Cold Calling Isn’t Dead, It’s Alive and Kicking Right?

Cold Calling ….

Just those two words together—cold calling—puts many people far away from warm and happy. Given that it’s so much fun for so many people, and that I have heard a number of times recently that the last nail has been banged into the cold calling coffin, why is cold calling still even on our radar screens?

Because it works.

“It doesn’t work,” you say? Well, in one sense I agree with you: there are a million ways to do it wrong and fail. Fail at something enough, and it’s easy to dismiss the whole tactic.

In fact, “Cold Calling is Dead” is one of the common myths in 5 Sales Prospecting Myths Debunked. (Download the full report for new data on the effectiveness of cold calling.)

Meanwhile, case study after case study confirms that cold calling can work. For example, I’ve seen cold calling work as a major part of a lead generation approach, yielding 6 clients in 6 months (a major acceleration of client additions), and increasing the pipeline by fivefold, for Deep Customer Connections, a management consulting firm in the insurance industry.

Making Ten Million Dollars

Many anti-cold-calling folks say, “There are so many powerful ways to build your client base, why even bother trying cold calling? You can give speeches. Publish articles and books. Work your network: it’s more extensive than you probably think.”

To paraphrase a famous business person (Comedian Steve Martin):

  • Question: What’s the secret to making ten million dollars?
  • Answer: First, start with nine million dollars.

Well, some people don’t write very well, they don’t have extensive networks, and speaking isn’t their bag. Some people can’t wait a year for a lead to materialize out of their writing or their network! If you can employ these tactics, great. It’s like starting with nine million. But regardless of whether you start with nine million or no million, cold calling still works.

What’s In It For Me (WIIFM)

Let’s assume you’re a Chief Strategy Officer at an $800 million dollar manufacturing firm in Ohio. Someone calls you and says, “My name is John Smith and I’m a change management consultant. Do you need change? Let’s meet.” Even if you’re headed to the vending machine, your immediate change needs probably won’t include John Smith.

But let’s say John calls and says, “My name is John Smith. The reason I’m calling is because my company, the ABC Consulting Group, has just recently conducted a major benchmark study on how manufacturing businesses—including Competitor 1 and Competitor 2 of yours—in the Midwest are succeeding with their labor unions in the face of global outsourcing. There are 3 practices that are working across the board and a few that fail most everyplace. If you’re interested, we’d be happy to come by and take you through the results.”

If this topic is on your mind, you might risk a 30-minute meeting to hear the results. Or you might have some questions right then and there. Either way, if I’m John, I’ve presented my cold “introduction” of myself and my company in a way that delivers value to you.

Will everyone take me up on this meeting? Of course not. But if my target list is well segmented and clean, a number of prospects will. When I get in front of them, the topic of conversation will be my recent research, work, and expertise—not a “get to know you and sell you” meeting.

A conversation about recent research is just one of many potential value propositions for the meeting. You might not want to present research because it might not be the best entry for you. But if you’re offering is worthwhile, a conversation with you should be able to offer something of strong value. (If you can’t figure out how you can deliver value in a conversation, find a new line of work.)

Regardless of the meeting premise, you have to handle the conversation well to get the best result from this meeting, but the ball is definitely in your court as to what happens from here on out.

 

How the Numbers Work

Answer the following question: If you get 10 meetings with 10 company leaders who have the right title, are in the right organization, and have the right criteria for being a good prospect for you, and you stay in touch with them fairly regularly in a meaningful way after the meeting, how many would become clients of yours in some capacity over the next year or two?

The most common answers I get for this question are “two or three” or “eight or nine”. Let’s assume you’re more modest, and the answer is two.

Next question: What does a bread-and-butter buyer represent to you in terms of revenue over the course of a year? It could be $7k, $70k, $170k, $700k, or anything. Let’s assume it’s $70k.

So, for the cost of setting up 10 meetings with prospects, whatever that cost is, the immediate return on your investment is $140k. This, of course, doesn’t take into account long term ROI factors such as repeat business and increased referrals.

The fallacy, in many cases, is that most sellers aren’t as good at closing as they think they are, and they don’t continue to stay in touch with the prospect regularly and meaningfully after they meet with them. But these factors don’t have anything to do with cold calling. They have to do with your ongoing nurturing, and the resources you devote to follow up. The cold calling part works fine for what it’s supposed to do: make an introduction with a prospective buyer that can lead to a good relationship. How you choose to build the relationship is a different matter.

Have Someone Else Call For You

Maybe you see the value and believe that cold calling can work, but you simply do not want to make the calls. You can have someone else call for you.

Reread the WIIFM section of this article above. In the beginning, you must be involved in targeting the right prospects, providing the strongest value proposition, and working with a telephone business developer to represent you clearly, strongly, and fairly. Then, let them go to work. Cold calling itself is not something that you, personally, need to get good at.

It’s been said that people make decisions with their hearts and justify them with their heads. People don’t want to make cold calls, and some don’t want to be associated with the method. So they figure out how to justify not employing cold calling, or why other things work better.

If you don’t want to make cold calls, don’t. But cold calling does work. Most people just do it wrong.

 

Click Here to learn more about website visitor tracking 

Call:805-222-6076 to learn more

Chat Now

Follow Us

linkedin facebook 

www.betterleadgen.com

Source: https://www.rainsalestraining.com/blog/cold-calling-works-you-just-do-it-wrong

 

Uncover Qualified Leads

One revenue growth tip for Sales Leaders that’s a real pay off

Uncover Qualified Leads

Sales are at the heart of every business, and when they are lackluster, it can spell disaster. Unfortunately, when many business owners see the numbers coming up short, they rely on flash-in-the-pan tactics like short-term incentives for salespeople, price reductions for customers, and sometimes just berating the sales team for non-delivery on goals. The problem with any of these techniques is that they are all bad for business. Incentives cost money and create only short-term boosts, if they work at all. Price reductions cut margins and diminish the value proposition of the product. And kicking the sales team when things are bad just demoralizes the staff and worsens their efforts. So what works? One thing–and every business owner can do it: monitoring sales calls.

Day 1. Start with an off-hours listen. If your company records calls, taking 1 hour to go back over calls from that day will show you how to put your sales back on course.  You will hear your sales reps using the wrong words, missing buying cues, giving customers incorrect information, and not asking for the sale. All of these things can be fixed, but only when they are discovered and taught around. Make a list of the issues and come in the next day and roleplay them with your team. Give them the words you want them to use, re-educate them on your product or service, and then practice questions they can use to close customers. Tell them that you will continue to take the time out of your day to listen because you know that together, you can drive sales.

Day 2. Live Listen to your Sales Reps calls. Choose 1 hour out of the day when your reps are generally busiest with sales calls.  Let your reps know that you will be spending time listening to their calls, because sales are the most crucial ingredient to making your company succeed. Make sure your reps feel that they have an important contribution to make. Then listen to calls as they happen. At first, don’t interrupt the call. Just take notes and give the rep the notes at the end of the call, and talk about what was done well, and where things could have been better. After a few calls, begin making suggestions during the call using a chat.  When a salesperson doesn’t pick up on a buying cue for example, point that out and include the phrase she should use to bring the customer to the close. As you help to bring a few calls to a sale, your sales rep will feel both the power of your suggestions, and understand that your monitoring is helpful rather than frightening.

Day 3. Ask your sales reps to monitor themselves.   At the end of the day, select 2-3 recordings and listen to them. Rather than telling the rep what to do differently on the call, ask questions to lead her to that knowledge herself. For instance, if a rep forgets to ask for the sale, you might say “can you listen to this call and tell me what words you used to see if the customer was ready to purchase?” As the rep answers, she will realize her omission, and remember to do it on the next call–because you have made her realize in an obvious but non-embarrassing way that her dialogue is missing something important. When she tells you that she did not make the ask, ask her how she thinks she might have done so. If needed, practice the word with her. Then encourage her to do it on every call for the next hour. It may be uncomfortable at first, but it will get easier with each call, and it will directly impact her success and your sales.

If you need sales and aren’t getting them, you have to get down in the trenches with your sales team and diagnose what’s happening. There is no substitute for it, and the person doing it should be the business owner rather than anyone else, because when the owner gets involved, everyone on staff understands that this issue is monumental, that it won’t go away, and that addressing it is a positive event, rather than a blame game. Yes, it takes time out of a business owner’s day,  and yes it can lead to scary and even painful discoveries, but ultimately, it is the quickest way to heal your sales and propel your company forward.

 

Source:https://www.inc.com/vanessa-merit-nornberg/got-3-days-make-more-sales-by-doing-this-alone.html?cid=search

 

 

 

The biggest misconception about email marketing in the US…

I have to opt in to receive B2B emails..

After sending hundreds of thousands of B2B emails we want to share the single most misunderstood part about email marketing, we hear it everyday. So, we want to clear it up and provide the actual rules for CAN SPAM Compliance, because, in reality businesses can send other businesses emails as long as they comply with the CAN SPAM rules.

Here are the CAN SPAM rules for the USA so you can be better informed…

Do you use email in your business? The CAN-SPAM Act, a law that sets the rules for commercial email, establishes requirements for commercial messages, gives recipients the right to have you stop emailing them, and spells out tough penalties for violations.

Despite its name, the CAN-SPAM Act doesn’t apply just to bulk email. It covers all commercial messages, which the law defines as “any electronic mail message the primary purpose of which is the commercial advertisement or promotion of a commercial product or service,” including email that promotes content on commercial websites. The law makes no exception for business-to-business email. That means all email – for example, a message to former customers announcing a new product line – must comply with the law.

Each separate email in violation of the CAN-SPAM Act is subject to penalties of up to $41,484, so non-compliance can be costly. But following the law isn’t complicated. Here’s a rundown of CAN-SPAM’s main requirements:

  1. Don’t use false or misleading header information. Your “From,” “To,” “Reply-To,” and routing information – including the originating domain name and email address – must be accurate and identify the person or business who initiated the message.
  2. Don’t use deceptive subject lines. The subject line must accurately reflect the content of the message.
  3. Identify the message as an ad. The law gives you a lot of leeway in how to do this, but you must disclose clearly and conspicuously that your message is an advertisement.
  4. Tell recipients where you’re located. Your message must include your valid physical postal address. This can be your current street address, a post office box you’ve registered with the U.S. Postal Service, or a private mailbox you’ve registered with a commercial mail receiving agency established under Postal Service regulations.
  5. Tell recipients how to opt out of receiving future email from you. Your message must include a clear and conspicuous explanation of how the recipient can opt out of getting email from you in the future. Craft the notice in a way that’s easy for an ordinary person to recognize, read, and understand. Creative use of type size, color, and location can improve clarity. Give a return email address or another easy Internet-based way to allow people to communicate their choice to you. You may create a menu to allow a recipient to opt out of certain types of messages, but you must include the option to stop all commercial messages from you. Make sure your spam filter doesn’t block these opt-out requests.
  6. Honor opt-out requests promptly. Any opt-out mechanism you offer must be able to process opt-out requests for at least 30 days after you send your message. You must honor a recipient’s opt-out request within 10 business days. You can’t charge a fee, require the recipient to give you any personally identifying information beyond an email address, or make the recipient take any step other than sending a reply email or visiting a single page on an Internet website as a condition for honoring an opt-out request. Once people have told you they don’t want to receive more messages from you, you can’t sell or transfer their email addresses, even in the form of a mailing list. The only exception is that you may transfer the addresses to a company you’ve hired to help you comply with the CAN-SPAM Act.
  7. Monitor what others are doing on your behalf. The law makes clear that even if you hire another company to handle your email marketing, you can’t contract away your legal responsibility to comply with the law. Both the company whose product is promoted in the message and the company that actually sends the message may be held legally responsible.

Source: https://www.ftc.gov/tips-advice/business-center/guidance/can-spam-act-compliance-guide-business

linkedin Follow Us