Bradley Associates: Gaining Access to Key Decision Makers. Cold Calling does work – if you know how to call.

http://www.redgage.com/blogs/adalrichschmidt/bradley-associates-gaining-access-to-key-decision-makers-cold-calling-does-work-if-you-know-how-to-call.html

Will sales reps cold call – and learn to like it?  Yes, if shown that cold calling is effective in gaining access to decision makers and Key Player executives.  The sales person needs to learn to approach cold calling differently -- and should use cold calling to cultivate an internal referral and not to initially call the Key Player. Why not?

A survey* of senior executives was conducted to determine under what circumstances they would respond to a contact from an unknown salesperson. Responses showed that eighty percent (80%) of senior executives are unlikely to ever respond to an inbound sales call. Not great odds. Other than golf, not many people enjoy an effort that yields such disappointing results.

The executives surveyed further indicated that the most likely way to gain access to them is a referral from someone inside their own company. Eighty-four percent (84%) will always or usually respond to an internal referral. A prospecting technique that has been shown to have 84% effectiveness?  What sales person wouldn’t use it? -- once they are shown how to use cold calling to generate internal referrals. I conduct CustomerCentric Selling® Cold Call Seminars and real-time Cold Call Coaching, and the most common error made by reps is the lack of a plan for a successful calling session. Before calling the targeted Key Player, I coach the rep to intentionally call laterally or one level lower, as well as to non-key players within that company.

The objective of these calls is to gain an insight into the prospect company that cannot be gleaned from researching their website or other sources.  The sales rep is looking for a "hook." I recommend that the rep be very upfront about the reason for the call – they are gathering facts to prepare for a conversation with one of the prospect’s executives.

The rep should be prepared with questions that reflect the research done on the prospect before the call.  The questions will help the sales person to identify a goal, need or issue within that prospect that might be addressed by your company’s offerings. Conscientious and relevant questions also demonstrate to the prospect that the rep is credible, interested and respectful of the contact’s time.

Surprisingly, most people called are open to these conversations, and at ease in responding to questions. After all, the sales rep isn’t trying to sell anything to them – they are just asking for help. Even very busy executives rarely rebuff a sincere request for assistance. Often a lateral or subordinate executive will offer that, "Yes, you may indicate we spoke, and these were my thoughts.” Bingo! The sales person has crafted the referral from inside the company.

The result of cold calling with such an approach is this: The rep can make each cold call productive. Knowledge - if not access - can be harvested from every conversation. After only a couple calls, the sales person will have documented many pages of useful notes from these “staging” conversations within the target company, and, as a result,  will be much more knowledgeable about the prospect. This achievement in itself makes cold calling much more satisfying. And the sales person becomes increasingly confident as they polish their cold calling abilities.

Selecting from the gathered notes, the rep crafts a unique script.  Yes, the rep should prepare a written script for the call to the targeted Key Player, and should practice that script until it sounds fluid but not “scripted.”  This script can refer to the earlier conversations within the company, use the referring colleague’s name, and highlight the issues or goals uncovered.

Then, with confidence and skill, the rep tackles that critical cold call to the Decision Maker -- this time with the odds in your favor.

Bradley Associates: The Guerrilla Consultant

http://www.redgage.com/blogs/adalrichschmidt/bradley-associates-the-guerrilla-consultant.html

Dialing in Desperation

“Ms. Patterson, you have a cold call from some consultant on line two.”

That message probably rates as much excitement as a call from an IRS auditor. So, what usually follows is a quick brush-off from the “prospective” client.

Never mind the stiff-arm response, the consultant thinks. We cold callers know that a thick skin is table stakes, and we expect rejection. I’ve got to keep dialing for dollars.

Wrong.

With all the high-impact marketing and sales strategies available to consultants, it’s time to put the cold call out to pasture once and for all.

Enjoy the article, and let me know what you think.

Mike McLaughlin
Co-Author, Guerrilla Marketing for Consultants

Cold Calling: Lower Head, Ram Wall and Repeat

The letter or email hits your inbox with an offer of service, and the concluding sentence that says this person you don’t know is going to call next week to discuss these important matters with you.

Please don’t, ok?

The cold call is older than fictional salesman Willy Loman—and less effective, particularly for consultants. A cold call campaign is founded on the one-two punch theory of sales. First, you send out a stack of “enticing” letters to people you don’t know, and second, you call them and solicit their business.

The underlying logic of the campaign is that having a large number of targets will work in your favor. You know that most of your calls will result in failure, but you hope a small percentage of those you contact will agree to meet with you. And from that group, some small percentage will want to discuss a proposal, and a smaller percentage may hire you.

What’s Wrong with this Picture?

If you’re selling aluminum siding, investments, or cell phone service, maybe nothing is wrong with that strategy. But most consultants would rather work for free than make a cold call. Placing a call to a complete stranger to make an offer is self-serving, not client-serving.

Your call is a solution in search of a problem, and everyone knows it. You can be sure that if you do make contact, that person’s guard will be way up.

“The cold call is older than fictional salesman Willy Loman—and less effective, particularly for consultants.”

Cold callers are lucky if they get through toanyone of significance. You’re more likely to reach gatekeepers and tire kickers, not decision makers. And remember, most direct mail is thrown away or ends up in a spam folder before it’s opened. So don’t be surprised if the person answering your call has no idea who you are or why you’re calling.

Even if you’re fortunate enough to reach a decision maker and your message is well-received, that doesn’t necessarily help you. In the consulting business, most service buyers obtain recommendations from colleagues on which consultants to hire. So, it’s possible that your call will give the prospective client a great idea and, because you are an unknown, that client will hire someone else to do the work.

An Offer They Can Refuse

A cold calling operation wastes valuable time and energy. Before you can experience the joys of cold calling, you must have a data base of prospects, a targeted letter, a phone script, and time to place your calls. You also need a good system for call scheduling, tracking, and follow-up. But don’t forget to put on your hard hat because most people are just going to say no.

Like everything in the consulting business, you’ll find an exception to any rule. It’s possible to find consultants who swear by the effectiveness of cold calling. For some professionals, cold calling is at the center of their lead generation strategy.

For most consultants, though, cold calling is best suited for initial introductions. And it takes a fair amount of time to get those prospects into the sales pipeline.

I think of cold calling as a spaghetti strategy: “Let’s throw it all against the wall and see what sticks.” It’s a high effort, low success numbers game that begins with the false assumption that you can identify your real prospects without knowing them, or their issues.

“Sir, Step away from the Phone!”

Eventually, every consultant needs to meet prospective clients to begin relationships and win new business. Otherwise, you can’t grow a consulting practice. But instead of mimicking telemarketers, use your precious time to create a strategic lead generation campaign, rather than engaging in a low probability numbers game.

Begin by identifying a small group of clients you’d like to work with. It’s helpful to rank the prospective clients using criteria that suit you. For example, you may only want to work in certain geographies, or for a particular size of company.

For some of the clients on your list, it’s likely you can use the power of your network of contacts for introductions. It may seem difficult to find people who can provide you with an introduction, but it is well worth the effort. A single introduction by a trusted colleague will almost always guarantee that client will take your call.

In other cases, you may not know anyone who can help you, so you need a different approach. This is the point at which some consultants resort to cold calls. Resist the temptation: you have many other options for raising your profile among your targeted clients.

Learn as much as possible about your prospective client’s industry and business. Identify the relevant trade or professional associations that serve your targeted client’s industry. Participate in those events, volunteer to speak, or write articles for the group.

“Use your valuable time building your marketplace eminence, instead of compiling cold call data bases.”

Broaden your network in the industry, and you’ll meet people who can, and will, help you. If you have a newsletter, keep building your list. Share your best ideas on your Web site, and contribute your articles to others’ Web sites.

Use your valuable time building your marketplace eminence, instead of compiling cold call data bases. Bring value to your targeted market and execute a strategy of creating relationships with prospective clients before you try to sell them something.

When you’re seeking new clients, put relationship development ahead of short-term lead generation and you’ll win without having to become a telemarketer.

Bradley Associates: Gaining Access to Key Decision Makers. Cold Calling does work – if you know how to call

http://www.social-bookmarking.net/news/bradley-associates-gaining-access-to-key-decision-makers-cold-calling-does-work-%E2%80%93-if-you-know-how-to-call/

Will sales reps cold call – and learn to like it? Yes, if shown that cold calling is effective in gaining access to decision makers and Key Player executives. The sales person needs to learn to approach cold calling differently -- and should use cold calling to cultivate an internal referral and not to initially call the Key Player. Why not?

A survey* of senior executives was conducted to determine under what circumstances they would respond to a contact from an unknown salesperson. Responses showed that eighty percent (80%) of senior executives are unlikely to ever respond to an inbound sales call. Not great odds. Other than golf, not many people enjoy an effort that yields such disappointing results.
The executives surveyed further indicated that the most likely way to gain access to them is a referral from someone inside their own company. Eighty-four percent (84%) will always or usually respond to an internal referral. A prospecting technique that has been shown to have 84% effectiveness? What sales person wouldn’t use it? -- once they are shown how to use cold calling to generate internal referrals. I conduct CustomerCentric Selling® Cold Call Seminars and real-time Cold Call Coaching, and the most common error made by reps is the lack of a plan for a successful calling session. Before calling the targeted Key Player, I coach the rep to intentionally call laterally or one level lower, as well as to non-key players within that company.
The objective of these calls is to gain an insight into the prospect company that cannot be gleaned from researching their website or other sources. The sales rep is looking for a "hook." I recommend that the rep be very upfront about the reason for the call – they are gathering facts to prepare for a conversation with one of the prospect’s executives.

The rep should be prepared with questions that reflect the research done on the prospect before the call. The questions will help the sales person to identify a goal, need or issue within that prospect that might be addressed by your company’s offerings. Conscientious and relevant questions also demonstrate to the prospect that the rep is credible, interested and respectful of the contact’s time.