When it comes to cold calling for the RegTech industry, popular opinion tells us we are experts. But we didn’t get to where we are today by magic – it took a lot of hard work and learning on the way up, gaining experience and know-how from years of cold-calling. We thought we’d share a few little stats and bits of wisdom we’ve picked up over the years, that help to shine a light on how we work.
1. The best time to make a cold call is in the afternoon between 4:00-5:00pm. The second best time is 8:00-10:00am.
Catch people at the end of the working day when they’ve finished all the important stuff on their to-do list – you’re so much more likely to get a good response.
2. The worst time to cold call is between 11:00am and 2:00pm.
We’re not saying don’t call during these hours, but just expect to leave a lot of voicemails.
3. Thursday is the best day to cold call. Wednesday is the second best day. Tuesday is the worst day to cold call.
Take our word for it – if every day was a Thursday, we’d be sitting on a giant pile of money, sipping champagne and smoking fine cigars by now.
4. Top cold callers use LinkedIn 6 hours per week.
That’s right – 6 hours. It’s one of the most useful tools we have for identifying prospects and getting to know the market.
5. It takes Gungho an average of 4.18 cold call attempts to reach a prospect.
Persistence pays off, as our experience has shown that its often fourth (and a bit) time lucky for our cold callers.
6. Your average salesperson attempts to reach a prospect on only two occasions. (Source: SiriusDecisions).
This is why Gungho really can support your sales team – while most sales people give up half way up the mountain trying to reach a prospect for the first time, we don’t stop until we reach the summit.
7. On any given day, 1% of the cold calls we make result in a great appointment for our clients.
We never said what we do was easy! We have to sift through an awful lot of haystacks to find our needles, but it’s worth it when we do.
8. The average Gunghoer makes 12.5 dials per hour
It’s tough work, but it helps that we have a fab team of positive & highly driven people and we all work together to build momentum and keep up a healthy spirit of competition.
9. 50% of sales go to the first salesperson to contact the prospect. (Source: InsideSales.com).
The early bird gets the worm, so be sure to get to your prospect first – there’s no prizes for coming second.
10. The first 10 seconds determine the response to your cold call. Make those 10 seconds count.
As Renee Zelwegger says to Tom Cruise in Jerry Maguire, “You had me at hello”. That’s what we always aim for at Gungho – hooking the prospect in from the word go. It’s what makes us the experts!