"Cold outreach is dead!"
We've lost track of the number of times we’ve heard people declare that cold outreach is finished. And yet here we are, in 2024, and it's still alive and kicking.
Sure, it's not quite the same as it used to be. These days, it's a far different process from picking out names in a phone directory and hoping for the best. How buyers choose and evaluate products has changed over the last few years, and cold outreach has evolved with it.
Customers rarely buy anything the first time they hear about a product. These days, buyers need as many as 6-8 touch points before deciding to pull the trigger.
Similarly, buyers are way more informed than they used to be. The internet means that prospects have access to endless amounts of material and reviews. When they link with an SDR, they’re looking for a deeper discussion about how the product helps their business specifically, rather than a long info dump.
Here are 15 cold outreach stats that can help you improve your win rate in this new era of outbound sales.
Benchmark your sales outreach
Thirty-five calls a day and an hour making sales calls is the average. If you want to be above average, you’ll need to beat that number.
Be upfront
SDRs who tell prospects the reason for their call have 2X conversion rates
People appreciate honesty. If you go into a sales outreach call, be upfront about why you’re making contact, not least because it will boost your conversions.
Timing is everything
Weekdays between 4 PM and 5 PM are the best time to reach buyers.
They say timing is everything, and it’s true in the sales outreach world too. When everyone is getting ready to shut down for the day, use the last hour to connect with difficult-to-reach prospects. Prospects are surprisingly receptive between those hours.
Be proactive
82% of buyers accept meetings with SDAs who reach out
Sales outreach is all about being proactive. If you’re an SDA, this stat should provide you with lots of confidence about “getting in the room”. If you offer a meeting, 4 out of 5 buyers will say yes.
Opening monologue
Sales calls with opening monologues of around 67 seconds are the most successful
An opening monologue of 67 seconds (excluding introductions) gets the best results. So time your script!
Always follow up
35% of leads never received a follow up call after the first failed attempt
This stat is shocking. Prospecting is hard. It requires a lot of research and effort. But if you don’t get through to your buyer after the first time, you need to try again until you make contact or look for alternative ways to get in touch, like LinkedIn, their office number or email.
Talk numbers
Discussing pricing on your first call can boost your win rate by 10%
You’re going to have to discuss numbers at some stage, so do it during your first call.
Midweek gets results
If you want to reach prospects, try them on a Wednesday or Thursday
Midweek is the best time to reach prospects, according to statistics. For many people, Monday and Tuesday are for catching up on work, and Friday is for winding down. So catch them in the sweet spot.
Bad timing
Asking prospects if “now is a bad time” can slash conversions by 40%
Inquiring if it’s a good time to talk is super polite. But giving your prospect an easy way out can cost you meetings and conversions.
15 minutes is more than enough for prospecting calls
Prospecting calls that last less than 15 minutes are the most likely to lead to demos or meetings
You don’t need to take up your prospect's day to get demos or meetings. Keep calls focused and punchy and under 15 minutes.
Embrace the challenge
Over 60% of SDRs say cold outreach is the worst part of their job
Cold outreach is the most challenging part of sales. It requires resilience to brush off rejection. But just remember that each unsuccessful call brings you closer to the next conversion.
There’s no “I” in team
Successful sales outreach calls used 65% more collaborative words like “we”
Using the word “we” rather than “I” shifts the tone of the conversation away from the individual and towards a more collaborative place.
Don’t forget to be polite
Calls that start with “how have you been?” have a higher chance of resulting in a meeting
A little common courtesy goes a long way. Asking after your prospect can loosen them up and get them talking, making them more receptive to a meeting.
Budget your time
Unsuccessful sales outreach calls last an average of 3 mins; successful calls last around 5:50
Unsuccessful sales calls last around 3 minutes. So don’t hang around trying to convert someone who's not interested: use your time more productively.
Persistence is crucial
Making up to six attempts to call a prospect can boost conversion rates by 70%
There is an old story about Robert Bruce, the former King of Scotland. He’d had a rough first year as king and had lost a battle to the English army. Hiding out in a cave, he was ready to give up. Then he saw a spider making a web. It kept failing, but it kept getting back up and trying again.
Sales outreach requires persistence. The statistic above shows that if you try to get in contact with a prospect but can’t connect, you should keep on trying. Aim for six attempts before giving up —it can lift your conversion rates significantly.
Conclusion
The buyer's journey has to start somewhere, and cold outreach is as good as a place as any. Sales outreach isn’t dead as long as you do it strategically.
When you do book a meeting, just make sure you have somewhere cool to send your prospect, like trumpet. Our sales software allows you to build microsites where you can share the documents, videos, and conversations you need to get each sale over the line.
