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Friday, March 12, 2010
Cold Calling is a Numbers Game - NOT!
If you been in sales for any length of time you've probably heard someone say, "Cold calling is a numbers game." It might have been your manager, or perhaps one of your colleagues who advised you to simply keep dialing because if you speak with enough prospects one will eventually say 'yes' to you. Keep "smilin' and dialin'" is often how that advice is framed.
Unfortunately many sales professionals blindly follow this advice as if it tells the whole story. And all too frequently sales managers tell their struggling sales representatives to simply make more dials, and more dials, and more dials.
Hundreds of daily dials, however, does not always result in success. Hundreds of daily dials does not always fill the pipeline. The reason for this is that while 'the dial' is the basic unit of measurement for success, it is not the only factor that influences the outcome of a cold calling campaign. Sometimes the problem for a representative lies not in the number of dials but in the preparation before the dials or in the execution of the dials.
The first factor that will influence the outcome of your cold calling campaign is targeting. Without a list of highly targeted prospects your cold calling efforts are doomed to failure. Those sales trainers and sales professionals who rail against cold calling as being ineffective generally site the idea of opening up the phone book and calling anybody. This is a fundamental misunderstanding of what cold calling really is. Cold calling is not opening up the phone book and calling anyone. Cold calling is a process by which you introduce yourself, your company, products or services to highly qualified prospects. You will never be able to introduce yourself to highly qualified prospects by simply opening up the phone book. Step one in any successful cold calling campaign is to do the homework and develop a highly qualified list. Then and only then should you get on the telephone.
The second factor is skill, your skill in accessing decision-makers and your skill in conversing with them. The really good news here is that cold calling is a communication skill and like any communication skill it can be learned and it can be improved upon. Unfortunately, because so many rely on the idea that cold calling is a numbers game, few take the time to really hone their skills in this area. Sales professionals who will spend hours preparing prospect presentations and designing and redesigning PowerPoint slides, will get on the telephone with a prospect and wing it. Then they wonder why the prospect was not interested in what they had to say. And while it is definitely more difficult today to reach prospects directly, it is not impossible. Representatives with persistence and skill are able to get through to have productive selling conversations with their prospects.
A successful cold calling campaign then hinges on three elements: First preparation and putting together a targeted list. Then dials. Then skill level. In combination these three elements are powerful. Any cold calling campaign that is missing one of them will fail. Cold calling is a numbers game plus.
Known as "The Queen of Cold Calling," Wendy Weiss is a sales trainer, sales coach and author specializing in cold calling and new business development. She helps clients speed up their sales cycle, reach more prospects directly and generate more sales revenue. Learn more at: www.WendyWeiss.com.
Cold calling is very difficult - and not a favorite of many. But, I think many sales experts would agree it is an essential part of a successful year. Today cold calling expert Wendy Weiss shares nine resolutions to incorporate into your cold calling now - your bank account will thank you!
--Make introductory calling into a game, and reward yourself when you succeed. For example, for every 'yes', put a dollar (or $2 or $3 - it's your game) into an envelope. At the end of the week take the money and treat yourself - even if it's only an ice cream cone.
--The biggest mistake that you can make when prospecting for new business is to stop. There is no new business without prospecting. The more calls you make, the more success you will have. The more doors you open, the more sales you will close. Keep calling.
--Set up a comfortable, organized, quiet environment in which to work. Get a good telephone - a land line is the best and make sure that it has clear sound. Get a headset so that you don't have neck and shoulder problems down the road.
--Wear comfortable clothes. Your prospect cannot see you. It does not matter what you are wearing. It does matter that you are comfortable so that you can focus and concentrate. If your business attire is uncomfortable change clothes. If your shoes are killing you, take them off.
--To become totally comfortable, rehearse your script. Practice it out loud. Call your voice mail and record yourself so that you can hear how you sound. Practice with your friends and colleagues. Role-play. Do everything that you can think of to prepare before you ever get on the telephone.
--When speaking with your prospect, tailor your introduction to their concerns. This process is about your prospect, not about you. Remember that people buy for their reasons, not yours.
--While you are calling, stay conscious of your breathing. If you find you are feeling stressed and holding your breath, take a moment. Do some breathing exercises and then go on. Sometimes you can breathe better if you are standing. Try that. Sometimes pacing while you are talking helps to get energy going and lets out the nervous tension.
--Do what you say you're going to do. If you tell your prospect that you will call next Thursday at 3:00 p.m. - call your prospect next Thursday at 3:00 p.m.
--Most sales are made, on average, after the seventh contact with a prospect. These contacts can be by phone, e-mail, fax or letter. Most salespeople give up after three or four contacts. If you do that, you are leaving cash on the floor behind you.
Known as "The Queen of Cold Calling," Wendy Weiss is a sales trainer, sales coach and author specializing in cold calling and new business development. She helps clients speed up their sales cycle, reach more prospects directly and generate more sales revenue. Learn more at: www.WendyWeiss.com.
Have you been firing off emails left and right, with no real response to your efforts? You may be making one of these mistakes sales expert Wendy Weiss warns against. Read on to make sure you're not including any of these in your e-correspondence.
1. Create an attention-grabbing subject line. If your prospect does not open your email or worse still, deletes your email you are nowhere. Make sure that you have an attention-grabbing subject line. Go to the newsstand and look at magazine headlines. Use magazine headlines as a model. You are looking for a formula to follow. The topic is, of course, different.
2. Subject lines that use the prospects name and/or subject lines that ask questions frequently work well. If you have a referral put that referral's name in the subject line, "Jane Jones recommended that I contact you."
3. Keep your email short and to the point. No more than one screen in length. Remember that your prospect may be reading on their desktop or they may be reading on their Blackberry.
4. Just like a voice mail message, make sure that your email focuses on a benefit or result that you/your company/your product or service achieves for customers.
5. Make sure that your message includes a call to action. What action do you want your prospect to take? If you want a phone call you must say, "Please call me." Don't expect that your prospect will guess. It's your job to ask.
6. No attachments. Remember that your prospect may be reading on their desktop or they may be reading on their Blackberry. In addition, attachments will frequently get caught in spam filters, which means that your email will not be delivered at all.
7. No HTML or fancy graphics. Remember that your prospect may be reading on their desktop or they may be reading on their Blackberry. In addition, some graphics can get caught in spam filters, which means that your email will not be delivered at all.
Wendy Weiss is known as "The Queen of Cold Calling." She's written a bestselling e-book called "101 Cold Calling Tips for Developing New Business in a Downturn." Find out how it can help you sell more by phone here.
How many times have you gotten the run-around when calling a new company to reach the decision maker? Either people don't know who the decision maker is, so you're stuck leaving messages and calling people who don't have any buying power, or they're reluctant to give you the correct name, so you have to do a lot of digging to get the right contact info. Today tele-sales expert Wendy Weiss gives us the tips we need to easily reach the decision maker.
The first rule in "Naming Your Prospect" is to ask for a title not an activity. Do not ask for "the person who makes the decision to purchase..." Making the "decision to purchase..." is an activity and may get you a name, however, it will most likely be the name of someone who is involved but not in a decision-making capacity.
A better approach is to figure out what department the decision is likely made in and then find out who is the head of that department. If, for example, you know that the decision to purchase whatever you are selling is made in the Marketing Department ask for the head of the Marketing Department. This could be the senior vice president, or vice president or director. If you are calling small companies the person you want to reach is most likely the Owner. Once you have identified the appropriate title or titles (there may be variations from company to company):
1. Check the prospect company's web site. This is the easiest way to find your prospect's name. Thanks to the Internet, many companies today list executive and/or senior management on their web sites.
2. Ask the receptionist. Dial the company's main number and ask the front line person who answers the line for the name of the person who has the appropriate title. Be prepared to throw out variations of that title as different companies may use different titles for the same type of position. When you are calling large companies receptionists do not screen calls. That question, "What is this in reference to?" is actually a request for information. Keep suggesting titles until one sounds familiar to that receptionist.
3. Call the Chief Executive Officer. The theory here is that Executive Assistants know everything. Call the CEO's office and ask the Executive Assistant for some help, "I'm wondering if you can help me." Tell the Executive Assistant exactly what you need and she will more than likely point you in the right direction.
4. Randomly change the general switchboard number extensions. If the switchboard number is 5000, call 5001, 5002... until you reach a human being. It won't be the right human being, but that's ok. Once you reach a human being ask that person to help you, "I'm wondering if you can help me." Ask, "Do you have a company directory?" When asked, most people are very happy to help.
5. The made-up name. Sometimes companies will not give out information unless you have a name. In this case, make up a name and then ask for that person. The switchboard operator will tell you there is no one there by that name. You then say, "Oh, (Made up Name) used to be the (Title). Who has taken over for her?" Many times this will work to get you the right name.
6. Ask a sales person. Call the sales department and speak with a sales person. Say, "I'm wondering if you can help me." Sales people will understand and if they can they will help you. Tell the sales person exactly who you are trying to reach. If they do not know the correct name ask, "Do you have a directory handy? Could you look that up for me?"
7. Ask Customer Service. Customer Service is there to help. Call them and ask for help, "I'm wondering if you can help me." Many times Customer Service can give you the information that you require. Again, if the Customer Service representative does not know the correct name ask, "Do you have a directory handy? Could you look that up for me?"
With these seven ways of naming your prospect, finding the decision-maker should never again be an issue.
Wendy Weiss is known as "The Queen of Cold Calling." She's written a bestselling e-book called "101 Cold Calling Tips for Developing New Business in a Downturn." Find out how it can help you sell more by phone here.
"There's a myth that selling by phone is a numbers game," Wendy Weiss says. "If you dial the phone enough times, someone is going to say, 'yes.' Perhaps that was true years ago; it is certainly not true today. It is simply too hard to get people on the telephone. When you do get a prospect on the phone, you had better have something compelling to say as you will probably not get a second chance."
Yesterday sales trainer Wendy Weiss showed us how our words can create resistance with our prospects, and quick things we can do to change that. She's back today with two more problem questions and their quick fixes.
Has that worked well for you?
This question begs a 'yes' or 'no' answer. Remember that the status quo is very powerful. Few prospects, unless they are absolutely miserable, will answer 'yes' to that question because few people like to admit (especially to strangers) that they have made a mistake. Most therefore, will automatically answer, 'yes', and then they'll probably add, 'everything is fine'. A 'yes, everything is fine' answer leaves you with no place to go. You're facing a wall of your own making.
A slightly better version of this question would be, 'How is that working for you?' You might be able to gather some additional information. Even when phrased this way, however, the strength of the status quo makes this simply not a good question to ask.
A better question to ask would be, 'How do you handle it when (fill in the blank) happens?' You fill in the blank with an issue or challenge that, because you've done your homework, you know your prospect might face. This question will give you information and possibly uncover areas of weakness or need where you might be able to help.
Is your vendor/advisor/broker showing you/telling you about (fill in the blank)?
This problem question will yield a 'yes' or 'no' answer and is also potentially confrontational. In addition, this question can have the very subtle subtext that the prospect has made a mistake in their choice of vendor/advisor/broker. As with the first question, this question puts the prospect in the wrong, which will automatically create resistance. A better question again is the one mentioned above, 'How do you handle it when (fill in the blank) happens?'
These very subtle changes in verbiage can totally change how your prospect views you and your call. The language you use can make a prospect open and willing to have a conversation with you or it can make a prospect totally shut down. The good news is that what you say is under your control. It is very possible and not particularly difficult to make these subtle tweaks that can have a huge impact.
Wendy Weiss, The Queen of Cold Calling, can be reached at www.wendyweiss.com or wendy@wendyweiss.com
The syntax of a sentence is the way in which the words are arranged to convey meaning. Why am I giving you a quick lesson in linguistics? Because the way in which you phrase your thoughts with clients and prospects will influence their understanding. Cold calling expert Wendy Weiss has some tips to help you phrase your words in a way that will close the deal!
Here are some sample questions you might be using that need a quick fix:
--Don't you want another set of eyes to look at what you're doing? --Has that worked well for you? --Is your vendor/advisor/broker showing you/telling you about (fill in the blank)?
There are several problems with these types of questions. The first is that the answer will either be 'yes' or 'no'. A 'yes' or 'no' answer will give you no additional information. In addition, these types of questions set up resistance from the prospect. They essentially set up a wall where none existed before.
Let's look at the first question: "Don't you want another set of eyes to look at what you're doing?"
While the concept of having another set of eyes or another viewpoint can work very well, this verbiage is confrontational. Once you've asked the question you have nowhere to go except wait for the answer - which will most likely be 'no'. There's a very subtle bit of a subtext here: The prospect is making or might have made a mistake and thus needs another set of eyes. It puts the prospect in the wrong and will automatically create resistance.
Consider using, "It certainly never hurts to have another set of eyes looking at what you're doing..." followed up by, "Right now, I'd like to introduce myself..." This changes the focus from whether or not the prospect has made a mistake to the caller's actual goal for the conversation, which is an introduction. The concept of another set of eyes becomes the rationale for the prospect to schedule the appointment.
Check back in with us tomorrow for the fixes to the other two questions.
Wendy Weiss, The Queen of Cold Calling, can be reached at www.wendyweiss.com or wendy@wendyweiss.com
Cold calling is not dead. Telesales expert Wendy Weiss made a successful living with cold calling and now has expert advice for you to do the same - the only thing is, you need to get out of the dark ages and look at new ways to cold call. Here's her last rule to earn money with cold calling. Have a system
This is probably the hardest rule for most people to follow. I am always surprised by the number of sales professionals and business owners who do not have a good system to track their prospects--or even their customers. In 2009 there is no excuse for not using some type of contact tracking software.
In addition set up your "Best Practices" for prospecting. What are your systems for contacting prospects? How often do you try a prospect before letting them go? What scripts are you using? What scripts are you using for voice mails? What email templates are you using? What is your system to follow up with prospects? What other tools are you using to support your prospecting efforts? While the answers to these questions are outside the scope of this article, they are important and will have a great impact on any cold calling campaign.
While cold calling has changed in certain ways, the bottom line is that cold calling still works. It must be targeted and you must have a compelling, market-focused, value-centered message that will resonate with prospects. Rather than manipulation, cold calling is sorting--you are looking for those prospects who are looking for you. For cold calling to work best, it is about sorting your prospects with a system. Cold calling is about conversations that lead to conversions, it's not about closing on the telephone on the first call.
The "numbers game" and "open the phone book and call" days are history. Cold calling is not dead. Long live cold calling.
Learn more from cold calling expert Wendy Weiss at www.wendyweiss.com or email her at wendy@wendyweiss.com
Telesales expert Wendy Weiss is back today with a few quick tips to help you update your cold calling skills and earn more money. Keep these in mind when you pick up the phone today.
Use all available tools
While it is more difficult to get prospects on the telephone today, the good news is that there are more tools available to you to reach your prospects directly. While at one time the only way you could contact a prospect was via their office phone (or perhaps a letter) today you can also call the prospect's cell phone and/or send an email.
Always try to reach your prospect directly first. It is always better if you can have a conversation. If after several attempts and, if this is a prospect that you truly want to reach, you can leave a voice mail message or send an email.
Remember: As with your script, the rule for a voice mail or an email is to lead with the value that you provide. That is what will gain your prospect’s attention.
Look for the prospects that are looking for you
Rule 1 was to create your "Qualifying Parameters" so that you could create a targeted list. Keep your "Qualifying Parameters" in mind as you speak with prospects. Remember: You are looking for the best prospects, the ones who are most likely to buy, buy again and keep coming back to buy more. The myth is that cold calling is manipulating prospects into buying things they neither want, nor need. The reality is that you are looking for the prospects that are looking for you. So look to qualify your prospects out. If during your conversation with a prospect, you realize that prospect no longer fits your "Qualifying Parameters" then they are no longer a prospect for you. Let them go.
Learn more from cold calling expert Wendy Weiss at www.wendyweiss.com or email her at wendy@wendyweiss.com
A few weeks ago we ran a series from telesales expert Wendy Weiss with cold calling tips to bring your prospecting into the 21st century. This week Wendy's back with some final tips that will give you the push you need to convert those calls into sales, no matter what the state of the economy.
Craft your approach Bottom line, cold calling is a communication skill. You want your prospect to understand the value that you represent and how it will positively impact them. You want the prospect to be interested and excited by what you have to offer. In order to achieve that result you must craft your language.
One thing that has not changed over the years is that you don't have a lot of time to grab and hold your prospects' attention. Because it is so difficult to get prospects on the telephone it is imperative to be prepared. When you get that prospect on the telephone you must have something compelling to say. If it is not interesting or relevant to your prospect they will not want to speak with you. This is not the moment to be winging it. If that prospect says, "I'm not interested" and then hangs up, you will not get another chance.
Lead with the value that you provide and use some concrete examples to illustrate that value. Make sure to ask for what you want, a meeting, an extended telephone conversation, or perhaps scheduling a time for the prospect to see a web-based demo. Over time you will memorize your approach. If you are just starting out, write it down so that you won't have to think about it or worry that you'll forget. You can simply concentrate on your prospect.
Create Telephone Theater It's not only what you say; it's how you say it. Your voice conveys as much if not more than the words you say so take the time to practice out loud. Call your voice mail and record yourself, listen to how you sound. You want to sound warm, friendly and confident, happy to be speaking with your prospect and with the sense that you have something important to say.
Learn more from cold calling expert Wendy Weiss at www.wendyweiss.com or email her at wendy@wendyweiss.com
Telesales expert Wendy Weiss joined us last week with her updated rules for cold calling in the 21st century. Today she's back with her final rule - understanding the goal of your call.
Understand the goal of your call Many people confuse the idea of cold calling with the idea of closing a sale. Every sale goes through a cycle from the introduction to information gathering to offering a solution to closing. Cold calling is not closing a sale. That comes later. Most sales professionals and/or business owners are making calls to set face-to-face meetings or have some type of introductory conversation. The cold call is not the sale--it is the introduction.
This concept frames your entire approach. On most cold calls you are not asking the prospect to buy from you over the telephone or to agree to let you replace their current vendor. You are only asking to have a productive conversation. This approach has two advantages: Your prospect feels far less pressure (you never want a prospect to feel pressure because they will run) and you also feel less pressure (you don't have to close on the phone.)
Learn more from cold calling expert Wendy Weiss at www.wendyweiss.com or email her at wendy@wendyweiss.com
Yesterday telesales expert Wendy Weiss started off a three-part series on cold calling rules for the 21st century, sharing how having a targeted list is much better than dialing number after number. Here's new rule number two:
Answer your prospect's question: Why should they be interested?
In addition to having a targeted list, your approach must be targeted to the market and the individual that you are calling. It must be relevant. There is no generic approach that will work. Preparation counts, big time. Ask yourself these questions:
--What are your prospects' challenges? --What is their history? --What's happening now? --What problems do you solve for your customers? --What problems can you potentially solve for your prospects? --How do you help your customers?
In order to create an approach that will resonate with prospects you must dig deeply to understand them. Do your homework and do the research. They will not tell you; they'll expect you to know. Prospects today are busy; they are bombarded from all sides. If you want to get their attention on a prospecting call you need to have something compelling to say. It must be relevant. Truly understanding your prospects and their situations will help you craft an approach that will enable you to have a productive conversation with them.
Have a wonderful weekend! We'll finish this series next week.
Learn more from cold calling expert Wendy Weiss at www.wendyweiss.com or email her at wendy@wendyweiss.com
Are you following outdated cold calling techniques like "everyone is a prospect" or "cold calling is a numbers game"? If so, you'll eventually reach your customers - but it will take more time than it should. Here telesales expert Wendy Weiss offers up some tips that will have you dialing for dollars - not dismissals.
Have a targeted list
Before starting a cold calling campaign create a profile of the ideal prospects you are trying to reach. What that means is that out of everyone in the entire world who might buy what you sell, who is most likely to? Who is most likely to buy a lot of what you sell and then keep returning to buy more?
Describe this ideal customer in specific detail. Use criteria like: What industry? Where are they located? What is the title of the decision-maker? Does this market have challenges or issues that your product or service can solve? If you are calling in the consumer market, what are the demographics of your ideal prospects? Where do they live? Work? Go to school? These are your "qualifying parameters," the parameters that describe your ideal prospect who is likely to buy, buy a lot and come back to buy more. Then, only call the leads that fit your "ideal customer profile." If a prospect does not meet your parameters, they are not a qualified prospect. You will spin your wheels and waste your time trying to reach them and they will not buy or not buy very much.
In business-to-business calls make sure to only call the highest-level person you believe is the decision-maker. If that person is not the decision-maker, they'll be able to tell you who is. Far too many sales professionals and business owners waste their time calling too low. They do this with the idea that somehow the calls will be easier. They won't. This will simply waste your time and extend your sales cycle. If you are not speaking with a decision-maker, you are not speaking with a qualified prospect. If you are not speaking with a qualified prospect, they will never buy from you.
Check back in tomorrow for more from of Weiss' updated cold calling tips.
Learn more from cold calling expert Wendy Weiss at www.wendyweiss.com or email her at wendy@wendyweiss.com
With so many people and job titles in an organization, it can be hard to find the decision maker you need to speak with. After all, it could be the VP, the CFO, the Director, the Managing Director, Purchasing, etc. Way too many choices, but it's something you have to keep digging at until you find the right person.
"If you are not speaking with a decision-maker your sales cycle will lengthen and you may run the risk of losing the opportunity altogether," says telesales expert Wendy Weiss.
"Influencers" influence. They do not decide.
Here's the bottom line from Weiss: "If you are not speaking with a decision-maker, you are not speaking with a qualified prospect. Far too many sales representatives spend far too much time courting prospects who can never and will never make a decision."
"One way to ensure that you are always speaking with the decision-maker is to always call the highest-level person that you believe would make the decision," continues Weiss. "That person will either be your correct prospect, or they will know who is and they can point you in the right direction."
Once you've got that prospect on the phone, make sure to ask the following questions. This way you will be certain that you are speaking with the decision-maker.
1. What is your decision-making process? 2. How have you made this decision before? 3. What are the steps in your decision-making process? 4. How long does it take? 5. Who is involved in the decision-making process? 6. Who makes the final decision? 7. Who else will you be speaking with about this decision? 8. After we submit our proposal/bid/quote, what happens next? 9. How long will that take? 10.When do you expect to make a decision? 11.When would you like to begin?
Sales conversations all around the world start out with, "I just called to see how things are going." Wendy Weiss recounts this sad sales conversation in hopes we can all learn from it:
Sales Representative: "I just called to see how things are going." Wendy: "Things are going fine. Why are you calling?"
Sales Representative: "I just called to see how things are."
Wendy: "Things are fine." Sales Representative: "OK. Well I'm here if you need me."
Wendy: "Why should I need you?"
"'I just called to see how things are going' has to be the lamest follow-up question of all time," says Weiss. "Although, it is running neck and neck with, 'I just called to follow-up.' Neither question elicits any information, neither moves the sales process forward and both are frequently annoying to your prospect who has absolutely no idea why you have called."
"The rule is: Never make a call to your prospect without having a goal in mind. When you hang up the telephone, what do you want to have accomplished? Do you want to gather information? Do you want the prospect to commit to some action? Do you want agreement on the next step in your sales process? Once you have your goal in mind then you can figure out the appropriate approach."
"Here's an approach that you can use to set up your follow up calls," says Weiss. "I call it the 'Instant Recap/Guilt Technique.'" It goes like this:
Instant Recap "Hello (prospect's name goes here.) This is (your name) from (your company.) We spoke on (date goes here) and discussed (fill in whatever you discussed.)" Guilt "You asked me to call you (or 'We agreed that I'd call') to discuss (fill in the blank with your next step.)"
The "Instant Recap" brings your prospect back to your last conversation. Your prospect may or may not remember that conversation and when you are prospecting, you don't want to count on your prospect's memory. Help your prospect out by recapping your last conversation.
The "Guilt Technique" then explains why you are calling. There had been a previous conversation, outlined in the "Instant Recap" and now you are doing what you had promised to do, call your prospect.
Wendy Weiss, "The Queen of Cold Calling," is a sales trainer, author and sales coach. Her recently released program, "The Miracle Appointment-Setting Script," and/or her book, "Cold Calling for Women," can be ordered by visiting her website. Contact her at wendy@wendyweiss.com.
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SalesDog.com, the internet's number one sales success destination for more than seven years, works with America's leading sales experts to bring practical selling tips and strategies to salespeople, sales managers, business owners and entrepreneurs. Over 30,000 sales professionals rely on its free weekly newsletter to keep them abreast of cutting-edge developments impacting their profession.
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