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The New Rules of Cold Calling
The document discusses updated strategies for effective cold calling in 2017, emphasizing the importance of a targeted call list and thorough prospect research to maximize efficiency. It suggests reframing conversations to focus on the benefits for prospects rather than selling a product, and encourages viewing all prospects as potential appointments while being flexible in communication. Lastly, it advises against using outdated scripts, advocating for a conversational approach to better engage with prospects.
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The New Rules of Cold Calling
- 1. The New Rulesof Cold Calling: How to Set More Appointments, Faster
- 2. COLD CALLING in2017 Is cold calling worth my TIME and ENERGY? Will prospects TAKE MY CALLS and be WILLING TO TALK? Is cold calling as effective as other channels, like REFERRALS or EMAIL MARKETING? Does cold calling REALLY STILL WORK? Increasingly, cold calling seems like an UPHILL BATTLE. Today’s sales reps constantly ask themselves...
- 3. THE NEW RULESOF COLD CALLING Master the art of COLD CALL EFFICIENCY! Use strategies that get your prospects TALKING! Make cold calling a key component of a ROBUST BIZ-DEV STRATEGY! Set MORE APPOINTMENTS (they’ll lead to MORE SALES)! The answer to all of those questions is a resounding YES, if you UPDATE your cold calling strategy to...
- 4. Start With aGood Call List RULE No. 1
- 5. Call as many prospectsas you can. Take the time to create a TARGETED LIST of your HIGH VALUE prospects. OLD RULE NEW RULE
- 6. LIST BUILDING 101 Astrong list starts with the right DEMOGRAPHICS. Use your CURRENT CLIENTS as a road map: INDUSTRY SIZE SALES LOCATIONSTRUCTURE REACH ◯ Banking ◯ Telecom ◯ Etc. ◯ Large ◯ Medium ◯ Small ◯ <$25M ◯ $25-100M ◯ >$100M ◯ Public ◯ Private ◯ Other ◯ Local ◯ National ◯ Global ◯ Office ◯ Industrial ◯ Retail
- 7. KEY POINTS When youcall “everyone,” you waste time on bad prospects Time spent crafting your list = time saved on the phone Focus on high value prospects = better success rate
- 8. In BWise, usethe DESIGN QUERY feature to focus your target market according to your ideal demographic criteria! BWise User Tip
- 9.
- 10. Research your prospects thoroughlybefore you call them. Profile your prospects according to CATEGORIES to maximize EFFICIENCY. OLD RULE NEW RULE
- 11. When you coldcall, you’re ON THE CLOCK. Your goal is to MAXIMIZE the % of that time you spend talking to GOOD PROSPECTS. THE COLD CALLING “CLOCK” CALL TIME (Maximize) RESEARCH TIME (Minimize)
- 12. KEY POINTS Your coldcalling time is finite; make the most of it Research by category / industry = more efficient Similar firms face common challenges / priorities
- 13. With the BWiseACTIVITY MANAGER, you can create call queues, log call results, and schedule follow-ups. BWise User Tip
- 14. Don’t Sell YourProduct RULE No. 3
- 15. Sell your prospect onthe benefits of your product. Focus on what YOUR PROSPECT wants and needs, and sell the benefits of an APPOINTMENT. OLD RULE NEW RULE
- 16. THE VALUE OFAN APPOINTMENT FREE KNOWLEDGE The opportunity to brainstorm about problems and solutions, and to gain NEW IDEAS. NO STRINGS You may not be the RIGHT FIT—make clear there’s no commitment beyond a meeting. 2-WAY STREET Not just seller-buyer; BOTH PARTIES BENEFIT from an open and honest discussion.
- 17. KEY POINTS Prospects arefocused on their problems / priorities You won’t close a complex B2B sale with a cold call Climb the ladder: aim for the next step, not the final step
- 18. After you setan appointment, use the LINKS menu in any BWise company profile to discover prospect-specific news and information! BWise User Tip
- 19. Take “No” ForAn Answer RULE No. 4
- 20. View every prospectas a potential appointment, and don’t give up. Don’t focus on INDIVIDUAL prospects; focus on TOTAL APPOINTMENTS. OLD RULE NEW RULE
- 21. GOOD PROSPECT /BAD PROSPECT The more phone time you use trying to convince a NO... Not every prospect is a potential YES. Whatever the reason (bad timing, no budget, not interested), they’re stuck on NO. ...the less phone time you get with each potential YES.
- 22. KEY POINTS Your goal:a higher total number of appointments Learn to recognize a likely “no,” move on Last resort: the 3-6-9 question
- 23. Scrap the OldScript RULE No. 5
- 24. Develop a callscript and memorize it. Be SITUATIONAL, FLEXIBLE, and CONVERSATIONAL. Ask questions, and LISTEN more than you talk. OLD RULE NEW RULE
- 25. COLD CALL SCRIPTS:MYTH vs. FACT MYTH FACT Use a FORMAL greeting (“Hello Mrs. Jones”) Introduce YOURSELF and your COMPANY First, THANK your prospect for their time State the purpose of your call as a QUESTION: “If I told you I could X, would you be interested?” Offer TWO TIMES to choose from Formality can be PANDERING Unnecessary info = FRICTION Get to the POINT Smart prospects see through GIMMICKS Avoid GIMMICKS (again)
- 26. KEY POINTS Most scriptsare outdated and ineffective LISTEN: focus on what your prospect says Regular role play sharpens your skills
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- 28. © Business WiseInc. 2017 CHARLOTTE Rexford Rd. Suite E Charlotte, NC T. . . ATLANTA Powers Ferry Rd. Suite Atlanta, GA T. . . DALLAS Dallas Pkwy. Suite Addison, TX T. . .