Do you get the chills just from hearing the words ‘cold calling’? You’re not alone; many entrepreneurs and sales professionals would also prefer ‘hot’ acquisition. 

A healthy customer database
Both types of acquisition are important for your customer database. Although you are probably very happy with your portfolio of existing customers, you will have to engage in acquisition at some point in order to add new contacts to this database every now and then. After all, it is possible that you will have to say farewell to a customer because of a merger or bankruptcy. Or because your customer no longer needs your product or service. And if that happens, what then? How can you fill in that gap? No customers means no turnover and therefore, no business. At times like these, part of the turnover has to come from new customers. This is why I truly believe that entrepreneurs regularly have to engage in both cold and hot calling in their acquisition efforts in order to keep their customer portfolios healthy. 

Cold calling: scary?
It is however common knowledge that cold calling is not the top priority for many entrepreneurs. Cold calling is often only done when a business is in dire straits financially. Unfortunately, it will be too late for cold calling by then; after all, this takes time and effort! Cold calling costs more energy and effort than hot calling. Getting a new assignment or order in within a couple days is rare and typically only happens sporadically. You usually need to have a lot of patience and perseverance. It can also take weeks or months (and in some cases, even years) before you manage to bring in a new customer. You have never met or spoken to one another before that first phone call, and it takes time to get to know one another and gain enough trust to do business together. The result in the form of an order or assignment may take longer, but ultimately often bears fruit.

Expanding your network
Cold calling is not only a good way to build or expand a customer database; an added advantage is that it gives you the opportunity to increase your network and thus the chance of coming in contact with new customers.  

Cold calling is not just ‘making a phone call’
Preparing for a phone call is the most important step in cold calling to ensure successful contact with your new customer. It is not merely a matter of picking up the phone and dialling numbers at random like a headless chicken to introduce your product or service to potential customers or to make appointments. This approach is guaranteed to give you a case of cold feet. When you go about it this way, you’ll hear ‘No’ or ‘Not interested’ more often than not, and this is if you’re lucky. Sometimes, they even immediately put the phone down or give you an impolite response in return. Such a waste of your time and energy! 
Cold-calling action plan
It is necessary to gather as much information about your potential customer’s company as possible before you make the call. Without this information, it’s difficult to estimate where your potential customer’s needs lie. Make sure that you lay a good foundation with your potential customer before starting the conversation, and learn what you have to offer one another. To prepare yourself for your phone calls, ask yourself the following questions:

1. Where can I find a good list of prospects for customers in my target group?
2. What is going on in my potential customer’s industry?
3. Do I have enough background information about my potential customer?
4. Why do I want my potential customer to do business with me?
5. What do I have to offer my potential customer? What is my added value?
6. Should I send out emails beforehand?
7. When will I make the calls?
8. How many appointments do I want to make, and when do I want to make them?

I believe that cold calling is a unique way to establish contact with potential customers. Telephone acquisition is also the most effective way to keep your customer portfolio in order. Telephone acquisition is a matter of having a lot of patience, sowing, sowing and sowing some more, and then reaping the benefits! Don’t wait until it’s too late to start, but make it a regular, nearly daily activity so that you can keep your ‘basket’ filled with enough customers!

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