I dunno, have you had much luck w/ cold calling vs email? I think e-mail is a lot more effective as it's faster and can be automated where cold calling simply can't be automated and no one likes getting called on the phone when they're doing something else. Everyone works off of e-mail these days.

And I've done both, I've had way better results with cold e-mails, 1 meeting out of 50 emails is probably about right for the first time, if he e-mails everyone two more times that number will go up a bit. Particularly if he's not selling anything. If I'm running a business, why would I want to meet with a guy who just wants to talk about my business? I'd rather meet with someone that at least claims to know my business and is working on a vague new product and wants to get my feedback on it.