HubSpot Cold Calling Statistics
This article will discuss cold calling efficiency, the Days of the week to make calls, and the number of calls necessary to convert a lead to a customer. After reading these cold calling statistics, you’ll be well to success!
20 HubSpot cold calling stats
With its marketing automation tool, HubSpot makes it easy to automate your sales process. Cold calling statistics show that 63% of salespeople despise the practice. And while most buyers and sellers do not interact with cold callers, the results are still incredibly relevant. 80% of buyers and sellers will not even interact with cold callers. That’s a big deal. Luckily, there are many ways to automate the process and avoid negative consequences.
HubSpot defines inbound marketing as “marketing that attracts potential customers.”
For instance, inbound marketing includes advertising, paid lists, and telemarketing.
On the other hand, outbound marketing focuses on acquiring customers through a process that creates an ongoing relationship. Cold calling, advertising, and purchased lists fall into the latter category. The best way to automate the process is to use HubSpot’s B2B marketing software.
While 72% of sales calls are unanswered, phone calls stand out in a sea of 115 emails and voicemails. Cold calling software can help you engage with more potential customers by boosting your sales process and maximising the effectiveness of your phone calls. While cold calling is a necessary component of sales operations, it can be challenging and frustrating. That’s where cold calling software comes in. Your sales rep will be more effective than ever with the right cold calling software.
The efficiency of cold calling
In today’s noisy B2B ecosystem, cold calling can seem like an old-fashioned marketing strategy. Critics of the practice often portray it as a spray-and-pray approach, but cold calling holds up under scrutiny and is still a viable strategy for your business.
A dial attempt results in a conversation 3.80% of the time than a follow-up dial.
Conversely, a follow-up dial attempt produces a conversation 5.13% of the time. In addition, dial yield increased by 35% compared to cold calling. These results were based on dial attempts made by sales representatives. They did not include follow-up calls with prospects who answered their phone sporadically. It is important to remember that not every customer is a good fit for your product or service.
Consider their needs, preferences, and buying habits before attempting to sell a product or service to someone you’re not interested in. Remember, cold calling is a proven outreach strategy, and digital sales strategies can be effective. Cold calling may not be as effectual as they once were, but it still has its place in the sales cycle.
As a sales tactic, cold calling continues to be an effective method because it is an initial touch point for a prospective customer. 76% of salespeople say that engaging new contacts at the right time positively impact conversion rates. While many people think that cold calling is a bad practice, the truth is that it is an essential part of building a business and creating a pipeline of potential customers.
Cold calling is also a disruptive practice that annoys many customers.
Many cold callers conduct their business late at night, putting clients in an uncomfortable position. Some customers would rather sleep than take a call, so cold callers have to drag them out of bed. Cold calling is a hassle for customers, and no one wants to spend time on it. And while cold calling may be effective, it is a time-consuming and inefficient practice.
Days of the week to make calls
When making cold calls to prospects, consider a few factors. For starters, people are more likely to be open to talking about a product or service during the morning hours. In addition, most people begin work on Tuesday and plan their week for the coming week on Monday. They are generally done with work by the end of the week and may be reluctant to discuss any business with a stranger. Consider calling at least one hour before lunch to make the most of these hours.
The best days to make cold calls include Wednesday and Thursday. This is because decision-makers are more likely to be open to new opportunities. But don’t get discouraged! There are days when cold calling is effective despite your schedule. Wednesday and Thursday are great days to dial numbers and connect with decision-makers. However, there are also days when you should refrain from cold calling on Monday.
These days are prone to team meetings and are not conducive to success for many people. Mondays are notorious for being the busiest days of the week. Many decision-makers are tied to their business from the weekend and have very little time to spend on cold calling.
Insight Squared recommends calling when connection rates are highest between 10 am and 4 pm.
Calling early in the morning is another way to annoy your prospects. After all, most people aren’t excited to hear from an unknown caller early in the morning! If you’re considering using cold calling as a sales strategy, Wednesday is the best day. Customers and prospects respond best to calls between 4:00 am and 5 pm, but you can try calling customers during other week times. Try a few days in a row to see how effective these techniques are. As long as you tailor your call schedule to the needs of your specific prospects, cold calling can be a highly effective tool for connecting with prospects.
Number of calls needed to convert a lead to a customer
In the modern business world, cold calling is common to convert leads into customers. While it works great for some companies, many businesses still use cold calling. These reps believe that if a lead is not ready to buy, they will drop out, making call after call. Using the same script, these reps focus on selling rather than finding a solution to their customer’s problems. According to a Heinz Marketing study, only 22% of salespeople have a formal referral system.
However, the fact remains that these leads are a lost opportunity. When should you give up and move on to a more productive lead generation strategy? Generally, salespeople should aim for six to eight calls per warm lead or 18 calls per prospect. However, it is also important to remember that salespeople need to make three attempts before closing a deal. According to a recent study by Velocify, it takes six attempts to close a deal. Only 50% of decision-makers get your first call, so most salespeople give up after their second attempt.
Additionally, according to a Chorus study of five million calls, it takes 106 attempts to convert a lead to a customer. While only 27% of cold calls will connect, quality is always more important than quantity. Using social media to target prospective customers is one way to make cold calling more effective. Research has shown that calling after work hours makes people more likely to answer the phone. The days of the week when most people are free are Wednesday and Thursday.
However, Mondays are a busy day for business clients and new projects. Thus, the right time to call is dependent on the type of lead. Software and live chat companies always opt for cold calling over the latter. Visuals can provide only minimal guidance and are less effective in convincing potential customers of the product’s benefits. Cold calling requires two-way communication between the sales rep and the prospective customer. The sales reps can close more deals and earn more money than their counterparts.
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