I find it irritating getting leaflets through my door, but it doesn't stop me dishing out 5-6k a month. And if it was a good deal on something I wanted that particular day I might be tempted.
I think it's important to try all methods/media that's cost effective.
In theory local calls are free aren't they?
Cold calling is very, very demanding emotionally unless you have support, knowledge and the right personality. And don't forget TPS these days.
My ratios when I tested it for CC were five times worse than my previous career with services in the £10-50K range B-B. And that was with the best of a number of scripts.
The biggest jump in response came from opening with a local tradesman approach. Solid questions and rebuttals are important too.
As I don't believe in such a thing as failure, lets just say I learned to put my energies into other mediums.
Now warm calls, that's a very different story. Referrals, letter follow ups, comps, CC information reports etc.
Good Luck