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Cold Calling - How To Make It Work

Posted by Trish Bertuzzi on Fri, Dec 28, 2007 @ 08:46 AM
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Always a raging debate...cold calling...does it work or is it a waste of time?  Well, that all depends on how good you are at it! 

Cold calling is a science and not an art form.  Lobbing an occasional call out to a prospect with a message that is all about you will never work.  Executing a systematic campaign that conveys a sense of urgency and communicates your value proposition in actionable sound bites will get you a 20% response rate.  Oh, I can hear the screams now...20%???  Yes, you should be able to connect with your prospect at a rate of 20%.

What you do once you make that connection is up to you.  We have seen reps that have the ability to launch the sales process in a meaningful way once they have a prospect on the phone and we have also seen reps that are so unprepared they allow the prospect to say "no" before they even get started. 

What are the key ingredients to successful cold calling?

1. Focus only on those prospects that fit your Ideal Customer Profile (ICP).  Take the time to define what your sweet spot looks like and then build a target list of companies that fit those parameters.  Don't assume that just because a company is in your database they fit your ICP! 

2. Execute a process that includes 4 touches in 10 business days.  Call, call, email, call.  Don't fall into the trap of becoming an Inside Sales Rep that communicates primarily via email.  Yes, I know people respond to you more via email but that is because they can blow you off easier.  You can't control the sales process if you don't have the ability to ask relevant questions, handle objections and position yourself against the competition.  You don't need a pen pal, you need a qualified prospect.
 
3. Always leave compelling voice mail messages of less than 90 words.
 
4. Emails should be text only, contain only 1 link and be as short as possible (for reading on a BlackBerry/PDA/SmartPhone). Also, emails should have no attachments and must contain a call to action.

5. For your final call, let the prospect know it is your final call.

Also, bear in mind that just because the prospect does not respond immediately does not mean that your message was not absorbed. If they fit your ICP, put them through this process again in 6 months.

Feel free to post any questions you may have.  Or, if you have great voice mail messages or emails you would like to share, feel free to post them.  We want to learn from each other!

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COMMENTS

In addition to sending emails... they should be in Arial text only and in a 10 pt font because it is that much easier for your prospect to view on a BlackBerry/PDA/SmartPhone.

posted @ Thursday, February 07, 2008 11:36 AM by Travis Botta

In addition and as first step: a good way to increase the rate of your prospect taking your cold call is to send him/her a dimensional mail package first, well crafted to get their attention and interest. When you make the call you ask if they received the package and the doors are open, a conversation has gotten started, the chances of you getting that appointment increase tremendously. The rest is up to you.

posted @ Friday, April 25, 2008 7:32 PM by Gloria

When making cold calls I usually direct mail a letter that is brief and to the point that leads the prospect to know I understand there business and I have value to provide. When I call, my first statement is “I sent you a correspondence and did not hear back from you. I as concerned you did not have a chance to read my letter or it was discarded and it never made it to your desk." The typical response is I did not see it or what was it about. Both comments open the door to a conversation.

posted @ Wednesday, April 30, 2008 6:51 AM by Al Turrisi

@ Al. Thanks for posting. I have 2 questions for you.
1. What response rate do you get to the actual letters?
2. Do you think an email would work just as well?

posted @ Wednesday, April 30, 2008 7:18 AM by Trish Bertuzzi

Sending a package rather than a letter will cut to the clutter and when you call the person they do remember, which increases the chances of getting an appointment, we get about 70% appointments when doing this. We recently did mouse pads cut in pieces shaped as a puzzle, we kept one piece and enclosed a letter offering to bring the missing piece if they gave us the chance to present our services to them. The promotion well paid for itself! If you'd like to see a sample of this piece send me an email and I'll gladly send you a picture.

posted @ Wednesday, April 30, 2008 9:54 AM by Gloria

@ Gloria. What a great idea! Now I have 2 questions for you.
1. How much does something like that cost in a cost per lead ratio? Ballpark pricing of course.
2. Any ideas on how to translate that same strategy into something that could work for inside sales?

posted @ Wednesday, April 30, 2008 10:16 AM by Trish Bertuzzi

I would just add that when I was in telesales we were given a rule: You've got 12 seconds to grab their attention. If you can't make it meaningful by then, you've lost the sale. Too often people go into call ill-prepared to make their message relevant from the first word that leaves their lips.

posted @ Thursday, August 07, 2008 5:24 PM by Parker Trewin

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