Showing posts with label Cold Calling. Show all posts
Showing posts with label Cold Calling. Show all posts

Call, calling and calling again

"You just can't beat the person who never gives up."                                                                                                                                                                                                                                   ~Babe Ruth



Many sales professionals probably wonder if they're being annoying or why they're not getting a call returned. They go so far as dreaming up tricks and innovative attention getting antics that fall flat.  So how much is too much?

I don't think there is a clear cut answer, yet I know statistically, 85% of all sales reps give up after the first call ... yet most opportunity happens after the 5th call!

I've often had to internalize my approach and ask myself what I am doing and if I were sitting on the other side of your voicemail, email or written letter, what would prompt me to respond.  I know that if it isn't working, I need change it up and try some new approaches:
  1. Understand the value you and your organization will bring -- how you can you solve problems, eliminate headaches, increase revenue, improve profits?
  2. Provide proof:  A tempting nugget on how you do what you claim?  Who else have you done it for?
  3. Be explicit about why you are calling or why they should call you back 
  4. The higher you call, the more compelling their reason to call you back should be
  5. Script Option: I appreciate how busy you are ... I will call back at such a such time (the earlier the morning the better) 
  6. Script Option: If I am calling you and you are not the appropriate person I should be speaking to, I would appreciate if (i.e. your assistant) or you get back to me with the appropriate person's name (I've done this, and then it looks like you've been referred top-down)
  7. ALWAYS have a reason for your call and a reason WHY they should talk to you
  8. Research: The best time to call a prospect is between 8:30-10:30 a.m. yet most people believe it is just after lunch (which is the worst time)
  9. Research: The best day of the week to call someone is a Thursday
  10. If I were to leave you a message saying I'm calling about life insurance (no, I don't sell that .... but who doesn't get a lot of those calls?) ... you'd automaticly delete me ............. but if I were to call you to say I have important ideas on succession planning that have proven successful with other executives like you (specific name dropping is always better) ... would you take that call instead?
If you examine your "pitch" you have to be honest with yourself.  Are you saying the exact same thing as anyone else creating noise in your prospect's mind:  I'm better, provide quality, solve the ultimate problems, save money, have deals, better act now, etc. etc. etc.
You have to develop strong relationships with key decision makers.  If you do, they will want to help you succeed because you've helped them in some way. Go ahead and ask them how many calls they get and which ones they answer and why?

Many times you will discover that they get a ton of calls/e-mails a day so they all start to sound the same. Yet disciplined decision makers also realize that they can gain the best information from their trusted circle or go to people who will help them solve a problem. They hardly want to pass up an opportunity to learn ways to save money, save time, ease pressure, solve problems. If you can "hit" that note in your voicemail or message, you may be more likely to connect.

Here are some ideas to give you incentive to keep plugging: 
  1. Remember, they're busy. Yes, many are intentionally ignoring you. Many more are simply too busy to answer every call/e-mail they get.
  2. Remember the executive assistant.  They often are an extension and typically know what hot buttons their boss may react to.  They DO have the power to slam the door, open it up, inform you who may be better suited to address your offer, and schedule appointments.
  3. Keep in mind, that many decision makers become cynical after dealing with sales people who over promise and under deliver
  4. Try sending a introductory letter so that you can carefully lay out what it is you are offering, how you've helped others, and when you will call to set up an appointment to share your ideas in depth.  Who gets real mail these days that aren't glossy and scream junk mail anymore?
  5. Be persistent but classy:  they're counting on you to give up after the first or second call
Go beyond standard information gathering and persevere by asking more meaty questions:
  1. Can this person I converse with sign a cheque or contract?
  2. If not, then who is the decision maker for your services?
  3. Who can influence the decision maker on your behalf?
  4. Who are the end users?
  5. Are their any holes that you can fill that can give you a toe in the door?
  6. What outside factors influence that decision -- a current contract, established partner, relative who is a vendor or service provider?
  7. What is greasing the wheels of commerce -- sports or concert tickets? Wining and dining?  Promotional products?
  8. Do they have a purchasing policy or process that you must follow?
  9. Are their specific channels that you should go through?
Most professionals who enter the field of sales tend to be more uncomfortable calling on an executive than they are an administrative person.  Many try to snow their managers and executives that have a conversation with just about anyone is a contact.  The truly successful sales professionals know most of this information and more:
  1. Who their customers are -- what challenges are they facing to serve their own customers?
  2. What is impacting their industry -- government regulations, ongoing changes, outside influences?
  3. The history of their purchasing decisions:  who, why and what criteria did they use to establish a relationship with a vendor?
  4. What knowledge do they need at the table:  being technical is not always the key, asking great questions often leads to better opportunities.
If you are faced with driving revenue into your organization, it means that you are in the sales game.  Take pride in understanding what drives customers to your doorstep and what you can do to ensure they stay.  Everyone has a part and a place -- it starts with recognizing that it takes a lot less time and resources to keep a customer happy than it does to find a new one.
"Don't be afraid to give up the good to go for the great."                                                                          ~ John D. Rockefeller

The tortoise vs the hare

Selling to big corporations compared to selling to small-to-medium businesses is like differentiating between a marathon runner and a jogger!  Then, to make matters more confusing in come the dreaded acronyms that we take liberty with:  B2B (business to business) B2C (business to corporations) or B2C (business to consumers).

JOGGER (B2B) HARE

Sales to business are more transactional:  quantity over quality - the more activity, prospects in your sales funnel, the more likely you will close some of them (secure a sale).  Rookies to sales will start out in B2B and as they improve, they may (not always) be promoted and evolve into B2C sales.  You should be comfortable cold calling, knocking on doors and rebounding after being declined.  You are a quick closer.



MARATHON (B2C) TORTOISE

Selling to big corporations (sometimes referred to as enterprise sales) requires skill -- knowledge about the company, its people, culture, processes, needs, -- which requires a lot of research, endurance, and more training.   This is usually a step up from B2B sales and recognition for having put in the time to understand what your value proposition is (what sets you apart).  You create solutions, you identify needs before anyone else may.  The organization tasking you to sell B2C must equip you with all the necessary tools, resources, support but most of all TIME to be successful in this arena.  The bigger the fish, the longer it takes to reign it in.  You are a problem solver.


I took liberties with this blog by changing it up.  Essentially, B2B is selling to businesses which includes corporations.  B2C is often referred to as selling business to consumers.  I modified it simply because Business to Consumers rely less on sales professionals and more on advertising, marketing, direct mail, telemarketing, etc.  The skill and finesse required to sell to corpora-tions/enterprise is more complicated and should not be part of a start up strategy.  Chances are, as a start up, you won't have the compensation, resources, support or time to attract the skilled sales executive.  You can take just anybody and shove them out the door and tell them to knock on doors when you want simply a hunter for new business.

Take the time to evaluate what kind of sales professional you are or what kind of sales professional you want.  Turnover in sales will hurt you in the long run.  It sends a message to your potential customers that you value the sale over the value of those representing you. 

Read my biggest click blog:  Hunter, farmer .... Most companies will hire the hare instead of the tortoise.  The results are at the finish line.

One can't help but notice how often structure can defeat itself when most organizations decide they want the energy of the hare and don't have the patience for the tortoise.    We all know how that story ends.  Similarly, the results in sales at the end of the race can be the same.


I suggest that you need both.  I highly recommend you don't eliminate either. Understanding both styles and the benefits to your organization will allow everyone to flourish.  Primarily, expectations will be accurate, deployment of resources managed accordingly and timelines will be adjusted. 

Is Cold Calling Dead? Instead ask: "What if there were no longer sales pros?"

"It's not whether you get knocked down; it's whether you get up." 
Vince Lombardi


I have to give credit where credit is due.  A Google+ posted by my pal Gary Hart (Salesdujour) whom I respect and follow inspired me to write this Blog!    The same question keeps cropping up in several different ways, in several different manners, regardless of what forum I dip into:  Linked In, Quora, Blogs,  Facebook, Twitter and now Google+  "Is Cold Calling Dead?"  .... there is even professionals out there that tell you it is dead in no uncertain terms.


Cold calling is part of sales, like "prospecting" "closing" "objection" functions are. In my perfect world  everyone will join together to get on the same page, agreeing on a definition.  Instead, when you ask  what people feel towards cold calling you end up with a debate on whether it works, alive, etc.  If you "Google" cold calling, you may end up at Wikipedia http://en.wikipedia.org/wiki/Cold_calling that explains it to be:  "Cold calling is the marketing process of approaching prospective customers or clients, typically via telephone, who were not expecting such an interaction. The word "cold" is used because the person receiving the call is not expecting a call or has not specifically asked to be contacted by a sales person."   


Oh, oh.  The last business development role I was involved in, they would have hired "Telemarketersto do "cold" telephone calls, which some are asked to schedule appointments for sales people.  What they wanted was a warm body in front of customers that they weren't reaching by advertising, marketing, etc.  Most bosses I know who have sales departments consider hiring telemarketers an overhead cost.  More often, that falls under "sales" on the balance sheet.  Even more, would say they don't need telemarketers if they have sales professionals to do their own telemarketing.




My first take when I see the question asked is that not cold calling means you be handed engaged buyer-ready customers.  Perfect, all you have to do is "close" them. I want a million dollars and a second home in the tropics too. Doesn't mean I'm going to get either.  In fact, if the world agreed that cold calling is dead, then sales pros may just be killing their own careers!


Seriously, if companies want order takers primed on the ready for warmed leads banging down their door, a sales career would become obsolete.  If marketing could bring in new customers all nice and neatly tied up in a bow that just needed to be written up, would they need sales professionals?  I think not, they would be called "Customer Service Representatives".     In fact, if that were the case, I'm sure most executives would pour more money into marketing and be talking to accounting more about what to do with all that money.


Sales professionals are one of the toughest groups to manage.    Each brings in a set of tools, success strategies, and war stories that would make even the most notorious war generals blink!  Asked why sales aren't improving, you better sit down because that may take a while.  


One of my first Blogs ever, written last August 2010  "When the Going Gets Tough The Tough Go Hunting" http://optioneerjm.blogspot.com/2010/08/when-going-gets-tough-tough-go-hunting.html What I said then and say still is when the economy softens and revenue streams dry up, people turn to their sales professionals or even some stretch resources to hire sales professional(s) to offset declines.  


Now, if we start talking techniques that take the "Cold out of Call" http://optioneerjm.blogspot.com/2010/11/take-cold-out-of-call.html and devise solutions on making it seem less intrusive to people that are too busy to stop for a call from a customer, never mind a sales pro that somehow got through, then we're getting somewhere.  


The great part of these debates, they fuel my passion to write more!  That is why so many sales Blogs like mine are alive and doing well.    Well folks, you won't find any excuses NOT to cold call on this one.


"Success seems to be largely a matter of hanging on after others have let go."
William Feather


When the going gets tough, the tough go HUNTING!

Can you imagine if we all went to sleep tonight and woke up tomorrow morning in the caveman era? If we don’t starve first, we’d be bruised from fighting each other to get the only small morsel of food left! Ugg.

In today’s world, the terrain is wider from globalization, yo-yo financial uncertainty, or confusing tools.  Guess what? Nothing has changed. Everyone is STILL fighting for that small morsel. Today’s hunters come in all forms, genders and technical know how.

That small morsel of food is smaller and more evasive and it is called “customers”. With many economies soft, organizations limping along, the spotlight on sales and marketing is brighter than ever before. Organizations should be looking for hunters, not farmers, and least of all order takers. Sales professionals have evolved into order takers because they leave the office to existing customers’ offices -- that is not hunting. Organizations can hire additional customer care personnel at a fraction of the cost to take care of existing customers (wasn’t it Sam Walton who said it best: “Take care of your customer or else your competitor will”?)

With eyes shifting between sales and new customers, forward thinking organizations are investing more in technology or tools to maximize results. Those clever, slick sales rep can be so personable, chat about sports stats or baffle everyone with sales-speak. Now, survival instinct kicks in to realize who they really need are hunters to keep that food, keep up the cave … rocks in the pocket are less important.

Organizations are reading books, talking to sales trainers, bringing in guest speakers -- all  from people who were once sales pros but make a better living telling a BIGGER story!   The organizations start believing they might have grasped some of it, start asking their own sales folk what they’re doing. Out comes the baffling speak that sounds somewhat logical. For added drama, sports score stats are now replaced with sad stories about the economy or what support they're not getting or they would do better if they just had this or that. It all makes sense, sorta.

Just ask people about cold calling and you will get a variety of definitions. If it’s your sales reps, they will tell you that cold calling went out before Glengarry Glen Ross went to DVDs.  There are now bloggers and sales sites saying you don't have to cold call anymore for backup.  That is just wrong!

As the economy has become uncertain, ongoing changes guaranteed, you HAVE to keep the " bucket full" to protect against the unfortunate event that existing customers slow down or halt completely.

What organizations need today, as always, are hunters. True hunters are cold calling, making appointments with nonbuyers, qualifying prospects to test opportunity potential, predicting reasonable success ratios, creating unique presentations and proposals that address unique needs, then following up effectively to close. Time spent should be minimum 6 hours a day out of the office in front of prospects. Time for 2/3 of their efforts on new business development with 1/3 on existing customers. Time to reverse the lazier habits, one being calling on the same customers that are already doing business, easier to get in front of and some times can be upsold.

The challenge many organizations face is understanding what they should realistically be able to ask for combined with what should be expected in return. Taking a cue from the top sales organizations’ culture, it would be to set up "best practices" whereby every sales rep is given daily goals broken down by cold calls, in person calls, presentations, proposals and service calls. Based on the cost of what they’re selling does impact the sales cycle and can reduce some of the numbers. However, establishing “best practices” sales metrics on activity is the most assured way for an organization to establish realistic goals and evaluate their return on investment.

The best recommendation I can give to organizations, especially smaller ones who may not be comfortable understanding reasonable expectations from their sales team would be to consider a CRM system.  After working with Goldmine, ACT!, customized systems, the one I favor is Salesforce.com.  The benefits are as follows:
  • 24/7 accessibility, from home, office, anywhere
  • E-Learning sessions for users, managers, administrators
  • Integrates with all members of the team -- sales, customer service, technical and other support
  • Everyone connected to the same system -- speaking the same language, internal communications
  • Managers can assess dashboards, do forecasting, etc.
  • Allows benchmarking top performers activity
  • Keeps everyone honest
Top sales pros understand the value of CRM systems, or other means of documenting activity, planning/forecasting.  They do NOT consider it "big brother".   Organizations understand the value gained from the ability to accurately forecast, predict ROI, and proactively implement contingency plans.

Cold calling, like hunting, will stay around even if the cavemen haven’t.
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Is COLD CALLING really necessary?

Cold calling is always necessary in any times, any industry, any target company size. The how/what/where is the gem.

I consider "cold calling" active, personal research. You can uncover potential clients or opportunities that you would not otherwise find, unless you do.

Most people are afraid of sales because they strongly align it with "cold calling" .... yet it is active/personal research on ways of gaining customer intelligence. You can collect Annual Reports, etc.

In a world where we (I include myself) can easily hide behind e-mail and social media ... seeing a live person is compelling. I don't think "gatekeepers" are interrupted as much as many would think by salespeople pitching their wares ... unless they're selling cookbooks or copiers.

If you approach cold calling with a fun attitude that it's an adventure - you're on a scavenger hunt, looking for hidden treasure. The pirates are the "gatekeepers" guarding the treasure.

How many TIMES do you CALL?

Many of us sales types start to wonder if we're being annoying and that's why we're not getting calls back from our calls. So how many times is too much?

I don't think there is a clear cut answer, yet I know statistically, 85% of all sales reps give up after the 1st call ... yet most opportunity happens after the 5th call!

If it isn't working, try some new approaches:


1) Change it up
2) Be explicit about why you are calling or why they should call you back
3) The higher you call, the more compelling their reason to call you back should be
4) Script Option: I appreciate how busy you are ... I will call back at such a such time (the earlier the morning the better)
5) Script Option: If I am calling you and you are not the appropriate person I should be speaking to, I would appreciate if (i.e. your assistant) or you get back to me with the appropriate person's name (I've done this, and then it looks like you've been referred top-down)
6) ALWAYS have a reason for your call and a reason WHY they should talk to you
7) Research: The best time to call a prospect is between 8:30-10:30 a.m. yet most people believe it is just after lunch (which is the worst time)
8) Research: The best day of the week to call someone is a Thursday
9) If I were to leave you a message saying I'm calling about life insurance (no, I don't sell that .... but who doesn't get a lot of those calls?) ... you'd automaticly delete me ............. but if I were to call you to say I have important ideas on succession planning that have proven successful with other executives like you (specific name dropping is always better) ... would you take that call instead?

Once you've developed strong relationships with key decision makers, they will want to help you be successful because in essence you've helped them in some way. Go ahead and ask them how many calls they get and which ones they answer and why?

Many times you will discover that they get a ton of calls/e-mails a day so they all start to sound the same. Yet disciplined decision makers also realize that they can gain the best information from their "circle" or go to to solve a problem. They hardly want to pass up an opportunity to learn ways to save money, save time, ease pressure, solve problems. If you can "hit" that note in your voicemail or message, you may be more likely to connect.

Here are some ideas to give you incentive to keep plugging:

i. Remember, they're busy. Yes, many are intentionally ignoring you. Many more are simply to busy to answer every call/e-mail they get.

ii. Keep in mind, that many decision makers become cynical after dealing with sales people who over promise and under deliver

iii. Try sending a introductory letter so that you can carefully lay out what it is you are offering, how you've helped others, and when you will call to set up an appointment to share your ideas in depth

iv. They're counting on you to give up after the first or second call