C-Level Selling and Advanced Selling Skills
8 - What-to-Do’s About Cold Calling
Cold calling
is dead, but still kicking. It's not to say that cold calling
doesn't work, but everyone will agree, it's highly inefficient
and very demotivating.
Therefore, cold calling should go away, but it won’t.
I stopped at
my Starbucks today and saw a vitamin or similar sales rep
recruiting a new employee. I overheard some words such as
"pitch", "benefits", etc. and thought about this new recruit.
Obviously, the recruit needs a job, and more importantly, she
needs money. So what if she takes on this new line? What will
she do to meet her financial obligations? What will her manager
do to help her succeed? How will the new recruit generate
interest/leads that convert to sales? Well, I guarantee, cold
calling will be her main thrust, at least initially.
Getting new
customers is a common problem, not only among new recruits, but
also among seasoned salespeople with established territories. We
all need new customers, so what can we do? Cold calling, in one
form or another, is our default tactic. It's what we do when we
don't want to try, change, or venture into other tactics.
So since
cold calling will not go away, let me help you with some tips,
not to encourage you to cold call – because there are better
ways -- but to make you more productive and less demotivated, if
you and/or your bosses insist on cold calling.
1.
Who Needs
What You Have?
Don't say
everyone. This attitude makes cold calling overwhelming, and
you'll get lots of rejections. You must establish a list of
criteria, and here's where your boss and other successful
salespeople can help you.
Ask them,
"What are the characteristics of our/your 3 best customers?" Get
them to think deeply about the specifics -- the people, the
environment, the circumstances of each customer. List these
characteristics and notice similarities among these customers.
Then, asked
them, "What are the characteristics of 3 prospects that never
buy?" Again, try to get them to be specific and add these to
your list.
These
characteristics will give you an idea of the type of prospects
that really need what you have and those that don't. Caution:
Don't get sucked into, "should need what you have to offer”.
Although many “should need” it, you will be successful when you
find those that want it.
2.
Approach
with Sincerity.
People don't
want to be bothered, and you know that. They are doing you a
favor by talking with you. However, you may be able to return
the favor by helping them if they have a problem, concern,
dissatisfaction, or unmet opportunity.
So apologize
for your intrusion -- "Sorry to bother you." Then say something
like one of the following;
"Do you have
any issues or concerns about XYZ?" Where XYZ is the general
field you serve. In my case XYZ would be sales or revenue
generation or salespeoples' productivity.
"Are you
satisfied with your XYZ?" If they say “Yes”, asked them what
they like about. If they say, “No”, asked them,"What are some
things you don't like about it or are dissatisfied with?"
"Are you
missing any opportunities because of XYZ?"
"Are you
experiencing any inconveniences because of XYZ?"
Expect an
"Everything is fine" because that's the easiest way to get rid
of you. However, what you've done with this approach, and these
questions, is to be polite and focused on the prospect. This
helps to establish a modicum of credibility. Needs and wants,
coupled with the salesperson’s credibility, are what makes sales
happen.
You probably
should start with an intro -- your name and the company you
represent -- but quickly follow it with a customer focused
statement. This, again, is to minimize the all about you effect.
For example, "Hi, my name is Sam Manfer, with Sales Mastery.
Sorry to bother you, but you or your company could be
experiencing some challenges that we've help others like you
eliminate. Can I ask you a couple questions?" Putting the second
person, you/your, in the front of the sentence, and the first
person, I/we, at the end of the sentence makes it more about
them, rather than you. This is a subtlety that has a profound,
unconscious impact on the listener.
3.
Be Prepared
to Expose and Entice -- No Pushing.
When the
prospect gives you the expected " Everything is fine ", you must
try to get the conversation going without putting them on the
defensive. Therefore, have two or three issues ready to offer,
one at a time that you think they should have. For example, in
my business, creating more sales, shortening the sales cycle and
cross-selling are three common issues among the prospects I
pursue. So when I get the -- "Everything is fine." -- I might
say, "Well what about sales cycles. Is this an issue?" If s/he
says, "No", I then might say, "And cross-selling, is
cross-selling meeting your expectations?"
I will do
this for a maximum of three No's, and then I give up, politely
leave and recycle this prospect for a future retry in three or
four months. If however, one of these exposes and/or entices
gets a "Yes", then I'll go into my selling mode.
The idea
here is to see if this prospect has a need or want, that she
realizes she has. If she doesn't, you're beating your head
against a wall and setting yourself up for rejection. You'll
think you're just not good at selling. Whereas, the prospect
just isn't interested. Basically, the reward for her to change
is less than the effort plus the risk to change. Think about
that for a second. The key to selling is finding people that
have an issue or want, and would like to do something about it.
Give up on the idea that "I have to convince him or her." You
need to find those that want help.
4.
Cost
Reduction Is a Low Excitement Benefit.
Revenue
generation is a more exciting benefit. People want more money,
more business and more customers to grow or just survive. If you
can show them how your services can get them more sales or more
customers, it is about four times more effective than cost
reduction.
Many
salespeople assume that the mere mention of cost reduction will
get a prospect's attention. Prospects hear about cost reduction
all the time, and unless they specifically tell you they have a
cost problem, avoid it or use it as a low priority expose and
entice.
Now, how can
you spin revenue generation of some sort into your expose and
entice?
5.
Handling the
Gatekeepers.
My website
offers a free e-book on handling gatekeepers and avoiding
blockers. So I won't go into it here.
However,
voicemail is another form of gatekeeper.
To get a return call, you must leave a message that hits
an issue the person wants to do something about. Typically, you
won't know this, and that's why your calls don't get returned.
So when talking with admins and receptionists, ask what issues
their head people are worried about today. The other reason your
calls don't get returned is because you have little credibility
at this moment.
6.
Plans and
Practice.
Before cold
calling, you must practice what you're going to say to (1) be
polite, (2) be sincere, (3) expose and entice to stimulate
interest, and (4) handle gatekeepers. Practice out loud either
with an associate or in front of the mirror so that you become
expert in getting the words directly out of your mouth and
listening to how they sound.
7.
Avoid Drop–In’s
While in the Area
Be careful
cold calling in buildings or offices adjacent to a customer
where you've just made a sales call unless you plan for these
cold calls. Many, especially your bosses, will tell you to just
drop in while you're already in the area.
Cold calling
should be planned. In other words, if you know there are other
prospects in a building or area that you'd like to cold call,
just get the names and then plan your schedule to visit them
when appropriate. It would be great to do a little research via
the Internet. You can also make a phone call and probe the admin
for issues and good times to drop-in. Some may call this a warm
call, but not by me. Besides, drop-in cold calls can ruin your
day. Your approach will usually be cavalier and self-defeating.
They will also take away time and motivation from your
scheduled appointments with bread-and-butter customers. Cold
call prospecting for new clients is important but should be
planned.
8.
Once They
Show Interests, You Must Switch to Selling Mode
If your cold
call catches a live one -- someone that admits to a problem,
concern, and/or opportunity, be sure to reframe from immediately
going into your pitch. You have to dig deeper with this
individual to find out more about the problem, etc. and
determine what s/he wants to do about it. "Tell me more." Should
be the next words out of your mouth, and this will move you into
the selling mode. I strongly suggest you read some of my
interviewing articles on my website.
Although I
don't encourage cold calling, I know you will have to do it. So
use these tips to help you move forward generating qualified
leads. For more ideas on generating leads, see the prospecting
and territory management articles on my website.
And now I invite you to learn more.
Bonus Tip: Free Book -- “TAKE ME TO YOUR LEADER$”–
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Sam Manfer delivers
key note speeches
and in-depth
selling work shops
for those
anxious to increase sales. His hands-on coaching turns
individuals and sales organizations into selling whirlwinds.
Sam’s selling awards and $ Million sales recognitions support his
methods. His book,
TAKE ME
TO YOUR LEADER$ along with his
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Chemistry’s
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