A blog from Frank Rumbauskas: Which I support from my own personal experience in New Business Development
"Those who are chased never want to be caught."
Several years ago I spent time, both in interviews and in the field, with experts in the science of social dynamics.
I wanted to uncover the secret of exactly what it is that makes us want to avoid people who pursue us, whether that person is trying to sell something, trying to convert you to their religion, trying to get a date with you, or anything else for that matter.
And the conclusion I reached is just that: Those who are chased never want to be caught!
Why You Can't Sell Me
Here's a great example: As a business owner, cold callers never reach me.
And the really bad news is that this is the case with nearly all decision makers! The reason why cold calling has such a low success rate, as a percentage, is because 4 out of 5 of us are unreachable.
To make matters worse, it's now a common tactic for decision makers to dedicate a separate voice mail box just for cold callers, and guess what?
It's never checked!
That's right. If you're wondering why your messages aren't returned, it's because your prospects never get them in the first place.
Is this rude? No, I don't think so. As someone on the "decision maker" side of the table rather than the "salesperson" side, our definition of rude is receiving a cold call in the middle of a busy day when we're already behind on work.
Another point to keep in mind is the statistic I love to quote, from the study done by the business school at the University of North Carolina that concluded that 80% of business decision makers in the US absolutely, positively will not buy as the result of a cold call.
Why is this important?
Well, aside from the obvious fact that cold calling is a waste of time, is the fact that 20% of those people will buy from cold calls. And therein lies the problem.
As long as those 20% are still buying from cold calls, salespeople will continue to delude themselves into thinking that "cold calling works!"
Seriously - the average success rate from cold calling is 1%, and among the very best of the best, it's 3%.
Three percent! But is this any surprise when only 1 in 5 decision makers will even respond to a cold call in the first place?
If that 20% of the market would just stop responding to cold calls, people would wake up to the fact that it's a zero-results game, and they'd finally give it up and do something more productive to generate leads.
But, I'm not complaining. As long as the majority of salespeople continue to cold call and keep on fighting each other over that 20% of the market, the rest of us are free to go out and close sales with the other 80%.
But back to the point: "Those who are chased..."
If you're cold calling, it means you're chasing. And those who are chased never want to be caught. It's human nature - something that's hard-wired into our brains from the caveman days when being caught meant that you'd be a wild animal's dinner. There's simply no way around it.
As long as you're chasing, people will avoid you.
And that's why you need to...STOP THE CHASE - NOW!
There's really no sense in continuing to cold call when even a university study concluded that 4 out of 5 people will never respond. That's pretty bad odds. And in terms of actual sales success, it's even worse than that.
And now you see the reason why it automatically pushes people away, at a deep hard-wired level.