steps.
While you’re doing this, it’s also important to ask if there is anyone else on the team who should be looped in. This saves them time and is advantageous for you; the more leads you can pitch the value to, the better your chance of success. The more the merrier!
There are so many ways you can tackle crafting a prospecting approach. Cold calling can feel like a daunting step in the sequence, but it proves to be fruitful for making that first connection with a lead. If you’re friendly, consistent, and unafraid of an objection or two, your pipeline will grow in no time.