
Yet another 'Five steps to get started with cold calling'
Cold calling is not dead, but it’s not easy either. Get motivated and keep your spirits up with us.
There are plenty of other things you should worry about as a startup founder - like how to keep your startup afloat or attract customers in the first place.
There are plenty of other ways to get customers than burning money through advertising.
Inbound and outbound sales are just two sides of the same coin: they're both ways to get in front of potential customers, and they both require some amount of marketing to make sure that people know who you are and why they should buy from you.
So which one should you use? That's what we'll walk you through in this guide!
Inbound sales result from a lead generated by a potential customer reaching out to your organization through an inquiry about its products or services. You nurture the leads until they become customers ready to purchase from you.
As a startup, you don't have the resources to waste time and energy on strategies that won't pay off.
Therefore, you need to know when it makes sense to pursue inbound sales. But first, let's take a look at how the process works.
Inbound can be broken down into four phases, also known as the flywheel model.
That said, you can use an inbound sales strategy when:
Many startups don't have the time or resources to hire outbound salespeople, so they try to do it themselves.
But they don't know how to run cold calls and make appointments, so they give up before they ever get started. Inbound sales allow you to work with your existing staff and automate most of the process, so you can keep moving forward even if you don't have as much cash on hand as some larger companies do.
If you sell something that requires a lot of explanation and education, like a SaaS product or a technical service, then inbound sales can be a good fit.
For example, if you sell a software product, your sales team needs to explain how it works and why customers should buy it. You also must ensure they are skilled at communicating with prospects who are not technical.
As a startup, you may not have money to spend on outbound sales strategies like cold calling or emailing. But with inbound, create content that attracts potential customers and builds trust over time — without paying any money upfront.
Why? It's focused on content marketing and SEO to attract new leads and convert them into customers.
Inbound marketing can be a great way to generate leads, but it's essential to understand its pros and cons. Here are some of the pros and cons of inbound:
It doesn't work for all businesses - Inbound sales strategies aren’t ideal for every business. You'll probably have to invest in other marketing channels if you're selling an expensive or complicated product.
For example, it's hard to rely on organic search traffic alone to generate leads for enterprise software. Your company may need more paid advertising and content marketing assets.
Outbound sales involve contacting people who could use your product or service rather than waiting for them to come to find out about it on their own.
It’s better when you have large volumes of leads or prospects scattered across different geographies and industries.
These are often referred to as cold leads because they're not already familiar with your company or brand. Let's focus on instances when an outbound sales strategy is the best option:
This could include people who may not even be looking for your product or service.
For example, say a large technology company wants to sell its services to small businesses that don't currently use technology in their operations — those businesses would probably be considered "cold" leads since they aren't actively searching for solutions like this yet.
If your competitors have been using outbound for years and have made it a core part of their business strategy, then there's no reason why you shouldn't do the same.
As long as you’re capable, it makes sense to follow suit, expand into new markets, and bring more customers on board.
It’s easy to fall into the trap of thinking that any sale is a good sale. But that isn’t always true — especially regarding outbound sales.
Suppose you have a demographic of buyers that are highly responsive, like doctors or dentists. In that case, you can get away with using an outbound strategy without having a lot of experience with cold-calling and sales.
Outbound sales is often necessary if you sell complex products or services requiring multiple meetings before closing a deal.
For example, prospects might take several weeks to buy from you if you sell enterprise software requiring implementation services.
Generate more leads - Since outbound sales talk directly with customers, it generates leads that can help you in future campaigns or events.
For example, if you talk to someone on the phone and they express interest in your product or service but do not want to buy it now, then you can add them to your email list so that they get updates about your new products or services in the future.
Expenses include phone service charges, office supplies, and telephones. Whether or not the outbound sales strategy is successful, you must pay for these costs. However, it doesn’t have to be that expensive, thanks to some tools like Myphoner which make it simpler and more affordable.
So, what's the verdict? Inbound or outbound? Which one is right for your startup?
Well, it depends. If you have a lot of time on your hands and want to spend reaching out to prospective customers, then outbound might be the way to go. But if you're busy and want to focus on improving your product, then inbound is a better option.
If you're not sure how to start, here are some quick tips:
For inbound sales:
For outbound sales:
But at last, the best way to succeed at marketing is all about balance: take care of inbound activities while simultaneously reaching out to people through outbound efforts.
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Cold calling is not dead, but it’s not easy either. Get motivated and keep your spirits up with us.
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I'm Daniel! Head of Customer Success here at Myphoner. Over the past (almost) decade, I've worked with multi-national corporations as well as a handful of start-ups to transform their support experience into something truly exceptional.
At Myphoner, I spend most of my time trying to understand our client's experience and thinking of ways to improve it. My wish is for all our clients to be enabled to unleash the power of Myphoner within their businesses.
Simple lead tracking solution through a unique cold calling workflow.