Selling By Research (SBR) : THE FATE OF THE COLD CALL
The answer is simple. Because of the internet and globalization.
Tell me one thing. Suppose you are the customer and you have allotted one hour of your precious time to Mr.X who is from a company manufacturing water-line valves. Say, you carry out turn-key projects involving water distribution and you need some competition among your vendors. But what does Mr X do? He asks you what you do, he asks you about your projects, tells you that they manufacture valves and asks you whether you have any requirement. You conclude that this gentleman is on a cold call..What you do next depends upon the selling capabilities of Mr. X and I'll leave you people to think of a way vide which Mr. X can be penalized because of his audacity.
Now consider this. You receive a phone call from a reputed valve manufacturer who knows about your company etc. He tells you that he has learnt about your bagging a multi million dollar contract (you are impressed) and that he, Mr Y, would like to give a presentation on his valves..how they save you energy, etc)
I don't need to be a magician to tell you that the next order will be bagged by whom.
Now, let's bring you onto a secret. Mr Y received some news that the project has been allotted to your company. He then finds all about you, your requirement. He is a make approved by the consultant. He wants to come and tell you all about why his valves should be purchased. Mr Y has done his research and therefore wins.Mr Y shows the customer what's in it for him or where the customer will win, unlike Mr.X.
This is all the more true in recent times because technically almost all brands are equal. Their prices differ because of quality. Unfortunately, quality is not a tangible parameter. Whether you get the order today depends still more on your research therefore.
This , ladies and gentleman, is the art of SBR at the basic level. No more cold calls in this segment will succeed. If you recognize this and accept it, you will save valuable time.
Recently, a slogan called "Never cold call again" has become popular, but I think it was me who first said those words, in capital equipment and heavy machinery selling'. Anyway, whoever was the first, the fact remains that cold calling is a dying art and as soon as SE Asia leaves it, the better.