I recently saw a webinar from Linkedin which tried to explain how great it is to use social media to increase sales. They had research that showed that cold calling failed 90% of the time. And they had a nice graphic to show the 90% fail rate.
But 90% fail rate is a 10% success rate. Which is really great. Especially when you compare to the Internet which may have a 1% conversion rate.
It is true that cold calling takes a lot of manpower. But for expensive items – cold calling looks like a good option.