When I was managing a small Credit Union branch in a tiny farming based community, cold calling was a tactic that led to significant business. I doubled the book of business in a relatively short period of time.
I would call farm operators and state that I was new to the community, and I was trying to "go around and see operations to learn farming as I am a city bumpkin". Most producers let me come out, and I made an effort not to speak about business and just ask them items about their business.
About a year later these same people I cold called started calling me and telling me the problems they were having with their FI and they wanted to get together to see what we could do.
While I appreciate that their FI of choice led them to look elsewhere, I'd like to think the fact that I went out to meet these farmers led to them giving me a shot at their business.
Now, that's not to say cold calling is going to work for every industry or situation, but it does have its place in some situations.
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