Like roulette, where every spin of the wheel has approximately an even chance of coming up red or black regardless of previous spins, each cold call a person makes has the potential to be a winner. (Photo: Shutterstock)
Consumers don't want to be called. Ask a person in sales and they will tell you they detest cold calling. The national Do Not Call registry has 229-plus million numbers on it. To put that into some kind of perspective, according to Statista, in 2017 there were about 126 million households in the US. Approximately 138 million people voted in the 2016 general election. Apparently a lot of people don't want to be cold called. Why do people do it?
Because it works.
It's often said prospecting in general and cold calling in particular is a numbers game. If you used the logic that the chances of success are so low that it's a waste of time and money, then no one would play the lottery either. Yet according to Gallup, in 2016 about half of all Americans say they have played their state's lottery.
Minimal cost, substantial payoff
Lotteries and cold calling share two characteristics: The cost is minimal and the payoff is substantial.
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