Human-to-human cold calling ranks as the most effective way to reach new prospects, behind only client referrals, yet new research shows sellers are still afraid to pick up the phone.
The findings come from a joint study by ValueSelling Associates and Selling Power, which surveyed 153 sales leaders and representatives across a range of industries to understand how AI and shifting B2B buying behaviour are reshaping prospecting. The research revisited questions from a similar study in 2018, offering a rare before-and-after look at how sales tactics have held up against years of technology adoption.
"Cold calling isn't dead," said Julie Thomas, President and CEO of ValueSelling Associates. "In the age of AI, a human voice on the phone remains one of the most effective ways to reach new prospects. In fact, our research found that salespeople rate every human-led tactic above every automated one."
What actually works right now
The study ranked the most effective methods for reaching new prospects. Client referrals topped the list at 74 per cent, followed by cold calls from sales reps at 47 per cent, LinkedIn and social selling at 40 per cent, conferences and trade shows at 30 per cent, partner or ecosystem introductions at 26 per cent, and email outreach campaigns at 24 per cent. AI-assisted personalised email outreach trailed well behind at just 8 per cent, making cold calling six times more effective by comparison.
Fear is the real blocker
Despite cold calling's proven effectiveness, sales leaders say their teams are struggling to execute it well. Forty six per cent said their reps give up too easily when cold calling, 40 per cent pointed to difficulty handling objections, and 39 per cent named fear of picking up the phone as a barrier. Only 19 per cent of sales leaders rated their reps as excellent or very good at cold calling, while half rated them as fair or poor.
"Cold calling is under threat, although it remains one of the most effective ways to reach buyers," Thomas said. "Our research suggests the issue isn't the method, it's the skill. The solution is to instill seller confidence through sales training, rebuilding the capability to make cold calls and do it well."
Little has changed since 2018
The comparison with 2018 data shows how little the fundamentals have shifted despite nearly a decade of sales technology investment. In 2018, client referrals were the top tactic at 77 per cent, followed by cold calls at 46 per cent. In 2026, those figures sit at 74 per cent and 47 per cent respectively, virtually unchanged. The same psychological barriers persist too: 53 per cent of sales leaders in 2018 said reps gave up too easily on cold calls, compared with 46 per cent in 2026, while fear of the phone dropped only slightly, from 48 per cent to 39 per cent.
Where AI does help
The research suggests AI is being used, just not where it delivers the most value. Fifty five per cent of sellers use AI to draft prospecting emails and to research prospects, 46 per cent use it to personalise outreach, and 43 per cent use it to build call-prep notes. But the study found AI is rarely used to prepare sellers for the conversation itself, an application that could address the confidence gap driving reps away from the phone in the first place.