Cold Calling CEO/CFO's

28 replies
Hey Everyone I am new to here, I have been reading stuff without joining but I thought I would give it a go.

My current position is to contact CEO & CFO's of major organisations to streamline and minimise their ongoing freight costs. This is a cold calling position.

The problem I face is an odd one. I call up and can easily get through to 80% of my intended targets on the first go. I know that this is half the battle BUT here is the clincher. When I get put through it goes to voice-mail 90% of the time. The 5 CFO/CEO I have spoken to have mostly said no and I have sent a couple proposals.

I have spoken to my boss about this but I have no idea around this since its just VM and the boss doesn't like leaving voice mails. I was thinking of doing a mail-out and that has a limited response rate.

I personally have to source my own leads and that can take half the day to get the right name since it may not be that easy to find (sometimes you have luck or its on LinkedIn). As such I can only do around 10-15 calls a day.

Any tips appreciated
#calling #ceo or cfo #cold
  • Profile picture of the author ewenmack
    I've read surveys where these busy people prefer email over phone.

    I think Bryan Kruizberger has the best training
    on opening and follow-ups to these people you are after.
    He has sold $15 million worth of services to big brand names
    starting and following up with emails.
    No name recognition or referrals were used.

    Breakthrough Email is what he calls it.

    Best,
    Doctor E. Vile
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  • Profile picture of the author jamesfreddyc
    How often do you follow up? I mean, CEO's tend to be busy.
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    • Profile picture of the author dimmers81
      Hey guys

      Originally Posted by jamesfreddyc View Post

      How often do you follow up? I mean, CEO's tend to be busy.
      My rule of thumb is (if I do not know their schedule) call in the morning between 9:30-11:30 then 2-4:30 if I did not get them in the morning. If I dont get them on the day I set a callback in a week. If not luck then- 1 month.

      I will also start on Friday afternoons to work on my email and snail-mail proposals.

      Originally Posted by ewenmack View Post

      I've read surveys where these busy people prefer email over phone.

      I think Bryan Kruizberger has the best training
      on opening and follow-ups to these people you are after.
      He has sold $15 million worth of services to big brand names
      starting and following up with emails.
      No name recognition or referrals were used.

      Breakthrough Email is what he calls it.

      Best,
      Doctor E. Vile
      I am kind of leading towards that. I try to work out their email if I can not find it on-line or i use email-format.com to try and work out their email address for starters. I have also hired from freelancer to do some cheap lead sourcing as well so I wont have to spend half a day doing recon
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      • Profile picture of the author ewenmack
        Originally Posted by dimmers81 View Post

        Hey guys



        My rule of thumb is (if I do not know their schedule) call in the morning between 9:30-11:30 then 2-4:30 if I did not get them in the morning. If I dont get them on the day I set a callback in a week. If not luck then- 1 month.

        I will also start on Friday afternoons to work on my email and snail-mail proposals.



        I am kind of leading towards that. I try to work out their email if I can not find it on-line or i use email-format.com to try and work out their email address for starters. I have also hired from freelancer to do some cheap lead sourcing as well so I wont have to spend half a day doing recon
        There is a very clear way to get open rates of 80% on initial
        campaigns.

        Then there is a very clear path to get a meeting commitment.

        Don't leave it to chance, get into Bryan Kruizberger's world.

        HubSpot have brought him in.

        Best,
        Doctor E. Vile
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  • Profile picture of the author bizgrower
    Kreuzberger (Not affiliated, of course):

    Breakthrough Email | The #1 Resource for Effective Emailing.
    Signature

    "If you think you're the smartest person in the room, then you're probably in the wrong room."

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    • Profile picture of the author dimmers81
      Thanks for the heads up.

      I attempted to use Bryan Kruizberger cold email template as a trial this afternoon and one of the email replies told me in a very nice way to get stuffed. The only issue is finding the right email addresses as CFO emails are not that easy to find.

      That being said I am happy to experiment and keep trialling this.
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      • Profile picture of the author ewenmack
        Originally Posted by dimmers81 View Post

        Thanks for the heads up.

        I attempted to use Bryan Kruizberger cold email template as a trial this afternoon and one of the email replies told me in a very nice way to get stuffed. The only issue is finding the right email addresses as CFO emails are not that easy to find.

        That being said I am happy to experiment and keep trialling this.

        Are you first asking who is the right person and asking that question to
        about 4 people in the company, via email?

        Best,
        Doctor E. Vile
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        • Profile picture of the author dimmers81
          Originally Posted by ewenmack View Post

          Are you first asking who is the right person and asking that question to
          about 4 people in the company, via email?

          Best,
          Doctor E. Vile
          Yes I did directly from the website and adjusted accordingly.

          My position is in freight consultancy. My role is to take a company and analyze their freight system and find ways to minimize costs.

          Generally speaking we target CFO CEO but never the freight division directly because they will hate change. I didn't realise I sent it to a person in supply chain.



          Only question is what do you do if you don't have any contacts and are researching on a website for contacts.
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          • Profile picture of the author thet
            Just keep calling. And don't act shocked when you finally reach the person. That blows away your pitch because he feels you rarely speak to people like him/her.
            Signature

            Recognize reality even when you don't like it - especially when you don't like it.
            — Charlie Munger

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            • Profile picture of the author dimmers81
              Originally Posted by thet View Post

              Just keep calling. And don't act shocked when you finally reach the person. That blows away your pitch because he feels you rarely speak to people like him/her.
              Thet you know what's funny. Today I got through to a CFO of a major investment firm. I completely stuffed up my pitch, stuttered, forgot my line and had no idea. I then paused and appologised and said I know it isn't good but I said I lost my train of thought.

              I then stated my pitch again and he said "I'm not the person, barbara is, here is her direct line she is not in today but best to call her tomorrow morning"
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              • Profile picture of the author thet
                Originally Posted by dimmers81 View Post

                Thet you know what's funny. Today I got through to a CFO of a major investment firm. I completely stuffed up my pitch, stuttered, forgot my line and had no idea. I then paused and appologised and said I know it isn't good but I said I lost my train of thought.

                I then stated my pitch again and he said "I'm not the person, barbara is, here is her direct line she is not in today but best to call her tomorrow morning"
                You saved yourself well there. Now call Barbara, and tell her that [ ] told you to call her to make an appointment about [ ]
                Signature

                Recognize reality even when you don't like it - especially when you don't like it.
                — Charlie Munger

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  • Originally Posted by dimmers81 View Post

    I personally have to source my own leads and that can take half the day to get the right name since it may not be that easy to find (sometimes you have luck or its on LinkedIn). As such I can only do around 10-15 calls a day.

    Any tips appreciated
    Well - you did say Linkedin - here is what me a couple of peers are doing right now.

    Message the leads via Linkedin - we send up to 200 messages a day.

    How you might ask - well, we find the groups that our prospects are members of and use that way to contact them.

    With the right message we can get a 10% response rate.
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    Offline Coach - Programmer since 1995 - Over 40 Projects In 10 Countries
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    [Offline Coaching] Will Teach You How to Get To $500 | [Offline Leads] Not Death Yet Icelandic Way To 5k Paydays...
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  • Profile picture of the author Oziboomer
    As a CEO I always tell any caller, who manages to get through the gatekeepers, that I'm Busy.

    I will then always ask for an email or physically posted proposal that details the proposition.

    Usually will then see if the company follows up and then and only then may possibly meet if it is convenient, on my terms and will only consider any proposal if it will most likely benefit my company in some way.

    The few times someone has broken through it is usually because they have used a GOOD pattern interrupt and then rapidly...and I mean rapidly...established some rapport instantly.

    These types of cold callers are few and far between and suspect the successful ones have done their homework. For example...know about me.... something personal...something we can discuss...forget your offer until the rapport is built. Then you have a chance.

    Just my opinion BTW
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    • Profile picture of the author thet
      Originally Posted by Oziboomer View Post

      As a CEO I always tell any caller, who manages to get through the gatekeepers, that I'm Busy.

      I will then always ask for an email or physically posted proposal that details the proposition.

      Usually will then see if the company follows up and then and only then may possibly meet if it is convenient, on my terms and will only consider any proposal if it will most likely benefit my company in some way.

      The few times someone has broken through it is usually because they have used a GOOD pattern interrupt and then rapidly...and I mean rapidly...established some rapport instantly.

      These types of cold callers are few and far between and suspect the successful ones have done their homework. For example...know about me.... something personal...something we can discuss...forget your offer until the rapport is built. Then you have a chance.

      Just my opinion BTW
      The reason people dont mail you is because they think you are arrogant. It's a win/win situation, not a "I am the big CEO so i decide every step of the way" blabla type nonsense.
      Signature

      Recognize reality even when you don't like it - especially when you don't like it.
      — Charlie Munger

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      • Profile picture of the author dimmers81
        Originally Posted by thet View Post

        The reason people dont mail you is because they think you are arrogant. It's a win/win situation, not a "I am the big CEO so i decide every step of the way" blabla type nonsense.
        Actually I used to work directly under a man that owned 6 companies. He made ALL his office staff gatekeepers and asked for everything in writing.

        He received so many calls a day it was ridiculous. We would all tell incoming sales callers to put through something in writing so when he has a proper moment he can sit down and understand it fully.

        Very few would email anything through BUT those that DID were generally looked at. We chalked it up to laziness of the sales staff and that if they cant even spend 2 seconds and send a standard letter (even if its a mass mail-out one) they don't really deserve the business.
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        • Profile picture of the author jamesfreddyc
          Originally Posted by dimmers81 View Post

          Actually I used to work directly under a man that owned 6 companies. He made ALL his office staff gatekeepers and asked for everything in writing.

          He received so many calls a day it was ridiculous. We would all tell incoming sales callers to put through something in writing so when he has a proper moment he can sit down and understand it fully.

          Very few would email anything through BUT those that DID were generally looked at. We chalked it up to laziness of the sales staff and that if they cant even spend 2 seconds and send a standard letter (even if its a mass mail-out one) they don't really deserve the business.
          You need a good Minimercial that you can deliver in 20-30 seconds that hits on the very pain your target market experiences and what your products solve. They either relate well to it and have that pain or not. Otherwise you end up just chasing everyone who says, "Send me a proposal".
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    • Profile picture of the author jamesfreddyc
      Originally Posted by Oziboomer View Post

      As a CEO I always tell any caller, who manages to get through the gatekeepers, that I'm Busy.

      I will then always ask for an email or physically posted proposal that details the proposition.

      Usually will then see if the company follows up and then and only then may possibly meet if it is convenient, on my terms and will only consider any proposal if it will most likely benefit my company in some way.

      The few times someone has broken through it is usually because they have used a GOOD pattern interrupt and then rapidly...and I mean rapidly...established some rapport instantly.

      These types of cold callers are few and far between and suspect the successful ones have done their homework. For example...know about me.... something personal...something we can discuss...forget your offer until the rapport is built. Then you have a chance.

      Just my opinion BTW
      Everyone is busy.

      Any initial call (yes cold-call) should just be framed to see if there is any reason to meet with you at all. There's no way to tell from 30 seconds if I'd really even want to take you on as a client, let alone find out if you could even pay (just because you are a CEO doesn't automatically mean you are a good one). So, a decent minimercial, delivered with a bit of prizing and fish to see if there is any fit for need would be ideal. From there setup to talk for 20 mins at some other time. Best would be meeting ME on MY GoToMeeting session that I setup (see Oren Klaff).

      Sending you anything at this point would be a waste of time and energy. In fact my reply would be just that: "No, sorry I don't send material to anyone and that is why I am calling now: to see if we should meet for 10 minutes to find out...."
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  • Profile picture of the author Oziboomer
    Originally Posted by dimmers81 View Post

    Hey Everyone I am new to here, I have been reading stuff without joining but I thought I would give it a go.

    My current position is to contact CEO & CFO's of major organisations to streamline and minimise their ongoing freight costs. This is a cold calling position.

    The problem I face is an odd one. I call up and can easily get through to 80% of my intended targets on the first go. I know that this is half the battle BUT here is the clincher. When I get put through it goes to voice-mail 90% of the time. The 5 CFO/CEO I have spoken to have mostly said no and I have sent a couple proposals.

    I have spoken to my boss about this but I have no idea around this since its just VM and the boss doesn't like leaving voice mails. I was thinking of doing a mail-out and that has a limited response rate.

    I personally have to source my own leads and that can take half the day to get the right name since it may not be that easy to find (sometimes you have luck or its on LinkedIn). As such I can only do around 10-15 calls a day.

    Any tips appreciated
    Biggest problem for us in regards to freight (apart from direct cost) is the damage to products by couriers and the damage to our reputation and the time it takes to rectify the problem by re-supply and return of damaged products. TIME for staff member to fix ONE freight stuff up can sometimes be 2-3 hours. You do the maths on volume. Staff hate sorting freight problems.

    Perhaps you should just say in your Voice message that You personally guarantee to minimise freight damage and improve handling of freight problems using our exclusive XYZ system. Call me so I can explain.
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  • Profile picture of the author Oziboomer
    Something thats woking in regards to fixing freight issues has been to CC in the director, state manger etc when making complaint....perhaps you can flip this and CC in the CEO on emails you send to the dispatch department explaining you can save them freight costs.

    Sorry for the multi part response.

    Freight problems are a big cost for my business.
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    • Profile picture of the author dimmers81
      Originally Posted by Oziboomer View Post

      Something thats woking in regards to fixing freight issues has been to CC in the director, state manger etc when making complaint....perhaps you can flip this and CC in the CEO on emails you send to the dispatch department explaining you can save them freight costs.

      Sorry for the multi part response.

      Freight problems are a big cost for my business.
      Oziboomer thank you for your feedback and advised I will definitely take that on board.

      Interestingly enough I am based in Sydney so I might just PM you
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  • Profile picture of the author MaxwellB
    First of all shoot me a PM me so I can give you a targeted lead list to help you out. Your boss is a moron for making you find your own leads to call. He could get 10x the results if he just bought a list for you. I buy leads in bulk so it's no big deal.

    Then second you should be leaving voicemails, expertly crafted to get a call back from them. There's always an angle you can take that will get them interested in a voicemail.

    For example. You do an analysis of their freign costs.

    "Hey Mr. Prospect this is John, I was asked to call you because you may be entitled to shave some specific costs off of your freight program, costs like (SPECIFIC COST HERE) AND (HERE). Give me a call back and we can discuss, my number is XXXXXXX"

    So obviously I know nothing about freight so replace Freight program with the industry term for that and then put in some specific costs. I'm sure there are specific terms for things they pay for like different fees for different services?

    Now your speaking his language...and he's thinking "Shit my current guy charges us for so many things, let me call this guy back"

    And then you get call backs.

    And then you ask for a raise because your boss is a moron.
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    • Profile picture of the author dimmers81
      Originally Posted by MaxwellB View Post

      First of all shoot me a PM me so I can give you a targeted lead list to help you out. Your boss is a moron for making you find your own leads to call. He could get 10x the results if he just bought a list for you. I buy leads in bulk so it's no big deal.

      Then second you should be leaving voicemails, expertly crafted to get a call back from them. There's always an angle you can take that will get them interested in a voicemail.

      For example. You do an analysis of their freign costs.

      "Hey Mr. Prospect this is John, I was asked to call you because you may be entitled to shave some specific costs off of your freight program, costs like (SPECIFIC COST HERE) AND (HERE). Give me a call back and we can discuss, my number is XXXXXXX"

      So obviously I know nothing about freight so replace Freight program with the industry term for that and then put in some specific costs. I'm sure there are specific terms for things they pay for like different fees for different services?

      Now your speaking his language...and he's thinking "Shit my current guy charges us for so many things, let me call this guy back"

      And then you get call backs.

      And then you ask for a raise because your boss is a moron.
      Technically we are freight consultants so the way things work is that we analyse your current system and typically can save a client 10-50% in general freight costs. So I cant mention specific unless we are aloud to study their freight trends.

      I am generally not allowed to leave a VM (well not allowed is the wrong word. Frowned upon).

      I was given a list by the bosses daughter of 70 companies to target BUT she put in all the wrong information such as follows. Apple Computer CEO Tim Cook. Not technically wrong BUT I am from Australia so I need to target the GM of Apple AUSTRALIA. Or she would GUESS the email address so a lot bounce and I am fixing all this up. So the companies are FINE to target BUT I have to redo all her work. On more than one occasion I have called up and asked for the CEO / CFO and they have said... That is our Global CEO in Korea, USA" and so on. I look like an idiot and have to fix it all.

      Maybe I do sound arrogant that I generally get to around 80% of the CFO's once I find their correct details but its a bitch trying to find the right info to get there in the first place.
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      • Profile picture of the author jamesfreddyc
        Originally Posted by dimmers81 View Post

        Technically we are freight consultants so the way things work is that we analyse your current system and typically can save a client 10-50% in general freight costs. So I cant mention specific unless we are aloud to study their freight trends.
        Analysis? Why? Maybe they are ALREADY saving 50% on freight????

        Your only job at this point is to qualify them to meet to see if you all should work together. I wouldn't be thinking about anything other than finding out if they are having this problem that you solve (high freight costs or missing out on savings).

        Just put what you have above into a 20 second minimercial that you can deliver quickly. You will never need to call back, leave a voice mail, or send information --- they either have the pain of high freight costs or not.
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        • Originally Posted by jamesfreddyc View Post

          Analysis? Why? Maybe they are ALREADY saving 50% on freight????

          Your only job at this point is to qualify them to meet to see if you all should work together. I wouldn't be thinking about anything other than finding out if they are having this problem that you solve (high freight costs or missing out on savings).

          Just put what you have above into a 20 second minimercial that you can deliver quickly. You will never need to call back, leave a voice mail, or send information --- they either have the pain of high freight costs or not.

          love the Oren Klaff reference -

          what a re frame = it's 2014, I don't waste time and money meeting F2F,
          on a maybe .. there's a good fit! "all I need is 20-30 seconds, and you can tell me if another minute is worth it, fair enough?"

          just opted in to Brian H email (thanks Bizgrower)

          his initial autoresponse here:

          Don't try to contact the "right people".....go ABOVE them first, and get their boss to refer you.

          This means:
          Don't do a proposal.
          Don't fly to Minneapolis.
          Don't measure the close rate.
          Don't brag to your boss that you're "Talking to Best Buy!"
          Because......

          "Unless you're in the room with the person who can say "yes".....all your other efforts are wasted!"



          oops... it's Bryan Kreuzberger, and his email has good "actionable" content
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  • Profile picture of the author bizgrower
    And don't forget the pain point Oziboomer gave you.
    The time and reputation costs of damaged freight -
    if you do or can do anything to improve that.
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    "If you think you're the smartest person in the room, then you're probably in the wrong room."

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  • Profile picture of the author jamesfreddyc
    Originally Posted by kirbymarketingconcierge View Post

    love the Oren Klaff reference -

    what a re frame = it's 2014, I don't waste time and money meeting F2F,
    on a maybe .. there's a good fit! "all I need is 20-30 seconds, and you can tell me if another minute is worth it, fair enough?"
    That prizing concept/frame can be a great way to turnaround status. I mean, someone like Oziboomer is oozing with high status because his morning was 39 calls of "Good morning, this is blah from xyz company. How are YOU today!". So he's immediately at "...oh geez, the 40th sales call this morning." and without thought simply ready to fire out, "Can you just shoot me an email with the info?..."

    ...his frame can be shaken pretty quickly if he does connect with the pain points presented in a minimercial though.

    "<prospect name> I've had a lot of success helping CEO's and managers in <market name> that have been getting squeezed on the outright costs of freight, the costs of damages during shipping and the poor reputation that comes with those damaged goods. Do you want me to tell you how I am doing this?"

    If he doesn't connect, fine. Move on. But if it resonates then his status is quickly lowered and my status is immediately elevated because now my frame is saying, "I know something you don't", that... "I have a solution to your problem". His frame goes from Mr. Big Shnizzle to a bit more amiable to listen and allow me in to discuss.

    There is no analysis, proposal package, complex numbers to a solution, etc... I am just trying to hit that primal brain's resistance it had put up, break thru it a bit. The byproduct is less brushyoffy, to more listenyupity.
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    • it's like "flipping the script"

      After 39 calls, everyday, day after day,

      they have their standard script and standard response to get salespeople off the phone

      IMO - how you respond to that 1st act of resistence is crucial, because

      how you respond tells them so much, and it all happens in seconds.

      Are you relaxed, composed, confident, accepting to whatever they say

      and ready to "redirect" to your minimercial, script, sales process or not???

      Respond, don't react.

      Prizing : there are less of us, and we don't take 39 calls/day then there are of them

      If your not interested, my next few calls are to the C Level of your competition -
      I am the prize!

      p.s. - I sold investments, over the phone, to C level, owners, accredited investors, and doctors.

      We were trained to re-arrange status - If I put them on a pedestal, I couldn't sell myself, and, an Intangible product
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