Easy cold calls, bank $$$.

7 replies
The problem with most cold calls is that they are generic which leads to an equally generic outcome; 'NOT INTERESTED!'

They follow a predictable pattern which the caller has received over and over, what you get is what's called a conditioned response and is rejected on the unconscious level automatically.

To break this unconscious behavior we need to do a few things first:

A good cold call should be targeted and fit into our Preferred Prospect Profile or PPP.

The PPP is what we use before we pick up the phone. We analyze who our best prospects are in terms of opportunity size, buying regularity, and who our existing customers are. Who buys the most? Who gives us the highest return on energy spent per call? These are the new accounts we should be hunting that match our profile.

In sales, not all prospects are created equal. We need to carefully create our lists that closely match our PPP if we want to know beforehand: how bought before, how much they spend, and what their industry hot buttons are in terms of problems and opportunities we can dial into to make them interested in our offer.

Armed with our PPP we then research each lead before calling, this is what separates the amateur from the professional cold caller; the professional is ALWAYS prepared. You show you have taken the effort to understand their current situation first, this builds credibility and adds to a difference in positioning for your call that breaks the repetitive pattern of your introduction - which I'll show you in just a second.

The second most important thing we need to do is to build their curiosity first as opposed to directly searching for a need. This is SO IMPORTANT and is massively overlooked by even so called sales experts.

I am on the phone every day, trust me on this. THIS is how you'll get more prospects on the phone with you.

Buyers generally don't like to go into sales cycles which is why they'll play their hand close to their chest at the start of the call. They aren't interested in what you have to offer, so why do they feel the need to cooperate with you? They'll give you a boatload of generic objections because they are not curious yet to find out more about what you can do for their business.

This is why customers object in the first place. No need, 'Not interested.'

Here are some realities when it comes to cold calling:

Only roughly 10% of the prospects you call will have an urgent emotional need that they are prepared to part their money for.

If the need is really that strong and painful enough they will certainly be in contact with several other suppliers. You then play the game of differentiating your offering as to not be seen as commodity or you can engage in an often lose/lose price war with other companies.

The good news is that maybe 30% of the calls you make do not have a need, but can be made to WANT your product by giving benefits WITHOUT features at the start of your call which leads them to be CURIOUS.

NOONE is talking to these customers because they are not yet AWARE or CURIOUS as to how your product can help them.

This is called 'creating the need', and is how you can predictably control your sales cycles and overall revenue for your entire sales career.

Making the prospect curious gets them on board the call with you, they will be asking themselves (and you), 'what is it, what is it, what is it????!!' and will comply with your requests and questions much easier when they can see the BENEFIT of talking with you more and is what creates the value of your conversation.

Here's what I suggest to put these principles into effect:

Hi, this is Matthew calling XYZ company.

I appreciate you were not expecting my call so I will be brief

Can you talk for a moment?

Thank you. There are two specific reasons for my call today:

The first is that I have done some research on your company and I notice that you are involved in the Automotive industry and have recently won a government contract supplying new BMWs

Is this the case?

Ok, the second reason for my call today is that at XYZ company we help businesses increase their current customer base, and I have shown many companies how to increase demand for their products by taking advantage of two little known features of their websites. In fact I have done some work with a company local to you called ABC Company, have you heard of them?

I introduced a set up at ABC that reduces the cost of the advertising and allows them to target a specific niche market that suits their product and brand. This means they can increase their repeat customer base and keep advertising to a receptive market who are actively looking for deals and information about cars within Australia and overseas that gets them more business. Now ABC have a profitable marketing strategy and they have found their business can expand much quicker than before. They feel much happier and more positive about their business now since I've introduced these changes to their company, and no longer worry about cashflow. I did it by making a couple of changes to the way they advertise. I recommended that they set up their Google+ Local page to target people looking FOR them.

John, are you familiar with Google+ Local?

Ok, well I am interested to see if I can help you and your company in a similar way, do you mind if I ask you just a few quick questions to see if it would make sense for us to talk further?

.. And then you can start qualifying, do your situation analysis and book them in for an appointment.

Now you have done something magic, you created a need; something from nothing. If you went in with your usual problem identification techniques you would be shot down instantly.

People don't know what they don't know. But now they know A LITTLE about the benefits of the internet and Google+ Local they are hungry for more information.

Don't talk about your features, let them find that out at the meeting.

This kind of approach opens their ears and minds to being receptive to whatever you have to sell. And has lifted my conversions dramatically since I change my perspective on creating value and solving problems on a cold call.
#$$$ #bank #calls #cold #easy #sales #warming
  • Profile picture of the author mojo1
    This is an outstanding share. Would you say this strategy works best when focusing on one niche during your calling session?
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    • Profile picture of the author Jason Kanigan
      Originally Posted by mojo1 View Post

      This is an outstanding share. Would you say this strategy works best when focusing on one niche during your calling session?
      You SHOULD be only focusing on one niche during your call session. Probably for the week, or until the list is dead!

      How else are you going to learn the problems the decision makers in that niche are experiencing?
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      • Profile picture of the author mojo1
        Originally Posted by Jason Kanigan View Post

        You SHOULD be only focusing on one niche during your call session. Probably for the week, or until the list is dead!

        How else are you going to learn the problems the decision makers in that niche are experiencing?
        I promise I know this cuz I took your wonderful course Jason
        It just makes plain sense to focus on one niche if cold calling will be done the way Pantera suggest in this post. Just wanted to pump some life into this thread and ask for the benefit of others reading this post who might not have made those connections.
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        • Profile picture of the author Jason Kanigan
          Originally Posted by mojo1 View Post

          I promise I know this cuz I took your wonderful course Jason
          It just makes plain sense to focus on one niche if cold calling will be done the way Pantera suggest in this post. Just wanted to pump some life into this thread and ask for the benefit of others reading this post who might not have made those connections.
          Good deal. Thanks for clarifying. I should have looked closer and I would have recognized your username.

          For everyone else:

          Pick your niche and call it to death. TO DEATH. You'll understand why two weeks in--you will know exactly what problems these people consistently experience that you can solve...and what to say that is magic to their ears. They'll have no choice but to listen to you. You will stand out and get instant credibility by what you say. The only way you could know what you just said is because you've helped someone just like them.

          And once you figure these magic words out (the decision makers will tell them to you!), they'll work for the rest of your life--or until a huge technological change comes along that completely alters how they do business.

          Much of the problem with selling is not being known in your field. You have to become the guy or gal to talk to about __________. But if you keep hopping around, from service to service, product to product, niche to niche, you'll never get there. It takes a few months. Once you're there, though, your audience will think you've been there for much longer than you actually have.
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    • Profile picture of the author PanteraIM
      Originally Posted by mojo1 View Post

      This is an outstanding share. Would you say this strategy works best when focusing on one niche during your calling session?
      It's not so much as the industry you are targeting but their company profile as I mentioned at the start of this post.

      I don't focus per industry, but rather look for similarities between companies in my portfolio such as opportunity size, purchasing frequency, strategic access to new contacts/leads.

      I agree that focusing per industry is a sound strategy when just starting out though.

      Appreciate your kind words,
      Signature

      I have no idea what I'm doing.

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  • Profile picture of the author trader909
    Banned
    Very good advice. I can use ideas into my industry. Thank you
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  • Profile picture of the author misterme
    Excellent stuff. In a way, this is like using sales letter copywriting as a telephone script: using bullet points meant to hit unrealized or realized needs, sell benefits and pique curiosity. And using social proof to establish credibility.
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