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You need to define cold calling. If you mean purely speculative calls on the off chance that somebody may wish to buy double glazing then yes it is dead, but it has been for a while.
Campaigns now are less speculative and more targeted and tend to be part of an overall campaign.
Is a call from my existing broadband provider to sell me to a voice and data package a cold call?
Social networking isn't replacing anything as such, it is simply a new and innovative way of winning business which should be part of an overall strategy.
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