Our team studied the average cold call conversion rate, which is an average of 2% across the entirety of cold calls in our study, but we investigated this figure with much more granularity. We segmented the average cold call conversion rate by:
- Industry: Industries where cold calling is common inevitably reduce the effectiveness of even the best cold calling campaign.
- Price of Product: The average cost of the product will determine the closing rate, as more expensive products will typically close at a lower percentage.
- Brand Presence: If your brand is immediately recognizable to the prospect, either through industry-specific or national presence, the cold call has a greater chance of closing.
- Training Quality: If your team receives high-quality cold call training, this will improve conversion rates.
- Training Frequency: Along the same lines, daily sales training and role-playing improve cold-calling results.
Each campaign is broken down by domestic and abroad cold callers, as our research shows that domestic cold callers will see vastly greater results than cold callers from overseas. Additionally, for the purpose of this report, conversion rate is defined as the percentage of outbound calls where the decision maker is reached that result in a sale.
Definition of Cold Call: Cold calls for the purpose of this report include any calls to a cold list that have not requested information or had any prior formal contact with your company.
The Cold Call Conversion Funnel
The following graphic maps the cold call conversion funnel. This can change based on the specific company and how their sales process works.
The Average Cold Call Conversion Rate by Industry
This table breaks down the most common industries cold calls are used for and the expected conversion rate.
Industry Conversion Rate Calls Needed for a Sale
Janitorial and Cleaning Services 2.43% 41
Printing and Publishing Services 2.36% 42
Office Supplies and Equipment 2.29% 44
Business Services (HR, Payroll, Marketing) 2.22% 45
Food and Beverage Distribution 2.15% 47
Consulting Services 2.07% 48
Event Planning and Management Services 2.01% 50
Training and Development Services 1.93% 52
Real Estate Services 1.87% 54
Insurance 1.80% 56
Facility Management Services 1.73% 58
Agricultural Equipment and Supplies 1.65% 60
Security Systems and Services 1.59% 63
Logistics and Transportation 1.51% 66
Wholesale Distribution 1.45% 69
Energy Solutions 1.37% 73
Financial Services 1.31% 76
Manufacturing Components 1.24% 81
Chemical Products 1.17% 86
Telecommunications 1.10% 91
Pharmaceuticals 1.03% 97
Medical Devices and Equipment 0.95% 105
Construction Materials 0.89% 113
Technology Solutions and Software 0.81% 123
Industrial Equipment and Machinery 0.75% 134
The Average Cold Call Conversion Rate by Price of Product
As expected, more expensive products will close at a lower rate. This is dependent on industry, as for some industries, $50,000 could be a low-cost product, but for others, that could be a premium product.
Price Range Conversion Rate Calls Needed for a Sale
$500 - $10,000 2.25% 44
$10,000 - $50,000 1.99% 50
$50,000 - $100,000 1.73% 58
$100,000 - $500,000 1.48% 68
$500,000 - $1,000,000 1.24% 81
$1,000,000 - $5,000,000 0.99% 101
$5,000,000 - $10,000,000 0.75% 134
The Average Cold Call Conversion Rate by Brand Presence
Companies with stronger brand presence will keep people on the phone for longer. When the salesperson introduces themself, the company they say they are from determines, in many ways, if the prospect will continue to listen.
As an example, saying “Hey *prospect*, this is Chase with Apple” will carry more weight than saying “Hey *prospect*, this is Chase with Random Computer Company”.
Brand Recognition Example Company Conversion Rate Calls Needed for a Sale
Strong Salesforce 2.15% 47
Moderate Hubspot 1.77% 57
Emerging Gong.io 1.44% 69
Niche Brands ZoomInfo 1.10% 91
Low Outreach.io 0.72% 139
The Average Cold Call Conversion Rate Increase by Training Quality
As companies provide better, more effective sales training to their employees, their cold call conversion rate will increase. We measured the average increase in results from training.
Training Quality Conversion Rate Impact
No formal training -1.25%
Basic Training (1-2 sessions) 0.12%
Intermediate Training (3-5 sessions) 0.30%
Advanced Training (Ongoing, role-plays, feedback) 1.60%
Elite Training (Customized, continuous improvement) 2.29%
The Average Cold Call Conversion Rate Increase by Training Frequency
Consistency is the most important factor of sales training, and we recommend daily sales training.
Training Frequency Conversion Rate Impact
No Regular Training -0.46%
Monthly 0.02%
Bi-Weekly 0.18%
Weekly 1.19%
Daily 6.68%
Further Reading & Next Steps
We recommend that companies implement a strict training program for employees missing the benchmark. See the following resources for further reading:
- Average Cold Email Conversion Rate by Industry – 2024 Report
- Customer Acquisition Cost Trends: 2024 Report
- B2B Cold Email Open Rates by Industry, Subject Line
We would be remiss if we did not mention that the best method of acquiring customers at the lowest CAC possible is developing a consistent source of inbound leads. We help companies build such systems to generate highly qualified leads consistently and with predictability. If you are interested, please reach out here.
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