Cold Calling vs. Direct Mailing Differences or Fear

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I understand that there is a "Do not call list," however;I was wondering if anyone has done a successful and thorough cold calling campaign. I listened to Grant Cardone's Millions on the Phone last night and it got me thinking.. Why do so many people put so much energy and time with small conversion rates with direct mail with little follow up? Please notice the 'little follow up.' Just some thoughts on why more people do not pick up the phone and get a piece of property.. Fears maybe?