Cold Calling for the Cash Cow

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Hey Warriors,

Even with the advent of the Cash Cow thread disappearing, I thought it might be a good idea to talk a little about our experiences with cold calling for our Cash Cows.

I know a few members here have done this very successfully, and I'd like to hear some of their words of wisdom for those of us who have yet to start.

I'll be beginning with some calls tomorrow, so we'll see how well I do. I'm putting a short script together now, and if it goes over well, I'll post it here for everyone tomorrow.

So, if you've had any experience in cold calling (especially if for the cash cow thread) let's get a discussion going!

Do you have any tips for the rest of us?
#main internet marketing discussion forum #calling #cash #cold #cow
  • I've not been involved with Cash Cow - but I have been cold calling. So my tip is to develop a VERY thick skin! Just remember, it's not personal, and dial quickly. If you take time to dissect each conversation, you will never call enough leads and negative comments will get to you. Use the 5 second rule - that's 5 seconds to put the phone down, pick it back up and dial the next number - then you'll go through numbers so fast you'll be getting results and not even remember anything else!
  • Honestly for me that was the beauty of the original post. If you send them the letter, there is no cold calling.

    Everyone you speak to on the phone was enticed enough by your offer to pick up the phone and call YOU. Then there's no need for catchy opening lines or getting through the gatekeepers. If they call, they're already interested.
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    • Right - that's definitely not cold calling! Makes the whole conversation a LOT easier if you're starting from that place.
  • I sent out letters to a bunch of businesses here and didn't get any response. Which is why I think I'll be testing out cold calling. I've read some great posts about it being pretty successful here (for the cash cow) and think it might work for me as well.

    Either way, I'm gonna give it a shot.
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    • Don't be shy about cold-calling. You will probably get a warmer
      response if the person you speak to opens the mail - if your
      letter stood out in any way you may very well get "Oh, I was
      thinking about your offer... juts hadn't got around to it..."

      That is, actually, the way B2B solicitation works. It's very
      routine for business owners to get a lot of solicitations - and
      in general when I used to own a cabinet shop I would usually
      speak with the rep about my needs... and I did order more than
      once.

      If you don't plan to make at least 7 points of contact over a
      12 month (or shorter) period, it may not be worth it to bother.

      The winning formula is called "top of mind awareness" and to that
      end it is actually a swell idea to send the business something
      that is kind of hard to throw away. Of course I understand you
      don't have the budget to send DVD players loaded with your
      DVD about your services, but such efforts DO make an impression,
      even if the thing never gets hooked up it's gonna sit around
      and nag at the recipient's mind.

      There is a commitment factor to winning clients - and changing
      their habits. One lady wanted a quote to revamp her site, and
      after a conversation I just kind of blew her off - because on
      one hand she was lusting after making a lot more money with
      the online part of her business, but on the other she was fixated
      on "article marketing" and "trying some things" for traffic... while
      PPC scared the hell out of her.

      This is a case where I told her my perspective, that all the "free"
      marketing stuff she's been reading about ain't worth bull puckey
      for selling her product. But there she is thinking she can build
      a bigger business without spending to advertise - so it's a case
      where the "client" really needs to change her mind before I would
      consider working with her.

      Changing people's minds takes time. Many of you "suspects"
      will be gunshy about investing in the online part of their business
      today - but if you persistently encourage them to dream of
      how they can get rich using the internet, and show them how
      it may be do-able for them, then you'll get a trickle, then a flood
      of business.

      That's more or less the way it works.
  • Yeah go for it! I think in the end either method find success in volume, so just don't get discouraged and keep sending them out.

    I think it was also recommended to approach businesses in person, that this gets the highest conversion, but sometimes it also takes higher skill to keep it moving, depending on who you're talking to in the store.
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  • "This is Ron from the Daily News..."

    YouTube - Boiler Room - Telemarketing Scene
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  • Here is my advice - stop before you start. Seriously, how many times have you ever bought by someone who called you via the phone with no invitation to do so? My guess is the same amount as me - never.

    Also do you think people want to be bothered at work? It is just as easy to hang up as it is to throw your letter away and for most people after the 10th screw you or hang up call you'll find yourself retiring your cold call hat.

    If you must call someone make sure it is to follow up on something you have already sent them OR tell them about a package you are about to send them. That's the only time I pick up the phone to call out.
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    • Generally speaking:

      # You'll do a whole lot better if you see business owners in person than trying to call them on the phone.

      # If you have a REALLY good letter you send out it should get quite a few businesses calling you back. You will still need the skill of talking to business owners to get hired...even from these phone calls but at least the process is easier.

      # A phone call to follow up on something you've already sent a business owner can be VERY successful. Many business owners will get a letter or package from you and be interested but their busy people and they just won't get back to you. They're expecting YOU to follow up with them.

      So don't be afraid of using the phone to follow up with material you've sent a business owner. Dropping in in person is likely to get you far greater results here too.

      # The easiest way to start talking to business owners is to talk to the business owners you know or the business owners your friends know. Be aware of how you're spending your money. Ask yourself "Can I spend this money in a business where I might get a chance to talk to the owner?"

      # If you are going to do telephone cold calling learn how. I strongly recommend Ari Galper's courses. I actually did an audio recording with Ari on this very topic which is available to OfflineBiz.com members. But you can also just go visit his site and get some excellent advice free.

      Ari's system makes the process a whole lot easier.

      Kindest regards,
      Andrew Cavanagh
  • I agree with mpeters7, you want them calling you.

    Voice broadcasting is an excellent way to call people and find out if they're interested without having to deal with any rejection at all...

    You can leave 1000s of messages with one click of the mouse!

    Much more leverage results in many more SALES:-)

    And that is what you want...

    More sales, more time left to relax or work on another project....

    Check out I Buzz Pro they have a great system, join a good mentor if you
    do you'll get great results, it's so important that you join someone who is good.

    Attract customers to you and your life will be a 1000 times easier:-)

    Good Luck
  • I agree with mpeters7, you want them calling you.

    Voice broadcasting is an excellent way to call people and find out if they're interested without having to deal with any rejection at all...

    You can leave 1000s of messages with one click of the mouse!

    Much more leverage results in many more SALES:-)

    And that is what you want...

    More sales, more time left to relax or work on another project....

    Check out I Buzz Pro they have a great system, join a good mentor if you
    do you'll get great results, it's so important that you join someone who is good.

    Attract customers to you and your life will be a 1000 times easier:-)

    Good Luck
  • I understand the motivation to resort to cold calling. There's probably not enough traffic for "Your Town internet marketing" or "Your Town small business marketing" to fill your dance card. Or, there is, but you don't feel you can wait that long for a client. Whatever the case is...

    But, why make it a sales call?

    Every successful contact with a prospect needs to have a clear purpose, and that purpose needs to be communicated effectively. But does that purpose have to be a pitch? Be interesting. Be insightful. Call to introduce yourself. Share a business idea, or some bit of relevant news. Invite them to check out your news letter. Maybe even be so direct as to ask them for an email address you can send more information regarding your idea or bit of news?

    My point? Even if the call is your first contact with them, make it pleasant and rewarding. View your goal as filling the funnel, or proactively guiding them into your "maze." You should be practicing what you preach.
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    • Cold calling is one of the best ways to sharpen your sales skills. Most people that speak out against telemarketing are intimidated by failure...

      Many people claim that telemarketing is a "numbers game." Truth is... the better you get at selling--it becomes less of a numbers game.

      Once you master countering objections--telemarketing can be fun!

      Marc
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  • Having worked in Radio advertising sales for YEARS, and training more than my share of rookies, I can tell you this.

    Most people in sales do it wrong, my teams would consistently out perform the other teams, and the other teams would see my folks spending tons less time on the phone in the first few day and wonder what we were up to.

    That's part of the secret:

    .

    Backwards to what you may have thought, but a rookie has about 20 good calls in them a day for the first few weeks, any more than that they'll burn out.

    For the people who had never made any sales calls by phone their first few days their calls were never made to prospect, NEVER !

    You have to get comfortable with the Process first.

    The fact we were with the radio station I had my teams call households and they would ask who ever answered the phone if they had ever heard of our station (by the call letters not the slogan) if the said no, then they would ask if they had heard this slogan (then they would say our slogan)

    No matter what the answer was the next question was do you listen to radio in your car.
    (they would write down the answer, with the phone number they called next to it.)

    They would thank the person for taking time to answer the questions and get off the phone.



    Yes that is the key point.

    Until you can talk with people on the phone expecting nothing in return you will never be able to set appointments much less make sales on the phone.

    Depending on how comfortable the person was with spinning the dial, they could be calling homes for two weeks before they ever attempted one call to a prospect.

    By the time they were allowed to call prospects (which in they had to earn the privilege to call prospects) they were looking forward to making the calls, unlike the people on the other teams who were taking all the courage they could create and dial the phone and hope something good happened.

    You can make a ton of money by using the phone, its a matter of starting off right, and getting comfortable with following a short outline no matter how simple is may seem.

    Long term, these folks not only stayed working the phones longer, but they developed the ability to make the person on the other end comfortable because they weren't trying to force them through some set of hoops to make a sale.

    Mark
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  • That's why you should only call poor mums of three who aren't run off their feet--they usually don't mind the cheesy sales pitch.

    That's awesome...

    Well... where I come from--even gutter rats make cold calls...

    Well, let's see... I get them all the time. I just simply hang up.

    Hell, in this day an age--hanging up is really easy. All you have to do is press a button.

    This is a bad comparison... everyone knows that drugs pretty much sell themself. It's a good thing too--it frees up more time for drug dealers to make cold calls.
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    Wrong, you fail.
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    • Banned
      I used to work as a telemarketer in college. Well it was for a couple of days. I think I was the only person who didn't smoke in there and could barely breathe.

      I had no idea what I was doing but I from what every told me I did very good right away. Normally the company loses money on new hires.

      I also did a lot of cold calling in my real estate business. You would be shocked at how many people were ready to deed me their houses after house from one phone call.

      Cold calling can be very effective. You would be surprised at how many people will say yes. I nearly dropped my jaw when I heard that first yes. lol

      The people that say it doesn't work have tried it or really sucked at it.

      Make sure you stick with it for some time to get good at it. It won't do you any good to try it a few times and then give up.
  • Its not Illegal! Far from it! If it was illegal then why do all the major marketing companies employ an army of cold callers as there main sales force! If it was illegal do you think they would get away with it?

    Its also not SPAM ON THE PHONE! There are many different types of cold calling from 3 tier calls to pressure calls. Pressure calls are the ones everyone hates and in this industry you get better results "Not Pressurizing"!

    There is an art to cold calling and once you try it and keep doing it, you get better and better at it. I enjoy it as its a challenge and you cant get a better feeling than selling to someone over the phone especially for the amount of money were talking about. It shows you can do it, gives you unbelievable confidence while moving your business forward. It also allows you to take your business nationwide and doesn't restrict you to a local area! MORE HUNGRY BIZ OWNERS!

    Imagine getting the cold calling down to a tee and employing an army of cold callers all learning from you! Image the profit!!!!

    Its awesome in this business, I know first hand as I have done it now for over 2 and half years and the amount of money involved in that time has been unbelievable. I would never drop that side of my business as it is the quickest and most profitable way to generate sales and new clients! FACT!

    Just do it! You have nothing to lose!

    GoGetta
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    • hey, you know - you don't have to be a sales dick to do cold
      calls. You can just call to survey your local business owners
      and find out stuff that would be relevant to creating an
      offer appropriate to their needs...

      1. call to gather information.
      2. figure out what the major problems are
      3. write a letter explaining the problems, their consequences,
      and present a solution.

      I'm making it seem really simple. It is. Find out what they
      want and give it to them. The real secret is you need to feed
      your presentation of the solution BACK TO THEM in the
      same language they used to describe their problems to you.

      Then you are on the same page, speaking the same language?

      See. This is the most basic thing but it's also tricky to do.

      You have to present a solution in descriptive language your
      prospects can grasp.
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  • Business-to-business soliciting is totally legal.

    Calling people at home who are not in business could
    get you in trouble.
  • Cash Cow is about contacting business owners not the general public!

    So cold calling is legal, its business to business.

    GoGetta
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