Anyone working in sales has more than likely been introduced to “cold calling” leads as one of their first obstacles to overcome. This technique can make or break sales professionals and determine if they will be successful in the sales world or even survive at all. Many who use this technique fail in their first six months and don’t know why. The individual can have an outgoing and likeable personality, but give up because the idea of being a salesman is perceived as difficult.
Many call centers, investment firms, and insurance companies require you to keep track of daily dials and contacts made with a daily planner. Failure to follow this rule may leave you unemployed. Typical quotas of a few hundred calls or contacts are made per day. Out of the hundreds of calls made, you may make less than twenty successful contacts that merely agree to an appointment or say, “I’ll think about it”, which doesn’t necessarily mean a closed sale. Six hours and five cups of coffee later, this can be very frustrating.
With these types of statistics, there’s no question why cold calling leads is unsuccessful. Realize that you’re calling strangers with whom you have no credibility and who have probably received dozens of other calls like yours. Imagine the number of calls you receive yourself, and how you react to these calls. Most of us either disregard the call, or won’t give the caller the time of day by saying, “sorry, not interested”.
Successful sales professionals that have overcome the dreaded “rookie tryouts” of cold calling, phone book dials, door knocking, and handing out business cards to anyone they see, know that utilizing their networks and the associations of others, as well as referrals, are the most triumphant and easiest way to success. To get to this point, you have either experience it, or have been coached well from the start. Most seasoned business professionals have made the mistakes and learned from them as with any lesson in life, but if you are a rookie why not do your homework and save yourself the trouble.
The thing about business cards is that although they provide useful contact information and maybe even recognizable photos, most of them go in the trash or into a stack to never be seen again. Unless an individual personally knows you or wants something from you, they’re not interested in what you’re selling or what you do. You must remember that most human beings like to talk about themselves and most think about what’s in it for them. Instead, ask for their card so you can get in touch with them. Add the person or business to your contact list for newsletters and correspondence. This ensures that you have gained a contact and saved on the cost of your own cards. This way the ball is in your court and you can prepare to make the next move.
Next we’ll discuss networks; both personal and professional. The best and most proven way to promote your business as well as make successful sales is to utilize your network. By this approach I mean talking to people you already know about what you do. Realize that you have established credibility with your own circle or groups and all of us want to help friends and see them achieve success. To quote Warren Buffet, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” Keep in mind you want to maintain a good relationship with your network and not do anything erroneous to jeopardize it.
Referrals are an excellent way to add to your success and expand your network. By offering those you know a monetary referral or finder’s fee, you make it worth their while to send their contacts that you aren’t familiar with your way while showing them there’s something in it for them. The contact not only helps you or them, but they help the referred contact by introducing them to you and your business. The best practice is to send each other referrals; it’s a two-way street.
Hopefully, these techniques will help you become a more successful sales professional. There are a few techniques to “cold calling” if you must travel that route, which I will address in another article, but avoid the time, cost, and frustration if you can. You can also view my other article, “How I Help Clients…” which touches on two simple skills: asking questions and listening.