Cold canvassing is a sales technique used to find potential customers without prior qualification. It can be done through phone calls or visits, and the purpose is to introduce the company and its products. Outsourcing to telemarketing firms can save time and money, and it can also be used as a tool for deal making.
Also known as cold calling, cold canvassing is a sales tool that is used to locate consumers who may be interested in purchasing goods and services sold by a particular company. In most cases, the cold canvas process does not involve any kind of advance preparation regarding the qualification of the contact. This means that whether the telegram takes the form of a cold visit to the company or an introductory phone call, the degree of interest of the contact is not known until the interchange is complete.
One of the distinguishing features of cold hunting is that the contact does not expect any kind of visit or phone call from the seller. The main purpose of this first contact is to introduce the contact to the company and its products and extend the opportunity to learn more about what the company has to offer. Assuming the contact responds positively to the meeting, arrangements are then made to meet at a mutually convenient time and discuss the products in more detail.
Many companies focus on finding cold in the form of phone calls. The company can set up a telemarketing department, which is responsible for cold calling prospective customers and determining whether they actually need the products offered by the company and want to find out more. In this case, the telemarketer passes the information on to a sales team member, who then makes the follow-up contact and pursues the sale.
It’s not unusual for a business to outsource the cold-blooded research effort to an independent telemarketing firm. This can save the company a lot of time and money. The need to employ full-time telemarketing professionals is eliminated, saving corporate money on salaries, wages and employee benefits. At the same time, salespeople can focus on qualified leads in their search for business, instead of spending part of their day making cold calls. This can shorten the sales cycle and result in more new sales to new customers.
The cold canvassing process can also be used as a deal making tool. For example, if a land developer wishes to acquire property in an area of the city that is slated for redevelopment into an industrial site, he or she can visit each of the current property owners in the area and assess their readiness to sell their real estate. Assuming the developer can convince the current owners to sell now, then hold the property until other businesses express interest in building structures on the land, the potential to earn profits is significant.
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